NGAS has taken a nice correction recently, which is expected given the momentum with its move south. A wedge has began to form with some volatility in recent days forming this pattern. Given we have divergence on the RSI and the overall direction is bearish, I'm expecting some oscillation within the triangle and then a break to the south. This is also backed by...
A nice down trend channel has been formed and although it seems as if this pair has been on a bullish run, the channel with respected touches on the trend lines indicates that price has been obeying a correction. I expect a slight movement upwards with price being beginning to weaken and for a nice correction downwards. For more information on trade setups and...
With the warmer months upon us and a clear down trend channel, NGAS looks set to head for lower lows both due to multiple respected touches to upper trend line and with RSI divergence shown. A couple of missed monthly/weekly pivots now sit below price and I expect new lows to be made. For more information on trade setups and education, sign up to my website (in...
Here on the S&P 500 you can see a rising wedge which is a nice pattern to play for trading high risk to reward payouts. I'm entering short with the monthly pivot as a target, potentially adding more trades as it moves south. For more information, please sign up to my website: www.ejfxtraing.com
GBPAUD has seen a massive sell off based on the Brexit fear and the increase in Commodity prices helping the AUD. This instrument is massively oversold and is close to been over extended and so I expect a retracement in the coming days. Buy limit orders around the lows recently made targeting 1.88 area. For more information please visit and sign up to my...
A friend of mine recently pointed out that if the Brexit vote was to unfold then what were the implications to the Cable or GBPUSD. Looking on a higher timeframe (2 weekly) a clear Head & Shoulders pattern has emerged indicating that GBPUSD on the break off the neckline would drop and a potential target would be towards parity with the US Dollar. Of course, if...
Oil recently published a stockpile of over 10Mil barrels in the past week adding to the current supply glut. Interestingly, despite price increasing for the oversupplied black gold a rising wedge has formed and would indicate a break to the lower lows is on. I also have divergence on the RSI giving me confluence that price is about to retrace. I'm placing...
After some substantial selling on EURO pairs I expect the EURAUD to retrace towards it's daily pivot and the upper trendline before resuming the on-going down trend. For more information, please visit my website: www.ejfxtrading.com
Just spotted this on my daily scan of instruments and this is currently in play. A rejection of the resistance line forming a double top is a classic pattern to trade and I expect this to slowly retrace back to the daily pivot and then re-test. For more information about my upcoming website release please visit: www.ejfxtrading.com
EURJPY has been in a nice bear trend since the turn off last year and is now approaching some key fib areas in the form of a correction. Looking at price, the 50% and 38.2% represent key fib levels if price is correcting , presuming this is an uptrend or bullish trend. I expect some support at this key levels and would suggest that watching price close above...
SO recently I posted regarding this same chart about the resistance block and the two potential scenarios, with a view that if oil couldn't stabilize in price then the Nikkei would resume the bear trend. Reviewing this once again and it looks like this has hold true and I know expect a re-test of the lows made recently so shorts are now favored. For more...
With the resumption that Oil will increase, this has played in the favor of all indices indexes. If oil can break its current triangle (please see a chart of oil to examine this) then this will aid the Nikkel, DAX30, FTSE, S&P & DOW. If this is the case then I expect this resistance block to be breached and a move to the next fib of 61.8% or 16700 and then...
So recently I published a chart showing 5 options to which NGAS could head towards. Currently it has made a new low and I expect a slight retracement towards the upper trendline on a lower time frame. Looking at this from a long term perspective, we are nearly heading out of the winter months and so I can only anticipate further movements south for this...
The rapid sell off in GBP pairs was very evident yesterday and I expect the campaign for Brexit will play on traders minds. Technically a 20% correction in price is deemed to imply a bear trend is in progress so if GBPJPY can break 156.51 then I expect a move towards the 148-149 area before bouncing at the time of the Brexit result in June. For more information...
With recent discussion regarding oil and the stable output flow agreed with the suppliers, oil has seen a boost in recent days, however I re-bring this chart back up because oil is at an important milestone. The scenarios remain the same, however if oil rejects the two trend lines which currently it has however we need to wait and observe confirmation that a...
Recently I published the AUDUSD was forming a H&S pattern although the left shoulder was still in formation and at times this can be difficult to determine whether this particular pattern is in formation. Recently, I have confirmation from my analysis that this pattern is now ready to break lower, however to be conservative I've drawn in two necklines which would...
I'll leave this one with you all to look for yourselves. If you scroll back, you'll see how many times the weekly (green pivot) is hit, which is quite a high hit rate, with the exception of 2-3 out of 50 whereby price has come within a few % of hitting the weekly but not directly touching the pivot. I like pivots because they tell traders/investors what the...
Talk on Friday that OPEC will come to a means to agree the cut in oil have given it a bit of a push and its biggest one day gain recently. My thoughts are that oil will rise momentarily to either where the two trend lines meet = scenario 1 or will push higher to the upper trendline = scenario 2. I think it would be wise to wait for price to rise slightly and...