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. It...
S&P 500 Index Update Minimum Upside Target 2794 The next long signal here was the break above the key 2675-2673 line which ideally needed to be followed by a successful retest from above after the break occurred. We got that yesterday/overnight. Today's strength in AlphaBet as much as anything has helped the S&P gap up on the open and since then it's never...
MONERO XMRUSD Another reverse head and shoulders pattern with a minimum upside target at 395 - really the break-out came 24 hours ago but this dip is worth staying close to today, looking to get long as low as possible as this cureent little consolidation phase takes place - right now this coin looks like one of the hottest around and this recent break out...
BTGUSD Yet another, smaller reverse head and shoulders pattern with a minimum upside target at 189. Look to buy dips back to the dynamic support line running under price with stops below the same line and run to 188.
ETHEREUM: ETHUSD Reverse Head and Shoulders with 1250 minimum upside target ETHEREUM ETHUSD The ETH chart shows a reverse head and shoulders formation with a minimum upside target at 1250 exactly - which also ties in with fixed resistance at 1251 line. It's tracking a well defined dynamic and remains positive whilst it does so. Tests of this line can be...
Bitcoin Bitfinex Chart Update Double Top at 9000 Witching Hour - Caution Bitcoin reached a high at 8999 on Bitfinex overnight around mignight gmt - effectively a double top here after a 50% rally. As the futures chart shows the entire range from 9000 to 9225 is a powerful resistance zone and Bitcoin is clearly struggling to make headway above here. Additionally...
BITCOIN FUTURES BTC1! Back to the Futures Yesterday's comment referred to the 50% rally from 6000 to 9000 and just a little higher - Major Gann and Tesla numbers. Weekend comments also referred to Bitcoin Futures prices and the key reistance range stretching from 8971 up to 9224 and the problems Bitcoin will likely face on encountering this...
DXY Dollar Index We were looking for DXY to show signs of bottoming prior to potential reversal to the upside last week. It made a double bottom/slightly higher low showing a loss of downside momentum, the first signal needed to show a change is in the air. Some may remember the way that Gold shifted parallels just as DXY is now doing prior it bottoming out...
DXY Dollar Index DXY is testing critical supprt at 93.04 which must continue to hold to avoid a further substantial fall to 92.74 at first, and then, after a mild bounce back to 92.55-92.50 range. Looking a little further out, the 92.50 level represents major support for the medium term. Should this level fail to hold at any point over the coming week it...
LITECOIN LTCUSD The breakout above the upper parallel of the flag formation was very disappointing. The failure has forced LTC back down the same parallel and rinsed out stale bulls along the way. It's now back to the start point and if it's going to rally now, it should be from here. Look to enter long again between 288 and 284 with stop below 282 for small...
ETHUSD At the top of its tree in near term Although ETH has struggled for a large part of the last 30 days, it has now doubled from a low at 313 to today's high at 626. Not bad for a straggler. But it's probably at its upside limits in the near term here and needs to consolidate some more below the upper parallel before it can go again. May well hammer out a...
BCHUSD Wait for this to come to you It's been a struggle today just keep around break-even here. At least the 1570 high and danger point was identified but we should have shorted there with stops above - kind of obvious now of course. The technical picture here has deteriorated today. It's broken below the parallel and this line is now acting as resistance to...
Overall dull right now but with a positive undertone, still, at these levels. We look to buy from lower, closer to 7531 if touched or, if very lucky, on any sharp fast test of the lower parallel which would also be viewed as an excellent buying opportunity, should we be lucky enough to see it later in China/London on Monday. Unlikely, but it's Bitcoin. If...
Bitcoin: BTCUSD Update/levels for longs This trade is in balance, but OK above 6450 The trend is overall positive right now barring super near term test of lower parallel and successful, so far, retest of the key level at 6450 - which looks to be the pivot for day on downside) So If broken at any point and our stop 50 points lower is struck we should look to ...
Bitcoin: BTCUSD Update Quiet: No Buyers/No sellers, yet So we got the rally from 6300 - the 6312 level has been constantly mentioned recently as a minimum downside target. And it so happens that 6301 is 20% exactly from the high, a text-book retracement. So am thinking that we need to pay it a little more respect next time we visit it, when this little counter...
BRENT CRUDE: UKOIL Have closed out the long position finally as Brent touched the upper parallel. It's the fourth strike and should come back from here. Closed at 64.33 for 1833 pips profit on a trade that carried 30 pips of risk from the outset, taking under 6 weeks to achieve. Best win of year (apart from Bitcoin, obviously) Wondering about shorting here,...
BANK index: There is an enormous Adam and Eve double top forming inside the sideways channel. This may suggest that price is going to fall back to support. However there has been a lot of bearish divergence over the past two weeks and a corrective move bullish may push price into a breakout out of the sideways channel diverging from the bearish double top. As it...