S&P had a nice pullback which seems to be ending. There is also a falling wedge pattern forming on the 4h which typically does break to the upside. Eventhough it looks like it wants to set a low here and continue trending to the upside. Nothing is confirmed until we get break of the falling wedge.
There is a nice trade possibly aligning on the S&P 500. Currently we are approaching a major resistance level. I would expect a pullback in that region but i would see this pullback as a nice opportunity for a trade. A pullback would put the indicator on the chart into a perfect position for giving us a buy signal.
GBP/JPY is looking like it wants to rally again. We can see a potential continuation signal forming on my momentum indicator. Lets see how it plays out.
The overall resistance levels are still the same.
GBP/JPY finished the day off strong. Currently it is trading right below the 0.618 fibonacci level but i think it will break through it shortly since my momentum oscillator signaled a beautiful buy signal along with the expansion of historical volatility percentile from an extremely low area. This kind of signature usually produces a major shift in the trend of...
There is a new opportunity on GBP/JPY. There are two different trade possibilities. One to the upside and the other to the downside. I am biased to the upside since we can see my trend determining indicator in a very bullish posture. But for the confirmation of the signal we need to first break the overhead resistance at 132.7. If that fails we still have a nice...
S&P 500 is looking like it wants to give another try to the upside. We can see my oscillator in a bullish posture but we can also see a lot of overhead resistance so i would keep an eye on it. I can see potential long position on the retest of the 200EMA (pink color).
Yesterday i was looking for a breakdown on the GBP/JPY. We retraced a bit but couldn’t break the support. Now we are resuming upwards and i am looking to go long. But we first need to break the overhead resistance at 133.8. Keep an eye on it.
A potential play on GBP/JPY. We can see a death cross being confirmed and the price action getting pulled right into the cross. If we resume down from here i would be expecting price to come back down into the 130.8 ish range. We could see a bounce in that area but i think it is more likely to find a bottom in the 129.4 ish area.
After having a major retracement s&p 500 is looking strong again. We can see a perfect buy signal on my indicator being confirmed(the blue oscillator line being pulled into the white which is supported by the pink line and bouncing off).
I will be looking at the drawn resistance lines and how price reacts at each one. I would especially be aware of the price...
We can se yesterday’s daily candle found some support on the 100 moving average . Today we started the day of by pumping pack up again into the 21 EMA. Will the price action get rejected from 21 EMA? I don’t t know but it i still opened up a short position in that area simply because the risk is pretty easy to manage.
What do you think. Do we resume upwards or...
Bitcoin has given us another short signal. Those signals have produced major shifts in the direction of this asset in the past. Will this be an exception? Not likely, but everything is possible. Thats why good risk management will always be the key.
We were extremely close to a golden cross on the S&P 500 but todays price action puts this into question. It is starting to look like a major fakeout. Are we going to make a lower low? I dont know, currently we still have 21 EMA on the weekly as support. And with price action above 21 EMA i can’t exacly be looking for a lower low be set.
We can see a sell signal forming on the 15minute timeframe. The blue line as we can see is bouncing pf the white and white is also crossing down the pink. Thats why i think we will be getting a bit of a pullback.
Every trader has got himself into a loosing trade. This is simply the part of this game. You will never be able to predict every move correctly. The biggest thing that separates a profitable trader from an unprofitable trader is actually not better technical analysis or more experience. The biggest factors in my opinion are trade management and risk management....
The last time we have seen this kind of setup we had another major retracement. Will this time be different? I guess we can only wait. But i would be very careful being bullish on traditional markets right now.