Approaching a bounce zone perhaps...Preparing for Scalp Mode off the 50/DMA...

Closed out Second third of long at yesterdays close, with remaining third hedged in profit...

Needs to bounce from the lower trend-line, or else my stops will be hit at the close...

Mid section of the blue trend band coiled in a 'Triangle' at its zenith showing a bearish 'Dark Cloud Cover' type candle.

  The Daily - Blue up-trend line and the black dotted lateral line need to hold, otherwise the 62% Fib will have been its high point on this move...

Is hesitating at its 20/Week average...

Oil - Is reaching for its 'W' bottom objective...

$Silver - Pressing into the down-trend line once again. The McD is in bullish mode here.

The Daily shows a more immediate resistance line too...

$Gold - On this weekly we see a 'Tri Star' set-up..seen clearer on the side-bar zoom-in... A red candle followed by a 'Doji' followed by a white Candle.

Need to see the McD cross up over the signal line...

Is the dip on the FTSE just a back-test of the breakout line?.

Look for the 10/Week average to hold.

Otherwise the Blue Dotted lower line of Bearish 'Wedge' will have conceded and the Bullish 'Wedge' (black) is in play with an objective up to the lower line of the bearish 'Wedge' (back-test) prior to a larger sell-off...

USD - Plotted a three candle 'Tri Star' set-up on the broken support re-test, leaving a 'Bear Flag' in its trail...

Certainly got the hesitation and more at the 'Wedge' objective, 62% Fib and yesterdays 'Dark Cloud Cover' it was imperative to hedge off and/or raise stops.

I would like t think it a back-test of the breakout but we'll see, otherwise $12 is in range...

Hope the charts have been of help - and have a great weekend.

Failed at the immediate dotted red line and subsequently fell to the lower line and breaching the neckline in the process.

The 'Hammers' on the daily failed to confirm, and price moved to the lower 'wedge' line where we can hope for those 20/50MA's to offer support.

The 60Min CCI's flagged the drop when they both lost the 100 line, so see if the zero line holds to give a bounce off the 252/MA.

Look for the all the WM%R 20 lines to hold on the final Daily chart...

I beg your pardon.

GDX - Has tagged the first pattern objective, and had a wobble due to FOMC, but it was rather muted.

On the 60Min we can see it has popped above the 'Wedge' which is not unusual, so a drop could ensue, otherwise a run up to 21.48 would negate the 'Wedge' and usher in the potential for an 'Inv H&S' to plot.

As perhaps can better be seen here on the Daily (Red Dotted Potential Neckline)notice also the 'Spinning Top' Candle left yesterday, if a red candle follows today that will plot a bearish 'Morning Star' set-up...

Also be aware of the current tag of the 62%Fib retrace shown on the daily.

Take notice of the overhead resistance shown on the second daily too...

The last chart shows the averages and how they are becoming bullishly aligned. 10 above the 20 above the 50 etc.. However they are still below the 200/MA, also you can see yesterdays 'Doji' candle is outside the top BB...

Hedging longs and raising stops to lock in profits is my approach as with over 200 points in credit at £10pp is not to be let slip.

Would like to see it break the immediate dotted red resistance, otherwise the potential is there for a 'H&S' or a test of the lower trend, dotted red.

The daily shows a neat hammer right on the line, which may indicate completion of this dip to the 20/50/DMA's...