CandlesofKarma

CandlesofKarma Updated 

GJ's market structure has faced multiple consolidations in the previous month. I believe we could see a strong bullish momentum this week since we had multiple fakeouts, and high impact news this week.

CandlesofKarma Updated 

UJ has been a FX pair that has been moving like a rocket ! Currently looking at the key level area illustrated on the chart for potential bullish opportunity since this area is now valid.

CandlesofKarma Updated 

If you understand the US economy then understanding oil may not be too hard to follow. We have been seeing a lot of bullish momentum from oil after OPEC announced it was cutting its production of oil. If these fundamental events continue to align this technical clue on the chart, then oil can hit the forecast target outlined.

CandlesofKarma Updated 

With the consistent hike in interest rates, it really would not be surprising to see the SP500 take a dip after a corrective month of price action. There are 2 classic indications that we may see this turnaround this week on the chart illustrated. 1) Countertrend line break and 2) A possible head and shoulder formation. Let's keep track of this!

CandlesofKarma

Rolling into November, we are gearing up for some final market movement as we head into Q4. We can see that the dollars bull run was pretty corrective for the past weeks and could be coming to an end (3-wave correction present). If this forecast is correct from a technical standpoint, I see a strong possibility that the dollar can continue its bullish run for the year.

CandlesofKarma Updated 

Currently looking to see if gold will continue to rollover to the downside. Reviewing the daily(before this H4 timeframe), I can see that this is actually a very interesting area where I can see a simple retest can happen. Currently waiting for this H4 candle to close to get an understanding of what may transpire for NY and the week. Stay tuned :-)

CandlesofKarma Updated 

The market has taken a hit every month due to the federal rate hike, and it does not look like it will be stopping anytime soon after last week's G7 meeting. Looking at this intraday analysis we can see a very clear market structure that gained a lot of bearish momentum at the end of last week. I will not be surprised if we revisit the target price outlined on the...

CandlesofKarma Updated 

I think it is pretty safe to have a sentiment about US30 being bearish for this upcoming week. The Fed has yet to let up on the never-ending rate hike which is causing huge fundamental movements like the ones we have seen last week. We have hit a pretty strong supply area with a notable key level for U30. I definitely would like to reanalyze this pair in the...

CandlesofKarma Updated 

We have a good amount of fundamentals coming this week ! We may see the dollar go back to its bullish ways since the saga on the federal rate hike is not over. Breaking down this analysis for educational purpose we can see a very clean bullish trend. Currently we did get a midsession reversal during the London session which could see us up for some buy...

CandlesofKarma Updated 

Nothing too crazy to point out for this index yet. I think everyone is fully aware of the rise in interest rates. I wont be surprise if we end up with a heavy pull back this week, so this instrument can continue this strong rally.

CandlesofKarma Updated 

We've had a very strong rally last week after Powell announced that interest rates is the highest its ever been in the last 40 years ! With this fundamental fact it would be easy to call that we should see US30 in a downtrend for quite sometime. The only thing is ...we need the price action to tell us when it will happen. Clearly, it was not last week ! So the...

CandlesofKarma Updated 

The Dollar has been on a very strong bull run as we track it week to week. We can see a clear channel has been broken, and price interacting with quarter point. In addition. price has corrected itself by 50%! What do you think is the probability of price popping back into the channel ? Love to hear from the followers of this channel!

CandlesofKarma

This is a little bit different from my usual. Current looking for an intraday setup on U30. We can see price full respecting 3100, in addition to a bullish trend that is being built on the lower timeframe. If the price action exceeds and closes above the key level marked on the chart, we could start seeing this bullish momentum changing the higher timeframe...

CandlesofKarma Updated 

Before tomorrow's fundamentals on supply management drop, I think its a great idea to get a technical understanding of where the market can possibly go. Last week, DXY was in a period of consolidation until the high impact news caused a strong bullish momentum break out of the colsolidated area. Before closing out, we can see a classic retest by a hammer candle...

CandlesofKarma Updated 

Last week we have seen heavy movement on the dollar index after Powell announcements that focused on the increase of interest rates. Knowing this, the dollar index will be the most important chart to pay attention for this business quarter. We can see a lot of classic technical aligning with this fundamental information. Currently, price action has started the...

CandlesofKarma Updated 

US30 has been on an intraday bull run for quite sometime. It is possible for this bull run to end and fake out traders that were looking to short this early as explained in last week analysis. We can see US30 is retesting a major key level, so the probability of this bearish move is looking more than likely. Always remember the market structures will always tell...

CandlesofKarma

Yesterday, we experienced quite a drop in the US market and created todays a very quite Asia and London session. There are a few indications that the market could be off to a bullish run eif it aligns with the fundamentals that will be releasing today. Technically, we can see price action revisiting a broken channel that has many bullish confluences. I will be...

CandlesofKarma Updated 

I wanted to post this analysis for educational purposes. A lot of traders base their trades on trendlines to understand that the market is trending. Just because a trendline is broken, it doesnt necessarily mean a trend is broken as you can see here for the dollar index.