Using Chris Moody's Slingshot System to identify aggressive entry points, in yellow. Prices tend to cross past or into the sling before big trend-following moves. The price has bounced off the top of the channel and appears to be respecting the resistance. USDCAD is in an H4 downtrend. Recommended SL: 1.266 Recommended TP: 1.253
About 8 hours ago we got the golden cross and that provided the final confirmation for entry. I stayed up late to make sure that I didn’t miss it. There was good volume behind the pump and I expected us to breakthrough $8,200 while I was sleeping. Unfortunately the price has pulled back for another $8,000 retest. The bulls mounted a good defense right before the...
Parabolic SARS, Awesome Oscillator and Accelerator are almost perfectly lined up and red. With previous bold down candle, this is a strong sell signal. Recommended SL: 1.2363 Recommended TP: 1.23102
Over the past 24 hours I have been watching for the golden cross to provide final confirmation for a long entry. Support has held strong above $7,900 and the resistance is slowly being eaten away. If we can break through then the next area of resistance will be $8,950. After that the next major areas of resistance are $9,450 and $12,450. Any of those targets...
Parabolic SARS, Awesome Oscillator (AO), and Accelerator have been lined up almost perfectly for a sell signal. The AO has much downside potential towards a support level. The Accelerator has also crossed down and has downside potential. There was a slight pullback after the signal, albeit it was not able to break past the previous down candle. It has been...
Over the past few days we have been on red alert, awaiting final confirmation that the bear market is over. Step 1: Break through bear trend (red line) Step 2: Turn that trend line into support Step 3: Golden Cross on 50/200 day SMA We crossed off the first two steps over the past 3 days, and now the moving averages are threatening to cross in the next 12-24...
Im not too keen on diagonal head and shoulders but this looks like a good opportunity given that it stays below the neckline after market open (Y)
Follow me and check the related ideas below to learn more details of USDJPY. Good luck
Over the past few days we have been on red alert, awaiting final confirmation that this bear market is over. Step 1: Break through bear trend (red line) Step 2: Turn that trend line into support Step 3: Golden Cross on 50/200 day SMA In yesterday’s post I pointed out the dragonfly doji that was forming on top of the trend line and was watching for the price to...
Yesterday I made a neutral post and advised everyone to wait on the sidelines for further confirmation. Before entering a long I need to see the price find support above the bear trend (red line). As I am typing this a dragonfly doji is forming on top of the trend line. If that closes then it could provide an opportunity to enter a long. The stop loss would be...
The 4 hour hasn't been overly helpful lately but I just wanted to post that there is a 9 coming up very soon and the candles are looking toppy. There maybe be a small short opportunity here but only for the short term, 1-4 candles max so keep a tight stop in place, keep an eye on it and preserve your capital.
Over the past couple days we have been on red alert for breaking the cursed bear trend (red line). The first step was to support above $7,500 after the massive rally from yesterday. The second step was to bust through the trend line on large volume. The third step is to find support above the trend line. We did see good volume on the breakout, however the price...
Yesterday I mentioned that the amount of short sellers had gone parabolic and said if we could get the price above $7,155 then a massive short squeeze would be triggered. This morning I was very excited to see that the bulls were able to get the job done! Resistance came in like clockwork on the longer term bear trend (red line). The wick on top of the 4 hour...
PSARS has popped below the bars while AO and accelerator are green. This is a BUY signal with some probability of being late. STOP: 1.25775 TARGET PRICE: 1.26994
PSARS, Awesome Oscillator, and Accelerator all lined up for a SELL signal. Between 60-80% reliability. Most likely a continuation of the downtrend before yesterday's pullback.