Since TSLA announced their stock sale at the very exuberant top (Reminiscent of the BTC 20k run) we have seen the share rapidly selling-off looking for areas of value. Here is a brief overview of the relevant technical levels to watch. The first important level of support is the 330 level which is not only major diagonal support but also major horizontal and MA...
US100 pulled back as expected after hitting the Yearly R3 pivot and quickly took the elevator down to the Monthly Pivot @ 11700. This is a strong level of support and a retrace to the Weekly Pivot @ 11940 is likely. Depending whether we break through or reject at this level will pave the way to either 12300 or back down to diagonal support (coinciding with the 4H...
Having just recently broken out of a falling wedge pattern with the 4H 200SMA prompting a re-test of the breakout, this is affording traders an excellent opportunity to get long on the pullback. For those traders who prefer a less risky entry, placing a limit order above the last swing high @ 0.914 (coinciding with the 4H 200SMA) would give you a good entry for...
Possibility of gold breaking higher here towards 1950, followed by 1975+ Stop loss can be placed at 1925
My guess is we see the Monthly pivot tested followed by either the Weekly Pivot @ 1.335 or the Monthly S1 @ 1.309
The USDZAR is at an important level with a breakout taking us to 17.05 followed by 17.35 if it manages to clear that level. However, if we get rejected here then we will likely head back to the 16.74 with a move lower towards 16.50 if that level also fails.
Bit late to the party with this one (actually forgot to post it Yesterday), but luckily there is still some ways to go for those favouring a cheeky long. Strong break from the bearish channel with a brief retest attempt of the 4H 200SMA. Target is the resistance area between the diagonal @ 0.672 and the Monthly R1 Pivot @ 0.674. Stop losses can be placed @ 0.662...
Gold is reaching the end of a large consolidation with possible breakouts to either side possible. However with the battle lines drawn, the price action would be very clear as to which side to position yourselves. Key levels to watch are the diagonal resistance @ 1950 and also diagonal support @ 1920. Any significant candle closes above either could trigger the...
AUDUSD pair still trading upwards in its bullish channel, with a recent breakout after consolidating in a symmetrical triangle pattern near the lower trendline. Bullish targets would include the Monthly R1 Pivot @ 0.728 with a stop loss to be placed just below the lower trendline @ 0.715
Gold is starting to lose the important Monthly Pivot level @ 1905, if we get a proper 4H close below it, we can see the Monthly S1 @ 1825 being tested fairly quickly. Keep in mind that a 4H close above 1940 will be bullish, so a good place to place short stops.
Gold saw a massive sell-off throughout yesterday and overnight, price now seems to be finding it's feet on the 4H 200SMA and major diagonal support. This level also coincides with the Monthly and Weekly S2 Pivots @ 1905 meaning a proper 4H close above it could be the start of the next bullish run. I will suggest keeping a tight stop loss with a stop @ 1850. Watch...
After the breakout above the 45.30 level price now seems to be pulling back towards the breakout level and granting traders another opportunity to get long. Stops can be placed @ 44.75 with a bullish target at the monthly R2 Pivot @ 47.00
Very precarious looking head and shoulders formation on BTCUSD, with only the 4H 200SMA holding the neckline. If we break lower we could quickly see 10800 and then 10600
I would be very surprised if the USDZAR manages to break below this diagonal level, however with the way it broke through the Monthly Pivot @ 16.90 it definitely cannot be ruled out. If we break lower the next stop would be 16.55 (Yearly R2 and Monthly S1 Pivot).
The breakout level has now been successfully re-tested with a slight rejection from the 4H 50 & 100 SMA's with this also being a 61.8 Fibonacci retrace. Measured targets would be just north of 1.205, while stops would be just below 1.180
The USDZAR has been teasing with a head and shoulders for a few weeks now with what appeared to be a break below the right shoulder finally happening yesterday. But now it would seem that the diagonal and 4H 100SMA could offer strong enough support to see us bounce and head back higher. This is coupled with clear bullish divergence on the MFI . The final line in...
Long Trade Idea for GBPUSD. We have arrived at the edge of the diagonal bearish trend-line going back as far as early 2018. If we break here it will be the start of a new bullish trend with more dollar weakening to be expected in the medium to long term. Initial bullish targets will be at the Monthly R1 @ 1.336 with a medium a term target closer to the Monthly R2...
Trying to get a fix on where bitcoin is heading next actually requires me to zoom out to the weekly timeframe. From here we can see that the next stops include resistance at 12200 (Monthly R1 Pivot) and then 12900 (Yearly R1 Pivot). Support will be at the previous major levels at 11000 and the breakout level at 10250.