US30USD - 4H Bearish Divergence and in OTE Take Profit Zone

4 Feb 2019

Early signal of reversal due to bearish divergence (higher price on lower RSI value - a.k.a strength) combine that with downtrend resistance and OTE fibonacci levels making this a great spot to either sell or enter a short. The resistance line carries retracements of -7,-9,-17% so a decent retest is expected. Also spotted 3 distinct up-waves hinting that this might be the final upward elliott wave.

Good luck trading, hope you enjoy the charts. I try to keep them coming!

4 Feb 2019

Dagangan aktif

4 Feb 2019

Nota

Major and Minor Bearish Divergence!

5 Feb 2019

Dagangan aktif

The bulls keep buying on thin volume! Careful trend is not well supported and getting and RSI facing weekly resistance.

6 Feb 2019

Nota

US30 getting closer to that resistance line, trend is strong but not much volume supporting it. I've looked at historical move that seems to align quite well and even breaks down following current volume decline.

11 Feb 2019

Dagangan aktif

Global economic growth is being hit more significantly than many anticipate and calls for an impending U.S. recession now look increasingly credible, which is bad news for risk assets, according to Europe’s top-ranked strategy team at Societe Generale SA.

The Fed’s dovish pivot should cast doubts on how the last leg of this cycle will unfold, with investors likely to see profit warnings, defaults and increased volatility over the next 12 months, they wrote in a report Thursday. That may be favorable for Treasuries but necessitates an underweight stance on equities, credit and the dollar, they concluded.

“The damage to economic momentum and earnings seems real,” said Alain Bokobza, head of global asset allocation at the bank in Paris. “This time, easy monetary policy may lack the strength to turn the tide and avoid a recession.”

bloomberg.com/news/articles/2019-02-08/u-s-recession-increasingly-credible-to-top-ranked-strategy-team