Haven't touched stocks or ETFs for a while and now I decide to get back to my favorable Gold stock analysis.
We can easily spot that flag on 4H or Daily chart of GDX, normally with previous bullish price action, gold has slightly more chances on breaking the top side of the triangle.
But!! When I zoomed out to weekly, it tells me a different story. GDX was...
Nothing informative, just got bored and draw some lines on NZDUSD.
Somehow managed to put an exact length AB=CD on the chart (Ctrl C+V), and the D falls right at March, 2019 low.
This is nothing but a bald guess, hope it'll reach there in the next 5-6 years :D:D:D
This pair has huge potentials on heading down. Previous high on Mid-march 2018 doesn't impressed that many traders, and it's been forming a weird H&S pattern. I may set a sell order at 1.51. expecting to hold for a while with positive swap income as well.
Sell Order: 1.51
TP 1: 1.4963
Everything showing in the chart. And this is just a potential trend Idea.
By far DXY still have 0 intention on a hard retrace, if it wants to go down, it should be done many times before.
I still have more bullish bias for DXY, wish to see it goes higher.
Clearly NFP and bad earning data didn't boost EU back above to 1.125. I decide to take this risk and short this pair at so called the bottom.
1. Hourly candle shows a inside bar that may favors the bear.
2. Hourly candle bounced off EMA 230, which I used a lot.
3. 4H candle bounced of the bottom of the Ichimoku Cloud
Stay neutral at this moment.
For some reason, the price action is jumping up n downs with bounces off my EMA, so if it stays like this, I'd short on USDJPY based on the latest bounce.
Wait for more confirmation since the candle still shows bullish power.
Expecting oil to fall in the next few weeks. If u are doing long term trade, I suggest you to get in with small position with SL around $62
We are still on a retracing trip, and its a long journey. The bearish potential is still there plus the president said oil was still expensive :D
So, for those who doesn't want to drive Prius like me, it's a good time to...
With dovish FOMC tone being announced, EU spiked up to 1.145ish, which is about 50% fib level. Overall the tone is still bearish for euro, and we are expecting a mid-term trade to close the gap at 1.08 level. Still, weekly shows a bullish divergence on RSI, but the long term trend is still bearish.
Will take a small position on shorting EU, reasons are in the chart.
For this year, we've seen 3 tops on EU, all looks kinda similar, formed a top, then followed with a lower high, and then puke.
Right now we may forming the 4th top which looks similar with previous structure.
I'm expecting a short here with the target at previous low. btw, on weekly chart, EU...
what a dovish tone it had from BoC, UC was rallying hard for the past 4 days. I'm expecting a retrace from here to 50% fib level(1.337ish), which is also a support from previous price action.
TP and SL are marked on the chart, good luck.
GU currently looks bearish right now, since it had the best week for bull last week. I heard lots of traders calling full bearish trend atm, but, based on the price actions on bear, I'm not convinced. If bears are getting ready to step in, a big fat bear candle or crossing star should be involved.
In a short term, I'm expecting GU to have another bullish up move...