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We just got a break above the cloud resistance. This is a good sign for long positions. Continue holding longs. Expect a retrace back to the cloud later as support. We have a good chance to retest the resistance around 113 in the future. Good luck and place your stops just in case we go back into the cloud or below the cloud.
UJ daily update, Well the uptrend still continues. Target on this current swing is the Weekly R1 level around 110. Pull off partial profits there and let some run further into the trend. The latest green arrow show our entry and the start of the latest upswing.
UJ daily update. So far we are holding the Weekly S1 as we predicted yesterday, but we still need a momentum thrust to the upside to enter. 200 day EMA is slightly below the S1. If we get the momentum thrust then we will have a bullish engulfing line candle pattern which would also be bullish. Only enter on the momentum thrust above 112.06.
Entry = 112.07
We have a repeat buy entry on the EU into the existing uptrend. The entry will also be above the weekly pivot level line (blue), which is bullish. Trade parameters are below:
Entry = 1.1369
Stop Loss = 1.1311
Profit Target = 1.1500 (Close to Weekly R1 Level)
Keep in mind that this is a momentum play. Do not enter the trade unless we have a momentum thrust ...
Sorry, I made some mistakes on some of the text so I corrected it.
A classic example on how well pivot levels still work after all these years. This one is on the EUR/USD for this week so far. Of course they don't always work 100% of the time. Nothing does, so set stops accordingly.
Possible entry for new short position on XAU/USD (Gold). Entry point is a possible bearish momentum play below the Weekly and Monthly pivot levels. Entry would also confirm a possible lower peak and the start of a new downswing. The profit target should be somewhere between the entry and the previous support zone around 1150 or so. Of course you can always ...
Recommending a new long on TWTR (Twitter) based upon a cup with handle pattern possibly breaking out to the upside. To confirm TWTR also has a rising 20 and 50 period EMA. Both the 20 and 50 have also just crossed the 200 day EMA to the upside.
Recommended entry: 51.70 (Buy Stop Limit) with bounds
Recommended Stop: 45.10 (Sell Stop Market) below last support ...
I am forecasting a possible classic "Descending Top" lower peak formation for the week starting 8/17/14. This formation follows the classic structure as outlined in the "One Way Formula" by William Dunnigan. We are predicting a closing price reversal from up week (this past week) to down week next week. In other words we are predicting a "red" bearish engulfing ...