Following a double-top, symbol="AMEX:FXI"]AMEX:FXI has broken below an ascending trendline and horizontal support. The down-gapping candle is bullish, but there is a lot of weakness going into this chart. One could imagine the price moving up to test previous support and making a move downward.
AMEX:OIH tried to breakout of its range but could not do it. As the adage says, "There is nothing more bearish than a failed breakout." And, though the concept of a failed breakout can be debated, this tried to move upward but could not and has two strong bearish days behind it pushing it below previous support. This is looking like a very clear downward move.
AMEX:EWN has reached a previous price cluster. Every continues to look bulllish here, but to break in to new highs, it will have some work ahead of it. Nonetheless, there is some potential here to make some money as it is currently having an orderly pullback with a hammer candle to an establish trendline.
AMEX:EWU is in an established uptrend and, though it has broke below a trendline, shows plenty of strength to the upside. With this key bullish reversal bar, it looks that this drop is probably a very normal pullback before it continues to move upward...at least to the previous trendline.
The ETF AMEX:CQQQ presents a great opportunity for a bullish move to around $55.80.
As it broke out above a bullish flag, and there is a nice ascending trendline, we get a good Risk/Reward ratio going into the next price cluster. We can put the stop loss below the previous resistance and the ascending trend-line.
A few days ago I posted a video showing the potential drop on AMEX:GDX. You can see it here.
It has done as expected.
Now, with the moving average crossover and the consistent volume on this bearish move, there is a strong chance to see a bit of a rally soon and then continuation. It is a great chance to consider entering short on a rally to either add to an...
It is nice to be prepared for what could come. The AMEX:XLF is definitely setting itself up nicely for a bullish move.
Yesterday, we had a moving average cross over and the price is pulling back off an establish resistance zone. A breakout here could make for a great bullish swing trade.
The FX:GBPNZD has been working for a while to break out of this consolidation pattern that it has been in. Getting a solid close above this resistance zone could lead to a move to the recent highs. Of course, Brexit woes play in to this and so it is not recommended to put much leverage on any GBP related currency pair at this time. With a very small trade size,...
The FX:AUDJPY has broken out of a long time resistance level and has come back to test it today. Staying above this level, as evidenced by where it closes, could lead to a strong and consistent move upward.
The NASDAQ:TLT is in a short term uptrend and has pulled back to the 50-day moving average, which just about converges with the up-trend-line created over the last few months. Furthermore, there was a gap up on much higher than average volume.
In general, the trend is looking rather weak, so I would not be going for a very large profit target - but from a...
On the Daily time frame, the EURAUD is starting to look rather overbought. It has formed a very nice trendline on the 240 minute chart. Ideally, I would really like to see this get up to 1.6585 area before dropping, but I do not expect that to happen.
I am not shorting yet, but I am watching this pair closely for opportunities to sell.
If you want to see my...
The Canadian Dollar is looking bullish on several charts. Here the CADCHF has overextended itself on the downside. Additionally, it has been bearish in this run for significantly longer than what is average for this currency pair. I call that, "Overextended in price and time." Therefore, I am looking for a bullish move in this currency pair and I am...
I really like the idea of going long the NZDCHF. I have already placed an order. This has hit a previous support zone after having several bearish days in a row. I am looking for about 20 pips off of this - although I do think it could easily go further.
If you want to follow my live trading account, just go to the Darwinex website and search for BPX. There you...
Hello, I have shorted the EURJPY because it has been moving up for a long time.
Now it has broken a beautiful 4 hour trendline and I expect there is a good opportunity here for about 120 pips.
You can follow my live trading by going to the Darwinex website and searching for BPX.
August has not produced much for trading opportunities, but this looks to be a pretty good one.
The EURUSD has formed a Head & Shoulders Pattern and recent broke below the neckline. It is now testing it and this looks to be a beautiful opportunity to capture a potential 1,000 pips. (A Target on a broken neckline is often the distance between the neckline and the...