About meA jack of all trade. Been battling markets for over 2 years now. A-lot of school fees have been paid learning but that's what it's all about. Finally been getting the upper-hand thanks to all the great people willing to share their knowledge!
Oil has been selling off increasingly over the past week. So much so it's at extreme oversold conditions and at support(which has broken but not confirmed). We will have to see what happens on Monday.
The coronovirus has everyone on edge which doesn't make much sense, as it apparently would affect demand ... I think they're just trying to justify this extreme...
A follow up to my recent post.
So America came out saying they're not going to escalate except for stronger sanctions and the Iranians seems to be calming down as well. How long this will last is anyone's guess. Both sides are probably planing their next move.
As a result we've seen oil pullback heavily over yesterday. The question now is how far.
We saw good...
Haven't posted in awhile but with recent events in the middle east its a good time for oil as volatility will enter the market.
Iran has made a retaliation bombing against the US. We have yet t hear if the US will escalate the situation. We can expect there will be a escalation as I believe due to Intel the US has been preparing for something like this for...
Near/On Major resistance area.
Selling pressure increasing.
High R/R trade.
GBP had a huge rally but maybe it's time for them to come down and find more buyers. Good Spot for some nice R/R trades.
High volume bounce.
At Major Support.
Still consolidating within channel/flag.
Looking to make a move to the upper end of the consolidation pattern and back to MA's. Maybe a couple of pips to pull.
No real direction is yet determined so this is still either a accumulation zone or distribution. As always, care for the break out either way.
At Major resistance.
Breakdown channel forming.
Third rally completed.
High R/R probability.
Great spot to catch a possible retrace back for more buyers. Major downtrend channel line has been broken upward so be careful for bullish pressure.
First and second target is shown but they could go down to ~1.2550 if they oversell.
An overlooked symbol. Used in wide variety of objects with a steady increase in demand and limited supply. Cheaper than ever right now. Looks like a perfect time to HODL up :?
1 Month Chart:
We have pulled down heavily and it's showing signs of accumulation on the Daily chart. Great entries available for the long term.
Halted at minor support area with high volume.
Overextended pull-down through major support.
Forming a accumulation zone.
This is for the next trading week.
After the large pull-down I'm looking for an entry long. I'm wary that we are in a long term downtrend hence my plan shows points of resistance where price might react violently. Especially at the 12055...
Strong Long term trend line touch.
At major support area.
Bullish reaction to support area with higher volume.
This is heavily a speculation trade with little but support and a trend to go on. Preferably we need to wait for a better pattern to form after a bear rush. The reason for this plan is of long factors that might come into play. They're at a trend...
Long-term trend is bullish
Approaching minor support
Strong pullback from breakdown
I'm assuming this might be a false breakout of major support and gold will continue to range between 1555 and 1485.
Entry opportunities would be ~1475
The breakout was successful topside but on low volume. If 3700 support can hold up and volume kicks in we can move higher to maybe test the 3900 handle. That is if they manage to cross the 200EMA.
If low volume persists it could move down to 3600 again. It looks like there is 2 possible channels that could form (Blue dotted line) and (Red dotted line)...
After the breakout from Dec we seeing the DOW trying to retest the trend line at 25000 but we have the daily 100EMA crossing the 200EMA leading me to think they might pull down to the ~24000 handle. Like many are suspecting the DOW might see a substantial loss this year and give back 2017 bull run to the bears and sink back down to 18000-19000. If they...
Ill make it clear that my bias towards BTC is short at the moment. There is still a lot of room too move down and I personally feel it would be better for BTC for the following reasons.
Overvalued - With promises of being the new financial ecosystem and the craze that ensued we saw emotions get the best and worse of BTC. Thinking it would be...
Greetings all. Hope all is well.
Sniffing around for plays I encountered this nasty symmetrical triangle. Too good to be true, maybe, but it looks so fine ;).
I haven't been up too date with fundamentals so any comments regarding that would be much appreciated.
Symmetrical triangles can go either way so be wary. The dotted line is the width of the last move...