BCH has hit the 2618 extension from the 600-878 distance. More over the current price of $1300 suggests a 100% increase from the lows possibly triggering profit taking and some slight correction back to $1030-$1,100
While an impulse straight to $1440 is not out of the picture as long as it remains trading above $1200, longs must be careful for any volatility...
A stock that's moved 90% up from lows which is a 1.414 Fibonacci retracement on the monthly and a nice gapup on the weekly shows me this is a bullish recovery reversal. Although understandable that 19.46 will act as temporary resistance, the more this stays above 18, I will see a persistence for this to go as high as 23-27 in the next year or so :)
I believe that buying at 34.80 is a good risk reward even as it risks going near 34.00 We see a trading range possibility where risk is a definitive break of 34 but a reward of 40 to 42 meriting a buy at this point. More so, analyzing the PSEI shows that Oct 13, 2016 when index hit 7300 versus Nov 3 2016 when index went 7100 shows a bullish divergence using...
First bearish candle last Friday suggesting bulls getting exhausted. Potential reversal zone also confirmed via the Bearish bat pattern at the 1.618 Fibo extension of the B-C leg
Possible short term targets at 2011 and 1991
Average pip movement also suggests volatility has been too low since March suggesting April that this might spike and catch many bulls offguard.
Philippine Index has double top, a bearish divergence using the EPHE/USDPHP spread showing this rally is weak in nature and must be shorted.
Target zones are the 1.00 (full retracement to 29.69) or a newer low at 24.00
Risk reward is skewed to the shorts.
We note that 2015's peak of 8100 has been shown by the bearish divergence based on the index price versus dollars.
Since topping during May 2013, the Philippine index has already been in a bear market. It's currently staging a relief rally which will be capped at the 0.75 level thereabouts.
This spread chart is only an illustration to short EPHE and be...
Gold has simply alleviated the overbought nature made last two days ago capped at the weekly 100 EMA of 1260. Similarly the daily hourly candles point a support level at 1210 and supported by the breakout point of the weekly 200 EMA at 1200.
RSI hourly now shows an oversold buy signal as well
Target weekly = 1260/1310/1330/1380
With the USDCAD trending higher and EURUSD currently retesting the 1.0610 and bouncing off of it at 1.0630; I think we have a good tradable opportunity such that EURCAD can trade into a sideways range with resistances at 1.4280-1.4350 and a short term trend support at 1.4150-1.4200;
Long Opportunity at 1.4230-1.4240
Stop Loss: Place below 1.4190
GBPNZD broke above the 2.3150 and went as high as the 2.3260 (Fibo extension target)
Judging from the strength of GBP on the move, it is highly possible that this pullback is a good entry if it can hold above these 2.31-2.3150 levels for an ultimate target of 2.34
$GBPNZ shows a shorting opportunity on recent rally to 2.3180. Note that this level of resistance hasn't been cleared for quite a while. Target profit is only 2.3106 and further continuation could point to 2.3042.
Place stop at 2.3250
$GBPUSD has retraced only at the 38.2% fibonacci ahead of the upcoming 530pm (Singapore time) on average earnings release.
The gap down coming from previous 1.5350 is indicative that this retracement is merely a chance to short GBP in favor of the dollar which has still room to run.
Stoploss place at 1.5250
Preferred entry - 1.5200 (on any data related...
Fibonacci possible short idea upon any retracements back at the 1.5352 levels and 1.5325 levels. Note that 1.5340 breakdown also broke previous days' short term lows as support. Role reversal at the 1.5350 area. Take profit target at 1.5220 and Stop loss set at 1.5423