After a huge movement where GBP lost almost 6% of it´s value in only 2-3 minutes, I had to review and adjust my targets. I believe the parity with the US Dollar is just a question of time. Unfortunately, I cannot say on when would that happen but we have a key date of March 2017. By then, we can already trade below parity, specially, if the US Dollar will...
I believe last bullish impulse on USOIL is about to start next week. My target would be around previous highs from 2015: as minumin it has to close the gap near 56.58 Will start adding longs at 41 with a SL at 39
Chek out a mega-BAT pattern which have been developing for almost 15 years! It completed by December last year but there is still a piece of a downtrend which can be taken. Will short from 8.21 or by market SL: 8.42 TP: 7.44 Long based on an overextended Gartley: Entry point: 7.45 SL: 7.25 TP1: 8.02 TP2: 8.40 TP3: 10.00 (not based on these patterns)
Price is being constantly rejected from the fork line. Obviously, market sees that line but MACD is not divergent yet and the downtrend line hasn´t been reached either. Last two fact open possibility for short-time longs, specially when we know that oil is adding green candles since days ago. Bud I´d be careful with long time longs as bears probably haven´t...
After previous targets have been achieved, looks like it is time for US Dollar to cease some positions to other currencies. Eventual Gartley and ABCD patterns will shows the first targets but, in the end, I expect a move towards 91 ish area to complete a corrective triangle. Closing a week above 96.75 would invalidate the patterns Looks like we still have some...
XAUUSD, also known as Gold, may not have bottomed yet but it is very close to some excellent levels for addning long positions! I´ve already bought a small piece at 1270 and will keep adding longs as soon as Golld will get closer to 1250 (if it will of course). As per this chart, if the fork bottoms are broken, Daily 200 MA will be next important barrier and...
As noticed before, USOIL, SPX500 and now EURUSD, they all have a very similar pattern: a corrective triangle which is previous to an important bullish move. If my count is correct, EURUSD should re-visit September lows before starting a move to 1.15 and, afterwards, to 1.21. Notice also an eventual ABCD pattern, targeting the lower line of a triangle. Shorts are...
On my recent posts I aimed to having spot similar correction structures on different instruments. I believe GBPUSD have the same structure, a corrective triangle, but this time, after the correction finishes, trend will continue lower. By first week of October, I believe we may start a last correction wave in the triangle which should close the gap formed on...
As per my previous idea and despite an impressive bull run we are having on oil, I´d still miss a leg E of my large-scale triangle. Nevertheless, we should never ignore the signs market sends us. A wise trader said: trade what you see, not what you think. And I can only see 5 green daily candles in a row. Last time it happened, we went from 41 to 49 in a term of...
All gaps tend to close. Another reason for those who stay long on this pair, to keep their longs despite recent performance. Next strong level for the pair is 1.11600 from where buys can be considered
Netflix chart shows a precious 1-2-3-4-5 Elliot Wave development , directly towards the measured top of 133 USD per share. The correction started by December 2015 and, after today´s Q2 report, it has directly entered into Wave C. It should bring us to the long-term value of 60 USD per share. Unfortunately, I´m unaware about the schedule of when this can happen...
Possible Butterfly pattern spotted at UKOIL also known as Brent. Same pattern is spotted on WTI Light Crude but I prefer trading Brent in this occasion. Currently, shorts are good to join on any correction to the top. SL: 51.60, TP1: 48.40, TP2: 47.10 Longs: entry point: 47.10, SL: 45.60. TP: 52.85 Shorts again: 52.85, SL: 54 . TP1: 49.90, TP2: 48.07
I believe EURUSD will complete the bullish run tomorrow, hitting an important resistance at 1.1295 area. If the cypher pattern is completed, I would expect a retrace as shown on the chart and then one more leg up. Will short from 1.1293, targeting 1.1155 . SL set to 1.1334
Possible bullish bitterfly is spotted on SPX500 but 4H candle close above 2160 level will invalidate the idea. If confirmed, this pattern can test the bottom of the fork which is built from September´s high through this month´s peak levels. Short entries are welcome from current values. I will add shorts on market opening as I´m already in a short position as...
I still expect a pish up on DXY and, as a consequence, a move down on Gold and Silver. Spotted a possible Gartley pattern which correlates with a bounce down from the Hagopian Line of my bearish fork. Will take a short position on a Hagopian re-test or when price breaks back into a bearish fork. SL: 20.50 TP1: 18.70 TP2: 17.90
Australian Dollar may be finishing the push down and start a new ascending impulse. This would coincide with the expected weakness of the US Dollar. I will looks for longs at 0.74-0.7985 levels, targeting 0.80 by the end of October. Stop Loss order will be placed at 0.7290 as it will invalidate the Butterfly pattern I´m chasing.
We are heading to a possible correction on SPX500 which would mean more sideways action in the nearest term. Will looks for longs at 2176 level. SL: 2185, TP: 2138
This hypotetical move down correlates very well with my expected US Dollar strengh during September. All commodities may renew local minimums. Target for this movement should be around 17 Dollars per ounce