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...
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...
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...
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,...