I got stopped out from previous Long (open 1309 / SL 1299), as the yet oversold gold has become even more oversold. Looking at the Daily Kumo (which is a support zone now) and the trend on the 4 Hrs chart, it is time to pay attention to px action again. I doubt Gold can come down to the real value buy zone at 1280-1290, so watch rather if price breaks above...
What I find really interesting here is the almost perfect similarity in price action compared to what we have seen in early January for about three weeks. (You can check it both on the daily and 4 Hrs time frames). I have been thinking about this annoying market for some time now, and I think sooner or later we will see the correction, so my bias is still Short...
Price action has not been really good in last 2 weeks. Earlier in February I called for a long ard 443-450 levels, but now I suggest to take profit on all longs. Unfortunately I can not publish a 4 Hrs chart on Corn here, but if you check it in your trading platform it suggests maybe a time for contra short is here as well.
In fact it has started consolidation after thev massive correction from 103-104. Here I play it for small long, with relatively tight stop at/below 98,50. (initial risk/reward 1:2). Daily MACD is turning up, some mild bullish setup on 4 Hrs too. Next break above 100 could bring some acceleration.
Please note that both time frames are 4 Hours on this post. The difference is that on left hand side I replaced regular price candles with Heiken Ashi candles, which are good for filterring noise and very often give good indication for price action reversals. (not suitable to trade on them alone as they are kind of lagging candles, do not show the realtime px. Can...
While the weakest chain is clearly the DAX Index, the broader European equity index actually somehow not yet that bearish. However I think this is a classic example what not to touch as a trend trader, until one day it looks like a buy and the next day seems rather a sell. All in all it is a consolidation, with flat and thin daily Kumo, confusing daily MACD, and...
This is what I call fanatic denial! Buy the dip, even the smallest! Meanwhile from inside it is rottenning. I see it is really a big fight to protect this 1850 level, but does it worth? If they want to protect it so badly, they must be very much loaded by now. But hey Bulls, wouldn't it be better to keep the gunpowder dry for the protection of 1800-1810, which is...
This has been one of the most beautyful Bull I have ever seen in my life... and which I haven't played since I very rarely follow CAD. But it is very overstretched now, with MACD negative divergence and Slow Stoch bearish cross on the Daily chart, and with extremely low ADX on the 4 Hrs time frame. The minimum what we can expect here is a correction down to...
... is what the hell this cross would like to do? Seems like nothing can push EUR lower, to give it a good momentum finally. Yesterday with absolutely no news it spiked and probably stopped a lot of players who opened their shorts on the break. At least those guys are not short any more, which is less buying power for the future. I still have my stops at 1,3885 -...
Again, it was ok, to buy at 310-311, on the bottom of the range (flag). But as you can see on daily chart, price action is not so agressive recently, volatility decreased a bit. Indicators are mixed, really like a studycase of a sideaway mkt, so the odds are not good either, I do not see a good risk reward at current 313 level to bet in any directions. Long we...
I think we have seen the correction in Gold, price has become oversold on both time frames: Daily and 4 Hrs Slow stoch are both in oversold territory, and about to cross bullish. What else does suggest the further drop in price will be limited, and that we will rather see the "correction" of teh correction, so that Gold will enter into consolidation? Daily Kumo is...
As I mentionned in previous post, I am already long AUDNZD through Long Call options and I also bought some outright. Not much, since the 4 Hrs Slow Stochastic is a bit overbought and Price has tried to break a relatively thick Kumo on friday. I still think we will first see a pullback to 1,0600 - 1,0610 support level, where as marked we can go for a long entry...
Have no doubt, just buy! Buy the Usd on any possible dips. Downtrend is broken, more and more indicators point towards a longer term trend reversal. I know, there will be resistences, there will be levels hard to push through, but still, from now USD can turn into a strategic long. On USD Index the best value for longs would be 79,90-80,05 range, if it can retest...
After the stop on SP500 short it is time to examine the trade, in this case why it did not work, if there were any mistakes, and especially what can we learn from it? All in all I think it was not a mistake to take teh short treade: timing was good, the setup was clean. Also the stop I think was at a good level. The problem was one thing: I did not realise in...
I have to admit, I do not have too much "luck" trading equities this year. My timing is not very good, and my mind is too much influenced by non technical factors, which tend to block me from going long on equities by technical signals. Last sell round worked well on this index (not like on SP500 wichi can not drop in any circumstances), but now looks bullish...
Price eneterred the Cloud. I think first we will see some more consolidation between 1,0585 - 1,0635. On price dips I still favour accumulating 3M Long Calls with 1,0800 strike price, or put on small outright longs. Price should break above 1,0650 to accelerate the bullish move. Next critical levels are 1,0750 and 1,0850. In case price can break above 1,0750, it...
My previous short recommendation almost bleeded out. But still valid! Daily: Tenkan and Kijun close to each other, it is possible to see a weak sell signal soon. Stochastic crossed up, but now loosing its power maybe. Last two days printed a lower high only, no new absolute uber mega record top printed after FED. And some said that Ms. Yellen will be twice as...
Certainly, gold had a very nice run this year, and of course it has become overbought. We saw a correction from the tops, but ard 1326-1330 there is a good support level (recent uptrend + horizontal on Daily chart). You could ask me why I would like to go long here, when on the 4 Hrs trading time fram the price is clearly below the Kumo, and also other Ichimoku...