About meFocus on technical analysis across multiple time-frames.
Monitor correlations to analyze market sentiment.
Interested in financial history, economic cycles, seasonality.
Gold Is Money, Everything Else Is Credit" JP Morgan
Buyers stepped in at $1480 after sharp drop after Fed rate decision. Long lower wick tells us buyers aren't afraid to buy the dips.
You see a failed break lower from the wedge. Price has broken back above the wedge leaving us more of a sideways range. $1515 is resistance.
Currently in previous chop zone $1495 0.146 Fib level which has been a...
SPX500 posted a new high today. Touched channel resistance and backed off a bit, but no overwhelming selling.
Still, this channel has been forming since Jan 2018. Tested 3 times in the past and held as resistance.
Previous all time high made earlier this year 3025 was tested a couple times today. Quick spike down pierced support (possibly targeting stops),...
GBPJPY - Consolidation before continuation or is a correction in store?
I'm posting the 1 hour chart first. We can see price was initially rejected from 141.5 and then we see 140.6 being a key level that bulls couldn't hold as support after a short break above and also acted as resistance.
I will post the weekly chart in the comments. You will see that price...
EURCAD - I posted this chart a while back. Price has been testing long term channel support.
This is a huge channel forming all the way back in 2012.
We can see.....
1) Test of support rejected. Long lower wicks, close above.
2) Price breaks below support. Bulls are able to push price back above channel support, but can't hold it.
3) Price back below...
AUDCHF approaching resistance on the daily chart. Some key support resistance levels marked on the chart.
This pair has been in downtrend since September 2018.
The pair took a quick look below the previous all time low from back in 2015, which created a false break out.
The lower wick from 2015 flash crash looks to be holding as resistance.
1 hour chart...
Do we see some similarities here?
Third top = lower high.
Trend accelerating downward. Momentum has reversed.
I believe the top is in....
1) Some type of a bounce when the long term trend-line is tested. (Probable)
2) Bears show they mean business and the trend-line breaks, forcing bulls to step up and retake support. (Less likely, but not...
Lower low. Bulls look like they don't have much left in the tank.
If..... IF ---> SP500 rolls over, and Yen index support holds watch for sentiment shift to "Risk Off"
JPY Equal Weighted Index --> Support needs to hold. (Weak pairs will start to reverse first)
Gold / Silver have been much more sensitive to risk sentiment than...
Wait for the 1 hour candle to close.
If price is rejected, short entry.
GBP is overbought over the past couple weeks.
JPY looks to have stalled. Searching to find support.
GBP can drop just as quick as it rises.
Tight stop. See if resistance holds.
I'm not sure what tf most people prefer for chart analysis. Curious. Comment if you like.
DXY - I'll link an older related idea which will provide a better overall picture of this analysis.
1) Inverted hammer, price is rejected from test of long term channel - weekly chart.
2) Break above channel resistance. Price rejects from smaller Daily channel...
Gold caught my eye on a lower timeframe chart a few minutes ago. $5 move, gap up across two 1 min candles. Hit resistance at $1495, consolidating, looks like it wants to push higher.
Correlations... SP500 dropping. Seeing JPY index move up. NZD AUD index are dropping. All suggest risk off.
If gold breaks out, watch for silver to follow.
SP500 in my previous ideas, I pointed out a red trend line, which has been a battleground and an area bulls have been unable to establish as support.
Hypothetically, establishing support of the red trend-line would be the first and essential step in a move higher. Of course a move higher, would face near term resistance of channel resistance, the previous ATH...
EURSEK Testing channel resistance on daily chart.
SEK Futures show prices are approaching all time lows. As the chart shows SEK looks to be oversold and a bounce from the lows is highly probable.
USDSEK providing additional confirmation as technicals point to chances of near term reversal.
I started out showing the weekly chart. It shows a trendline (red line) which has respected candle close prices on the weekly chart.
1) You can see it acted as resistance from the price rebound after the initial selloff Jan 2018. Price then took a look above, but failed.
2) It held as resistance, price reversed lower.
3) Bulls were able to break above this...
AUDJPY - Zoom out and take a look at the big picture....
Massive head and shoulders pattern forming since 2010. Perfect symmetry with both shoulders at the exact same price. Blue curved line displays evidence of a sliding top (almost parabolic move) since 2018.
AUDJPY weakness is highly associated with risk-off sentiment. Market risks are looming behind every...
After price bounced off the 0.236 fib $1460, I pointed out that $1525 would be a key level bears will be looking to protect. We can see price was rejected after testing $1520 forming the long upper wick on the 4 hour candle. I'm going to remain cautious of a selloff from this level. Bullion banks love dumping paper during high liquidity events.
As always, long...
This chart shows a EUR index equally weighted across other major currencies.
I recently posted a couple ideas that suggest EUR was setting up short opportunities.
This chart shows a textbook short squeeze towards support (Lower highs, pushing price towards support) , which is also the 0.5 fib level from the 2017 rally.
While EUR has seen a significant decline...
Price has broken below the congested " chop zone" region. Very like we are heading back to test the long term support level, near $50. It's held multiple times so I set limit order to buy 50.75$, SL $49, TP $55 (the center point of the consolidation.