GrantShuttleworth

GrantShuttleworth

I had to go all the way up to the monthly to find some kind of pattern because everything else is pure chaos. I don't trade these timeframes and wont be trading this instrument but this looks like a short squeeze right here. There is a reason its doing this. Equities are at all time highs, dollar is weakening, vix is falling. Still cannot bring myself to be a...

GrantShuttleworth

Regression shows reversals off 2nd deviation channel. Every time it reversed it made it back to the mean. The market might be looking for fundamentals to create a reason to go short. Something to consider.

GrantShuttleworth

Confluence between regression channel and swing high. I am short. If it pops up higher then I will try another short higher up at about 2900 if there are signs to do so.

GrantShuttleworth

What I am seeing: Price has been rejected in this supply zone on a few occasions near price level 1.08900 Price has been accepted at a demand zone near price level 1.08200 My plan: Reversals out of supply back into demand. Concerns: Buying appears strong. Selling appears to be weak. Technically this looks like buyers are lurking below but for the time...

GrantShuttleworth

Short FIB rally back into 50-80 zone Reason for short: 1. Triple bounce at top of channel. 2. Break of swing low level at 23800

GrantShuttleworth

Dollar is strong across the board. If this pushes higher then hopefully it will get into an overextended condition and might be good opportunity to take a short. Must be patient. For long positions, anything that pulls back to the bottom of the rising channel has a potential for a long.

GrantShuttleworth

S&P looked like exhaustion at the overall 50% retrace on the daily. Will wait for a rally back into fib zone to take a short.

GrantShuttleworth

Reason: 4 hour chart shows what looks like exhaustive buying as price looks like it is leaning over and could not break the prior swing high. Strategy: Rally up could be protected by 0.638. Stop will be placed beyond this price level. Top of descending channel would coincide with approximately 705 fib retrace.

GrantShuttleworth

Looks like second attempt to push higher was stopped at 1300. Price is currently at support of 1269 and should it break this level and hold then 1220 looks like an easy target. A double bottom could be forming here (which could mean a push back up to 1300) but to me it looks like bears are still firmly in control.

GrantShuttleworth

Im still short biased as the recent bear candles are strong which is inline with the preceding selloff. Bulls have a lot of strong levels to break through. Bears have it a lot easier. This could be accumulation though. Have to wait and see, Ill be cautious with longs.

GrantShuttleworth

Price respected fib extension and now rallying to resistance

GrantShuttleworth

With no major news releases coming up I think that gold is going to bounce around inside a zone for a while. Carving up all the hopeful traders and giving money to the clever range players.

GrantShuttleworth

Reason 1. Quiet week ahead I will wait for price to break this range before taking a position. There have been 3 attempts at resistance which leads me to think that players need liquidity and will go hunting within this range

GrantShuttleworth

Reason 1. Bear trap. Price dug in to trap the shorts 2. very strong upward move here If price breaks my level I will be looking for longs back up to 50 area.

GrantShuttleworth

Reason 1. I think if we continue to see dollar strength then the emerging markets will continue to weaken. 2. This is also a big round number level. Traders will be reacting here. Hopefully a pinbar will give us an opportunity on this one.

GrantShuttleworth

Although price has reversed here a few times before, I would be watching for a push below this level as the big players look for liquidity. If price breaks 45 Ill look for opportunities to the 50 level. A break below and the obvious target is 40. Ill be watching this one closely.

GrantShuttleworth

Reason 1. Strong day level with 3 prior reversals I will look for signs that price is rejected here. Hoping for a nice stop hunting spike through the level that will leave behind a pinbar or something

GrantShuttleworth

Reason The only reason is that it is a day level and price has reacted strongly in this area in the past.