14 hours ago
For those of you who follow me in the Syndicate each morning, you'll recognize that we made money playing this double bottom on Friday. Well now the market has set up a nice 26.18 trade. Should be a buy at the open.
2 hours ago
Looking through other Commodity Currency pairs seems to suggest general weakness lies ahead for all commodity pairs. This is possibly exemplified in CADCHF with potential short that could be headed to retest the last spike 2011 low or make new lower low. In fact I favour new lower low as we could have massive ending diagonal which cannot be seen on this chart due to lack of price data prior to 2009.
3 hours ago
Idea is based on a combination of Elliot Wave Theory and median line analysis. The rationale behind this technical analysis is shown on the chart along with specific targets and stop loss. Unfortunately due to the dynamic nature of my entry point, for the short setup, I can not give you an exact stop loss. Good Luck guys.
3 hours ago
Please give your thoughts on which way you feel it may go
I feel it it could go to 0.618(9816) and then drop
but also it could go to 1.618(9573)
what you think?
3 hours ago
As the week ahead is extremely busy concerning data releases from Canada, I'd say that anything can happen but I favor the upside in EURCAD. After Fridays terrible Canadian Empoyment data, I wouldnt be suprised to see BOC on Wednesday to be a bit more pessimistic in their long-term projections, hence giving traders more reasons to sell the Canadian Dollar.
10 hours ago
The buyers put in an appearance last week after the last week’s selling onslaught, nonetheless it was nothing to get excited about. As a reminder from last week’s weekly analysis, the green arc to the left resembles likely pro money activity in that when price rallied, a spike lower was made to consume the buyers thus clearing the path for sellers possibly down into weekly demand at 0.76931-0.78623. However on the lower timeframes there are likely areas of demand we cannot see on this timeframe, so let’s take a closer look.
Two daily demand areas were found within the weekly green arc. The higher daily demand area of the two at 0.78862-0.79206 saw a reaction on Monday last week, which consequently rallied price up to the daily minor S/R flip level at 0.79581 where the sellers were seen to be active.
A break above this daily S/R flip level will likely see price testing oncoming daily supply at 0.80328-0.80024, conversely a break below this daily S/R flip level will likely push price down into the daily demand area at 0.78117-0.78533.
A reaction was indeed seen at the 4hr minor demand area (circled) as reported may happen in the last analysis, but was nothing to get excited about! A break below was seen late Friday meaning price could very well drop straight to the low 0.79139. The reason price could drop that far is because of the tail marked with an arrow, this tail was likely used to collect orders for the original advance, but in the meantime, it consumed buyers, thus clearing the path for sellers.
Now do bear in mind this low 0.79139 could well see a fakeout below into true 4hr demand at 0.78862-0.79048, but it is doubtful that this will be seen just yet.
Pending/P.A confirmation orders:
• Pending buy orders (Green line) are seen just above demand (0.78862-0.79048) at 0.79076. A pending buy order is placed here due to the aforementioned 4hr demand area’s location in the higher timeframes (Within the compressed green arc from weekly demand: 0.76931-0.78623… Seen on Monday 7th July analysis), and daily demand at 0.78862-0.79206.
• No P.A confirmation buy orders (Red line) are seen in the current market environment.
• The pending sell order (Green line) set just below the S/R flip level (0.79679) at 0.79641 is now active. Our first target has been hit at 0.79388, so do keep an eye on our second target below at 0.79139.
• No P.A confirmation sell orders (Red line) are seen in the current market environment.
• Areas to watch for buy orders: P.O: 0.79076 (SL: 0.78846 TP: Dependent on price approach) P.A.C: No P.A confirmation buy orders are seen in the current market environment.
• Areas to watch for sell orders: P.O: 0.79641 (Active – 1ST target hit) (SL: 0.79747 TP:  0.79388  0.79139). P.A.C: No P.A confirmation sell orders are seen in the current market environment.
14 hours ago
With the pound on a rampage the question is, Will anyone stick their neck out for a short? Well I'm going to be watching this pair very closely over the next week. We've run into a major support/resistance level on the monthly chart.
The lower timeframes are still not giving me the signal I need to go short but everyone should be watching this level.
14 hours ago
This is a Bullish pattern
15 hours ago
I had to redo my chart after the stock split so it gave me a chance to take another look and redraw. Here's an updated chart that may or may not prove valid. Price does seem to react at the various tines of the fork.
