About meI love the challenge of trading, the battling of the markets with my technical analysis, however my single purpose is to make money! Check out my website for more information regarding training, education, discussion on setups and much much more!
Joined 2 years ago
The pound has yet again taken another pounding (pun intended) but is oversold and has shown divergence and is ready for a up correction towards the 50% Fib or 2nd trendline.
Pending Buy orders above the 1st trendline with stops below the recent lows.
The Pound has been on short selling this start of the new year mainly due to uncertainty with Brexit and comments made by the PM.
If price can close below this fib, shorts are preferred with the next fib a target and possibly the 23% area.
Stops above the current fib where price is lingering.
The Dow Index has been on a staging rally since the US Election and is now over brought on a high time frame. I suspect will see what pundits call the breach of the 20,000 mark and maybe a tiny push beyond, but like most things and the start of the new year, I expect many institutes to start to profit take and for ...
I haven't posted for a while as I've been working on some really interesting projects, particularly for traders coming up in the new year.
The DAX is an instrument I like trading and presents itself with unique opportunities on a frequent basis. At this time of year I like to reflect on what the instrument has ...
NGAS has just rejected the resistance made by the recent high, meaning a nice retracement is now due. With a couple of missed weekly pivots below, this would make a nice target for the retracement. Stops above the highs!
I might take this trade in a day or so if it continues to head south and close beyond the 200 EMA. A clear rejection of a nicely formed channel has emerged and we can expect some strength in the Yen in the coming days so this might be a nice trade with stops above the upper trendline channel. Target would be around ...
I won't be trading during the US election and ceased trading as of last Thursday as I expect some wild volatility that can blow accounts and so I'm protecting my capital.
Here is a potential scenario to what might happen to the US Dollar during the election in the next 2 days. Good luck to those who are trading!
Copper has been obeying the triangle structure for some time and has just shown a rejection of the upper trendline indicating a nice move south. Stops above the trend line and targets for mid way or to the lower part of the triangle
The EURAUD has been oscillating in a triangle for sometime and until last night closed below this trendline support.
Expect movement to the next support level at the 38.2% Fib Level which would give some pretty good Returns based on a tight stop loss above the trendline which has been broken!
Observation from the chart looks like we may have a double top on the Daily timeframe. If this is confirmed then we could see a big move down.
The way to play this is to place pending Sell Stops below the 7000 area and target the nearest monthly pivot in the 6825 area.
Oil has taken a turn to a more bullish trend in recent weeks due to OPEC's influence and also a time of year where the northern hemisphere uses more oil in demand compared to summer time.
Oil although demand > supply is helping oil prices, is due for a retracement and with a resistance block up ahead and the ...
Copper on a recent rally looks to have respected a long term trendline and is due to retrace although there may be room for a bounce and re-test of this trendline before resuming downwards to the 2-2.1 price area
USDMXN has been on a bullish turn but is about to hit a sell zone and is showing signs of exhaustion based on confirmation of wavetrend and the RSI showing divergence. I'm going to let this rise somewhat before showing some price action that would confirm this behavior is to be played out.
EURAUD is poised for a big rise based on some trend reversal patterns identified earlier in previous posts.
Since this rally, there has been no retracement on the current timeframe and a long term trendline has formed indicating that there could be a rejection and a retracement move ready to happen and towards ...
The Dollar Bulls are back in favor as data although somewhat not ideal seem to support a rate hike this month and it seems that investors may be pricing in this rate hike.
A nice trendline has formed and the Dollar has broken it to the upside which means a potential move to the North! Await for the retracement ...