Hi Traders, Well at the end of each month I tend to look at monthly closes to gauge perspective on where a currency pair may head in the upcoming month. I previously posted analysis showing the huge absorbtion/accumulation of short sellers and buyers alike. What the monthly chart shows is that sellers have gotten weaker, and weaker, and weaker as each month...
Hi Traders, Opportunity has shown its pretty face once again. Clearly there has been rejection of the descending trendline on this currency pair with two different types of doji's forming at resistance. Trade targets: First one is set at 1.4075 (first level of support) Second target is slightly above the lows (1.3830) set at 1.3915 Stop: Slightly above this...
Hi Traders, So I've been watching this channel form (possible bear flag but that seems unlikely) the past couple of weeks. We have a break & close above strong resistance at 0.6860, but I believe we will break back below subsequently initiating a pullback to the lower end of the channel around 0.6700 due to the daily candle doji close at channel highs.. In which...
Hi all! Well earlier I entered long the dollar since price had reached the bottom of the channel. Forming a doji candlestick pattern on Friday. First Target: The area of congestion (highlighted) where price made a large impulsive move to the bottom of the channel. Price was quickly bid so I entered long based off of that. Stop Loss: Placed at the previous low...
Hi All, well as we all know the Aussie did just print new highs for the year. Next point of resistance would be around the 0.7600 area highlighted by the orange trend line. There could be some short term long opportunities on a pullback down to the .7300 area. Overall there could also be a short trading opportunity at the 0.7600 area. All the best guys!
Hey all, well I've noticed some very interesting price action now that the Euro has retraced to the 1.108 area of support. Which if you look back, was an area where buyers stepped into the market with force to push the euro higher after the initial break above 1.0980. Stops will be placed at the red trendline for a rough risk of 40 pips. First bullish target is...
Its almost midnight in Manhattan! Lol... anyhow I exited the previous long trade from the 16.5000 area a couple days ago at 18.6750 (give or take a couple pips). Once that was completed I put limit orders to buy at what seemed like logical and clear support at 18.0820. An initial price target is at 18.7000 The second price target is 19.0000 Leaving 15%-20% of...
Hi all, these are the support / resistance levels for NYSE:HD As you can see marked by the dashed green line we have weekly support at 112.38 which would of been an ideal area to get long on the retest of support. Resistance is currently at 116.30 with 121.07 following shortly. Monthly support is at 109.49 A potential trade: If I hadn't gotten long at...
Hi all, well U/J has rebounded from a long term trendline. And currently is at some minor resistance which if you look left would be the congestion area at 115.00. If we break above 115.00 the next resistance would be at the 116.68 area. That is much stronger resistance so we could find a short swing opportunity there again. Happy Trading!
Hi all, well this is just a quick chart. NASDAQ:AAPL has now reached its Weekly 200 Moving Average support. So I'm not going to say which direction you could trade this, just pointing it out. Choose wisely what and if you decide an attempt on this lucrative trading opportunity. Weekly S/R Levels:
Simple and straight to the point. So crude has now touched support at 27.70. What we can expect is another potential rebound before a break below support. Which would ensue another leg lower to $20 crude. The reason I say there could be another potential rebound at current support is because there tends to be 3 tests of support in a range bound instrument, with...
Here's an interesting intra-day move for those looking for possible day trading opportunities. NASDAQ:GOOGL broke above 701.31 resistance and filled the previous gap lower. Move is supported by decent volume accumulating on the buy side during the accumulation area between 684.40-700.00. Look for a continuation higher keeping your eyes on order flow during...
Hello traders, apologies for the late post today has been a crazy day at work. But anyhow, here is the trade: I went long U/CAD upon a 1HR Candle break & close above yesterdays high around 1.3800. Reason behind the trade is the bullish hammer / dragonfly doji (I don't really care about the name, so if I named the pattern wrong just bear with me) that formed at...
Well the opportunity to go long NFLX presented itself once again. It's a pretty cut and dry simple trade. Selling volume has been drying up the past few days. My favorite candles are the ones dated 1/20/16 & 1/27/16, the reason being is the spike in selling volume without the follow through in the 1/20/16 candle, and the large bodied 1/27/16 bearish candle without...
I was asked if I could post my technical view on the dollar earlier today so here it is. Currently in the medium term it seems we have a bear flag forming on the dollar which will be confirmed on a break below the flag portion of the pattern. I see only two real areas of support marked on the chart with the 1st area being the more aggressive buying point. Some...
Hey traders how's it going, at this point right now the pair has formed a well defined range. Historically it does this before the catalyst to send it lower happens. Anyhow what I'm waiting for is a pullback and confirmation after the pullback to get back in short. This chart is more or less just something to keep an eye on. Also for a contrarian trade would...
Hey all, this is just my simple technical analysis on the market. So what I've outlined with the solid green line is the area in which I will be looking for decent dip buying opportunities (182.00 area). Reason is quite simple, it's a psychological area for both bears and bulls. In the short-sellers perspective, they see that area as a technical barrier where...
Hey all hope you've all been well, happy new year! Well have been in this trade for a couple months now. I've been putting in short term trades in between holding the overall position to make up for the negative swap. At the moment I hold a small percentage of the overall position so now I'm looking for areas that could potentially serve as "long entry" points....