Hi Guys,
Gold is pulling back from 1.310 once again but is still above 400SMA and supported by 200SMA.
The double top may present an opportunity for a breakout of the 200SMA towards 1.294. However, in view of forthcoming FOMC meeting due today, intraday positioning is highly risky therefore not reccomended.
On March 10, I posted a H4 chart presenting an H&S...
Hi Guys,
the scenario hasn't changed much since my last post. DXY still looking bearish into mid week11. FOMC meeting due tomorrow.
50SMA keeps pushing despite divergence with RSI. A,B and C are lower lows. RSI is making higher lows compared to price.
If the index re-climbs above 1000SMA and crosses the 50SMA for the upside at the same time, DXY may commence ...
Hi Guys,
since my last post on Tuesday, Gold made a run to hit 1.320 following FOMC meeting on Wednesday. The precious metal received a boost after the US Federal Reserve signalled no further rate hikes this year and balance sheet reduction.
Following FOMC meeting though, Gold retraced 0.618 Fib of the move made the previous day and AToW is struggling to keep...
Hi Guys,
I've just seen a tweet from @PeterBrandt (twitter.com) that shows a "common bottom".
Well, in week9 - beginning week10; Gold made a "common bottom" XAB.
What happened next is an attempt to regain and consolidate above 1300 throughout week10.
At the moment BD are higher lows and AC are higher highs. RSI just above 50.
Gold squeezed between 200 (support)...
Hi Guys,
please note that the formation inside the circle was made right on supportive SMA.
Following the pannant made on Monday and the run made this morning, price pulled back from 59,50 to return below 59 and find support on the ascending SMA at approx 58,73 and bounced to gap up right after release of API Weekly Crude Oil Stock which was supportive for bulls....
Hi Guys,
following my previsous post on US Oil (related ideas linked below) please note that the formation inside the circle made today may be a pennant that could trigger some bullishness into mid-week if sentiment picks up.
Thank you for your support and for sharing your ideas.
Don't forget to put a like if you appreciate the post and to follow me if you...
Hi Guys,
Last week US Oil broke higher above the latest Trump's tweet with a run started on Wednesday. Price consolidated above Trump's tweet level with a triple bottom support throughout Thu, Fri and this morning before resuming the run pushed by the 90SMA.
TO NOTE: RSI spiked briefly above 70 but lower than previous highs. Price instead kept going higher. IMHO...
Hi Guys,
according to the Daily chart of USD/JPY that I posted on Feb 2, 2019 and the principle of negative correlations between their moves, GOLD is about to run towards the 166SMA with approx target/support at 1.260/1.240.
Since USD/JPY reached the level of the blue bold horizontal line at 112 with a bullish move, I would expect GOLD to unfold a bearish move....
Hi Guys,
the black bold arrow below indicates the divergence in the RSI.
Such divergence was formed between last Friday and this morning and may prompt a run into the 50SMA. Don't think Index will cross it before FED meeting on Wednesday though.
Don't forget to put a like if you appreciate the post and to follow me if you want to receive notifications on new and...
Hi Guys,
DXY started the week forming a small divergence between the two last price lows A/B and RSI.
AToW RSI is crossing 50 line whilst price is stopped by 50SMA pushing down. If push fails, price may reach last Friday's hights before tomorrow to wait for FED meeting on Wednesday.
Thank you for your support and for sharing your ideas.
Don't forget to put a...
Hi Guys,
as you know I am obsessed with inverted (negative) correlations between GOLD vs USD/JPY. Week11 may be the start of one of these moments when their moves are negatively correlated.
However this is not the topic of this idea. The topic of this post is the same as my previous post on Gold. "Common bottoms". And USD/JPY made a "common bottom" in week10...
EURUSD, together with GBPUSD and USDCHF is a big winner for week 10. They moved as expected in our Week 10 analysis and holding them through the week would have no surprises for the traders trading these pairs. Congrats to traders making the wonderful trades.
In Week 10, we see EURUSD making big movement and ending the week with a sharp V shape reversal. I am in...
USDJPY did not move as expected in week 10, rather, it consolidated and seems to complete a big reversal formation.
In Week 10, it did not rise, but rather formed a seemingly inverted U shape, which indicates a reversal. It seems like the bull power is dying off and the trend would be moved by the Bear.
In Week 10, USDJPY still remains an unsure pair even...
USDCHF moved exactly to what we expected, pretty much like what happened to our analysis of GBPUSD. I hope you managed to make good profit out of it.
in week 10, USDCHF completed its 3 level bullish trend. On Friday, it made a fast reversal, no double top seen on the H1 chart.
The reversal can be seen as a inverted V, and it broke a new level, so we do not...
GBPUSD moved as expected for week 10, and if we were to enter a short starting Monday, you would enjoy a straight profit through the week, how awesome is that.
In week 10, we the GBPUSD completed a 3 level bearish move, it was a great move and I am sure it trapped many short traders.
Looking at the current analysis, the GBPUSD seems to be forming the second...
