OK so i got a little bit excited analysing this pair, ill give you a breakdown of the higher timeframes and leave it to you to find a safe entry on the lower timeframes! Monthly MA's crossed bearish Bearish engulfing candle (January) Broke major support at 137.000 & Retested Next monthly support at 115.00 Weekly Trendline broken Weekly engulfing...
AFTER THE BATTLE OF DOWNWARD CHOP A POOL OF BLOOD APPEARS THIS IS SPARTA!!!!!
We have hit the last stand with UMC as we are likely to see a slide in the stock leading to a triple top
THE CLASSIC PSYCHOLOGY OF A MARKET CYCLE. WE SEE THESE EMOTIONS THROUGH RETAIL INVESTORS WORLDWIDE. MAKE SURE YOU HAVE 20/20 HINDSIGHT ON GOLD BEFORE YOU GET CAUGHT IN THE HERD. REMEMBER, NO BIAS. @YUNGFINANCE
BULL SCENARIO: BREAKS THOUGH PREVIOUS RESISTANCE AND STARTS BULLWAVE BEAR SCENARIO: BREAKS TRENDLINE AND FALLS BACK INTO ITS REGULAR DOWNTREND
HISTORY WILL CONTINUE TO REPEAT ITSELF IN EVERY ASPECT OF LIFE UNTIL WE BEGIN TO EXPECT IT. FOR SOME REASON, WE HAVE YET TO LEARN OUR LESSON IN THE TECH SECTOR. THIS CHART PROVIDES TWO OF THE GREATEST TECH PUMP AND DUMPS IN THE HISTORY OF TECH STOCKS, NORTEL NETWORKS AND BLACKBERRY. IN THEIR PRIME, THESE COMPANIES WERE KNOWN TO BE THE HOTTEST COMPANIES IN TECH....
ALL CURRENCY PAIRS IN WHICH THE USD IS THE DENOMINATOR HAVE BEEN FOLLOWING A SIMILAR ARC SHAPE SINCE THE 2009 RECESSION. AS WE CAN SEE HERE, JPYUSD, CADUSD HAVE REACHED THEIR PREVIOUS SUPPORT AREAS. ONE CURRENCY PAIR THAT HASNT REACHED ITS PREVIOUS LOW IS THE AUDUSD. ALL MARKETS WORK TOGETHER, THEREFORE I BELIEVE THIS PAIR IS LAGGING COMPARED TO IS RELATIVES....
AUDUSD HAS BEEN FORMING A MONTH-LONG WEDGE, AS WELL AS A DOWNWARD PITCHFORK. AUDUSD IS ABOUT TO INTERACT WITH THE BOTTOM SUPPORT OF THE WEDGE, BOTTOM SUPPORT OF THE PITCHFORK, AS WELL AS HITTING A FIB LINE. IF BOUNCES, LONG, IF BREAKS ALL THREE SUPPORTS, MAJOR WEAKNESS SIGN. CREDIT TO: ICETRADING FOR THE ORIGINAL PITCHFORK CONCEPT.
"WHY YOU SHOULDNT BE WORRIED ABOUT ANOTHER RECESSION, AND WHY YOU SHOULD BE DUMPING YOUR MONEY INTO THE STOCK MARKET RIGHT NOW" "INVEST IN AMERICAN INDICIES, SLEEP FOR 20 YEARS, AND WAKE UP RICH" @YUNGFINANCE
UPCOMING SUPPORT LEVELS FOR EURUSD: 1.07689 1.02866 1.01068 1.00 (PSYCHOLOGICAL BARRIER) 0.96072 ETC. ETC, NEXT FIB SUPPORT AT 1.00, NOT MUCH UPCOMING SUPPORT, EURUSD WILL MOST LIKELY BREAK PARITY (1.00)
Bearish Trend could continue if we see positive NFP results for the USD, If the respected level is broken we could see a major crash in the price of Gold.
Trading today has been bearish for the stock as people take profits near resistance. However, the Chaikin Money Flow (CMF) is above zero which says the bullish trend is still in effect. The CMF operates regardless of how bullish or bearish market participants may opine to be one day or the next. As seen on the chart the trend remains upwards as the CMF is above...
Wedge Pattern. Rejection at 0.382 Fib level. Formed a H4 Inverted hammer. Hit support and resistance. Crude oil strengthening. Widening concerns about Eurozone. Higher Highs and Lower Lows. Time to short.