Shanghai and emerging markets are about to take another beating. I'm betting against South Africa since they are in worse shape and a client state of China
Bought along the bottom rising trendline. RSI oversold at 30 on 6month chart and showing signs of a buy with a reversal of the 50 and 100ema. Expecting at the least a bounce.
Nice long term triangle forming on the daily chart with 100ema acting as current resistance. Fourth touch of the red resistance line for possible breakout. Looking for entry along trendline.
Buy volume since the beginning of the year has dramatically decreased (#1), and price pressure is showing a bearish divergence (#2) in the third screen . At first I was somewhat confused how price was attempting to breakout again- facing a strong resistance area (previous ATH set in Jan), while buy volume has decreased a lot compared to the volume of buying seen...
If this is a head and shoulders play, we have a target much lower. 1.12288 is a Fib support line, which is the next target lower, and will then see if the H&S plays out down to 1.05160
Look @ yellowish lines and you can see the same pattern forming. Oversold RSI and green bottomer exactly the same levels as Feb dip & rip.
Long term wedge broken again. Expect an interest rate raise from Powell if it continues.
Alright lads. Take a good look at this bad boy. Long City
TVC:NDX DJ:DJI SP:SPX ES1! YM1! NQ1! This 1 hour chart show us that had already exceeded the 50 and 100 EMA, about to reach the dreaded 200SMA, BUT he has decided to tweet again, which puts a brake on all long positions and we enter the Ichimoku cloud which indicates a great dance of ups and downs turning a battle of #Bearish vs. #Bullish in the...
From the start of MAGA (Make America Great Again) POINT BRIDGE GOP STOCK TRACKER ETF started around September 7th it has been climbing. Around October 5th it reached its point climbing around 5.99%. In the last month is has only gained 0.42%, and in the last week lost 0.23%. This ETF is a compilation of companies that invested the most during Trumps election. I...
-We're getting to the top of long-term range -Jackson Hole conference at the end of this week will host both Yellen and Draghi -Draghi will IMO be dovish to smaller or higher extend as per his latest comments of Euro "overshooting in repricing by financial markets" -Other circumstances indicate he wont be hawkish (no QE tapering for now -Will enter the trade as...
-Continuation pattern to support uptrend. -Once it breaks out 21,032 level, it will swing up to 22,000 level. -Moving averages are still supporting current trend. -A wise old man once said, "the trend is your friend till it breaks"
OANDA:XAUUSD looks like it got rejected once again by the Wall of Trump resistance and needs one more pullback in my opinion 4H Timeframe View: It broke below the 20MA/50MA and looks like a hammer was formed which indicates a possible top formation Short: 1249.240 Stop: 1254 Target 1: 1234 The 200MA at the 4H Timeframe might provide decent support so I...
OANDA:XAUUSD has broken out of the downtrend after the 1260 rejection and with hourly timeframe moving averages confirming the trend change. Bulls are still in the game and it looks like it will have another try against the Wall of Trump resistance. No big positions as of yet as I expected a pullback that didn't materialize and it consolidated for 2 days...
My previous trade banking on a daily reversal failed so looks like FX_IDC:XAUUSD is on a last stand as the 50MA daily support(1210) needs to hold if bulls have any chance of turning the trend around. Its possible the downward momentum may continue till Non-Farm Payroll release on friday. Entry: 1225.45 SL: 1227.5 TP: 1210 Any feebacks are appreciated!
After breaking out of the bullish triangle, FX_IDC:XAUUSD shot up to the 1260 level. Its flight was halted because of the previous support turned resistance that was broken after the Trump Victory and not only that but 3 Moving averages from the Daily, Weekly and Monthly time frames. In my opinion FX_IDC:XAUUSD will have difficulties breaking this level so...