Weekly Time & Price – W/C 14th April 2014

This week we are focusing on the S&P500 once again, but first we need to have a quick review of the EURUSD from last week.

EURUSD (Weekly Time & Price – W/C 7th April 2014):

We were looking for a LOW on the daily chart – in it came right on cue, I’m long the EURUSD, I caught the absolute bottom bar (at time of writing) and the trade is now NEUTRAL, from a risk perspective, well in fact I’m 100+ pips in profit by way of a stop in the market and I’ve also taken a portion of the position off so I know this trade will will produce a minimum of 1R return regardless.

I have no idea if I’m right on this low call or not – Price is in the current expected Price and Time zones as last weeks analysis showed, the WEEKLY chart should ideally punch HIGHER to complete its Price and Time zones, but that’s not necessary – we’ll just have to wait and see what actually happens.  the point is I took a speculative position on the EURUSD follow a signal to go long on one of my trading set-ups, It’s bounced enough to be a profitable trade of which I’ve secured part of those profits, I’d love it to head higher, it might, it might not – that’s the part of the trade that I have absolutely no control over, all I can do is manage the trade to try to eek the most out of it.

When I next review the EURUSD in 2 weeks time we might be hunting for a short-term top, but we’ll see the position for that then.

Right let’s take a look at the S&P500, because it has been having a nice move:

Swing File Analysis:

Weekly S&P500 Time & Price

First we need to remind ourselves that we were looking for a HIGH in the S&P500 from the last Weekly Time and Price analysis – Price is now in both the Price and Time zones to complete a WEEKLY HIGH.

Daily S&P500 Time & Price

The DAILY chart is now looking for a LOW, the decline is in the typical PRICE & TIME zone for a low to occur too, but we can also see the other dates too.

Fibonacci Analysis:

Weekly S&P500 Time & Price FIB

Daily S&P500 Time & Price FIB

 

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