Short Term Moves Shape Long Term Moves!
"Investors have very short memories." ~ Roman Abramovich
New Intraday Major Market Charts from TradingMarketSignals.com
At tradingmarketsignals.com we have just launched a new intra session section in which various major market charts are provided with key comments that provide the directional play ahead.
Important Recap of Monday's Charts and comments:
GBP Vs USD Hourly Chart
The GBP chart above is an Hourly chart for Monday 8th November and shows Thursday highs followed by Friday's declines. At the moment price is deciding on the next key move. The Blue line above is significant.
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If this line is taken out to the upside then price could simply glide higher.
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However failing this area will see the price slide to at least the red sliding line for just for a start!
Dow Jones 30 Minute Chart
The Dow Jones Slide 2 is a 30 minute chart which shows the market backing off from Friday's highs but also the 11400 mark is now the short term pivot point.
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Above the line and we could expect prices to move towards the highs
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Taking them out will see the index move higher but
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Taking out the lows of the open coupled with the lower red line will see prices slide much lower towards breakout levels!
Euro 30 Minute Chart
The move up for the Euro was a real sucker and now we have the entire up move wiped out from Wednesday/Thursday in which the currency sits at 139.
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Snapping this area with conviction would send the currency into a deeper decline.
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Basing here opens the prospects of bounces higher whilst the yellow line would need to be taken out with conviction.
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We could also just sidetrack for a while whilst the market decides which way to move.
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A deeper move south for Stocks and this currency could be poised for a sharper decline. For the moment we will watch price action.
Our indicator was spot on with nailing the highs for this market last week in which the currency has moved 400 points lower from its highs.
Crude Oil Hourly Chart
After the recent advances in the price of Crude the move has halted to some degree and the story at present is pretty simple for the short term traders.
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A range of around 100 points and a move either side of it will decide the next key move.
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A break above the red line could see prices move higher
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Whilst backing down and snapping the red line should see deeper declines emerge.
These can be taken as short term trigger points should a move with conviction occur outside of the short term range.
Gold 30 Minute Chart
The Chart above shows Gold making another high and with this we have showed a channel in which the 30 minute candles has travelled over the last few sessions.
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The breakout to a new high is marked by the blue line and chances are we could keep moving slightly higher before a pullback could emerge taking the price towards the lower end of the channel.
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Of course taking out the channel to the upside will see price shoot up even higher so watch carefully before picking an entry or use tight stops on shorts.
*Notice the indicator at the bottom - could see the 30 minute chart getting over extended should price continue moving higher
Conclusion
We analyse the markets daily at tradingmarketsignals.com and are always on the lookout for key moves Mon -Fri.
The above charts should hold the keys to the next moves and no doubt we'll have more charts analysed for many more markets poised to break away soon almost every day of the week.
If you cannot see downside occurring then at least act with caution when divulging your money to upside and the risk/reward ratios for many markets have flipped to say the least.
For the first time ever TMS has made a 6 month subscription package available to our global audience in which an exclusive rate has been issued for a limited time only. TMS will only allow for the availability of 100 places, 37 now remaining. TradingMarketSignals.com 6 Month - Exclusive
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