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CADCHF | Perspective for the new weekCommodity markets struggle to rebound, but the Canadian dollar remained under strong pressure even at the latter part of last week trading session. The appearance of a Double Top structure ( a strong reversal pattern) on the chart confirms that the price has found a peak @ Fr0.75000 and has since the beginning of May 2021 continue to find lower lows which culminated in the Breakdown of Key level @ Fr0.74000 - a level that has kept price "supported" for 42days. Tendency: Downtrend (Bearish) Structure: Breakdown | Supply & Demand | Reversal pattern (Double Top) Observation: i. i. Double Top: Confirmation of an extremely bearish technical reversal pattern that formed after the price reached a peak two consecutive times with a moderate decline between the two highs insinuates a risk of further decline in the coming week(s). ii. A successful Breakdown of the Neckline area (Key level) on the 9th of June 2021 was followed by multiple rejections of the same zone. iii. Multiple rejections of the Fr0.74000 area projects a new supply niche for future selling opportunity @ Fr0.7400/0.74400; this is evident in the activities that occurred in the latter part of last week trading session. iv. Shooting star: the price tried to rise significantly during the last two days (17th/18th June 2021), but then the sellers took over and pushed the price back down toward the open of the previous day to close below the neckline. v. In this regard, it appears to be appropriate that we look for a trading opportunity below the neckline in the coming week... Trade consciously! 😊 Trading plan: SELL confirmation with a minimum potential profit of 220 pips. Risk/Reward : 1:8 Potential Duration: 6 to 12days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry
This is just the beginningCommodity prices are still going, several commodities have gone past all time highs, such as Palladium, Lumber, Steel... And grains are also going up very strongly, Corn hit an 8 year high after 6 years of price stability, and they're all not far from ATH. Corn imports have fallen as buyers are put off by the high prices (they are going against the trend, what if it never goes back down?). Soybean demand should continue to increase, it is in high demand for the green transition (as a meat replacement, fuel additive or replacement, lubricant, etc). And based on past years it seems farmers do not sell before summer (they plant in April-May). This is now the 12th month in a row food prices have been going up. History will show this was more than just some short term fluctuation or some economic recovery. If we look at the past 10 years we might expect that soybean volatility is set to soar, every year as farmers plant their crops volatility increases by about 50%. It fits with what you would expect after a range breakout, a trend that gets stronger and stronger ending parabolic (and bears screaming "this is ridiculous"), followed by a significant correction. Corn has been the big runner and I think I will avoid it now, but wheat is interesting, after a long period of being choppy and lagging behind other grains, it has gone vertical finally! If this keeps going I will look to go long wheat on a pullback. Resistance (ATH) is far away: The price stopped at the $15 psychological level, gathered reinforcements, and then continued up. In many ways the situation is similar to 2007, but much crazier, with Rudolf Havenstein running the central bank. We have seen this several times in the last year: After hesitating a bit around resistance, the price makes a new high giving confirmation to sidelines traders. No reason to think this time is different, and as more people notice the trend it can be expected to get stronger. We can look at previous vertical price rallies, and expect it to go at least to $18. It does not make sense to me that the rally would stop now. It would be like a big truck running at full speed instantly stopping for no reason. On the weekly chart clearly it does not have that much distance left to get to all time high, it's not far fetched at all, especially with all the other commodities that went well beyond ATH. The trick is getting in on H4 to grab a fantastic risk to reward. The main difficulty with these crazy vertical price moves is you can never enter and once you get in it reverse. But with Soybeans... It is granting perfect pullbacks and breakouts, at least it has for the past 9 months. And cherry on the cake, it could just fly past ATH, again. Who knows how far it can go? If this was the winter low volatility, what could the year peak volatility be? Up 25% in a week? Hey it's even possible it ends up in the news and retail goes insane and starts a bubble with dumb money arguments "new paradigm", "market of 7 billion eaters with the green transition", "we are very early" and so on. The past centuries were full of all sorts of commodity bubbles, tulips that's the one everyone knows about, rabbits, silk, and others ones no one knows about but still have a few traces left in old books.
CBOT:ZS1!Long
by MrRenev
3
CCI - Forming a rising wedge, short at the break of $87 to $80CCI is building a rising wedge formation. If this breaks down below the 50 day moving average at $87, it could be an easy drop down to $80 * Trade Criteria * Date First Found- January 13, 2017, new trade criteria- February 19, 2017 Pattern/Why- Rising wedge formation Entry Target Criteria- Break of $87.0 Exit Target Criteria- $80 Stop Loss Criteria- N/A Please check back for Trade updates. (Note: Trade update is little delayed here.)
NYSE:CCIShort
by AcornWealthCorp
Largest Uranium Miner Uranium is no longer a topic of conversation like it used to be. That's a good thing. Average historical uranium prices in the 80s - 2000s was $10 per pound with an occasional low of $7-8. Uranium spot is currently trading at ~$18 per pound. I think prices could easily get cut in half, especially with cheap energy prices. Prices of Cameco Corp imply a similar trajectory and drop in magnitude of 40-50%, followed by a signal of forming a historical bottom. I'm interested in buying long dated puts on Cameco on any rally with targets in my orange zone. I will be looking for a long opportunity should price reach the orange zone.
NYSE:CCJ
by Lanmar
KSS: Key Hidden Levels signalsIn this chart I describe the trading signals generated by Tim West's techniques, in particular the methods revolving around the RgMov and Key Earnings Support indicators. You can see signals that failed are very few, and the trade setups obtained in one year have been really precise if executed correctly. If you're interested in learning the specifics of this discipline, and getting information of new stocks to watch, trade setups fresh from the oven, or in private tuition or trading signals, contact me, and don't forget to stop by the KHL chatroom ( www.tradingview.com ), where me, my good friend Nick Coulby and our mentor, Tim West, usually share ideas and commentary, and new members and subscribers to the indicator pack, can discuss and ask for advice as well. Cheers, Ivan Labrie.
NYSE:KSS
by IvanLabrie
EURUSD due for the awaited correctionEURUSD pair has started showing sign of weakness on daily with each new low (MACD, RSI, CCI positive divergences), approaching the low of March, which was the lowest rate since over a decade. The long strategy here is to find entries for an anticipated correction, whether by hunting and accumulating longs on lower timeframes or wait for the confirmation next days if it breaks up the falling wedge, or both, depending on the risk profile of this trade, which seems now as a countertrend trade on higher timeframes. Happy Trading, everyone!
Long
by Aurocks_AIF
BTC/USD Daily Closeup Confirms Bullishness.A close up look at the daily chart shows us several signs of bullishness. The first is our CCI Corrections. Weekly CCI has shown us a very recent surge above +100 and Daily CCI is nearing the nought line. Any bounce off the nought line and the current dip will be a bullish reversal. Additionally The signal line used for my CCI System (soon to be published) is curled upwards and bullish in color. UberTrend is also in agreement giving us a bullish supertrend and plotting entry signals for us as Stochastic is oversold. A further signal is the bounce at support right below the 0.764 Fibonacci retracement level. The doji from yesterday shows us market indecision and leads us to the possibility of a 2 bar reversal over the weekend.
BITFINEX:BTCUSDLong
by miyako.pro