ETHUSD update: A swing trade idea was triggered at the break of 543.50 which was published on S.C. earlier today. There is also a follow up article that explains the reasoning behind the trade. As you can see, the trade is in the green for now. This retrace should not come as a suprise though. We have been writing about the support zones and risk of short squeeze...
S&P500 update: The June futures contract is extending its consolidation further. Taking into account the context of the bigger picture, this market is still poised to go higher. Even in the face of a retrace to the 2680s, structure points to a summer rally. In this report I will highlight the levels to watch for and touch on one particular strategy we like to...
AUDUSD update: Although this pair has demonstrated some recent strength, it is still being dominated by bearish momentum. Along with the other U.S. Dollar crosses, this market is likely to push the .7400 area low. Lower highs often lead to lower lows. The high at .7605 is the most recent peak which is relatively lower than the previous high around .7813. A short...
BTCUSD update: Price is consolidating across the board and is poised to break lower in my opinion. While bearish momentum dominates in the short term, triangle formations such as the one developing in this market serve as continuation patterns. If I shorted these markets (which I do not), I would be looking for a day trade at the break of 7312. This is just below...
ETHUSD update: Price has taken out the reversal zone boundary at 614 and has gone as low as the 544 support zone. At this time, there is no swing trade setup present which makes short term decision making simple. As mentioned in other recent articles, environments like this call for the position trade mentality. A setup is a formation, and a pin bar is what...
EURUSD update: The swing trade long from 1.1745 is now in play. In this report I am going to explain the reasoning behind this long, and what adjustments to consider in the face of conflicting price action if it nears the bearish trend line. This trade was called on S.C. around 10:30 AM EST today. The price action over recent weeks has been clearly bearish. For...
GBPUSD update: Bearish momentum has been reluctant but this pair has persisted lower. Price is now nearing a very significant support level of 1.3329. Being over a hundred pips away means there is a lot of room for messy price action, but we are still looking for a swing trade long setup. 1.3329 is the .382 of the bullish structure that is relative to the low...
LTCUSD update: This swing trade has been stopped out at 123.50. This broad market weakness is what scares weak hands out of their positions, and now that this position is stopped out, we will be looking for the next opportunity to buy back in once stability returns. A few days ago I wrote an article about Litecoin and issued a trade call on S.C. The entry was a...
LTCUSD update: Price retreating from the 140 level as the noise in the coins continues. Now that a second lower high has been established, converging trend lines can be drawn to indicate a descending wedge. Formations like these around significant support zones are places to look for strength. If you read my recent LTC article on S.C., I issued a specific trade...
EURUSD update: This pair is poised to go lower based upon the bearish momentum in play on this time frame. The 1.1764 level is still in play and we are watching price action around this area carefully for a bullish reversal. On S.C., we evaluated this market on Friday and described details of a potential swing trade long. That trade idea is still plausible, but...
ETHUSD update: Tricky price action off of the 656 support may leave you confused. Is this a double bottom formation off of a predetermined support? In this brief report I will share an idea to consider when it comes to evaluating a position. The 714 level happens to be the .382 resistance of the previous bearish structure. This level is clearly in play in terms...
AUDUSD update: Consolidating price action after the recent leg of bearish momentum found buyers at the .7400 area. This is probably the most random type of price behavior a market can exhibit which means one thing for us: avoid. Momentum is still bearish even though recent price structure offers the appearance of some minor stability. Often these type of...
BTCUSD: Price is now retesting the 8044 reversal zone boundary. This is an attractive area for longs but there is no signal in place. How the next candle closes will provide important clues as to whether there is a signal worth taking. Drama, it's everywhere. As soon as price moves more than people were expecting, the first thing they seek is "Why?". A story of...
S&P 500 update: After the bearish pin bar appeared and triggered within the predetermined resistance zone, price behaved as anticipated. Selling momentum asserted itself and this market is now in retrace mode. To avoid premature entries in a situation like this, it is important to evaluate potential support in light of the overall technical context. In my recent...
LTCUSD update: Lower high formations across the board imply further weakness in these markets. As bearish as this price action may appear, it is a welcome sign for the next swing trade long. The lower high established at 153 is concerning if you are long, but if you saw my recent long term Elliott Wave count that I published on S.C., you will see that the level...
GBPUSD update: After a significant decline, price has settled around the 1.3551 level which is a reversal zone boundary. The type of price formation that is present would usually call for a long, BUT usually this is followed by a short squeeze which is not happening here. And for this reason, I am anticipating a bearish continuation pattern. The EUR and AUD had...
ETHUSD update: Price has retraced back to the 656 support which is a predetermined level. There is even a bullish pin bar present which can be tempting to enter a long, but just like BTC, this market is also lacking price structure. The 656 level is the .382 of the recent bullish structure which is an attractive level to look for long setups. The question is,...
EURUSD update: Recent price action has been more dramatic since the U.S. dollar has gained strength in recent weeks. It is always a good idea to zoom out during such movements to see how the broader technical outlook is being affected. The most notable change on the broader time frame is the fact that the 1.1955 level was compromised. This is important because it...