Sp 500 Day Trading

Some peoples say we are starting a very important corrections, after seeing sellers take control of US Market. It may happen it may not, but so far, we still in Bull Market, And is just normal to see price fall for little bit, after testing the highest trend line of Bullish trend.

Note:Before we get in a major correction/Bear Market , Sellers need to pass my short targets/Resistances. Every time when sellers will hit those target/resistance , buyers will be ready to take control again and bring market at new highs, at least try. At this point, it will depend on volume/Commitment from each player.

For next months, till September, I’m interesting to see if Sellers will be in control most of the time, and at what price SP500 will be in September. depending on how thing go, will see if Bear market are coming or no.

Next week I’m looking to see buyers get in the market, but is also the last week of the month. It will create a new candlestick, and depending if we finish with sellers, buyers or Doji, it will tell us if Market will keep shorting, or will try to retest last highs.

day trading ES

SP500 Index Daily For Next Week,

I’m Looking to see Buyers take control in Market. After last drop, Market test a resistance ( orange area). On Friday we saw lots of buyers get in the market and show commitment to take control of sp500 in short futures. It will be important to see how Market will act on 50MA. will Buyers succeed to close above 50MA?

PS: I create a “potential Bearish trend”, If thing go well, this bearish trend can be very useful in futures for short positions.

Something else very interesting to trade next week, is US Dollars or EUR/USD , Doesn’t really matter witch one you use, since they move opposite way both.

us$ day trading

US$ Daily Chart

On US$, we can see that it hit  50MA and 50% Ret. Fibonacci. Even if we have no clear signal for short or Long so far, I’M looking to see US dollars go short.  First target will be at half way  to the 200 and if we see no major resistance, US$ will retest 200MA.

On volume side, we can see good amount of volume from buyers side. the next step, it’s to see if sellers will be as strong as buyers on last move up. if they won’t be able to keep same commitment as buyers, I’m looking to go Long on US$.

eurusd day trading

EURUSD Dailly Chart

On daily chart, we also see a 50% Ret. Fibonacci, and this happen on 50MA&200MA. When those pattern happen, we can definitely expect to see price bouncing to go at list till 50% on last move. down. Like on US$ , keep your eyes on volume. it will tell us everything for next direction to take.