Looks like the market will prepare the rate hike next week... My entry points for a long position: now or 1.1230. SL: 1.12 TP1: 1.1291, TP2: 1.1300, TP3: 1.1320 My entry points for a short position: will place a sell limit order at 1.1300 SL: 1.137 TP1: 1.1200; TP2: 1.1160, TP3: 1.1110 Once there, will review the market once again.
Possible Butterfly pattern spotted on USDJPY pair. Any of next daily candles should close above 103.51ish, if a daily candle closes above this, the pattern is invalidated. Entries for short: Entry points: 103.91 and 104.45 SL: 105 TP1: 100, TP2: 95.50 Entries for long: Entry point: 95.50 SL: 94 TP1: 100 TP2: 102.96
This flat correction you are having here is pretty nice, US Dollar, but I would like to see more of you. Please do! Yes, you can! www.youtube.com
Possibly, there is an ABCD pattern forming on GBPUSD pair. In that case, GBPUSD is good to short on Monday opening or after a retrace, targeting 1.2695. SL: above 1.33 Notice also bearish divergence on the chart. If the pattern is confirmed and the move completes as expected, I believe that will be an intermediate bottom for GBPUSD and expect a bounce to...
Looks like there will be one more leg up for oil. It tried to break a key resistance this morning and failed for now. I will open a long position at 47, targeting 48.60, with SL below at 46.50. I also expect a rebound in EURUSD and then will join shorts again
I believe by Monday we will finish the Wave 4 of the summer bearish run, hitting 46 ish. Then, if my Wave count is correct, we still have one more leg down, targeting 37-35 area. After that, Oil will forward the presidential rally in the stock markets and also the DXY bearish movement as the FED probably will not touch the interest rates before the new US...
After a huge bearish trend which took days to develop, looks like yesterday we entered into a short-term bullish momentum. If confirmed, it should be completed between today and next Tuesday. Will open a long position at 40.31 which is a 50% Fibo retrace from yesterday´s movement. TP: 44.50, SL: 39.50. This movement was a part of my longer term EW setup....
All traders and investors who are interested in the US market are surely aware of the whirlpool in which Apple got since the beginning of the year. Very few good news and lots of bad news for the company. The most recent ones were a downgrade of a target price by GolmanSachs and Elon Musk predicting Apple has already missed the train of the car business. Here,...
Yesterday we´ve probably seen one of the best daily performance from AMD shares in company history. Why is that? Licensing agreement with the chinese. The chinese will be able to develop their own server SoC with a cooperation and based on AMD technologies. Means, they will develop their very own version ot the latest "Opteron" generation and pay to AMD for...
Will Microsoft beat the historical top directly or will take an extra correction move first?... We will know very soon!
UKOIL chart looks like a triangle inside a correction. Very whipsaw correction on oil anyway.... I´m expecting oil to test the lows of the day but bounce up on the US session. If the triangle is confirmed, it shouldn´t break up but head down again and break the entire correction limits by tomorrow. Probably, EIA report will be a trigger same as on previous weeks.
Looks like DXY still has one more leg down. This can explain a rally in commodities. If the wave count is correct, we may reach 88 figures quite soon which would give us approximately 1.24 figure in EURUSD pair. After a nice rally on Friday we are spending some days in a sideways movement. Therefore, now it is a good period for a long entry on EURUSD pair or...
NAtural Gas is coming back from the historical minimums but looks like growing potential is limited. NGAS has already climbed almost 70% since March! A fibo level 261.80% of W5 may become a top here. Will try a short from this level (2.838), targeting 2.160 figures. SL: 3 figures
To be honest, it all started when I was completely unable to describe the EURUSD pair behaviour using Elliott Wave technics: it is surely possible but still escapes my knowledge. I noticed price increases and descreases were highly propotional and patterns were quite similar. I therefore tried to compare the price range and data range of the first pattern to the...
DB has already lost 40% of stock capitalization since the beginning of the year, it is at the lowest levels since 2000s and already lower than 2009. Save your money if you are a DB client! The party is about to start
After a Brexit referendum outcome the Commerzbank analytics told us to "forget about oil at 50". Don´t think this is correct although they are right in one thing: oil should retrace more. A level of 43.50 looke pretty strong to be a target for the retracement but the price can also test 41.49 level. Any weekly close below that would mean a new travel to the 30s....
If Brexit happens, is Parity possible?... If Bremain, 1.50 possible tomorrow and 1.60 next week. If Brexit, first targets are around 1.34. Beware of the spreads and possible Central Banks interventions! Good luck!
Finally, tomorrow is the Referendum day. Brexit possibility is still in play but everybody expecting the vote to be "Stay in the EU". Which is the problem then? Tomorrow everybody expects huge volatility on all sorts of markets: Equities, Forex, ETFs and else. I believe, every single poll, exit poll, news, rumour... will be used to push the markets down and...