I think now is a good time to add an extra short position to FTSE100. I am still short from 6312 and 6300 and looking for new lows to be made.
TP1 = 5800 support zone
TP2 = 5725 (bearish trend to continue)
I believe UK stocks and the FTSE index in particular is due another bearish wave now. Price is in the perfect region for another lower high to form and selling to begin once more.
Using the fibonacci retracement tool on the 4hr/daily price waves there is the 0.786 level above to act as resistance. Price is in the region of the daily 50EMA with longer term bearish...
I have a long term bearish swing trade bias on NZDJPY and the 4hr timeframe is now looking good for a further entry.
Nice retracement to the 0.618 and price support/resistance zone. Simple trend with lower highs and lower lows being made on this timeframe. Price has pulled back in to the 4hr 200EMA zone.
Price targets are on the chart.
GBPUSD looks like it is beginning to rollover to the downside once more.
Technical analysis shows a bearish trend with 4 waves completed and price looking like its trying to push to the downside to make the 5ht and final wave. I am bearish on the USD but the Pound is weak right now and you can't argue with these clear technicals.
Let's see if Cable can make a...
Technical analysis supporting fundamentals of the 2nd wave of virus globally, unemployment rising etc. etc.
- Bullish supporting trendline.
- 4hr chart showing higher highs and higher lows.
- price looking likely to open at the lower trendline.
A higher low forming around the 26.00 level could be a good long trade entry to catch the next bullish...
Potential for a intraday reversal to occur here with a lower high to form. This would then see price start to make it's 5ht bearish wave down to a new lower low at the 27,500 support zone or lower.
Price is inbetween the 0.786 and 0.618 fib retracement levels so shorting would need a conservative stop loss placement in my opinion. There is the 1hr 50EMA to keep...
It is no secret that all central banks are now willingly and actively printing currencies to keep stock markets afloat. The U.S are leading the way and the dollar is weak. Against other currencies that are also seeing money supplies increase, the effects of increased Dollars is diminished but against Gold, which cannot be printed, we are going to see large...
GJ showing multiple signs of rejection @ 140.00
1hr timeframe chart shows 3 clear tests and rejections.
I can see an expanding wedge pattern forming and bullish momentum is dying off here with price making its way sideways now. A short here could see s good drop down to the previous intraday support @138.500 or lower.
A further price target could be the lower...
Look at purchasing shares in BIDS at this price level.
- Wedge continuation pattern.
- Strong buying momentum in to this consolidation.
- Using the equal measure of the previous bull move determines profit levels.
- Bidstack working with big names in games.
- Upside potential from in game dynamic advertising coming soon...
Gold has been on a crazy run recently assisted by the coronavirus pandemic and more recently, the USD weakness.
I can see some signs of momentum slowing here but shorting is risky long term with such uncertainty in global markets. That being said, today there is some nice rejection of the daily pivot level and price is breaking below the 1hr 50ema after crossing...
Double top formed @ 1.31500 last week.
Bullish trendline broken.
1hr lower lows now made.
Price is now below the 1hr 50ema and it looks like we might see the 50 cross below the 200 this week.
I am looking to short this pair down through the next price support zones. Some nice R:R to be made if it continues to sell off.
Important! There is the UK GDP data later...
GBPUSD price action is now very sideways and a clear channel has formed which is around 150pips in range.
Looking at price today, I can see it is now back at the 1.26500 resistance. There are 2 potential trades here, if price rejects this zone and forms another high then shorting should work well.
Alternatively, if this 1.26500 resistance is broken then a retest...