Daytrading Technical Analysis · Trading Game Plan

2016/11/04 – Intraday Charts & Game Plan

Futures

 

Dow 30

Support: 17835, 17639

Resistance: 18000, 18065

Game Plan: Despite all negativity, Dow has been able to hold Sept lows. Continue to watch Dow for cues of broader market sentiment – if break below Sept lows, watch out for a waterfall drop.

20161104-YM.png

S&P 500

Support: 2080, 2067

Resistance: 2102, 2116

Game Plan:  Remains in sell the rally mode as it continues marred in bearish channel since losing 2100 support.

20161104-ES.png

NDX 100

Support: 4653, 4623

Resistance: 4700, 4750

Game Plan: Another level down in the elevator after plunging through 4700. Old support now is strong resistance at 4700

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Crude Oil

Support: 44, 43.4

Resistance: 46.1, 46.9

Game Plan: Another leg down as the steep down channel continues to dictate the ST trend.

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Gold

Support: 1287, 1267

Resistance: 1306, 1328

Game Plan: Defended support off up channel with a sharp up spike. Jury still out which way it breaks out from here, trade the range in the meantime between 1267 and 1306.

20161104-GC.png

10-Yr Treasury Note

Support: 129.75, 129.27

Resistance: 130.4

Game Plan: Bounced off broken descending trendline. Sideways trading between horizontal resistance and the trendline.

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US Dollar Index

Support: 97, 96.5

Resistance:  97.52, 98

Game Plan: Pause in down trend after finding support at key Oct swing point. NFP will determine fate whether we plunge further to up trend support or back to 98 to form potential right shoulder

20161104-DX.png

Nikkei 225

Support: 16840, 16700

Resistance: 17160, 17280

Game Plan: LT trendline support gave Nikkei a lift off the lows but remains in a steep downtrend. All eyes on NFP and the US Dollar.

20161104-NIKK.png

 

Currency Pairs

USD/JPY

Support: 102.55, 102.16

Resistance: 103.3, 104

Game Plan: Bleeding has stopped and a break back above 103.3 would point to squeeze further to 104.5 area to form right shoulder.

20161104-USDJPY.png

EUR/USD

Support: 1.1050, 1.1026

Resistance: 1.1112, 1.1131

Game Plan: Finally stalled at cluster of trendline resistance above 1.11. Likely pullback further towards towards low 1.10 area before the next leg up

20161104-EURUSD.png


GBP/USD

Support: 1.2450, 1.2302

Resistance: 1.2711

Game Plan: Consolidating gains after massive spike up above crucial down channel. Wait for overbought conditions to get worked off before jumping in on the long side with ultimate target at 1.27

20161104-GBPUSDIntra.png

AUD/USD

Support: 0.7666, 0.7631

Resistance: 0.77, 0.7720

Game Plan: Broke triangle wedge without conviction and follow-through, hence directionless trading continues between horizontal resistance and broken triangle wedge

20161104-AUDUSD.png

USD/CAD

Support: 1.3308

Resistance: 1.345

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 1.345 or at 1.3300

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