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Hammer

QQQ: Breaking some Key Resistances. Could it recover from here?• QQQ is in a key resistance area, under the 61.8% retracement (previous support, now resistance); • Since QQQ is trying to break this key point, it seems it will trigger the Hammer candlestick pattern from last Friday; • This bullish reversal sign could take QQQ to higher levels, at least to its 21 ema again, in the short-term; • If this will turn out to be a mid-term reversal structure, it is too soon to tell, as we must pay attention on how it’ll react near its next resistances; • The 38.2% retracement along with the 21 ema is a key resistance to pay attention in the next few days, if QQQ gets there; Remember to follow me to keep in touch with my analyses!
NASDAQ:QQQ
by Nathan_The_Finance_Hydra
SPX: Hit our TARGET! What's next?• We nailed another target on SPX, as it did exactly what it had to do, and it hit its 21 ema yesterday, just after I posted my daily analysis; • Today, it is under the 21 ema, indicating that the sell-off was intense, but we see some reaction; • While I’m writing this, SPX is trying to do a Hammer/Doji candlestick pattern in the daily chart. The pattern is still forming, and there’s a good chance it won’t close like this, but if it confirms a bullish reaction, it might bounce to its 21 ema again (daily chart); • The index is trying to stabilize just above the 50% retracement, as seen in the daily chart, and this point might work as a support level for us; • However, SPX has yet to show more bullish signs in order to truly reverse. For now, I won't set any public target on it, but I’ll keep you guys posted, as usual. Soon we'll have more definition. Remember to follow me to keep in touch with my analyses!
SP:SPX
by Nathan_The_Finance_Hydra
2
Tug of War Among Central BanksThere is a tug of war situation among the central banks to hike interest rates. What is the bad and the good that will come out from this? i. Last week of October, European Central Bank officials announced another massive 75 basis point hike, increasing interest rates at the fastest pace in the history of the euro currency. ii. This week, the Federal Reserve is expected to increase rates by 75 basis points for the fourth time in a row. iii. The Bank of England could join the club on Thursday. Content: . The Interest Rate race has just started, why? . The impact on different currencies . It may not be all bad news, why? With higher interest rates, it attracts investors to buy its currency, in this case the USD. Currency is always a pair, when USD strengthens, the other side weakens. When a currency gets weaker, it is very bad news for inflation because they will have to pay more on their imports. Therefore in order to counter inflation, one of the best measures is to hike rate Expect more volatility in the currencies market, meaning currencies will take its turn to move. And if you are a trader, you should welcome volatility. Because with volatility, there are opportunities. GBP Futures 0.0001 = $6.25 0.001 = $62.50 0.01 = $625 0.1 = $6,250 1.1000 to 1.2000 = $6,250 Disclaimer: • What presented here is not a recommendation, please consult your licensed broker. • Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises. CME Real-time Market Data help identify trading set-ups in real-time and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
CME:6B1!Education
by konhow
76
Topglove. JP Morgan’s TP May “failed” this time. 1/Oct/22Topglove. JP Morgan’s Projection of RM0.45 probably “failed” this time. As other 3 major player already posing a bullish reversal setup based on Elliott wave and cycle. Just waiting for “confirmation” signal. Topglove price has just broken RM0.605 a “confirmation signal “ +++ Price of weekly Topglove, kossan and monthly Harta has formed a hammer candle/ pin bar bullish pattern possible market “price in” A.S.P ( Average Selling Price) increment lead by Topglove as “catalyst” of the beginning of long term bull trend after long term “correction “ since August/Oct 2020..
MYX:TOPGLOV
by SteveTan