November 5th-10th outlook:
Where can this go after last weeks Rate hike 25%?
Looking at past technicals on the Line chart. There shows to be many Head & Shoulder formations (dating back to 12/16)
Possible Outlook:
1. Price remains under the 150 handle. Seems to be major resistance.
2.The week after NFP/Rate Hike seems to be choppy. So ill wait till midweek.
3. Preferably I would like to see a retest of 150 or even 150.702 and short to 147.500ish area.
5. Fibbonacci levels of PRZ are 61.8 and 38.2
6. If price breaks 150 and shows a bullish attitude I will wait.
7. RED: Major News Friday (Man U cost.)
8. Bulls are NOT the play. Wait it out. Real move may happen next week. 11/13
9. Look for Candlestick formation/TL etc for confirmation
10. Look for Impulse leg to form and trade it
Overall Bias: Short
Where can this go after last weeks Rate hike 25%?
Looking at past technicals on the Line chart. There shows to be many Head & Shoulder formations (dating back to 12/16)
Possible Outlook:
1. Price remains under the 150 handle. Seems to be major resistance.
2.The week after NFP/Rate Hike seems to be choppy. So ill wait till midweek.
3. Preferably I would like to see a retest of 150 or even 150.702 and short to 147.500ish area.
5. Fibbonacci levels of PRZ are 61.8 and 38.2
6. If price breaks 150 and shows a bullish attitude I will wait.
7. RED: Major News Friday (Man U cost.)
8. Bulls are NOT the play. Wait it out. Real move may happen next week. 11/13
9. Look for Candlestick formation/TL etc for confirmation
10. Look for Impulse leg to form and trade it
Overall Bias: Short