SDMarik

SDMarik

For a while now technical analysis on Oil has been pretty much meaningless, but now that we are off of the extreme lows, it looks like oil is going to be trending around in a range between the high 30's and high 40's for a while now. There are a few levels that can prove interesting (60-61 to name one), it looks like the market is going to begin to de-correlate...

SDMarik

A lot of people have called bottom for oil but I am inclined to think that it still has room to fall. I think this last mini rally was a combination of people calling bottom and the third short squeeze (albeit a small one) since this time last year. Once the short covering is done the bears will take over again. Hop in short and wait for stops to start triggering...

SDMarik

USDCAD is under some good pressure and is set up for another breakout, over the past 2 weeks each time it had a nice consolidation the volatility that followed the breakout gave us a nice sharp sell off, this one should not be any different.

SDMarik

USDCAD is building up some pressure and a breakout can be expected in the near future. Wait for a breakout under the support line (which has been tested multiple times already) or a breakout and close over the trend line on top of the descending triangle. There are also a few different moving averages, (20,50,100) that should add to downward pressure on the D...

SDMarik

USDCAD is sitting right on a level that has been showing a strong support/resistance over the last couple of days. This also happens to be a second fib retracement level. It has consolidated nicely, the overall trend is definitely bearish since the beginning of the month. I am not one to base trades on candlesticks alone, but they can offer nice confirmation, and...

SDMarik Updated 

GBPUSD has responded well to the resistance it has developed on its upper trend line (4h) and has broken the support underneath it, which is also the first fib retracement level. The move is made more significant by the fact that it also broke its 100MA after trying to test it and started a sharp run downward after that. It was bouncing between its 100MA as a...

SDMarik

USDJPY just broke a very well tested support level and sold off pretty hard. If you do some research you can see that there is a decent amount of orders down at 111.00 that are creating some good support. There can be a few trades here. You can wait for it to retrace back into that resistance and bounce back into a short..or it may just consolidate here in which...

SDMarik Updated 

Look for EURUSD to break the bottom channel support. If it can break, wait for it to come back and retest the line as resistance, if we get a small consolidation at or slightly above the line, wait for a second break and hop in short down to 1.1110 It is not uncommon for a pair to break a support and than come back to push through it slightly while it retests as...

SDMarik Updated 

No mystery that USDJPY0.89% has been on a sharp sell off recently, I think there is till more room left to the downside. The past 2 days are most likely full of a lot of profit taking from swing trades on the short side. Watch for a quick break over the bottom res line and a consolidation between that and the upper res line/fib level before a breakout downward.

SDMarik

When first getting used to watching charts, drawing chart analysis, trend spotting and learning how to interact with your charts and forecasting, try your best to use charts with larger time frames. The reason for this is 3 fold: 1)smaller time frame charts have too much noise, trends and analysis on a 4h or 1D chart are going to be far more accurate than that of...

SDMarik Updated 

Looks like we can be getting up for a short on USDCAD if we break under bottom support (which we can easily do) and it can run pretty far down if oil continues its sell off. There is also a possible breakout long if you want to wait for it to break an consolidate over the top support line. Remember, if you break a support/resistance it is not uncommon for it to...

SDMarik

There has obviously been a ton of attention on gold recently, but silver trades in a very similar fashion to gold, and will also have a nice run as our markets and dollar continue to fall. It seems to be on the verge of a nice breakout, it has establish multiple tops on its trend line and recently broke though its trendline and first fib level. If it can...

SDMarik

With the Market starting a correction, a few FOMC decisions that bump rates will easily cause the dollar to retrace a lot of its gains it has made due to the market tear over the past couple of years. The overbought equities markets and equally over extended USD will start to see substantial corrections over the next 8-12 months.

SDMarik

The S&P is poised for either a nice rally or a collapse under its support, I would be more inclined to enter a trade on the short side once the support is broken. If oil continues to fall it is going to drag the market and the dollar with it, couple that with the tear gold has been on I think that we can see bits and pieces of what will ultimately become a sizable...

SDMarik

With some weaker dollar trends in the near future it looks like a good time to start thinking about a long entry for EURUSD. the current trend since the beginning of this month is bullish and there is a nice level that has some prior testing (right around 1.1500) coming up that could make for a nice breakout. It seems to be retracing to and bouncing off of its...

SDMarik

USDSEK set up for a quick pop on the up side, if you're looking for a quick trade for some fast pips this might be a good opportunity, I would not consider it a buy/hold but if you time an entry correctly you can be good for 100-150 pips

SDMarik

I'm sure everyone has seen the tear gold has been on lately. I think there is still plenty more room to run, especially with what I think is coming down the pipe in the equities markets. We can see a little pullback down to 1180 first, between a possible bounce in the dollar and people taking profits on their gold trades I think we will see a pullback and bounce...

SDMarik

USDJPY took a quick beating after it broke its support this week, the support line that it broke is also its .764 fib retracement so expect that to act as a very significant level of resistance once it gets back up there. However, it seems to have bounced off of its fib (.618) line for the second time now so we might have a little pullback to ride before the...