tramline

olly_price olly_price USDJPY, D, Long ,
USDJPY: USDJPY: bounce off support up to structure
52 0 3
USDJPY, D Long
USDJPY: bounce off support up to structure

After the severe appreciation of the YEN we are likely to see it bounce back, especially given that there is a level of support in the form of a falling wedge. I think that it is likely to bounce up to the structural level of resistance as indicated by the horizontal black line. I see no fundamental reason for a prolonged period of USD strengthening against the ...

olly_price olly_price GBPJPY, 60, Short ,
GBPJPY: GBPJPY: strong resistance with bearish divergence
28 0 2
GBPJPY, 60 Short
GBPJPY: strong resistance with bearish divergence

Strong sell signals on this pair. Has hit a strong resistance level on an uptrend with very strong bearish divergence on the RSI.

olly_price olly_price UKOIL, 240, Short ,
UKOIL: Crude oil channel with good structure
65 0 1
UKOIL, 240 Short
Crude oil channel with good structure

Crude oil has hit the resistance of a channel at a point where the market has previously met structural resistance. Alberta fire has been completely priced in now and caused a quite unnecessary rally in prices which is over. There is fundamentally room for a strong move down in the coming days.

olly_price olly_price GER30, D,
GER30: DAX tramline trade opportunity
104 0 3
GER30, D
DAX tramline trade opportunity

Could buy the DAX with the hope that it will rebound back off this support line. Be wary of the fact that it could easily break below this support, so keep a tight stop loss or maybe even plan to short instead of buying now.

olly_price olly_price GER30, 120, Long ,
GER30: DAX possible tramline trade
124 0 1
GER30, 120 Long
DAX possible tramline trade

Nice area of support and resistance providing positions of entry. Could go long now with a profit target at the resistance line in the tramline. My target would be 10310...

olly_price olly_price GBPAUD, 60, Long ,
GBPAUD: GBPAUD bullish Gartley pattern creating rebound off support.
51 0 1
GBPAUD, 60 Long
GBPAUD bullish Gartley pattern creating rebound off support.

Very good XA:CD 1:1 ratio falling into 0.786 and 1.272 confluence. Enter the trade at 2.02724. This lands at the support level of the tramline as indicated on the chart by the black lines. Stop loss based on previous structure.

olly_price olly_price USDGBP, D, Long ,
USDGBP: USDGBP tramline trade
76 0 1
USDGBP, D Long
USDGBP tramline trade

Possible continued strength of the USD against the GBP. Fundamentally I can see this happening over the coming weeks. Neither countries are posting outstanding economic results, but the USD has the added bonus that the Fed are currently in a rate hiking cycle.

olly_price olly_price XAUUSD, W, Short ,
XAUUSD: Year-end gold prediction: $970-$1030
148 0 2
XAUUSD, W Short
Year-end gold prediction: $970-$1030

Technicals This very strong trendline has been lasting for gold for some time now, and I don't expect it to stop, and it has just been touched, so this looks like a very good place to get in with a short position if you agree with this outlook (many will disagree!). Disadvantages The US economic data is currently not bad, but not great, and consumer spending most ...

TomP TomP DGE, D, Long ,
DGE: Hoast of indications for a potential rise in Diageo.
20 0 0
DGE, D Long
Hoast of indications for a potential rise in Diageo.

Despite the recent rally in the FTSE 100, Diageo has lagged the market. However, potential buyers may come in around 1757 as this is: 1-the base of the tram line I have drawn in. Tramlines offer great low risk entries and you can often anticipate where the price will bounce by locating a trend line and then drawing a parallel one through the lowest low like I have ...

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