Hello everybody .. here’s our weekly bonus analysis …I’m Stef Breschi and today is Sunday, the 10rd of January 2016.
Today we’re taking a look at the SP500 as we’ve taken a couple of positions lately which did not do so well and we would like to share this with our audience.
Daily chart: we expected 1900-2000 area to act as strong support so we went Long first on the back of an inside pin bar which got stopped out and last Friday in the 1 hr chart after bullish NFP data when we expected the 14 ema to cross the 40 ema but we jumped the gun and got stopped out there as well.
Weekly Chart: so what now? We can expect to see strong buying coming in in this large area of support between 1830 and 1900, just as it did before with these very long tailed weekly bars.
So next week we will be looking for price to enter this area and we will see what price does there..
Thank you for watching and have a great week!
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