Following some selling off over the past few weeks we can now see that price has broken above the downward trendline, indicating a potential continuation of the longer term uptrend. We haven't seen a solid retracement on the weekly chart, however it may just be enough for this market to surge forth upwards. In any case, a limit buy order above the mentioned...
Following the last update, the S&P500 did in fact push higher, breaking above an ascending triangle, continuiing it's bullish rally. If the the shown channel is anything to go by along with the idea of reverting to the mean, we can almost assume that price is due for a retracement. Although price has begun to retrace somewhat, it may not be the end of it before...
Although we see some divergence on the daily chart, there is no solid suggestion of a pullback yet on the weekly or monthly charts. In fact, with the formation of an ascending triangle I would not be surprised if SPX pushes even higher...
Already having made a reversal with divergence on MACD, there has been a pullback with bearish candle suggesting further downward movement. I'll continue to look for entries on the weekly and daily timeframes..
Here's another aussie pair that looks bullish. Following consolidation and divergence on the MACD we can see possible reversal and continued movement upwards. I am therefore bullish this pair.
The bullish divergence on the monthly chart could be setting the scene for a steady move upward Although we're yet to see price break above the downward trendline, once it does and retraces I'll be looking for long entries.
Following divergence on the MACD and a break of a downward trendline on the monthly chart, I am currently bullish on AUDJPY. There may be a pullback on the weekly and daily charts providing a good entry point. This pair may be offering a good opportunity of position building over a 6-12 month period. Let's see...
