3/28/2017 TEX has left the balance area on top and is looking for support below. Next area of support (Target 1) is 28.50 and Target 2 will be the 200 Daily Moving Average.
took a small position in hbi as like to get in early if i can, Share prices have almost halved since the 4 for 1 split and i think some dividend investors could find interest at this level expecting 50% gains if goes well. will be looking to add after break of the downtrend. will update
had my eye on mylan and i am now long looking good with a target of $50
looks like bullflag continuation to me volume confirmation breaking the kumo senkou line. head and shoulder reversal is done big bounce off support should go higher
Gold closed 6.6 points higher in the first full day of trading after the Fed announced a new interest rate hike. Price closed above many of the moving averages, including the 6, 8 50 and 100. It also closed above the 21 week moving average. In addition, as I called out yesterday, price did tag the 21 day moving average as was expected after the close above the 6...
The Fed today announced an increase in the Fed rate. This was not a surprise. What was surprising is the Gold rally that followed. In fact, Gold blasted through all resistance levels, including the 6 and 8 day moving averages, the 50 day moving average and the 21 weekly moving average. The Heikin-Ashi chart also shows a dramatic change of direction (see...
As the United States and the rest of the world wait to hear if the Fed will raise interest rates tomorrow at 2:00 pm EST, Gold continued moving sideways right at the 1200 price level. Price did remain under the 6 day moving average and under all other significant moving averages as I have been pointing out this last week. In addition, we have now finished our 10th...
Gold slowly consolidated today after selling off 5 points at the start of the overnight session. Then at the end of the day, price fell through the magical 1200 level (magical only because it's a nice round number :-) ). We now await the non-farm payroll numbers tomorrow at 8:30 am EST. If the ADP numbers yesterday are an indication, this number may beat the 200k...
Gold closed the day at 1208.1, down 7.5 points. As I called out in last night's post, there were 4 levels of support today that could have stopped Gold's decline. However, as a continued sign that the bear move is well underway, none of those levels held. To remind you, those levels were: Gold Support Levels Lower Bollinger Band - 1214.70 21 Week Moving...
3/3 - INTC has been consolidating between 35 and 36.50. Intel has been consolidating after the last rally. From a patter perspective (I'm not a huge pattern guy) it has formed a triangle, and it is on the lowest part of the balancing area hitting very closely the trendline. Long INTC 170413C37. Targets are 37.50 and stop is 35.25.
On Friday, Gold closed below the 6, 8 and 21 day moving averages to descend into the Ichimolu cloud for the first time since the end of January. The support at 1222 held up but the buying was not strong enough to force price back above the 21 day moving average. The close below the 8 day moving average the day before generated a Sell signal in my strategy and I...
The original market profile was developed mainly using 30 minute intraday charts. However, I find that volume profile is very helpful in shorter timeframes, though I cannot post them here as ideas (though lower down I will as a comment with snapshot). Here I have changed the Value Area from the default 70 to 38.2, which I find creates a channel around the POC...
SPY: Using the VP for the range of the recent upmove on a 30 min chart, the Developing POC (point of control, i.e. price where most volume has occured) is at 236.50 (ish). The market has sold below my Collective Moving Average with bands, and although it made one probe, has not yet filled a gap from the 27th high, made on the morning after the big Trump speech....
Gold sold off sharply today, dropping 15.5 points and closing under all 3 moving averages on the chart, the 6 day, the 8 day and the 21 day moving averages. Gold now seems determined to head south. The first target should now be the lower red bollinger band. Chart update: now that the bull run is over, I've removed the intermediate and short term waves from the...
Gold sold off in the overnight session to tag the 21 day moving average. The precious metal then reversed as the New York markets opened up and rallied to close between the 6 and 8 day moving averages. On the whole, gold rose a modest 1.5 points today. Today's doji shows that once again gold seems to be in a holding pattern and moving sideways. Although since this...
The bull run of Gold paused today as gold sold off, hit the 6 day moving average and then closed at the middle of the range. Today's doji is the second in a row. Unfortunately for the bulls, as the Asian session opens up, the precious metal is now trading below those moving averages. However, you can expect extra volatility tonight as the US president addresses a...
Gold traded higher in the first part of the day on Monday and then sold off in the afternoon to close at 1258.8. The day ended with a doji candle that had penetrated the upper BollingerBand but then sold off and closed between the 2 upper BBs. Remember the red BB is set to 2 Standard Deviations and the cyan BB is set to 1.5 Standard Deviations. Gold is also...