CAD/CHF fell more than 20% from 8/2012 to 3/2014 and since then has been rallying. Even in the face of falling oil and easing by the SNB the Loonie rallied. Since 10/6 price has been pushing against the .8600 and failing to break the level and move higher. This area is a 38.2% fibo retracement of the aforementioned high and low. There is a minor...
AUD/CAD continues to fall in a bullish descending triangle that will ultimately result in a sharp move to the upside for AUD/CAD. Within this triangle price is now moving against the trend toward the .97 support/resistance level where price should reverse and head lower. Look for resistance to hold and for the TSI to reverse below its signal lines.
Since 3/19 the Euro has been selling against the CAD in spite of lower oil prices. More Euro buying led to a period of consolidation from 9/4 to where price is now. While price made a new low on 11/24 price now is higher. The 1.4450 level has served as support and resistance on 7/4, 7/23, 10/16, and again today. While price has rallied recently the broader...
The AUD/JPY rally from 10/16 to the 11/21 peak was remarkable but since then price has been selling. From a fundamental stand point both currencies have reasons to weaken however the Japanese have acted more decisively in weakening their currency. Price is now sitting on a potential line of support. Will the bounce come here and send price over 100 and beyond?
The VIX or Volatility Index looks like it has found some support in the short term. In reality, the VIX acts very much like a 30(ish) delta S&P 500 put. It is not exactly the fear index all the talking heads make it out to be. 98% of the time it is higher when the S&P is lower and vice versa on the S&P rally. The VIX seems to have bottomed at 13, trend line...
$AUDNZD is in an ascending wedge pattern that has now pulled back to its rising trend line. A spinning top candle needs confirmation to confirm the bounce. Once rallied to resistance an opportunity to break through to higher levels presents itself.
$CADJPY going higher after a confirmed hammer and a bullish turn in the stochastic. The broader trend is bullish and after the recent correction prices should go higher from here. The target 101.67 is the fib extension of 08/08 92.74 low, the 9/19 99.80 high, and the 10/16 92.88 low. We'll follow up as the trade matures.
There is prior horizontal support @ .7740. I made the chart 3 day chart so it’s easier to see. The stochastic which is a trailing indicator looks like its thinking about curling up. I am not long but this is looking like the start of a possible reversal
Using unusual volume and Option Expiration Fridays as pivot points to draw out 45 day and 7 day trend line cycles, I'm predicting that TSLA will have a retracement near the $269 price - correlated to the 50% Fibonacci Retracement overlay. I've drawn out a couple of 7-day cycle trends that are not biased validations. Stop Loss price at the previous support of...
Volume is building, and a bullish engulfing candle was formed, which pushed through resistance. The next test will be the .382 fib area @ 65.18 which has been choppy. See noted on the chart. I am looking to purchase calls, this stocks PE ratio is below the sectors average.
I was encouraged to look at shorter time frames - including the 4-hour - to see trends in the Bitcoin. It is a good practice and I generally do look at time frames down to about the 30-minute. As you can see by looking at the 4-hour Keltner Channels the top of the channels is around $506.45, so you may not want to get too excited by the recent price movement...
My prior chart mentioned the possibility of a short term sell off creating a "buy the dip" moment in $TLT and here it is. There is no sign that the rally in treasuries is abating. Interesting to watch stocks and bonds rally together - who will fail first?
The failed harami reversal signal teaches us that a failed signal is as valuable as a validated one! Price has broken support as is falling in a sharp pitchfork to the next support level.
Looked like the Euro might build a base from consolidation but in fact only moved lower. The negative Aroon spiked back up and the stochastic sold off hard. I believe the Euro will move much lower in the days and weeks to come.
With a hanging man candlestick pattern failing to develop and SPY once again overbought its do or die for the market bears. Price is now in the vicinity of prior resistance and in position to rally to the uptrending upper parallel of this pitchfork. I need to see one more big push and I will most likely be getting long on SPY
Bitcoin price has fallen through all the triangles drawn on this chart - including the big green symmetrical triangle based on the $339.79 low. Bitcoin price failed to reach escape velocity after breaking out of Andrews' Pitchfork and could never break above descending blue price trigger line. At this point, there is the possibility that price falls back into the...
Bitcoin continues its technical breakdown. On the 1-day chart the 50-day EMA has crossed below the 100-day EMA. You'll also notice Bitcoin price has dropped far below the 200-day EMA as well. In addition, Bitcoin has fallen below the Keltner Channels, which is something I had mentioned as a possibility in the past. On Balance Volume (OBV) is at an extremely low...
The Aroon crossover is not a good sign for SPY bulls (if there are any left). While there isn't any negative momentum at the moment the bearish setup many have been talking about may be forming.