With the two day holiday in Hong Kong starting tomorrow the white collar sect of Hong Kong will be joining the demonstrations condemning Xi Jinpings proposal to screen candidates for the 2017 leadership election. I am looking at the index heading back towards the lows of May with the 0.236 fib level likely to act as the next support.
The clarity of higher highs and higher lows makes this pair stand out boldly in this aggressive uptrend. Price has retraced into previous resistance (now support), and rejected the 10 ema, 0.618 Fibonacci level and is within the bullish trend channel giving a low test close appearing ready for a rally north. Entry - above today's low test Stop loss - below...
Today's bullish reversal bar has rejected the 50 ema, horizontal support at ~87.55 and trend line demonstrating a bullish rally. Hidden divergence is noted on Stochastic and RSI.
After a break below ~1.8150 and a strong move down price has retraced back to and rejected the ~1.8150 area with the 0.618 Fibonacci level being in spitting distance of it, and the 50 ema as well with a close below. Stochastic and RSI indicate convergence. Entry - below today's bearish bar Stop loss - above today's bearish bar Target - initial profit taking area...
The moving averages on CHF/JPY display shapely geometry holding the recent uptrend. There is healthy convergence on both Stochastic and RSI too. A pull back into and just short of ~115, but bouncing off the 0.382 Fibonacci level, has given what will be a bullish low test close implying a long trend continuation setup. Today's low test has also narrowly missed the...
The dilemma goes ... to short Gold or not? On the one hand, it has created new lower lows and lowers highs keeping the downtrend intact and offering a few but new shorting opportunities. Currently it has retested the ~1276 area and bounced off the 10 ema with a bearish close below. The session has been dominated by sellers but does this hold to continue sinking...
Being in a daily uptrend, USD/CAD has strongly rejected a previous support level (1.0860), and the 0.5 and 0.618 Fibonacci level in its pullback and closing on Friday 29th August 2014 above the 50ema as both an outside bar and a low test giving well-founded signs of imminent bullish continuation. A drawback to this trade would be that the weekly chart is still in...
This trade setup is pretty simple and doesn't require any rocket science. McDonald's, or MCD, is a component of the DOW30. MCD has been in a trading range on the weekly chart for quite some time now. We are currently at the bottom of this range, providing an excellent opportunity to get long. I'm using covered calls in this name to get long the stock at as cheap a...
USO has broken it's uptrend a few weeks back, and since has been heading violently lower with no signs of stopping, at least not yet. Not in my eyes. I had a plethora of converging indications, so I've marked them in the chart A - F, and then explained my trade setup. Good luck. A) RSI has broken above the 35 level, but this is likely because it bounced a bit...
The idea here isn't very difficult to understand. DAL has made a run up from $35.51 on August 8th, where we saw a bounce off the 150EMA, a personal favorite area to get long for me, especially looking at the weekly chart for this. Anyways, from the top down: 1) Bullish RSI Holding 60 Support 2) Established Uptrend - Long Term 3) Bounce off 150 EMA 4) Long $4.46...
The idea here isn't very difficult to understand. DAL has made a run up from $35.51 on August 8th, where we saw a bounce off the 150EMA, a personal favorite area to get long for me, especially looking at the weekly chart for this. Anyways, from the top down: 1) Bullish RSI Holding 60 Support 2) Established Uptrend - Long Term 3) Bounce off 150 EMA 4) Long $4.46...
Goldman Sachs is a short to me here on the daily for a quick short. I'll disclose now that on the Weekly chart I am long based on the giant indented head and shoulders and the smaller head and shoulders that makes up the right shoulder. That is in my IRA however, as I do not purchase stock (writing covered calls) in my trading account simply because it ties up too...
As I point out in the chart, MRK is in a very tight consolidation here. With the RSI holding inside of bullish territory after it's recent bounce off the 150EMA it has run into previous resistance. This resistance coincides with a sort of ascending triangle based on the higher-lows it has been making since March '14. This pattern comes to us after a long run up...
USD/CHF has found support at the previous level of resistance after breaking through once a support level at the round level of 0.9040. The pullback from the previous rally has tested this area which is also very close to the 0.382 (38.2%) Fibonacci level. The close of today's bullish price bar is above this area and the 20 ema. Both RSI and Stochastic are in...
USD/CAD is an uptrend producing basic price action cyclicity and offering trend continuation entries at the end of consistent pullbacks. Today's bullish reversal bar, though appearing to be a high test close, suggests the resumption of bullish activity back in phase with the overall trend. I'm looking at the following to take a position north: - low test close of...
Bitcoin continues its technical breakdown. On the 1-day chart the 50-day EMA has crossed below the 100-day EMA. You'll also notice Bitcoin price has dropped far below the 200-day EMA as well. In addition, Bitcoin has fallen below the Keltner Channels, which is something I had mentioned as a possibility in the past. On Balance Volume (OBV) is at an extremely low...
Of course, the projected future waves are pure speculation and I'm not expecting any patterns to repeat themselves exactly. There do exist, however, 7-year and 13-year cycles in the market that deserve consideration and further research, considering the similarities I believe to be showing quite clearly in this comparison. I have made an effort to simplify this...
Guppy EMA Trend Based Indicator Requested by 2use General RULES 1. If Fast and Slow EMA's are ALL in Uptrend. Fast EMA=Aqua Slow EMA's=Green. 2. If Fast And Slow EMA's are ALL in DownTrend. Fast EMA's=Orange Slow EMA's=Red. 3. If Conditions 1 or 2 = False the Color=Silver. 4. If Down Trend Slow EMA's = Resistance. 5. If Up Trend Slow EMA's =...