Recently, Gold broke up above intermidiate resistance/neckline. On chart, you can see inverse Head and Shoulders pattern which usually leads to reversal of previous trend. Since Reversal candle on the 1st of January of 2015 it feels much more constructive. Nice 2 days of rally after that actionable signal. Then it broke up resistance at $1,204 which later became...
AUD/USD is heading lower to major support around 0.92000 on bad unemployment data from Australia. Today, we have reversal candle near major support - actionable signal for longs with stop below low of the day at 0.92382. If todays candle will close green, then on monday we can see continuation move through high (I will add to my core).
Yesterday, price reversed and sellers managed to fill partly morning gap up. It feels a bit messy, as we are still in this slow trending up environment. But still we can approach to our markets with plan and levels to be prepared to different scenarios. So, pivot resistance is $198.10 close to previous top. After SPY broke up 2014 consolidation it entered into...
Yesterday, many banks reversed off the intrday highs and closed in red on first day of month and new quarter while broad market was setting new record highs. All indexes (Dow, Nasdaq and S&P) are on its highs and the stock managed to cover almost 2/3 of its sell off from highs. It closed right on its 21 EMA which acts like support since beginning of June. Stock...
Yeasterday US markets closed in red with QQQ -0.8%, SPY -0.9% and DIA -0.94%. But this social network reversed from lows and closed near highs. I think we are close to resolution of this wide range with upside bias because of that strength. Now we have higher low @ $143.45 and important intermidiate support @ $145 that was retested intraday. Another action...
From the beginning of the year gold was in uptrend from $1179 to $1392 (around 20%) then sold off from highs but found some buying support $1268-$1278 (around 50%-61.8%). ENTRY: This pullback is still controlled and with this 1) doji candle bounced off from support zone it gives me entry with tier1 then 2) I will add if it will hold above moving averages...
US markets (Dia, Spy) are trying to push to new highs. Money rotates to safe heaven, high dividend, large cap stocks (www.cnbc.com). Cisco is component of both indexes DowJones and S&P. It built nice inverse Head and Shoulders pattern with neckline @ $23.60ish area. And we have series of three higher lows: first is bottom @ $20.22 then right shoulder with...
Markets act very healthy as money rotates to safe heaven, high dividend, large cap stocks. (more analysis on markets in link chart) Yeasterday tech giant reversed from lows and closed near highs, means that buyers took control and regained important support at $39. Today it triggered ENTRY LONG above previous hod @ $39.51. STOP below $39 and $38.50 TARGET...
US markets covered morning losses and closed well on highs. Tech sector and small cap companies continue to diverge from S&P500 and major cap Dow Jones. It makes some traders nervous, and some say it's time for caution but we will measure price action with levels and wil continue to follow our process and rules. Market has switching gears every day, so we...
Two days ago this financial ETF failed to close above trend line and bears took control of price action. With $SPY sitting in front of resistance i am considering breakdown scenario with targets at $21.51 then $21.20 then we have 200MA at $21. Stops above $22.01 and $22.20.
It is difficult to buy here after $40 move from earning's gap but on intraday basis there we can still trade tactically keeping long in our mind. Actually, it is one of the best stocks in this choppy, range-bound market because after earnings was released it had nice, powerfull 2 days continuation move then some rest, inside days which is healthy after such a big...
First signal to reduce your expousure if you are long. Broke down and close below 8 MA first time after break up of flag. Some consolidation after big 2 days move could develop. Minor short vs intraday's high at $1314.79 makes sence. Next buyable area (and targets for those who want to be shorters from here) is at $1308 then $1304
Daily chart still in major uptrend but it is more range bound market, so it makes sence to trade tactically both sides. After it failed above resistance zone pair established downtrend. Broke below previous low of the day means that sellers are interested in lower prices. Significant support zone 1.38509-550 where i can take some off from my short position,...
Still above major trend line, building a nice upper level base, pretty wide from $64.30 to $70.40. It means that we have room for potential trade. There was Red Dog Reversal on 24th of April with nice 2 days continuation. Stopped in front of support with one day rest and another nice bullish candle which could be enough to open position. Stop loss below pivot...
Put in bottoming tails and then went through pivot high at $301.84 for additional gains and closed near highs. New point of reference is $304.58 above that i want to be a buyer till the next resistance at $311.5. Just quick trade here for another potential move up next day and a half.