Daily Market AnalysisThe Daily Market Analysis that was posted for October 13, 2015 (by 7am) and is made available to all clients that have purchased the Gold, Silver, Platinum or Diamond package is below.  As you can see, the daily market analysis was on target as the Magenta Peaks did come in.

The Daily Market Analysis analyzes what will likely happen in the markets for that particular day.  The analysis is based on the ADX indicator, Trend Average Trend Range indicator, and Directional Volume indicator.

Abbreviations: CD = Congestion Dot; ATR = Average True Range Stop; MP = ADX Magenta Peak; RB = Reversal Bar; WB = Wide Bar

Daily Market Analysis – EURJPY

  • 1440
    • Currently finding resistance at the 136.50 area (prior congestion dots on 720 and 180)
  • 720
    • Has retraced to prior congestion dot and had a MP indicating retracement to ATR. However, the prior CD may hold price up.
  • 180
    • Congestion Zone from 136.75 (ATR) to 135.74 (CD). Heading to ATR now to retest.
  • 45
    • Congestion Zone from ATR (136.09) to CD at 136.50. Tested ATR and buyers stepped in on low.

Analysis:

Should at least go back up to 136.50 to retest for buyers.


Daily Market Analysis – EURUSD

  • 1440
    • Flipped ATR and moving above all resistance
  • 720
    • Broke CD and moving up
  • 180
    • MP came in and retracement completed to ATR. Now moving up again.
  • 45
    • MP earlier and retracement completed.

Analysis:

Potential longs only.


Daily Market Analysis – GBPJPY:

  • 1440
    • Moved down off of ATR
  • 720
    • Moved down off CD at 185.09 and flipped ATR to red.
  • 180
    • Flipped ATR , retested prior CD (green line) and moved down on wide bar.
  • 45
    • Tested Pivot Line earlier (coincided with prior CD from 180) and sellers stepped in on high. Has moved down past the S2 level; just checked for sellers and there were none. Should continue down but there was a wide bar on 180 so use caution.

Analysis:

Shorts only as the ADX is not oversold on any timeframe. There may be a retracement of wide bar as it came in on 180 minute chart but I’m not seeing any support for the retracement.


Daily Market Analysis – USDJPY

  • 1440
    • Moving sideways, mainly down
  • 720
    • Almost at ATR (119.50) below price.
  • 180
    • Moving down and at a prior level of support (119.70)
  • 45
    • At S2 with MP. Could see retracement to 119.86.

Analysis:

Long off 3 minute if setup comes in; watch to see if MP forms on 180 which could push price up. ADX is not oversold on any timeframe.


Daily Market Analysis – Crude:

  • 1440
    • Broke through resistance at Monthly Resistance area but could not sustain.
  • 720
    • Came down off monthly resistance and flipped ATR to red. CD at 45.43.
  • 180
    • Down and hitting multiple levels of support from 180 previously.
  • 45
    • Wide bar down and at S1. Selling divergence on wide bar indicates retracement.

Analysis:

Expect a retracement of wide bar (50% minimum) and then may resume downtrend to CD at 45.43.


 

Daily Market Analysis – Gold

  • 1440
    • At prior resistance level and forming reversal bar to downside.
  • 720
    • At prior resistance level (daily) and moving down off MP.
  • 180
    • Congestion Zone – ATR at 1165.8 and CD at 1149.
  • 45
    • MP has already retraced, expect more down movement.

Analysis:

Sweet spot indicated on daily and 720 down to 1146.5 and, therefore, short only is recommended.


 

Daily Market Analysis – NQ

  • 1440
    • Testing prior level for support now at 4340.
  • 720
    • Testing prior level for support now at 4340.
  • 180
    • Congestion Zone – CD at 4327.5 and ATR at 4387. Wide bar down to the support area at 4340 so we could see retracement up to ATR to test for resistance.
  • 45
    • MP forming that will take price back to 4365 at this time.

Analysis:

Initial long position and then analyze volume at ATR on 45 to see if upward movement will roll over to the 180 minute..


Daily Market Analysis – YM

  • 1440
    • Tested the 17100 area and forming RB to downside.
  • 720
    • RB to downside and potential MP coming in which will push price down to 16738 or 16800.
  • 180
    • MP and retracement to ATR completed.
  • 45
    • MP pushing price up to 17018.

Analysis:

Longs off 3 minute to ATR on 45 minute, then possible shorts may come in.