Australian dollar is currenlty consolidating below the 20EMA and seems ready to drop. Only a trade below 1.01890 would confirm the short position with projected target objective at 1.0000. Drop should be fast once the median line is crossed
British pound seems gaining strength. The price is at the 20EMA and is supported by both up-sloping and down-sloping 1/1 Gann. A trade above 1.5370 could project the British pound to 1.5630 (2/1 Gann line).
British Pound typically has a strong tendency to move up in March. Th downtrend started in Jan seems over. The price has moved nicely along the 1/2 Gann line and now is ready to move up towards the 1/1 line. I would buy above last Friday high and close the trade when the price approaches the 20MA.
FYI the company will report Jan 15 the price formed what looks a bearish continuation pattern that has a measured move of 20% downside, but due to earning next week, its good to wait and take position after earning. If you can handle the pain in case the pattern fails to hit the target you can make your stop loss at recent swing high $15.50. Join us www.woowtrading.net
So,,, I am trying to learn the Ichimoku Cloud. I don't want to trade it all the time but to use it as a resource in certain areas. I think I like this technical indicator. If anyone is real familiar with this indicator please chime in because I would like to learn more on the cloud. Anywho, inverted head & shoulders setting up on $SPX. Do we push even higher here?...
The corrective pull back lasted four days and found resistance at the 20EMA. Downward trend is going to resume. Sell the canadian dollar at 0.99680 with target at next support area.
Trend in up but friday price action shows that the market is ready for a retracement. Look to sell at 1.02750 with target 1.01585 support area. Leave your feedback.
