It was an epic CPI Thursday on the markets and now we’re in rebound mode. For the USD/CHF, rates are back in range of a key support level: Daily 62% Retracement, 0.9222 If we see the Swissy test the 0.9225 area, be on the lookout for a bullish bounce. Here's the trade: 1) Buy 0.9227 2) Stop loss at 0.9212 3) 1:1 risk vs reward, 15/15 pips
The USD/CHF is in a heavy consolidation pattern on the 4-hour chart. Nearly all of the action is taking place between 0.9262 and 0.9221 Given the tight trading conditions, playing reversion strategies from either of these extremes isn’t a bad idea. Here's how: 1) Sells from 0.9259 or buys from 0.9225 are good reversion entries 2) A 1:1 risk vs reward is...
Structural points seemingly broken on GBP/JPY as the pair pushes against support and shows good signs of breaking free in good time. I expect to see a continuation lower to the next big level based at approximately 155.800 where price may find the next area of support.
For the NASDAQ (US100), there are a few technical levels to keep in mind for the coming five days: 38% Fibonacci Retracement, 14,845 January’s Low, 13,717 Currently, the weekly bearish downtrend remains valid for the NASDAQ. Prices are beneath the 38% retracement and January’s low is in view. Here is a short trade idea: 1) Sell 14,855 2) Stop loss at 14,955 3)...
The markets are processing the data and the odds of an aggressive Fed in March. Now, a key level is set up on the 4-hour GBP/USD chart: 38% Fibonacci Retracement, 1.3524 Here's the trade: 1) Buy from 1.3524 to 1.3534 2) Stop loss at 1.3494 3) 1:1 or 1:2 risk vs reward ratio This is a short-term position trade that may be elected going into the weekend.
The NC pair has completed its corrective and hit a nice liquidity block (highlighted in yellow above). From this point on, belief is that price will continue to trade lower and I would tend to lean on the side of a bear rally right back down to the previous lows. There are several road blocks between entry and target but so long as price continues to break...
For now, USOIL has reversed from a proximity test of the $90.00 handle. As long as today’s top in USOIL remains intact at $89.70, there is one key level on my radar: Daily 38% Fibonacci Retracement, $86.74 If we see USOIL continue to retrace, a scalping opportunity may come into play. Buys from $86.79 should produce a quick 12 pips profit on a 1:1 risk vs reward bounce.
Possible bull breakout in the GBP/CAD. GBP/CAd continues to trade within the longer term range but shos signs of divergence. If it continues, it'll seem as though the pair is trading within a pressure cooker environment waiting for a big breakout either to the downside or upside. For now however, we're simply looking to trade the lower timeframe breakout above...
GOLD closed up modestly (+0.31%) as some investors felt the need to hedge a bit of risk. Now, we have a clear-cut bearish wave on the daily GOLD chart. And, the 38% Fibonacci retracement level is on the horizon: 38% Fibonacci retracement, 1808.43 As long as the daily swing low (1780.36) remains intact, the 38% retracement is a potential supply zone (resistance)....
TLT ETF seems to be in a good place to trade higher. Fundamentals back the technicals which is a really sweet spot for this particular ETF with the 20yr TB's. Expect a rise out of it over the coming weeks back to the previous highs and beyond but only look to "hodl" should price provide us with a bull breakout of the AP which is the previous weekly highs....
It has been a big week for the Swissie as rates have rallied north of 0.9300. Now a Weekly Double Top pattern is in view at 0.9368 - 0.9373. If this area comes into play, a potential selling opportunity may come to pass. Here’s the trade: Sell 0.9364 Stop loss at 0.9389 Profit target at 0.9339 1:1 risk vs reward worth 25 pips Should we see more bidding, this...
Trading is all about having an edge and repeating over and over again, with risk control. You can see here the USD and the GBP are strong currencies. The best currencies to sell against the strong greenback and GBP are clearly those that are pointing down and heading lower. The commodity currencies. The AUD, NZD and CAD. This does not predict the future, but it...
GC appears to be heading into a breakout phase with price just about climbing above the S&D zone at the time of this post. Expect a continuation upwards for a days or two with a nice corrective to retest the S&D zone below. We then will be expecting a continuation upwards to at least the previous highs with potential to continue trading higher thereafter. It...
This is an example of the classic bread and butter break out, retest , trend continuation trade setup . They occur in all time frames. 1. Establish the trend direction 2 Wait for consolidation, 3. Wait for the break out. 4. The retest of the old supply zone (resistance) for bullish trends often acts as a demand zone for entires long. 5 Stop placement below the...
Fed Day volatility has been the rule across all asset classes. For the EUR/USD, rates are on the bear. If we get a pullback on Powell’s presser, a short scalp may come into play. Here’s the short scalp idea: Sell from 1.1344 (Daily 38% Fibonacci Retracement) Stop loss at 1.1357 Profit target at 1.1331 1:1 risk/reward ratio This is a counter-trend trade that may...
BTC has been trailing off for a while now in conjunction with the equilibrium range. We are expecting a corrective to the yellow zone above and are anticipating a continuation down to the larger more significant yellow zone below which acts as an approximate target. BTC can be extremely volatile with large swings so please be aware of this before trading. The...
Capitulation has been the story today, with most asset classes selling off. USOIL hasn’t been spared as WTI futures are deep in the red. Although the long and intermediate-term biases remain bullish for oil, sellers are winning the day. A key 38% Fibonacci retracement level is coming into view on the weekly timeframe: 38% Retracement, $79.59 Here’s a potential...
Gold currently trading within a young range between the floor of approximately 1830 and the ceiling of approximately 1844.00. We expect this to be broken throughout the trading week ahead with price break closing and retesting the technical level above and rising upto approximately 1855.00 as a rough ball-park price forecast. If price fails to breakout of the...