I believe USDJPY is getting ready for another rally, as the correction seems to be losing the bear power. The greenback remains the strongest currency, whereas the JPY is still very weak (although, I must admit, the AUD is the weakest now). Perhaps it's not going to rise straight away, but soon at least. The momentm seems to be favourable now and all that is left...
CCI is showing oversold. major trend is up and for now the price sits on the major outer trendline. Fresh demand level is reached. Im expecting the price will go up to the supply level and touch the upper trendline inside the supply level.
Key Trend Lines A couple interesting trend lines for you guys to watch out for. The white arrow is representing a 40% increase in 20 days. I do see a sharp move like this coming, once the current triangle is broken.
In November, the bitcoin market had a surge of volatility because of a huge short squeeze that caused the price to go up about 50%. This, along with several other technical signals, suggests to me that bitcoin may be transitioning into an uptrend. Since the lows in the upper 200s in October, we have had a series of higher lows and some higher highs as well....
Everyone has a different opinion about the answer to this question. I have learned that any day can be the right day to begin a trade or investment. The real question is how to limit the risk. This goes for Long and Short investments. Why didn't you buy AAPL at $80? Did you think it had jumped too much after the $5 gap up? This gap up was nice for current...
If you want to try AAPL Long right here, just use UT 2 (the green uptrend line) as your guide. It could be a short ride but you never know... As long as AAPL is above UT 2, stay the course. But if AAPL closes below UT 2 before you have profits, get out of the trade. Once you have profits you have the ability to make "small adjustments" to trend lines. Just...
Trend lines are a great way to invest. That is only my opinion of coarse. This chart is a 60 minute chart so remember the trend lines may not last as long as those on daily or weekly charts. But horizontal lines of support & resistance can last for a very long time. Take a look at the blue horizontal line. You can see that this $79ish level has been a place...
Everyone is wondering: "How long is this trend going to last?" Well, I have a rule: "Keep beating the line that works until... it beats you". So I still have a bullish bias about this market looking to enter again as price comes closer to the bull trend line. USDJPY has been one of the strongest markets since the end of October and it is so at the moment (in terms...
SBAC has been on a strong bull run since the beginning of 2012 and began to be of interest when it broke above $60 later that year. However, trading it from the daily would have required quite wide stops to accommodate the frequent, fairly prolonged and deep pullbacks. The set-up in the last few days looks promising but I would want to wait and see a more linear...
There is not much historical data on this stock so longer-term trend trading opportunities are out for me. However, PANW gapped up on higher volume yesterday. Price is well clear of the $100 figure and is continuing to make higher highs. The bar was extremely bullish and only marginally larger than previous bars. If the gap doesn't get filled this could be a...
ODFL is a good trending stock, but volume is fairly thin. This can affect liquidly when entering and exiting trades. The weekly uptrend has been long and linear - the pullbacks have become a little deeper but are more than acceptable on this timeframe. On the daily chart, however, the pullbacks have caused a bit more of a concern. During early 2014 there were...
ABC has been in an uptrend for many years - with some periods of pullback and sideway movement on the way. In more recent times a mini pattern had emerged (on the daily chart) of a move up followed by several weeks of consolidation. This can be frustrating, even for longer-term traders. But since the gap up (on earnings and higher volume) on 30th October a...
For just over a year XRAY has been trying to break through the 2007 resistance of $47.84. During this time a double bottom chart pattern formed on the weekly chart - which can be a strong indication of a continuation of the previous up trend. Since breaking through the $50 resistance zone in early November, price has retraced to test this line (with resistance...
If CADJPY returns to the lower median line parallel, there should be a buying opportunity at that level, esp. because it would coincide with the prior highs. The CAD is currently the strongest currency, while the JPY is the weakest, which makes this pair a perfect match for trading long. Now I wonder, if we're going to see new highs, or perhaps the time has come...
ROST could offer a good near-term buy on Fridays' gap up on higher volume. The bar was very bullish - adding to the momentum to the upside - and easily cleared the 2013 pivot high. For longer-term traders, however, the large gap up could easily be filled - so we would want to see some sort of pullback or retest of the 2013 high before considering this a buy...
APD has been in an uptrend all year but the deep pullbacks have made it too unpredictable to long-term trade so far. On the daily chart an inverted head and shoulders chart pattern offered an opportunity to trade a measured move up. Since the break of the pivot high (which also confirmed the H&S pattern) there have been two gaps up on slightly higher...
Following the long-term uptrend of USDCAD, as key Canadian economic indices are set to be announced 30 minutes from now.
AGN often crops up on my watchlist. It has been in a bull trend for several years but frequently experiences prolonged consolidationary periods. The stock has been in an uptrend since earlier this year but got into a $145-$175 range from May to October. But, despite the market-wide October pullback, AGN manage to break out of this range, retest the previous...