Weekly Bonus Technicals 8 November 2015


Weekly Bonus Analysis Video: GBPUSD, SP500 and US30Y ( 5 min  44 sec)

TEXT:
Hello everybody .... welcome to our Weekly Analysis Video ..I’m Stef Breschi and today is Sunday 8th November 2015.
Today’s analysis covers Sterling where we had a great trade last week, the S&P500 index and the US Treasury Long bond ….…as always the rest of the markets we follow will be analyzed for the privilege of our STTS Subscribers only.
GBPUSD
(Daily Chart) We had a great trade last week. We went Short at 1.5388 expecting a breakout of the inside bar formation and both our targets (1.5245 and 1.5140) were met in the violent sell-off of the last 2 sessions. We now wish we had a trailing stop but still .. a great trade for R:R=3.15.
Next week we expect price to retrace back to 1.5110 level which should act as resistance having been prior support (change of polarity) where we will be looking for a signal to go Short again.
(Weekly Chart) if the market does continue to the downside next minor support is at 1.4950 and nothing below that until 1.4635.
SP500
(Weekly Chart) the market broke above 2100 and out of the doji from 2 weeks ago and although 2100 has still acted as resistance, a higher high/low combination was set so the market remains in bullish mode.
We have been waiting for a retracement ever since we took our profit on last month’s Long but we haven’t had one. Hopefully we’ll get one this week, but …
(Daily Chart) the daily chart shows price still inside last Tuesday’s outside candle having made 2 attempts to break to the downside but failing both times. So we may not get a retracement after all. Early this week we will be looking at the lower time frames for any Buy signals.
US 30Y
((Weekly Chart) price broke out of the triangular pattern and has now met with key 152.00 support. The momentum of this weekly bearish candle does suggest this support will struggle to hold.
(Daily Chart) as you all know last week we had a Short trade which entered into and later the next day exited for a small profit, missing out on both our original targets being hit the day after. Shame! This coming week we will be looking for either a Short on a retracement or, if the market breaks through 152.00 support we will hope for a retracement to it for a Short there.
Unless of course we get a clear Reversal signal at 152.00.
 
Thank you for watching .. please take a look at our subscription service STTS (Short Term Trade Setups) which covers also other major currencies and other markets which we are likely to be trading.
Come and find us on tff-onlinetrading.com/market analysis
Have a great week!

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