If you're going for a Long/Call position then you may want to consider putting a tight stop loss at around 30.30 where the red line is. This is just an idea so I won’t post updates here.
Looks like we're topping out here at the peak of a massive ascending wedge. HIGHLY likely we form a beautiful high test on the quarterly chart but I'm not going to wait around for that to happen.
Martin Armstrong's Socrates signaling major trend change to downside within TLT which confirms techs.
Trade Management:
First major area of support seems to...
Trade carefully. Looks like bond will follow the new parallel channel. I marked then as LIGHT GREEN Lines. Also a dotted red line incase any one of u want 2 short safely. I would like to wait for few months or weeks till the price breaks the deep green line and then hits the lower channel light green line to go long. But if the lower green support line has been...
USDCNH may be due for a correction towards 6.60.
The Yuan has weakened to 6.70 per dollar and the pair appears overbought on a weekly and daily basis. Having failed to provide a confirmatory close above this key level, we may see a correction towards the 38% Fibonacci retracement level standing at 6.6056
In the meantime, the highly correlated Dim Sum bond ETF...
About 5 days ago, I had pointed to the possible Bearish Cypher formation on the 10-yr treasury yield . The pattern stands completed today.
Point D = 1.499% = potential reversal zone (PRZ) has been tested. As per the pattern, we should be heading down from here. For related markets this means -
US stocks may be in for correction
USD/JPY rally could run out of...
The hourly chart shows bullish price RSI divergence led to the recovery in the yield from the record low of 1.322%.
We also have a bearish cipher set up, courtesy of the recovery from record low.
Point D, which is the potential reversal zone, stands at 1.499%. This means the yield could turn lower from 1.499% or if the level is breached on the higher side on...
Aussie is amazing these days , It shows very nice trading opportunities. A lot of people are trapped here however. No reason to sell this pair for now. It can be sold only higher. We are on Major levels which show us strength. I currenthly anticipate higher prices next month . I'm waiting for more confirmation from Monthly close , If needed I will wait for Weekly...
As I had explained in my previous post, it was likely to see an 'emotional high' in these instruments, followed by a sharp decline.
After this break down, all these instruments are at a major support level once again, and in sync too.
Notes:
I'd get out of shorts here and maybe flip long in a few days.
Gold:
It might have some more room to fall, but if it...
Bought TMF on this pullback to the demand zone highlighted in yellow which sits at former resistance and should be acting as support. Use the TLT chart as a reference for entry, exit and targets.
Entry: 101.26
Stop Loss: 98.73
Target 1: 108.00
Probability for short . I want to see weekly close however. These days market is so indecisive. Most of the trades are stopped by Spikes , better to stay out. It's possible for USD/CAD to go down , up as well.
Global Equities are experiencing a relief rally after a bizarre turn on events. For some reason, the brazen murder of British M.P Jo Cox turned the increasingly large "leave" vote around, and the "remain" vote regained the led heading into Thursday's Brexit vote.
The Euro Stoxx 50 Index jumped off of technical support of 2,814 but still remains in a clear...
TNX appears to have ended its 3 wave decline. If 3 hits the common 1.618 multiple of 1 expect TNX at 4.23 before its next significant correction, which will end above 3.0, the top of wave 1 and then likely equal the ascent of 1 for wave 5...
Long TNX, short bonds...
Finally Gold completes the market risk-off 3 for rallying... we not have JPY, BONDS and GOLD all rallying - this completes the set of 3 -riskoff indicators, we are now in full bear mode for stock markets imo..
as you can tell from the US Treasuries and JPY, these riskoff assets have been gaining value for some time, gold has been lagging behind but today...
The U.S. dollar went bid following rhetoric from Federal Reserve officials that a potential rate hike could occur in June, following hotter than expected inflation data.
However, after posting on pending technical weakness here, the dollar has retreated slightly over the last few days. Price action as traded neatly within a descending channel on the daily chart,...
