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Today Technical Trade Setups 22 Sep 2015

Discussion in 'Technical Analysis' started by Sam, Sep 22, 2015.

  1. Sam

    Sam Forum Member

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    EUR/USD
    [​IMG]
    AS we mentioned yesterday, The 1.1250s level was considered the pivotal point below it we have seen, the sell-off generated below that level to be traded at 1.1180s levels.

    So, we do see more sell to come as the expected scenario as long as still the market below the 1.13s especially if market cam below 1.1150s levels. As the target for the down trend 1.09/1.08.

    However, if the market cam back higher than 1.13s one more time then we will have a small trading range between 1.13 & 1.11.

    Finally, we will still to see and keeping our eye on the higher probable scenario which is downside move!



    SUPPORT RESISTANCE
    LEVEL1 1.1130 1.1250
    LEVEL2 1.1080 1.1330
    LEVEL3 1.0980 1.1420






    GBP/USD
    [​IMG]

    It was clear like water, the market has re-tested the broken pattern at the levels as we mention, and generated bear candles.

    A Sell-Off is the higher probable scenario as long as the market below 1.56s, to waiting the targets @ 1.51s

    However, if the market is traded higher than 1.5550s then a pull back and re-test to 1.56s is highly expected.



    SUPPORT RESISTANCE
    LEVEL1 1.5420 1.5550
    LEVEL2 1.5380 1.5650
    LEVEL3 1.5250 1.5720






    USD/JPY
    [​IMG]

    AS the market within the symmetrical triangle then we will wait is the better option for any wise trader. The main levels 121 / 118, any penetration of one of them it means more to come on the direction of the breakout (Upward breakout, or downward breakout respectively!)



    SUPPORT RESISTANCE
    LEVEL1 119.50 120.50
    LEVEL2 118.20 121.50
    LEVEL3 117.20 122.00






    Crude Oil
    [​IMG]

    It has tested the broken descending triangle, which then we do expect a higher levels to come as long as market higher than the tested candle as shown on the chart! Which is at the levels of 43s.

    In case the market felt below it (the lower probability) then a sell momentum would be the controller of the direction and below 40s a barrel would be expected.

    However, what we do see the higher probable scenario is that market to be higher than the re-test point which then a confirming to be in a correction wave to be higher than $50s.




    SUPPORT RESISTANCE
    LEVEL1 45.13 48.30
    LEVEL2 44.03 50.50
    LEVEL3 42.87 52.20






    GOLD
    [​IMG]

    The confusing yellow metal !

    as long as the market as shown below the mid-term down trend as we highlighted it , it means the downside risk is over there and can not be ignored , despite , we see higher probability on the upward movement.

    We are waiting the market to re-test the 1150s levels ( The Trend-Line ) ; or generating a more bars to be at least clearer than the current information which we have on the chart.

    All in All , as we see on the chart as market is trading below than 1114s we will see , more down move to 1105/1080s levels , as long as the market higher than that levels , so at least a re-test for 1150s is expected.




    SUPPORT RESISTANCE
    LEVEL1 1125 1142
    LEVEL2 1118 1158
    LEVEL3 1105 1168






    Dow Jones
    [​IMG]

    Market is confusing and asking one clear question ?

    Is dow is trading out of the pattern ( Breakout-out has occurred ) or still within the pattern ?
    This is tricky questions and considered the million dollar question , however , I would give you the scenarios .

    From Technical point of view , I do see the market has broken and retested that pattern and the downward pressure is the highly probable scenario, however , this is under one condition which is that the Dow Jones is traded below 16200s , Then we will wait a support test @ 16000s ,15500s respectively.
    Finally, the lower probable scenario the market to be higher than the pivotal point which we mentioned and to be toward 17200s and 17500s levels !




    SUPPORT RESISTANCE
    LEVEL1 16250 16800
    LEVEL2 15850 17250
    LEVEL3 15300 17500
     

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