Long awaited moment in gold. Let's see if we can stay higher before popping the champagne, but my bias is still up.
Dow Jones-1929 Nikkei-1990 Bitcoin-2017
Silver just broke out of a pennant after completing a Wolfe wave on a large time frame and coming back inside its range. Here is a chart to illustrate my point:
Gold has been forming a pennant pattern during an uptrend that followed a reversed head and shoulder pattern. I've been long for a while but I will add if we break this key resistance. Here is zoomed out chart:
Those that follow my youtube channel probably have seen my videos on the Wyckoff method so I won't go into detail here but here is the link if you need a refresher: www.youtube.com We are at an early stage because we still need to do a successful test of the support for me to start buying in, but this is as good as reward to risk ratio gets when trying to pick a...
Yen has broken out of an important triangle formation and looks to be headed to old highs. I will be looking for intraday opportunities on small time frames to get long a few of those. I will post charts in comments to show a few examples of the pairs I am looking at.
Got a nice bulltrap in a Wolfe wave pattern. More info on this pattern here: www.youtube.com
I think we are stuck in this pattern for now so taking a small position on this pair.
I think there is a high probability that this is a wyckoff reversal pattern and some shorts are going to get squeezed for a bit. I don't think I will get married to this trade but for now it looks like a good contender to start off the week. I have a video on the wyckoff method on my youtube channel if you have any questions. www.youtube.com
Kicking off the week with a small trade to feel the water. I think we are bouncing off an important resistance and broke a main trendline.
We just broke an important trend line, tested it and then broke lows, so I went short. I think this can be a multi-week position so I will add when I see short-term opportunities but I think the 2 targets shown here will be significant levels for profit taking. The second target might not happen but if markets go crazy, my plan will be in place.
I am still waiting for a proper short term set-up to confirm these trades but this is my plan for gold. I usually plan for shorts as well but I think the fundamentals are not there so I am looking for longs only for the time being. This analysis depends on the current support actually holding however so I am flat for now, but I wanted to share my plan.
I believe we did a good test of the current support today so I went long with 2 targets as chart shows.
I haven't touched cryptos much in the past few years, but in the past few months I have started back accumulating here and there because of the turmoil in the economy. I started revisiting crypto projects that got me excited previously to see where they are at 2 years later in order to reassess my view of the global market. Perhaps I will do some videos on the...
I have been shorting GU for a few days now but the current conjuncture made me lighten up my position. We just crossed upwards an important trend line so I am waiting to see if we will see a test of the newly found support, followed by a bounce, or if we will run through it like butter on the downside. One scenario is that we just needed to test the 1.24...
I just started shorting stocks again. The reasons are purely technical as one of my bread and butter patterns is a triangle followed by a short lived penetration of the previous highs followed by weakness. There is also a small 3 drives to a top pattern which I shorted on the break of the small channel. I am using very little leverage so far but will add if more...