CandlesofKarma

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.

CandlesofKarma

The Inside Bar is a lovely pattern that shows consolidation in a valuable way. As you can see the candle parent candle creates the high and low that will low key to know the consolidation is over. Price staying inside this area tells you so many things ! 1. The Market volume is low in terms of trades being executed on the instrument. 2. Where price is at fair...

CandlesofKarma Updated 

US30 has been in consolidation since its is near a long term bearish trendline. I am expecting that price would eventually want to interact with this trendline noted in red. This consolidation highlighted may use a false break out, and eventually rollover and start creating short opportunities. This is a time where it smart to sit on your hands and DILIGENTLY...

CandlesofKarma Updated 

There are a few indication in the price action sentiment that gold could possible turnover. You do want to make the mistake and have the wrong bias about a trend change to early ! Therefore, It is important to pay attention to the market structure when price may not be so clear on trend changes.. Currently gold has been consolidated and structure indicates it...

CandlesofKarma Updated 

Adding this instrument to the forecast List. This analysis is a bit aggressive since I am looking for Oil to keep shorting in the market during today's NY session or earlier next week. There is an area that I am highly interested in since it will meet a lot of technical setups, moreover for traders who trade based on support and resistance. Currently, we can see...

CandlesofKarma Updated 

U30 has been on a strong bull run, and has been inline with the fundamental releases from the previous weeks ! (Especially with the supply issue that a lot of US companies cant seem to figure out ....(except Amazon). :-) We are still following this bullish trend until we are told otherwise from a technical stand point. Today (8/8/22), We've had a bullish run...

CandlesofKarma Updated 

I enjoy trading many technical patterns, but this one I am not a fan of trading until price action shows a non-neutral trending structure. Therefore, I will only be monitoring DXY. Equilateral Triangle Pattern: This is when the price action s neutral (flat) due to the price trending in both directions at the same time. Typically many fake outs happen with...

CandlesofKarma Updated 

If the dollar index begins descending from the highest point it has ever been in years. We can see US30 sentiment becoming more bullish for this upcoming week. There are some technical indications of this, but again no confirmation of this bias is present (Yet!). Watching this closely as well. :-)

CandlesofKarma Updated 

With interest rate and all the other lovely fundamentals the Dollar has been on bullish run of a life time! The last few days of the previous week, the Dollar did not do so much and even showed some initial temptation to keep shorting on Friday, but as you know .. it never that easy :-) Hence we ended with a three day consolidation. I expect we may see the Dollar...

CandlesofKarma Updated 

Last week, Gold visited the lows of 2021. There are a few levels that Gold has not retested due to the strong bearish momentum. We may see Gold revisiting the highs charted previously. Of course, we will have to be closely monitored this with moderate risk on the table since this forecast is against the overall momentum.

CandlesofKarma

Gold has test the low of 2021. After this low test we have seen a huge bullish engulfing overtake the previous days after a 50% retracement of price. Let's see if this bullish momentum can continue into the upcoming week.

CandlesofKarma Updated 

It seems we may have a legit breakout on our hands ladies and gents. :-) Currently measuring the point values on this pair to determine if this is a legit breakout or not. Price filtering with additional technical data such as the ADR is a great way to determine if a pair is doing a legit breakout. I will also be looking at the volume profile for U30.

CandlesofKarma Updated 

I am still looking for gold to revisit the lows of last year. We may see an aggressive pullback before gold takes a chance to retest or break the lows of last year. I will mark this as invalid if we see changes in the intraday market structure to yield some trading opportunities this week. Happy Trading. :-)

CandlesofKarma Updated 

DXY has been on a very strong bullish run as the dollar increases in strength due to multiple hikes in intrest rates and economic sentiment. There are some " bearish" technical signs that we can see, but it is still early days for this index. It will be a huge mistake to not focus on this throughout the week.

CandlesofKarma

Gold has been rolling over to the previous lows created in 2021. Knowing this pair it may aggressively pullback before possibly revisiting this area of interest.

CandlesofKarma

DXY had some strong movements today due to CPI reports. It seems like this bearish momentum can possibly give the dollar enough strength to continue the overall bullish momentum. What can invalidate this setup is the bearish LTF market structure. Let see what happens next !

CandlesofKarma Updated 

The way the dollar index has been making new highs never seen before. We may need to see it pull back if it wishes to go higher. This can definitely influence bullish momentum for indices like U30.

CandlesofKarma Updated 

I think it fair to say that a lot of analyst are waiting for this drop. I do see from a technical standpoint, DXY can come back to retest a classic trendline. Price action has shown some additional acceleration from the previous week fundamentals. Excited to see what happens before participating the upcoming sessions. Happy Trading :-)