AAPL broke structure and headed into a deep downtrend. Bulls may see this as an opportunity to push the market higher, however this push will be overtaken by an overall market slope.
DJI is in a clear downtrend. The market formed a double top, broke the neckline of current formation, and completed its first bounce. After the bounce, which I suspect is almost over, the market will continue its' downtrend.
AUDNZD broke a key support level AND a key resistance level. Looks to be continuing the downtrend. The pair is up on the day. Waiting until the pair hits the previous resistance level to determine if it will be rejected or break through. If rejected, SL will be above resistance and slightly above trend line, and a move to the support level will be in...
Everyone is in debate about whether EURUSD is going to go up or fall. Many think it will fail, while contrarians such as myself, feel the shorts may get trapped. Only time will tell. The US Markets are in a slump and the government shut down is making the dollar loose a lot of steam.
EURUSD may take a nose dive, but we are all on the sidelines waiting for...
Everyone is speculating EURUSD will take a nose dive. While this may be true, the US Markets are due for a slight pullback before heading lower. This could cause EURUSD to spike temporarily before heading lower. The weekly chart shows a failed head and shoulders pattern, with is a bullish sign. I too believe this pair will continue to fall, however I think it may...
EURUSD appears to be reversing its bearish trend, however it has not yet violated the bearish channel. For these situations I find it best to trade within the channel in case it does not experience a bullish breakout. The entry is set low (expecting pullback) and the SL is set tight. The SL is below the lower trend line. -StampsFX
JPYAUD appears to be forming a bullish flag. Too early to tell, but if going bullish it is usually a good idea to wait for a pull back. Waiting also gives you the opportunity see any sharp reversals and change your mind. Expecting to see a pull back/sell off because of the recent bullish activity, however if all goes as planned it will continue to rise higher and...
Trending down USDCHF. If the trend maintains its structure, we may see a small bounce followed by a heavy downtrend. Since price is at the lower trend/channel I am looking for a sell entry closer to the upper channel/trend to ride it back down.
NZDUSD has breached a major weekly level. The upper trend line was also rejected. Looking for a retest back to the lower trend line and possibly a break of that trend line. -StampsFX
EURSEK : Price is consolidating. It will break out very soon. The double top indicates it may break out to the downside, however we need to wait for confirmation because price is at a very strong support level. EURSEK
CHFJPY Current structure displays a bullish channel. If/when the formation breaks, price will break out. Price is making higher highs and higher lows. Setting the SL below previous low, which will indicate a weakening trend. Otherwise, we ride it up to 115.120 level.
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