$GDX Looks to me like it is going through a 2 and half week to 3 week consolation cycle before continuing its rally, that started with a breakout and subsequent bull market end of January, start of February. (Which was right about when I got into trading more seriously.) I am unsure of which way to go here. This Brexit thing has been an incredible learning curve...
$SPY Weekly look is kinda bearish.
It has bounced off key technical indicators but it is pretty bearish. The repeat patterns are just too eerir.
We might just see more range trading like the past 84 weeks(Highlighted yellow) minus to the dips (highlighted red)
What do you guys think?
Futures didn't get any higher after US Close. I am looking for a big short soon. Miight see a few bounces between this latest channel.
Rate Hike off the table, UK Out of Europe. Severe capitulation in most FX pairs - Down down 600 points.
This could be bad over the next week, maybe even sooner if some big bombshells get dropped.
Gold broke 76 handle few moments ago
Looking for a quick TP soon at 39 levels now that more interest has been put back into USDJPY
GBPUSD now on the decline after hitting its limit at where the referendum date was set.back in Feb.
A lot of bearish Gold charts getting thrown around.. BUT, GOLD is still In an overall uptrend and the only thing that will change that is what the market makers do Thursday/Friday. I am taking long positions and selling on rallies - A lull in volume suggests it is waiting for its next big move - Probably U.,S open -
Nice to see things like this. Gets me excited at whats coming next. Gap fill!? Rally?
Remain take the lead once more in the Brexit polls which could potentially mean more upside for Stirling today. I am personally out of *All* FX trades and many other instruments until after news break of Brexit result. Too much volatilty and risk for a new trader like myself!...
We have to keep instruments like this under a close eye over the coming week. Although a lot of indicators and paterns pointing to a breakout, it is clear that Brexit worries are keeping it down for now. I expect it to be a flat week until Thursday evening/Friday Morning of the 24th. Neautral
But I like the repeating Head & Shoulders bottoming patterns!
After it's all time low a few weeks back, GPRO has made a bit of ground. Slight retrace back to $9.50, but following candles and Friday's closing volume gives me hope for an impressive move to be seen from the Mounted camera makers. Long
RSI says oversold but everything else says it has further downside to come. Might not last long but for now I am short.
14th Candle cleared it of is vital MAs and it's probably got more room to slip. To the upside it could test 68 again and bring RSI up to 50 again before the trend continues. We will see if it gets rejected from here on Monday
I like the look of $MCD at the moment it is looking quite healthy and ready for another pop. first target for Monday 123-124. But I am hoping for a gap above that on open.
Hate the food but I'll happily get into their stock if its going to pay off! No entry until good confirmation though.
Pretty neutral here looking at the charts.Could go either way but looking to some more upside of 1350-1400 areas
- Could be a lot of pop if the bulls let it get to the February lows of 1180-1150 areas Perhaps not even that far! Have a good weekend everyone
Not a bad call from Thursday! As mentioned in last idea, markets everywhere were red today! Maybe the winds of change. There were a few stocks up in the green defying the market. Will post them later/this weekend!
Overall It is still quite bullish but the current EUR markets are waning on stocks. In fact most stocks were in the red today for the most part. Just goes to show that its good to get some solid confirmation before placing any trades Would of got done for some nasty slippage if I had gone long Monday!!