Analysis for swing trade: See my previous post on bullish swing strategy for this pair . An end-of-week close above current shadow resistance we will have a successful swing breakout. Swing bulls should then push to next shadow between 1.3519 and 1.3565. Current zone could offer entry. Analysis for day trade: Continue long with current week white candle....
Analysis for swing traders: Look for short continuation. Need to follow closely for price reaction as pair is already now inside major shadow. Way to know if current shadow offers resistance is see how pair closes end of week i.e. above or below current shadow. Analysis for day traders: Rightfully should proceed with long in line with current white week candle but...
Analysis for swing traders: Rising USD amidst rising rates is bearish for XAGUSD because of inverse correlation. With triangle consolidation pattern support and resistance boundaries are clearly defined. XAGUSD is at resistance now. Combined with pink shadow on top this setup favours sell. Pink setup is drawn from previous week closes see notes below. Analysis...
No rally lasts forever unless it is the Zimbabwean style i.e. hyper-inflationary sort of rally. We can carry on looking for long entries but some effort should be put on to spot danger signs. Current price action could be a consolidation for higher gain or topping action for correction/reversal. Higher gain could use current action as a base or support. ...
XLE and WTI demonstrate high level of correlation i.e. move in same direction. XLE provides stock-ETF alternative for traders who do not trade WTI. Interesting to note that WTI has outperformed XLE since Q4 2017 while the latter was capped at a 2-year high printed in December 2016. Bullish view of WTI and XLE in previous piece I was looking for swing long WTI...
Analysis for swing traders: WTI is now sitting on shadow based on two lines 66.22 and 65.72. This shadow form basis for potential turning point. Since trend is down-up-down expect next move up. This week's high is 66.26 so take that as verification that top of shadow 66.22 is valid. Lower line 65.72 is drawn from March 19 high but this level was last week's...
Analysis for swing traders: Current trend is up-down-up so next leg is down. Look for short continuation. Shadow provide potential turning point. This week high touched the lowest of a 4-line shadow so there is small initial reaction. Look for sell signal but no hurry to sell into an up week. Analysis for day traders: Continue bullish with current white week...
Analysis for swing trade: Current trend is down-up-down so next leg up. Swing traders look for turning point offered at shadow zones. Analysis for day trade: Day traders continue short with current black weekly candle. Shadows offer TP. Notes: Technical Analysis states that previous turning points offer future potential support resistance zones. 1. Attach a...
Analysis for swing traders: USDJPY swing should be looking for long continuation but big parallel channel overhead could be major resistance. Analysis for day traders: Current week candle is white so continue to look for long until next shadow. Notes: Technical Analysis states that previous turning points offer future potential support resistance zones. 1....
Analysis for swing traders: GBPUSD is looking for the next major resistance. Look for dark shadows to offer next turning point. Analysis for day traders: Current momentum long with white week candle. Continue to long exercise caution at next major dark shadow. Notes: Technical Analysis states that previous turning points offer future potential support resistance...
EURUSD is currently in retracement leg up. Next leg is down. Trend is down. EURUSD is looking for the next major resistance. Look for dark shadows to offer next turning point. Notes: Technical Analysis states that previous turning points offer future potential support resistance zones. 1. Attach a horizontal line at each turning point in the past 12 months on...