NAS100 4 HOUR CHART –
Similar to US500, NAS100 opened higher but then settled back
.
Chart is clear: Needs to hold above 19842 to keep the risk on the record high at 20771 although 20000 is likely equally important in maintaining a bid.
Resistance starts at 20318, then 20593 ahead of the record 20771 level.
Note that CFD price feeds can differ between broker, even those using the same symbol. Ss, look at the chart pattern if the levels below do not line up with the prices on your chart.
US500 4 HOUR CHART – New record high but…
Opened at a new record high but then backed off into a range. This leaves the new high (5773) as the key resistance level,
Using this chart, US500 maintains a bid as long as it trade above 5711.
Note that CFD price feeds can differ between broker, even those using the same symbol. Ss, look at the chart pattern if the levels below do not line up with the prices on your chart.
XAUUSD 4 HOUR CHART – No sign of a top yet
Still no sign of a top with another record high at 2685.
As I have been saying:
When in unchartered record territory, resistance is only a guess so use the latest record high as the only level that matters. In addition, with no real resistance, the big figure like 2700 would be a potential target/pause level.
Another way to suggest a pause would need a day without a new high.
Support is now from 2650-2670..
XAUUSD 4 HOUR CHART – No sign of a top yet
Still no sign of a top with another record high at 2685.
As I have been saying:
When in unchartered record territory, resistance is only a guess so use the latest record high as the only level that matters. In addition, with no real resistance, the big figure like 2700 would be a potential target/pause level.
Another way to suggest a pause would need a day without a new high.
Support is now from 2650-2670..
I was asked to define pivotal
Pivotal = sentiment indicator, keeps a bid bias while above, keeps an offered bias while below
Bias = market will look to buy dips or sell blips
When a currency, for example, finds a bottom or top, it will gravitate back towards the pivotal level, which will ultimately dictate it bias (trading tone).
The more dominant cycle for UsdJpy is the buy side but it takes time for price to meet the outside orders which trace the momentum. What is happening right now is there are pockets of large order beneath current market that are to some extent tracking the flow and fill upon retracements. Very simple logic and quite logical. The premises is that it would require considerable conviction to reverse established momentum. The challenge for you is to ascertain where those orders might be if that sounds like a style that suits you.
BTC DAILY CHART
BTC trying to wake up from its slumber where 65K is clearly pivotal
As Bobby posted late yesterday
Just my 10 cents worth… To understand BTC , one should go with the biggest time frame , and then use that picture to position him/herself on smaller intraday time frames. We have very interesting situation here – 5 days till months end and possible perfect pattern for a break UP . 63.480.00 is a pivotal – if closes above , most probably will break 70K and continue to new high around 80K Only below 63K we can talk about down.
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