Daily closes above the mid fork would bode well for AAPL. Price rejection by the mid fork and closes below 90 would have bearish overtones for AAPL and possibly the overall markets as well.
Earnings on 7/22 after market close. Look for consolidation and chop until then. Good luck!
16 hours ago
This week was pretty volatile, but the S1TH is slightly down from last week. 90.09 % of S&P 100 stock are still above their 200 MA, the three supportive indicators are still positive, so this market is still "Tradeable".
Also , the AK TREND ID indicator ( see link) is still positive.
18 hours ago
Here is just one look at BTCUSD. Let's see if these trend lines continue to be respected. Pay attention to price and how it interacts with pitchfork support. Over 680 would be bullish. Below 535 spells trouble for long trades.
19 hours ago
as I pour over the charts this morning, I see lots of potential going forward. It has only been a few days since exiting our last setup and the market is starting to offer new ones for consideration. I think I mentioned we had a nice double bottom to work off of recently and as one can see from the 4hour chart, that has hit its 50% objective. It represented a little too little reward vs. the risk so I decided to let it go - figures...lol....actually, I am more than ok to let it go as I am pleased to see myself stick to my trading plan.
To that end, I now see a nice trading plan setup developing here on BTCe. The BoT, as outlined here: https://docs.google.com/presentation/d/1DY-LGVBMLx2yngfl92bgxndN9srJQF03xeGxrHFX2ng/edit#slide=id.p
, is a nice model to play potential bullish or bearish ab=cd harmonic patterns. Off this chart, I would be more than happy to take the setup on a bullish resolution through 629.05. Risk reward levels are noted on the chart.
On a closing note, here is something more interesting - the 1 hour chart too has a bullish BoT setup working. Its validation will also come on a bullish resolution through its current consolidation: But you will have to subscribe to my fee site (very small monthly sum payable in BTC) for that analysis....here is the adr if you are interested: http://www.therationalinvestor.co/?page_id=28
Hope my simple analysis is of benefit
aka The Rational Investor
1 day ago
GBPJPY IS NEAR THE SUPPORT WHERE PRICES WERE REJECTED MANY TIMES IN LAST SIX MONTH... IF BREAK THIS SUPPORT WE CAN SEE MIN 170...
1 day ago
Home Depot is on my watch-list for a short. With recent
weakness in consumer discretionary and warnings from the
CEO of Walmart and other earnings misses such as lumber liquidators I see
weakness in this sector. .Big money is already selling ahead of earnings. I will wait for my setup. Will need two red bars below the 0 line on the Awesome Oscillator
and I will short at the bottom of the price bar. The weekly chart is also very close for me to going short as well. At earnings I will be watching the forward guidance on this huge big box retailer
1 day ago
Distribution pattern possibly setting up after retest of 2004 highs. Recent close below support signifies coming weakness and expect further weakness into the next couple of years.
1 day ago
Butterfly and Bat Pattern complete nearly at the same price level. The trend channel will be broken slightly, but perhaps we get a countertrend bounce here.
1 day ago
Last night I was looking at the charts and seeing how we were stuck in a bear trend. At the time I thought we would have to break soon and as of 11:00 AM PST we did so a few candlesticks ago. I believe most of what needs to be said is on the chart. Over the coming days if we do go up keep any eye on those Fib extension levels. It would be wise to think about either A) Setting up take profit order or B) Notice how we stop on the Fib levels for some time and take some profits. Remember to not to sell all but to take a little profit if none of the indicators have confirmed a down trend. You never know when we could suddenly break up, and it likely will be fast. People are just itching to get into the market right now. Yet, they are not sure if they want to. A good sign that there will be a quick movement sometime soon.
SAR – Made for some decent gains if you followed the signal it gave. Currently in BUY mode.
Aroon Oscillator – Based upon this we are now in the general zone where more moves up should occur. Since July 3rd it has been consistently below 0 which lead us to follow the bear trend down.
Volume – Looks to be going strong when we decided to break the recent trend. Not the best of confirmations. However, it is a good sign for the bulls.
Bull Target: $659
Extreme Bull: 673
1 day ago
Idea is based on a combination of Elliot wave theory and median line analysis. The rationale behind this technical analysis is shown on the chart along with specific target and stop loss.