Dax Index Update 31st May
The Dax fell 10 points shy of the first target at 12599 before
bouncing along with FTSE at 7600-7580.
It's since started to make a continuation pattern which can
push higher to 12798 -12830 but should eventually break the
lower smaller parallel and offer another shorting opportunity
once it does so back to 12609-12599.
DXY Dollar Index Up 4.5% now and Approaching Upside Target at 94.20
After a brief period of consolidation off the early May highs
DXY has continued onwards towards the longer term target at
94.20. it's rallied 4.5% in the last 30 days. At 94.2 it will be 5%.
Stay long here and on USDEUR and USDGBP (see relevant
charts) until we get there, or just under.
After tracking within longer term parallels so faithfully for so
long this new set, created from an earnings boost and big gap
up into a higher gear at the end of October, is much
Despite that Amazon should retest 1450 come Monday.
Any failure to hold this level will likely trigger a further wave
of selling back to 1338. It may well...
Could we go short on Google Guys?
I believe so, here we have it, prices currently above the 1140.00 Region.
We could see a potential downward pull to the 1040.00 Region, however prices would have to break out of the current congestion area with decent volume.
HAVING SAID THIS.
I believe that we still run the risk of prices reversing to the upside, essentially...
DXY Dollar Index
We've been aggressively bearish of the Dollar since that first
break below 98.5 back in early May last year. Down another
11% since then it's coming time finally to think about reversing
back long again soon. DXY has already hit and bounced from
the support line at 88.44. Below here lies a long term dynamic
support line which has...
BCHUSD Next Buy Points
BCH is coming back into a buy zone at current levels and
down to 2485 - look to accumulate on dips now with stops
below the dynamic support, looking for 283-2910 area to
begin with and up through 3177-3255 to 4100 further out in
Litecoin: LTCUSD 2 buy points:
1. On test of 240 with stops at least 5 lower, under the
dynamic support line.
2. Add On a break of the dynamic above - need to see some
volume pick up with the latter and a decent rally in first hour
after it happens...if we see this it should pick up momentum
as it rises and should then hit 283-285 before it meets profit...
Litecoin: LTCUSD Key Break Level
Litecoin is doing well considering the mess Bitcoin caused
yesterday. Bitcoin itself is making a reverse head and
shoulders, but Litcoin is displaying a different trick. It cannot
really be chased here, but slowly the bears are being rounded
up around that sloping dynamic resistance line from the highs
and soon the real battle...
A fantastic day for bulls of Bitcoin has seen it rally back
towards the highs. No stops we hit on longs and after
problems gettting long here on Thursday and staying with it
before stops got hit. Friday was kinder, steadier. We are
many hundreds of points to the good here and need to protect
profits now...See those 3 fantastic continuation...
Bitcoin: BTCUSD Over Thanksgiving Entry Points for some potentially big trades ahead: neutral in near term ahead of the action
Hoping you'll have got out of longs when that pin bar mentioned in last update coudn't be beaten. It was likely a serious player in a low volume market who knew what he was doing at an inflection point with good timing - on a holiday, but...
Although it's now testing the next line of support at 6312, unless a day trader would advise to stay short lloking for a
test of the lower parallel. Some day traders will close out here looking for a decent counter rally back to the last
support/new resistance at 6425, though the old trend line, now at 6390 may now prove so toxic that any rally...
Still marvel in amazement at the classical way that this thing behaves...It is a text-book chart of the future for absolute
sure. How long can it go on ? Time will tell..no stops at 7830 and above have been touched, so we're still riding this
monster as she dives deep, and so far haven't been thrown off her back
There is minor support at 6445,...
Bitcoin: BTCUSD Last chance for low risk entry coming up
See how the old (now dead) rising support line is still trying to kill anything that comes near it? It's still toxic...
You can see why day traders are wary of it, especially as it coincides with fixed overhead supply at the same 7350 level.
(This stuff takes too long to write and too damn often what I...