S&P 500 Potential Buy Set-Ups Clear continuation pattern as it rinses out every stale bull who jumped in at the first big impulse wave upwards and on the wrong side of this now...should make a sweet double bottom or close to - the first long is a speccy buy with stop either under today'slow at 2615 or at lowest under that last low to left of chart at...
NETFLIX NFLX Buy Neflix and Chill - but where? Volatility returning to the market is throwing up some interesting short term trading opportunites, with Netflix being a prime example... The nearest support lies at 261. If this fails today it should open up a shorting opportunity back to 228-245 range. The 245 level is important, being the start of the...
MONERO XRMUSD Short Set-Up Tessting major reistance at 213 and becoming vulnerable to the next decline. Once it breaks below the small dynamic support line running under price it should fall away to 150 again and potentially lower still.
Ripple Next Short set-up Ripple XRPUSD Approaching a major resistance point and on verge of next collapse. See what happens on each previous rally collapse. Can wait for this to fall below the small dynamic support line underpinning this rally. Once it breaks it should come back to test the structure to its left at 0.558, a fall of 30% or so and worth...
Lately GBPNZD breached the lower Elliott wave channel line around the 1.9205 region, which can suggest a bearish continuation to be in progress. Notice that rally from 1.8614 level is in three waves, which is also a sign of a temporary correction, so more weakness may follow. All said, a further break below the 1.9004 level will confirm more weakness.
EURUSD Trading the Bull Flag Formation A small bull flag looks to be in the early stages of formation. With DXY still under pressure and expected to fall away a further 2.5% to 88 over the coming weeks EUR has further upside in store. Can buy the dip back to the lower parallel of the flag - if EUR is to remain very positive there will only be 2 strikes on the...
Litecoin: LTCUSD 2 buy points: 1. On test of 240 with stops at least 5 lower, under the dynamic support line. 2. Add On a break of the dynamic above - need to see some volume pick up with the latter and a decent rally in first hour after it happens...if we see this it should pick up momentum as it rises and should then hit 283-285 before it meets profit...
BCHUSD Update What a difference a week makes. Within hours of the last comment BCH had fallen away to a low at 1631, 7 points lower than the perfect entry point at 1638, before ripping 300% higher in 6 days flat. Facebook eat your heart out. Now it's in the process of making a flag formation which will stay good so long as the rising dynamic from the beginning...
GBPUSD Another Dog that hasn't Barked Today's price action shows big spikes either side of current price, denoting uncertainty on both sides of this fight. But GBP has stood strong as the Dollar surges...what is it likely to do when the Dollar stops? Sterling has spent all year defying the bears. By the look of the flag now forming that situation looks unlikely...
GOLD and DXY Gold and Dollar Index Update DXY did come off from where it was meant to last week but has put up more than just a fight so far in the 92.74-92.50 range. The fight back was to be expected, but it's doing better than envisaged so far here - and these conclicting signals urge caution now ...no interest in getting involved in a battle of whipsaw...
Gold XAUUSD Creating a flag formation with two strikes on the lower parallel signifying it's still wanted whilst above 1286, so am buying as close to 1287.78 as possible with stop under 1286. First target 1305, then 1312-1313.
USDTRY US Dollar Turkish Lira This is striking impulse wave: and when it breaks down it's a fabulous short Cannot short this whilst within the power of this massive impulse wave. But once it falls out of the parallel it becomes a massive short - once broken, look for any retest of the parallel from the underside once broken as a second shorting opportunity...
Dollar Index: DXY So far DXY is displaying precisely the kind of technical price action you'd expect of something in the process of breaking down lower...the tiny continuation pattern with a bearish upwards slope, every move contained within the parallels that control this inverted flag formation. The dollar will try to rally from the lower parallel of the...
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...
Bitcoin: BTCUSD Almost BS free version The way this is behaving now, sliding down the upper parallel of the continuation pattern is still more bullish than bearish, though doesn't look it, granted...it can spend a while yet grinding lower but so long as it finds support from 6450 pivot this is, surprisingly, looking like it might well make a break to the upside...
Bitcoin: BTCUSD For what it's worth right now, and looking at the bigger picture and pattern developing in first moment of calm since rising from bed, believe that Bitcoin is most likely to bottom at 5098 - a long way down from here - that view will only change if Bitcoin continues to hold up around current values and then turns up and breaks through parallel as...
BCH/DOLLAR BCHUSD Short Set-up Some interesting action by this crypto pair. Take a look on the 15 minute chart at the continuation patterns over just the last couple of days, just perfect, with great entry points. If you traded this since yesterday, so far so good. But when Bitcoin bottoms it will obviously snap back, giving bears a chance to hit it ...so...
S&P 500 Index SPX500 The last short got stopped out at even - right idea, wrong double top. Now it's fallen below the parallel that's been guiding this impulse wave since summer lows...it's trying to make a feeble counter-rally back to kiss the underside of the lower parallel before it falls away again to 2566-2564 range where it should make a rally attempt...