Please comment on this chart if you have time.

Go to barchart.com and use symbol AP*0.

 

Interesting.Thanks mate.

and yes im with bell.

 

Hey TD,

The original is a weekly chart.Updated version below but doesn't display much movement.

Below that,daily and the 60 min for same recent period.

I tried to condense the 60 min to also show the 2021 highs but it was not very clear.

 

Wrong.

 

Yo Vin,

So a slight extra monthly charge for US data but I can trade the
micro eminisp.Broker decsription is :

They are 1/10th the size of the normal contracts.

So for example the micro S&P is $5 USD per point and only $1300 usd margin.

Is that what you guys call the ES or is that different again?

 

My fault.Ive made it a bit messy.

Was a debut thread start so rookie errors.

 

Are you trading SPI at the moment Getthat?

 

Yea spi and xjo options but mainly the options. I might be starting a journal in the next few weeks on these markets only so I'll let you know if I go ahead.
Whose your broker at Bell?

 

Cool.Thatd be interesting.

E O'C if those initials mean anything to you.haha

 

Thanks for the info. Makes sense that there is not much movement in the weekly chart cuz it's not even a week yet and that chart only gets one bar per each week's passing. LOL

The shorter term chart of daily and 60 min. both show slightly more downward bias. And the shorter the tf, the stronger the downward bias but they are still not exhibiting a significant downtrend as the PA is still making higher low's. To me, a clear downtrend would be if the PA is making both lower high's and lower low's. I believe the uptrend is still in the play but it's that you are going to see the price going down in the interim.

In the long run from the weekly chart's point of view, the uptrend is still in play but the price is currently in a congestion zone so you are going to see some back and forth up and down PA until it breaks out of that zone to go up further. The shorter tf is going to play out the congestion and you are gonna see some downward movement.

So how you trade is going to depend on which tf you trade on. If you want to trade in the shorter tf than weekly, you can short whenever the price makes a top with stops at the top and keep in mind the uptrend that still exists in the weekly tf so be prepared to reverse either when the stop is taken out and/or after tp'ing cuz the downtrend might not last long. If you are trading longer tf like the weekly tf, then you can either wait until it breaks out of the congestion zone at the right end of the pennant that I marked on the original chart or you can enter long right now while waiting for the breakout.

This is my 2 cents. Hope it helped you in some way.