Looking for NZDCAD longs within the area of interest between .8847 - .8781.
Entry: 23.2 Stop loss : 20.9 (-10%) Great volume profile with higher volume on green days and lower volume on red days. 2-3 shakeouts during the basing period. Showed high relative strength during early September correction Bullish MACD
There could be more EUR strength around the corner if the EUR index can close above it's daily 20 EMA . Forming a low here could be a sign of a change in the pitch of the ascending channel which will create or continue EUR pair uptrends. If so, that EUR strength will start to show in my relative strength analysis and pairing the weaker currencies with the...
Ok, boring first, as I suspected it would be quite a calm week for USD as it ought to digest its previous downtrend move. The USD has been staying in the range without any hints of what direction the breakout would occur in. So let's wait and see what happens the upcoming week. If there are some decisive moves towards the range boundaries, we can devise a plan...
Stocks fell hard after the June 10 Federal Reserve meeting. The S&P 500 bounced after holding 3,000, and some interesting changes have occurred amid the volatility. Simply put, money is rotating back to “growth” and away from “value.” Recent weeks saw a big surge of interest in beaten-down “reopening” stocks like airlines, banks, industrials, energy. But now it’s...
I'm not exactly thrilled about this SUPPLY ZONE. There was too much time spent there. But it is with the trend on the DAILY chart, a downtrend, and the CAD is weakest of the big 8 currencies while the JPY is strongest. It may take a while but I expect price to drop for a while for a possible 3:1 on the 4 hour chart.
Relative Strength shows when a stock is outperforming peers. It can be very useful when the market corrects, like we saw last week. Crisis often turns into opportunity once the dust settles. One of the biggest surprises from RS recently is the strength in Chinese names. Despite coronavirus originating on the Mainland, many of the country's big liquid stocks have...
IRBT - I'm expecting a move up. What I like: - Half-assed inverse head and shoulders on a daily - Start of an uptrend (albeit disorganized and choppy) - Relative strength with the indexes down over 1% - Holding closest symmetry support at $50.20 - Cluster of symmetry support from $47-48.33 with the uptrend line -786 fib retracement at $49.31 - Big ass gap...
Continued analysis from: If AUD is not able to rebound above the white line and finds support, expect AUD to go back down towards the lower blue trendline, possibly finding support above the 0.9 SGD psychological and VPVR level. If AUD manages to break back above the white trendline and finds support, it will likely continue with the upward trend -- range-bound...
Staples have been outperforming Discretionary for a few months, but looks like trend could break soon
Fastly has been consolidating on the weekly chart since early November. We are now seeing the Slow Stochastic exit an oversold condition while turning positive for the first time on the weekly chart. I would like to see the RSI finally get back above 50 & hold but I placed a Note icon to point out how to potential bottom had a lot of volume behind it. The price is...
BREAKOUT AFTER BACK UP ACTION SUGGEST COMPLETION OF ACCUMULATION AND FURTHER ADVANCE Wyckoff Story Long-term price structure of higher highs and higher lows suggest accumulation Breakout in Phase D confirms accumulation Absorption bar #1 and #2 has supply followed by successful tests Absorption bar #2 has less supply than Absorption bar #1 and it happened at...
DRI had a gap up on an earnings announcement back on March 21st. The top of this gap became support while the stock price continued to rise. This rise in price created a bearish divergence with the RSI indicator. The earnings release in September led to a gap down. The price actually consolidated just below the March gap. Friday's trading has the price testing...
Decent acumulation in recent days.
Recent stron GAP, Relative Strengh at new high and strong EPS.
One of the questions I like to ask aspiring traders is this: are you bullish or bearish anything right now? It seems like a dumb question but it actually gives a wealth of information regarding the trader’s mindset and whether he is thinking multidimensionally or not. Compare these 2 replies: I’m currently bearish on USDJPY. I see strength in JPY across the...