FTSE 100 Index UK100 Since making a seasonal high on 22nd May FTSE has fallen away down a narrow impulse wave and chanelled down the smaller falling pair of parallels from the new high. Whist constrained within the channel FTSE remains vulnerable to further selling pressure back to the first minor support line at 7691. Failure to hold here will trigger a...
WTI USOIL Week Ahead WTI has fallen away in a straight line ever since the short triggered on Thursday and is now around 390 or so pips to the good. It should fall away a little lower still, towards the first support line at 67.22 and can spike down to 66.48 at likely lowest before it starts to bounce away to the upside again. Look to close out at least half...
Apple AAPL It took 18 months for Apple to double from the low at 91.5 to a highs at 180-183 before a 16% decine to 150 (WD Gann would have loved this stock as much as GE, probably;) Like FB, Apple has closed out the week sitting on top of the structure to its left. And in classical fashion, if the 165-164 levels fail to hold from here it's then likely Apple...
Bitcoin Bitfinex Happy Monday ! For once this hardly really needs updating. Should rally to first target at 10112 later today but is once more a little extended and can spend time consolidating - quite a long time if it wants - before rallying again. Just stick with it or look to add on dips. It should rally to 10448 and then 11590-11620 later this week.
Poor week | 5 day result | ETHUSD
Nasdaq 100 Index NAS100 The gyrations of February have created some interesting patterns on Nasdaq. After rallying to double top around 7000 it has subsequently fallen away to create a continuation pattern under the high, finishing the week by closing at the upper parallel of what may be a bull flag in formation. For that to remain the case Nasdaq has to...
S&P 500 Index SPX The Trump Rollercoaster Ride in 2d - The post-Trump rally in the S&P has been a text-book affair, with 4 clear phases and speeds, like a car going through the gears. First gear is the lower parallel with a direct hit on the day after the election in November 2016. It rallies and then drops in gear/speed, the technical equivalent of...
I look for inside bars, because they quickly show me when there is price consolidation, and price consolidations is where big moves typically come from. Now, which inside bar of the four charts has the better chance for an upside move? On the weekly charts of the four GDAX USD Crypto pairs, one can clearly see ETH had a stronger week out of the two-bar, inside...
Gold and the Dollar XAUUSD and DXY The dollar's decline is close to finishing. Likely to be one two spots outlined below - so this is likely also to be a big week for gold, oil, and across US pairs too. Look for buy set-ups on dollar pairs and sell set-ups on gold, silver, copper and oil... As DXY tries to climb and hold above a little dynamic that underpins...
Gold Dollar XAUUSD and DXY The dollar's decline is close to finishing. Likely to be one two spots outlined below - so this is likely also to be a big week for gold, oil, and across US pairs too. Look for buy set-ups on dollar pairs and sell set-ups on gold, silver, copper and oil... As DXY tries to climb and hold above a little dynamic that underpins price...
While I don't have an account on Bitfinex, it has the greatest amount of cryptos to view in TradingView and I flip through the entire list several times a week. What sticks out to me right now is nearly every single crypto, with the exception of BITFINEX:EOSUSD and BITFINEX:ZECUSD , has the same two-bar pattern on the weekly chart. Last week's shakeout followed...
We are looking 1-hour chart. Augur surged from 45$ to 100$ a few days ago and has now declined to 76$ which is 50% at fibonacci where we can see huge support. Augur has already bounced back from there two times now. Before we can look at 100$ I think we have to test the support level one more time when we have a triple bottom, then we can take a look towards 100$...
Brent Crude OIL UKOIL Trade Set-Ups for this Week Position: Flat - Just didn't trust this short after it bounced at 61.70 first target and then started to build a near term low at 61.33 so closed out the short for just over 100 pips after spreads, as per updates to last comment. Disappointed at the time to close out a trade that had stopped behaving according...
Brent Crude OIL UKOIL Trade Set-Ups for this Week Position: Flat - Just didn't trust this short after it bounced at 61.70 first target and then started to build a near term low at 61.33 so closed out the short for just over 100 pips after spreads, as per updates to last comment. Disappointed at the time to close out a trade that had stopped behaving according...
I suppose an uptrend for the next week with a sebafriday above 50% fibo + potential Breakout pattern
DXY: Dollar forecast for coming week: short term weakness on Monday/early Tuesday (latest) back to the neckline of the completed reverse head and shoulders formation at 94.28-94.00 range, followed by by another 2% rally. Suggest using early USD weakness on Monday to set up more long positions here and on USD/EUR
Trade with care. A little goes a long way. Good luck