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I've been eyeballing 0.87600-0.88200 for a while. Why? Its a major resistance level from year 2013 and we're going strong towards it. Since its an important level it also acts as a magnet, and thats why I want in on the ride. Sure, we could see a bigger retrace before we finally hit this level, but I dont want to risk missing it. Why am I entering now? We...
Copper is currently sitting in a monthly range between $2.300 and $2.000 and forming a bearish consolidation pattern following the sell off from 2015 highs at $2.940 formed back in May. Price is sitting below two multi-year bearish trend lines and holding the low of $1.936 set in January 2016. Possible scenario here is a break of the wedge to the downside below...
Syndicate members there will be a video uploaded breaking down this trade shortly (I have to re-produce it), But what I'm looking for on the EURGBP is a Bullish trend continuation trade opportunity. The Red & Green boxes represent levels of structure in the market with Red being resistance & Green being Support. As you can see originally resistance held, but once...
HOPEFULLY THIS HELPS YOU GUYS! REMEMBER TO HIT THAT LIKE BUTTON! GIVE US A FOLLOW AND ASK ANY QUESTIONS IF NEEDED! THANKS TOM
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Placed 2 orders to enter half orders at the 61.8 and 78.6 retracement of XA. Downtrend clearly visible on the 1D and 4H charts
Typical market behavior for a correction phase. Let's wait if the market price levels will be exceeded to the downside, only then this could turn into a bigger type of overall (weekly) correction. As of now higher timeframe breakouts were hit, a continous trend to the upside is still possible.
This is an interesting setup for a short on the EURUSD. I've made my probability estimates based on standard indicators: 1. EMA50 2. Aroon 19 (a customised version). 3. BuySellSignal 4. ATR stop-loss by Vervoort. 5. RSI. 6. Fibonacci Key features - all considered together: 1. Established down trend is re-established by price falling below EMA50 on 4h. 2. Aroon...
Gold hit a weekly buy fractal without trading back into the balance zone. That means it didn't really want to breath, instead the pressure to go higher seems to be extensive, a weekly close above the breakout fractal level as we're seeing right now supports that. Just like in Silver, this market seems to establish a new overall uptrend.
After posting a buy fractal will be hit in Silver at around 16.00, two more weeks have passed and prices have continued upwards. It seems the weekly turnaround has happened and a new uptrend will unfold. Hold on to any longs. Stops in place. Ride the trend.
Numerous times price tried to break out to the upside on the NZDUSD Daily. It has always failed. During the last week of trading the same has happened, price wasn't able to stay above the important resistance area (marked by fractals), instead it went right back into the balance zone. It's possible a new down fractal will form soon, that would be another selling...
AAPL has undergone a huge upmove since 2009. It has created a divergence and a first leg downwards establishing a major support level. The stock is now higher, but far away from its ATH. The entire move on the weekly needs to be corrected and it is likely that the next support area could be hit (around $72)
The SPX500 has been rising ever since the worst start of the year in history. This bullish movement could come to an end now as we don't only see a divergence and prices starting to trade inside of the balance zone on the daily chart. This four hour chart shows price already tried to break through a fractal and is now sitting just on top of what looks like pretty...
Just now Silver gave a long-term buy signal on the weekly chart. Another buy fractal was taken and prices seem to want to move higher. It looks like a 4-year correction could be over with divergence and buy fractals signaling a possible new impulsive move.
Been posting this in the Chat all afternoon. Short hit at 108.45 this afternoon in USDJPY, still active and holding on to it at least until tonight's close. Will then decide whether to hold over weekend. Trendfollowing works even on such a low timeframe. Of course profit potential very limited in daytrading.