I'm not a gold or silver bug but it's no secret that I never sell metals at discounts.
This is the gold/silver ratio AUGUSD. Historically, silver has always been about 16:1. It's even mentioned in the US Constitution.
We know Comex (Crimex) loves to trade paper. We also know they were forced to take the BS silver short position during the 2008 debacle.
There's a 200 and 240 EMA up here on the H4 bar which is perhaps the reason for the wick on daily and price rejection to go higher.
Nevertheless it closed outside engulfing down on the H4. This is my first entry to get short for the long term.
As a trend follower I often times am conflicted with what I think is right and what price is doing.
This is one of those times. Nevertheless I always follow my rules.
Here is a EURGBP short setup with trend lines, price projection and profit target if you would like to follow along.
This could get interesting quickly.
The last couple of times there were financial problems with the Fed and they started messing with rates. As you can see each time there is a down turn in recent history we've had historical corrections to the down side or extreme bear markets.
It looks like we're rolling over yet one more time. What will they do tomorrow? Lower the rates? Start up QE...
I wasn't expecting Powell to reverse the dollar direction on last Friday. However I was able to take some profit off the trade.
EURUSD is currently in a pull back sell zone on H4. I am looking for a continuation down. Many analysts are saying to short dollar but I don't think it's quite ready to sell down as of yet.
Sell stops for this trade are below a 20%...
Monthly Bearish ABCD Setup for 2019 forming on DXY.
EU is also set for a rally to the upside beginning in first quarter 2019.
Given that the dollar could very well enter a bear market here I fully expect that the deflationary period we've been experiencing will soon come to an end and that an inflationary period (possibly hyperinflation) could soon slam US...
They say a picture is worth a thousand words. Pay attention to what's happening here with the bond spreads.
Over the past few years we see that when the spreads are down and ticked up that we have a serious problem in the markets.
As you can see here we are back at the same setup from the past two market crashes.
USDCAD Closed lower last week which is an indication that a short trade could possibly be found on H4 this week. The target for this trend would be the ABCD of the weekly support in the 1.24 area of interest.
While I can't recommend taking a position just yet, it is important to be aware that this setup does exist and is possible. Manage your risk accordingly and...
It's been a rather funky week so I've had to fall back on a couple moving averages to look at the chart and see which way I'd like to trade.
The 50/100EMA cross is a nice early warning signal on the daily charts for equities. The target is the weekly support area below.
I have to admit that yesterday's failure GBPUSD is followed up by an opportunity today to trade back to the 1.3210 area.
Price is starting to break lows up here in the resistance area.
I'm already in the trade. Good luck!