I remain fundamentally bearish on this pair, given the rate divergence with the FED (RBA cut its rate recently and might cut again this year while FED is expected to hike it around the summer). The RBA price target for this pair is 0,7500 (some 250 pips lower than the current price). Recent commentary by governor Stevens was less dovish than expected which led to...
Crude oil is making new grounds with it soon to come with its reverse pull back, same thing happened in 2009 although there is a possibility that crude can slide to support at 40$. either way i will be easing my way into a positions using the ETF UWTI which is priced very cheaply at 3$ a share. also a big shout out to @Ricker for showing me UWTI
As we take a step back and look at the bigger picture, you'll notice we're right at baseline support at the bear trap before the big China bubble. I would advise being patient with this one because there are still a number of possible scenarios that could play out. I'm becoming slightly more bullish but still looking for a possible double bottom at $16x. No...
I don't typically watch oil too much but with all that's been in the news over the past few weeks how could I resist. Also being involved in the USDCAD trade that I shared with you guys last week caused me to keep one eye open as well. Anyway, despite the fundamentals (some of which are screaming short) the technicals are what matter to me most and in a heavy...
The crude oil prices rose 12 percent during the last two weeks of trading, from recent low at 46.66 to about 52 dollars today. The crude oil futures recent rally might show the beginning of its recovery to higher prices. Is that a sign of the plunge’s end? Politics, oil producers, and technical analysis (Bollinger Bands & RSI) give answers. Full blog post here:...
We seem to have established a floor for this support around $210 near the last area of consolidation before the big Coinbase pump. The market is now forming a massive descending triangle by making lower highs on very weak volume. This pattern will be validated if and when the price dips below intraday support at $220 again. The market had a similar, albeit...
two scenarios which could happen. price could bounce off the support turned resistance where it is at now or it could extend higher and then bounce off the next structure level.
Many are suggesting that this pair could drop even further and make new lower low and have cited potential bearish H&S pattern and prior strong bearish move to support the idea of continuation of the bearish trend. However I do not feel that this is likely for the following reasons: 1. Having dropped from 2008 high to 2012 low is now in recovery or retracement...
Head and shoulder reversal pattern drawn on the chart. Price is falling toward the neck line (resistance turned support) which is confluent with the 50-61.8% retracement area. Possible Long set up, will see how this one plays out.
USDCAD has had a long rally which started back in June last year. After nearly 3 quarters of run up the hill, the price action shows signs of an evident reversal. How can reversal be expected at the highs ? Studying the price action, we could see that the pair has had a very consistent uptrend for a long time with consistent pull backs and trend resumption but the...
1. Good Fundamental 2. Break pivot 3. Bullish Engulfing with RISING volume 4. Break Downtrend (short)
Hi all Risk Takers, Here's an idea written for short term traders, tech stock investors and all Apple fans. (1) On the 1 Hourly Chart, we observed clearly that price is trading in a general uptrend line, since May 2014. Evidence of Support are found during May 2014 and Oct 2014 (Up arrows). There are also signs of potential support around Jan 2015 period but...
As you can see in the chart, this whole down leg (from mid November) has been a sequence of break support, make lower low, retest breakout level (support turned resistance), break support etc. You can see in the chart where each retest has occurred and we are now at that level again. We are also ~$10 off the 10 November 2013 low. To me this says we should see a...
The point I'm trying to make with this chart is that currently taking no position at all is the best choice. A bet on a continuing bull market would result in a 1:1 risk/reward, which is bad. Shorting might be an option that I didn't consider.
Hi Fellow Risk Takers, Here is a Reversal Breakout idea on CISCO (CSCO). (1) During 2008 crisis period, price of Cisco has plunged from around $33 to as low as $13.50 (-56%), which signals an obvious bearish trend. (2) Between March 2009 to August 2011, price has consolidated sideways in a large range ($27.50 – $13.50). We also note the formation of 2...
What we have here on the GBPJPY is a potential Bearish Cypher pattern completion forming within a retracement leg of the underlying trend. This pair has spend 6 straight days being bearish so it wouldn't surprise me at all if we saw some relief. So the question is IF we're going to get a pullback THEN where is price action likely to go? 9See how I snuck that...
I'm now targeting the $265-$280 area. It turns out my descending triangle was actually a bullish descending wedge. I'm now long and watching $190 strong support. It may not be immediately, but somehow, sometime, we are going to reach that $270 area again. Price is bouncing at support as I type this, so I'm thinking this may be it despite the lack of a real...
Recently, Gold broke up above intermidiate resistance/neckline. On chart, you can see inverse Head and Shoulders pattern which usually leads to reversal of previous trend. Since Reversal candle on the 1st of January of 2015 it feels much more constructive. Nice 2 days of rally after that actionable signal. Then it broke up resistance at $1,204 which later became...