Daytrading Technical Analysis · Trading Game Plan

2016/11/02 – Intraday Charts & Game Plan

Futures

 

Dow 30

Support: 17862, 17639

Resistance: 18000, 18140

Game Plan: Being dragged back down to bottom of trading range after S&P broke through. Dow is still relatively strong link comparing to other indices, but all hell break loose if we break Sept lows

20161102-YM.png

S&P 500

Support: 2067

Resistance: 2100, 2110, 2120

Game Plan:  Broke crucial supports and overnight trading remained heavy under 2100, now risks a waterfall drop to 2070 area. Stay aside and wait for an oversold bounce opportunity at 2070 area

20161102-ES.png

NDX 100

Support: 4720, 4700

Resistance: 4760, 4770

Game Plan: Broke through all critical support as well, stay neutral or wait for a bounce to 4770 for a short. On the downside little support until 4700.

20161102-NQ.png

Crude Oil

Support: 45.8, 44.28

Resistance: 46.77, 47

Game Plan: Very heavy, plunged through LT trend and next support at broken descending down trend just under 46. Sell into resistance at 47. Stay light

20161102-CL.png

Gold

Support: 1282, 1263

Resistance: 1303, 1310

Game Plan: Continues squeezing towards bottom of broken channel line at 1303. Good opportunity to take profits on longs and look to the short side.

20161102-GC.png

10-Yr Treasury Note

Support: 129.28, 129.86

Resistance: 130.4

Game Plan: Risk-off sentiment is giving Treasuries a bid, pushing it above descending wedge. Next resistance at late October swing high. Buy dips at broken wedge is current trade.

20161102-TY.png

US Dollar Index

Support: 97.5,    96.5

Resistance:  98.1, 98.3

Game Plan: Finally let loose to the downside, and H&S pattern is being developed in process. .Sell into relief rally to 98.1, the right shoulder.

20161102-DX.png

Nikkei 225

Support: 17025,

Resistance: 17230, 17300

Game Plan: Sharp fall on strengthening yen and sliced through uptrend like a butter. 17000 should provide some support but rallies should be towards 17300 in the ST

20161102-NIKK.png

 

Currency Pairs

USD/JPY

Support: 103.31, 102.81

Resistance: 104, 104.5

Game Plan: Vulnerable to further downside with minor support to downside in the near-term. Rallies should be sold towards 104

20161102-USDJPY.png

EUR/USD

Support: 1.1023, 1.0973

Resistance: 1.1095, 1.1178

Game Plan: Non-stop march meets headwind at just under 1.1095 which is confluence of two trendline resistance. Look for temporary pullback towards 1.10 to reload on longs.

20161102-EURUSD.png


GBP/USD

Support: 1.2250, 1.2140

Resistance: 1.2307, 1.2442

Game Plan: Currently battling to break back above descending channel broken since flash crash. A confirmed close above would point to further gains towards top of channel at 1.2440 area

20161102-GBPUSD.png

AUD/USD

Support: 0.7562, 0.7518

Resistance: 0.7670, 0.7720

Game Plan: Directionless trading in past month, and upside breaks have been fake outs. Trade the wide descending wedge both sides.

20161102-AUDUSD.png


 

USD/CAD

Support: 1.3308

Resistance: 1.3445

Game Plan: Still can’t break loose after taking out swing highs from earlier October, bounded by upper channel line and in a tight range. Buy on break above 1.3445 or at 1.3300

20161102-USDCAD.png


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