I may have missed the boat on this one, as today's strong bullish candle suggests the ideal entry signal may have been the doji that appeared at support yesterday. But I'll put an order on to see if we get a pullback. I'm set to go long at 8122, with my target profit at 8302 and my stop at 8081. I like the setup -- now let's see if it can end up getting filled, or...
I got stopped out of my long AUDUSD trade recently, unfortunately, but to me the pattern still seems valid. And so I'm going long AUDCAD. I think the recent hammer candlestick is a sign of bulls stepping in and defending 1.0153, and so I've set my order to go long at 0153 with my stop at 0094 and my target profit at 0335. www.informedtrades.com
This chart shows the year to date performance of gold vs gold stocks. We see that gold stocks of all kinds have outperformed gold itself. GDX is an ETF of larger, more established miners; GDXJ is an ETF is an ETF of junior miners. RGLD, SAND, and FNV are royalty stocks, which are basically firms that invest in other mines in exchange for a share of their output....
Long wick off the 50 SMA, in the context of a downtrend -- joined a 50% Fibonacci retracement level from the recent swing high to swing low and a horizontal support level going back to the turn of the year. The confluence of factors sets up a nice short trade opportunity.
A nice setup forming on AUDUSD that I'm in on. Price bounced off the 200 EMA, and is currently at the bottom of an upward trendline with horizontal support nearby. I'm long at 9267 with my stop at 9196 and a target profit at 9522.
Agriculture is outperforming everything: US debt, emerging markets equity and debt, US equities, FTSE, gold, oil, copper, bitcoin....pretty much everything. I'm not buying because I've got other opportunities I'm focused on, but I think this trend still has legs. www.informedtrades.com
This looks very much like a topping formation to me, especially with the market stalling yesterday before the previous highs (denoted by the "head" on the chart). I'd be interested in selling rallies, with at least a target of 1837, though preferably a much lower target; 1800 and the 200 EMA beneath it may also be viable targets.
I've been long GBPNZD since 9230, when it was there about a week and a half ago. Today I'm taking half my position off, as the market has reached a confluence of factors suggesting price may be stalling. The other half remains on, with my stop at breakeven and a target of 2.0240. Full trade history: www.informedtrades.com
A nice AB=CD pattern here, giving us a target of $109 by the end of May. This may be seen as supportive of recent fundamental data in the US pointing to greater lending and rising commodity prices. For traders, the recent lows around $97 should be maintained.
I'm not actually shorting gold here, as a I'm a long-term bull, but technically, we did see a failure at the 200 EMA. If support at 1280 doesn't hold, this could confirm a pattern of lower highs and pave the way for a re-test of major lows at 1180. Though given my bullishness I'm more interested in looking for signs of bottoming and corresponding buying...
Bitcoin has broken outside of its descending triangle, and has pulled back to a major resistance level. Personally, I'd look for candlesticks for insight into the next move, though a volatility play might be effective here as well, as the confluence of trendlines, horizontal support/resistance lines, and key moving averages trigger enough activity to move the...
I like these kind of setups very much: clear downtrend, confluence of support, key moving average level, at a Fibonacci retracement level, with confirming candlesticks. I'm not in this trade because I'm at max risk capacity already, but I'd be short at 8840, stop at 8872, target profit at 8697. This would setup a reward/risk ratio of over 4:1. www.informedtrades.com
A doji candlestick pattern at a confluence level marked by previously established resistance, the 50 SMA, and the 200 EMA. Short at 538, stop at 600, target profit 400 at least. I'm not in this trade as I'm not a BTC trader -- and I'll most likely be participating in it from the long side if I ever do -- but I am watching price action and journaling my thoughts to...
We have a confluence of factors: price at 50 SMA, which is also the 50% Fibonacci retracement from the swing low to swing high, which is also a previously established support level, all reinforced by what could be regarded as a bullish checkmate candlestick pattern. So, I'm long CADCHF at 7976, with a stop at 7902 and a target profit at 8300.
I'm a long-term bull on gold who anticipates gold's price rising to at least $5,000 -- an estimate I regard as very conservative -- and so I am happy to continue accumulating at well-established support levels. I believe the recent lows of $1180 reached at the end of 2013 constitute a major support level, the recent highs of around $1380 established in mid-March...
We're seeing some signs of weakness in equity indices around the world, and thus potential opportunities to short. Below is a chart of the Nikkei. A pattern of lower highs is in place, and the market closed at a critical support level. I would expect the market to rally a bit from here, and set up short opportunities at the upper trendline (in purple) or at the...
The black lines illustrate the range the S&P was in; price has now fallen emphatically out of that range, and is also below the 50 SMA --- both of which I think will pave the way for bears to pile in. A downside target of support at 1770 or at 1734, or at the 200 EMA between those levels, seems viable. A stop at 1850 gives sufficient protection against false...
Short JPY is probably my favorite long-term trade in the forex market. I agree with John Mauldin, Kyle Bass, and other prominent yen bears who think USDJPY is going to at least 150, and probably more like 350. I have some JPY positions on already, and think now is a good time to add a small bit more. Accordingly, I'm going long EURJPY at 140.47 with my stop at...