I do enjoy trading metals, This red metal doesn't get the respect it deserves. It's a glorious utility metal, I'm reading; it takes about 25 pounds of copper to make a traditional vehicle and full electric cars require 185 pounds of the highly conductive stuff. It's called Dr. Copper cause it has a PhD in economics (not my term). A very good indicator of supply...
Look at that lovely pattern " Evening doji Star" on the 4 hour S&P500 chart, with price at resistance, RSI overbought, MACD divergence, and how jittery investors are these days. I see a short. I'll be waiting for the news of the day (FOMC) to clear out before I look at any trades 1% Risk, 2:1RR - Happy Trading!
Look at this Shooting Star on the 1 Hour chart. Investors are ready for it. That shooting Star (part of the Hammer family) shows itself and bang!, look at that drop! A nice reminder that traders are ready with all eyes on this overbought index. -Happy Trading!
I don't currently have a position on the S&P500. I was washed out of a few shorts last week. I am fully confused as to whom is buying up this inflated market built on debt? But, I'll trade the charts I guess, I'll be a coiled spring waiting for some confirmation of trend change, like we have seen before when it happens it happens so swiftly. Good Luck y'all
I'm thinking a little more downside to this pair, we have had a push down due to news events, the AUD is suffering. I'm seeing a Bearish Pennant pattern on the hourly chart. Price has pulled-back to the 200 EMA and the 50% Fib of that move. It's a quick grab, I'll go the Break even fairly quickly. What a day in the markets! 1% Risk 2:1 RR -Happy Trading!
What a start to the week! USD strength is impressive, bothersome and impressive! I see a trade here, I have set a forward order at the weekly pivot, we have a nice clean Hammer that has formed on the 4 hour chart, USD index is overbought and I'd be looking for a little "reversion to mean" trade here, I think more USD strength in the longer term. I've laid out the...
I see some downside on USOIL/WTI - about time. Price has made it to a previous resistance area. It has started to roll over on lower time frames. We have an over bought RSI, MACD divergence on the daily and a very clean "Bearish Pennant" pattern developed on the weekly chart. I'm just looking for a 2:1 snag here, maybe let some run to the next support area at $42...
I am seeing an inverse Head & Shoulders pattern on the USDJPY, I'm torn about this pair, it is a very clear pattern. trade the charts I guess? 1% Risk, 2:1RR - Happy Trading!
Look at these last several hours of candles. Not much happening here. Diminutive candles showing straight up market apathy, It's a holiday today in several countries....nice reminder that traders are people to. -Happy Holidays!
I am seeing a potential short here, price has dropped nicely, breaking a trendline to the downside. We have retraced back to the 61.8% Fib level and you can see price is failing to break that (at this point), it's a holiday so who knows how this will shake out. That 61.8% Fib level lines up nicely with a previous resistance zone. Nice clean chart, clean entry,...
I'll be keeping an eye on this developing downward pressure on the S&P500. We have had price drop through an hourly trendline. Maybe I will set a 50% Fib entry on the retracement of this drop, more downside potential? we will see.
I see some downside on the S&P500, I am typically a contrarian trader by nature, We have had a significant bearish engulfing candle pattern setup last week, The MACD is presenting as "true MACD divergence" We had the push down but I'm seeing this recent retracement as a nice opportunity to get in at the $2840 level which lines up closely with a Weekly pivot and a...
I've laid out my idea...Bitcoin, I think you're retracing a little further down. Bearish pennant, MACD, retracement to the 50% fib level. Huge run up as of late. Lets see where this puppy goes. 1% Risk 2:1RR - Happy Trading
I personally do not use facebook I see a short on this stock, funda-metally its seen nothing but bad news, surprising people are not more against this software...lest I digress... Technically, I see a shooting star on the daily, price has built up to a previous support level, now resistance "change of polarity", True MACD has presented. RSI is approaching...
I fear for this stock, Jaguar, Porsche, BMW, Mercedes, and basically everyone is introducing their own electric vehicles, Tesla is not the prettiest girl in school anymore. I am seeing a "death Cross" yes! that's what it's called, when the 50 & 200 Daily EMA's cross to the downside. Price has hit a previous support/resistance area, which is inline with the 61.8%...
Firstly, You guys seem to love your crypto on here. I had a look at the "Bitcoin" as you kids call it. The last move up is encouraging. There may be a potential short, but I would be looking for longs only right now. Ok so, I see price relaxing from where it is and would be setting a forward order at the 50% Fib from the current move. This area lines up with...
I see a short opportunity on a over valued S&P500. We have had an aggressive move down after Price hit some major levels (I think most are surprised how far north the SPX went after it's drop last year. Ok so, I do see a bearish pennant developing on several charts, I see a previous resistance line, pivot, 50% Fib of the last major move down, the 34/55 EMA's in...
Here is my thought on the S&P500 short. I see the pivot on the 4 hour chart and price action has had a nice run up. If price aggressively breaks and closes above the 71.8% Fib I will most likely leave it alone and look for longs later or double top formations etc. always be adaptive...we have no other choice. I am not in the trade currently but would take a...