SynapseTrading

SynapseTrading

This pair has been on a long-term downtrend since 2000, which means that long-term position traders will generally be looking for large pullbacks as a shorting opportunity. After an attempt to push prices up, the move has has failed at the neckline, currently forming a double top which may be the start of a swing downwards. The recent large bearish candle could...

SynapseTrading

This pair is nearing a major trendline, which could provide some support from its recent bearish price action. However, if we zoom out, we will see that over the past 2-3 months, it broke the neckline of a huge bearish head-and-shoulders pattern which spanned more than a year, signalling a very bearish outlook ahead. As such, it would make more sense to look for...

SynapseTrading

This pair is somewhat erratic, in the sense that it is moving sideways in a large range, making it hard to trade, especially now that it is in the middle of the range. Generally, for large ranges, the best strategy is to buy low and sell high. Based on the recent price action, it is possible that it make have another leg of down movement to the long-term support...

SynapseTrading

This pair is now at the top of the trend channel, and could start having another swing down. The R/R is good at the point for a short trade. There is also some bearish price action showing on the recent few candles. However, price is currently above both the EMAs. If price gets supported on the way down at these levels, then it may form a new base of...

SynapseTrading

After a few false starts last week, we are finally seeing the buyers step into Gold, judging by the latest bullish price action. Price has successfully tested the resistance-turned-support, with a confluence at the 20 & 50-day EMA, which all provide good support for prices. I am currently long on this counter, and should the bearishness in the stock market...

SynapseTrading

After hitting key resistance, this pair had a huge bearish engulfing pattern, which is a sign of bears stepping in. With the US Dollar Index also hitting a roadblock, it seems like we will see a temporary (or long-term?) decline in the USD, at least till the NFP later today. I would rather be short than long at this point of time.

SynapseTrading Updated 

After our last predicted move down, the S&P 500 has been bearish for the past 2-3 weeks, and has fallen all the way to the target trendline. While there is a high chance that this might lead to a bear market, there is an even higher chance of a small rebound first. The key will be where the rebound ends. If the rebound falters before testing the prior highs,...

SynapseTrading Updated 

The US Dollar Index has been bullish recently, but it is now at the prior swing high. Will it be able to cross over? While the market has experienced "Risk-Off" for the past few weeks, we might finally see a rebound in the equity markets, which will add some strength to the USD. However, this might not be sustainable. We will need to see the price break firmly...

SynapseTrading

This pair is now at the bottom of the bullish price channel, making it a low risk trade to go long now. There is strong resistance near the top, but there is enough room for it to go up to make it a viable trade. The most recent bar shows strong buying pressure, which is a good sign for entry.

SynapseTrading

After breaking down from a multi-month range, this pair has pulled back to test the breakout point. This could be a good opportunity to take a low-risk short trade, as the next support level is still quite far away, and the price action looks weak overall. If you are more cautious, you can wait to see if price pulls back further to touch the downtrend line...

SynapseTrading

Since its highs 2 months ago, the price of Facebook has declined about 36%, which is almost 1/3 of its value. This is surely not a good sign. To make things worse, the probability of further decline is pretty high. After forming a double top (it could also become a H&S instead if it forms a right shoulder), the price has also broken the neckline, which by most...

SynapseTrading

Since our last predictions on the Straits Times Index, the price has continued to fall from 3300 to 3000, and then below it. At this rate of decline, is there any support or bottom in sight? I generally do not like to do projections, because most projections are just guesses. The best way to know is to observe the price as it moves, then you will know when it...

SynapseTrading

This pair is probably one of the best shorts at the moment, with many bearish factors lining up. Firstly, if you zoom out, you can see that it recently completed a bearish H&S reversal pattern, and after a successful breakdown, the price has now come back to test the breakout point. Second, the breakout point is now a support turned resistance. Lastly, prices...

SynapseTrading

This pair has formed a mini double top in the middle of a downtrend, which is not officially how a double top works, but it still brings the same bearish connotations. If it manages to break below the prior swing low, then it is really going to drop like a rock. I am currently short with a small position, and will continue to add more if the next support level...

SynapseTrading

This pair is looking very toppish after running into resistance, and has tried (and failed) twice to break new highs. It now looks like it might be heading downwards instead. I am taking a small short position, and adding more if it manages to break down from the yellow box. Good luck!

SynapseTrading

This pair has had a decline after running up into strong resistance, and is now resting on the bullish trendline. Will we see prices break below this trendline, or will it serve as a rallying base to build up buyers for another test of the resistance? I would take an early long position now, and use a tight trailing stop in case the support does not hold up.

SynapseTrading

This pair has fallen quite a bit, but it looks like it might still have one more leg of decline left. After bouncing up from the strong support level, prices were unable to stay up long, and ultimately formed a bearish pin bar. Since prices were rejected on the upside, there is a strong possibility that prices will head down to test the support again.

SynapseTrading

This pair is showing some serious bearish price action, after breaking the bullish trendline, while at the same time forming a bearish H&S pattern. The price went on to break the neckline of the H&S, further declining and showing more selling pressure. I am currently short on this, and will continue to monitor.