Sohtionghum

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Joined Singapore sohtionghum
Markets Allocation
52 % forex 32 % indices 16 % other
Top Mentioned Symbols
AUDUSD 20% | 5 DXY 16% | 4 EURUSD 8% | 2 DOWI 8% | 2
Sohtionghum Sohtionghum DXY, D, Long ,
DXY: DXY bullish continuation
43 0 1
DXY, D Long
DXY bullish continuation

I don't see a bearish reversal chart pattern so I am treating this as a bullish continuation setup i.e. a bit like a flag-like channel. At this moment, DXY has recoiled from March low so I am taking that as a support and for the whole April correction to be a retracement. MACD paints a slight bullish divergence.

Sohtionghum Sohtionghum DXY, W,
DXY: DXY caught in zone
16 0 0
DXY, W
DXY caught in zone

Overall trend is up and there is no reversal pattern. But from this point on, caught between resistance at 85.03 an support 84.03.

Sohtionghum Sohtionghum USDHKD, D, Short ,
USDHKD: Major divergence; USDHKD to fall when DXY reverses
29 0 0
USDHKD, D Short
Major divergence; USDHKD to fall when DXY reverses

The Hong Kong Dollar is pegged to the USD. There is gathering momentum in the belief that the HKD has to de-peg from the USD. At the moment there is a major divergence in the two: I interpret this as 1) a persistent strength in HKD 2) investors do not believe the DXy gains are sustainable. When DXY reverses is when we see HKD break to the downside which HKMA has ...

Sohtionghum Sohtionghum DXY, W, Short ,
DXY: Dollar Index next leg down after strong reaction to resistance
126 0 2
DXY, W Short
Dollar Index next leg down after strong reaction to resistance

Dollar Index reaction is a strong price action to an established support resistance zone as marked by arrows. Next leg down to test support and potentially lower.

Sohtionghum Sohtionghum IUXX, D, Short ,
IUXX: NASDAQ confluence of short themes
44 0 0
IUXX, D Short
NASDAQ confluence of short themes

1. Right shoulder of head and shoulders reversal chart pattern 2. Upward wedge with downside implication 3. Price at resistance 4. MACD down trend and doing retracement at the moment

Sohtionghum Sohtionghum DOWI, W, Long ,
DOWI: Who needs fundamentals when this chart says BUY
40 0 0
DOWI, W Long
Who needs fundamentals when this chart says BUY

This is an overlay on weekly chart 26-week, 52-week and 104-week ema. Price action clearly shows reaction to these MAs despite the unusual setting. As we can see, there is no reversal chart pattern, the MAs are wide as ever and now DOW is near the all time high. This rally is going to continue until it doesn't so anyone who does not agree should stay cash and not ...

Sohtionghum Sohtionghum INX, W, Short ,
INX: Jim Chanos says Sotheby's have peaked before every bubble
272 0 1
INX, W Short
Jim Chanos says Sotheby's have peaked before every bubble

"Closely watched hedge fund manager Jim Chanos says he has the best barometer for gauging where 1 percenters are putting their money, given the Federal Reserve's easy money policies that have been fueling their portfolios to record highs. During an interview Thursday on CNBC's "Squawk Box," he pointed to the stock chart of Sotheby's." Putting the S&P and ...

Sohtionghum Sohtionghum AUDUSD, 240, Short ,
AUDUSD: AUDUSD a wedge?
45 1 1
AUDUSD, 240 Short
AUDUSD a wedge?

It is true that AUDUSD made a new high for 2014 but looking at the big picture, it is still dominated by a long trend line drawn from the top of early 2013. There is also a wedge pattern to consider. Price action obviously recoiled from the resistance. Until overhead resistances are cleared, risk proposition appears to favour short.

Sohtionghum Sohtionghum AUDJPY, D, Short ,
AUDJPY: Retest and fail = Resistance good?
36 0 0
AUDJPY, D Short
Retest and fail = Resistance good?

Price will choose path of least resistance/

Sohtionghum Sohtionghum AUDUSD, D, Short ,
AUDUSD: Retest and failure at horizontal resistance will set up short
41 0 0
AUDUSD, D Short
Retest and failure at horizontal resistance will set up short

AUDUSD ran into a confluence of trend lines. By failing below the black horizontal resistance level, it turned the recent rallies (green zone) into a bull trap.

Sohtionghum Sohtionghum AUDCHF, D, Long ,
AUDCHF: Retracement to 2013 3Q low, needs to penetrate to gain more
27 0 0
AUDCHF, D Long
Retracement to 2013 3Q low, needs to penetrate to gain more

It may or may not be a head and shoulders. A short term retracement to 2013 September low possible. But further gains based on a head and shoulder reversal depends whether price will penetrate this resistance. If not, then price action could turn into a channel or triangle continuation down.

Sohtionghum Sohtionghum EURUSD, W,
EURUSD: Long term trend lines for EURUSD
47 0 0
EURUSD, W
Long term trend lines for EURUSD

These are long term trend lines for EURUSD which simply show the pair at resistance. Direction to trade should be determined at lower timeframes although EURUSD momentum at this is up.

Sohtionghum Sohtionghum XAGUSD, 240, Long ,
XAGUSD: XAGUSD looking for support
36 0 0
XAGUSD, 240 Long
XAGUSD looking for support

Unless XAGUSD breaks below 18.50, the direction is clearly long. However the key thing to do at this moment is to look for support. $20.60 was tested once last week. A re-test this week will tell us clearly whether it is good.

Sohtionghum Sohtionghum XAUUSD, D,
XAUUSD: Gold at multi-month support resistance
229 2 2
XAUUSD, D
Gold at multi-month support resistance

A steep rally calls for a substantial retracement and consolidation before new entrants find a good entry to move price to the next level. Therefore this two day correction in Gold may not be enough. That also means that this horizontal level around 1350 could be just temporary. That said, short terms traders may find opportunities while bears must watch out.

Sohtionghum Sohtionghum DOWI, D, Long ,
DOWI: Dow Industrials 200-day EMA as roadmap
33 0 0
DOWI, D Long
Dow Industrials 200-day EMA as roadmap

See chart.

Sohtionghum Sohtionghum AUDUSD, D, Long ,
AUDUSD: AUDUSD short term doing reversal but long term to beat trendline
38 0 1
AUDUSD, D Long
AUDUSD short term doing reversal but long term to beat trendline

AUDUSD appears to have broken the short term down trend (zoom in to recent 6-months) and is doing a bullish reversal. It is at the resistance at this moment and once it penetrates, still has to beat a very long term trend line on top. Swing trades can take a step at a time.

Sohtionghum Sohtionghum AUDUSD, D, Long ,
AUDUSD: Inverted head & shoulders; higher lows speak of bullishness
67 0 2
AUDUSD, D Long
Inverted head & shoulders; higher lows speak of bullishness

See chart. Trigger is tricky. Buying now = entering right at resistance so asking for a high level of confirmation or tight risk management is necessary.

Sohtionghum Sohtionghum DXY, M, Short ,
DXY: Dollar Index found resistance, has to find support
47 0 1
DXY, M Short
Dollar Index found resistance, has to find support

The index found horizontal resistance after a test, re-test price action so it has to find support. Overlay of fib retracements using the big patterns show a congestion zone. If broken below (around 78.8), there are plenty of open spaces to fall quickly.

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