Since all the rumours of ECB QE were sold, and the actual thing was announced on early February, EUR/USD has been trading rangebound throughout 2015 with most of the price action developed in the 1,08-1,12 band. Hindsight is 20/20, but the best trades this year have been to buy the lows and sell the highs; and there's reason to believe this will hold for the...
USD/CAD is trading below the resistance at 1.2570 (04/15/2015 high). Support can be found at 1.2368 (06/02/2015 low). Nonetheless, we do not see the stronger hourly support at 1.2305 to be tested anytime soon. In the longer term, the break of the key support at 1.2352 (02/03/2015 low) indicates increasing selling pressures, which favors further medium-term...
Good 1-2-3 pattern to continue a bullish bias. Expecting to break the resistance level but maybe too extended to break now. Looking for a small pullback or flag to work off the overbought stochastic.
I'll call this "NEUTRAL" because the uptrend is still trading around the MODE, which is now 15 days and is at today's range (See chart). The DOWNTREND from the high is in place, but the price is at that mode also. So, it appears likely that we are forming a triangle here because no trend is "strong" at this point. You can see that the uptrend time expired...
Solid performance by Palladium as it storms ahead to take out several key levels. We are deviating slightly here but the daily chart shows that price failed to close above the 200 DMA and this could mean that a slight pullback in next week price action to test 780 levels but we expect the run higher to continue. Coming back to the weekly, the price action will...
As you can see price is is just at the bearish trend. if price break, it should go the top at 121-122 area. But if price bounce it should go to the Support at 118.10-118.50 area. if price break this support it should go to the bullish trend and then we can see if price bounce or not to make another trade. For many reason i didnt put in the chart i believe more...
After the dump from the smaller triangle we have entered the larger triangle again. (same top area, different bottom area) We can see some existing bullish orderbooks and insititutional investment present around key support levels on the way down as was saw when we dumped to 2060, the price immediately got shot back and then pumped on the MSFT news. Right now...
After reaching a multiyear high last Thursday, with an RSI indicating overbought and a shooting star candle indicating an imminent drop in price, the dovish tone of Draghi´s language Friday morning immediately weakened the €, resulting in a significant drop for this pair. It fell over 100 pips during his speech and about the same amount during the rest of the day!...
Bitcoin traded through the descending channel, which was completed on the selling purge through $280. Although the spike created large positive volume, price action outside the channel remains weak. This is likely to to a "buy on the dip, sell on the rip." Price action is thought to remain between a larger sideways zone between support of $357.21 and resistance...
Nice, bull candle closed near highs,that resolved wedge with bunch of inside, choppy and noisy candles. Lets see to what it leads, need to hold breakout point at $76.90. As markets recent momentum remains neutral to negative and long-term macro picture in Wal-Mart is neutral it makes probability of this trade lower. I manage probability of trades with tier...
Paypal has just announced that it will be integrating Bitcoin into the payment protocol with a bit more involvement then previously thought. Paypal's subsidiary Braintree was given the go ahead to announce it's involvement with Bitcoin just recently. The price has moved strongly in wake of the news and continues to move toward key resistance points on our...
So here we are, S&P 500 at 2,000, bears have good arguments and bulls have good arguments as well. As of right now, I have no idea where equities are going, I'll let the market tell me. But here is a quick trade idea I got today. By the way, please correct me if there is something wrong in my analysis as this is my first real market-neutral trade that does not...
Support level 1240.00 is the key answer for this question. The price structure forms a triangle that can be both continuation and reversal pattern, depending on the which side it will breakout form. However, the price action within the triangle itself may indicate the direction of the breakout. Bullish, if it managed to rebound off support level 1240.00 and...
Is all on the chart :) Got in at $76.92 now up at a substantial gain at over $10. The only thing that makes sense to do is wait for a short if/when this support level is broken, but in this market? I'm setting up for a downward biased, neutral trade. Check out related idea for reference, and thanks for viewing!
As I point out in the chart, MRK is in a very tight consolidation here. With the RSI holding inside of bullish territory after it's recent bounce off the 150EMA it has run into previous resistance. This resistance coincides with a sort of ascending triangle based on the higher-lows it has been making since March '14. This pattern comes to us after a long run up...
Hi to everyone! I would like to share to you an excellent method for trading BTCUSD on neutral and long positions. I use a MA30 (moving average of 30 periods) + Elder's Bull and Bear Power indicators on H4 or D. Buy process: When MA30 changes trend from downtrend to uptrend + candlestick is over the MA30 + both indicators are above 0 level = BUY Sell process /...
we can see on hourly chart there is a bullish gartley pattern that will confirmed at around 101.118 then not only that, we have bearish bat pattern will confirmed at around 101.700 if we go to 4H chart, we can see the bearish cypher will confirmed if price hit around 102.06. if we go to daily timeframe, we can see the 26.18 trade the double bottom, the RSI...
Fundamentally, the euro is not looking so good. But I always trade what is on my charts . Price has formed a Bat pattern and also a cypher pattern (credit goes to user eXcess0070 for informing me there is also a cypher possibility)... Hidden Bullish divergence on the RSI tells me maybe the Euro is not completely done and have some fight left in him. . PRZ zone is...