Building on last idea and cleaned up chart . Same information as previous (linked) except a few extra confirmed pivots. Stop moved up from 0.0368 to 0.0398, assuming a 1-2 is in and another 1-2 (small) is being put in, stop under the 0.786 of the smallest, most recent 1-2. As with all alts, upside movement is most often associated to non "crashing" of the big 2,...
GOLD: XAUUSD Gold/Dollar Play (continued) Neutral Here ahead of DXY break down
Gold longs on back of DXY weakness need to be careful here.
Still believe that the inverted flag formation on DXY chart
(right) is a continuation pattern prior to DXY dropping down
and out of the lower parallel down to 92.62. That will propel
gold as high as 1297 at least and more...
GOLD: XAUUSD Update
Gold is now testing the first resistance line at 1281 whilst DXY
is holding stubbornly above 93.99-93.94. Gold cannot rise
whilst DXY holds up. It needs DXY to break below 93.94 now
to fire gold as high as 1305. Suggest taking profits here and
only going long gold again when 1281 is broken on upside by
100 pips and it's confirmed by DXY...
Bitcoin: BTCUSD One quiet Saturday playing Bitcoin V Mon-Fri 9-5 job. Do the math.
Whilst above 7717 key near term support the bulls are still in charge here. The opening in China will likely drive price down
but it should hold up off the lower parallel and down to 7717. Touches here are buying opportunities with stops under 7000
line and if they produce pin...
Gold: XAUUSD How DXY is the gold trader's best friend right now
So far gold has behaved in the bear-mangling mode expected of it since the dollar broke
down below key support on DXY at 94.26 (right hand chart) but it wasn't too smart to let
it go again at 1290. That rally on Friday was vicious for bears - the shape of price action
as gold turned resistance at...
EURUSD It's plain to see that this this pattern is still one of continuation and eventually EUR should break the lower
parallel containing this week's minor corrective up-wave and come much lower still...so am not looking to buy dips, more
to sell the EUR rallies back to the upper parallel, looking for much lower values once the parallel gives way...
Whilst...
IMAX seems running within an upward channel, also forming a possible bear flag formation. On the other side we have the earnings coming in 2 days. So we would like to take advantage with option, and we would consider $31 March-17 Puts, last traded for $1.25
* Trade Criteria *
Date First Found- February 19, 2017
Pattern/Why- Upward channel, Possible bear flag,...
PLAY is forming a potential head & shoulder. It is rolling over & moneyflow is rolling over too. It also had insider selling recently.
It has good potential to go down from here to 28 area, and for short we have very good risk-reward ration over 5:1.
For trade we are also considering $40 January puts.
You can check our detailed analysis on PLAY in the trading...
Republican nominee Donald Trump is bad for the Mexican Economy with his trade deals, mass deportations and "The Wall". Mexican currency has priced in the worst throughout 2016.
With recent plunge in the polls and Wall Streets declaration he lost in both debates, USDMXN is a good R/R short.
S/L put at recent highs, excluding USD strength.
Profit set at the 10%...
See chart.
Support @ 1.2870
Resistance @ 1.30230
Can play the range ahead of tonight NFP release, as the market is likely to move sideways before the announcement.
After a bad ER, announced layoffs, and possible restructuring, $PAY fell to their 2/2016 low of $20.50 in AH. It will be interesting to watch the price action at the open, but my bet is to start a short position and watch it ride the rest of the day.
PLAY had a really good ER beat. It had an AH high of 44.75 but then rested at 43.80. Looking back at historical support and resistance at 43, 42.50, and 41.90. Will be interesting to watch if it pulls back to below 43 at the open but then runs toward the AH high of 44.75.
above daily and weekly cloud
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macd crossing
relative strength good
money flow growing
cci and percent r at top
Im long once price crosses above the green line in a 30 mn or 1 hr time frame. Market is exhausted and sitting on key support. The white lines are possible price action movements (definitely not gauranteed) that has a high chance of happening. usually the market likes to make an inverse head and shoulders or double bottom when it reverses so Im guess this bear...
