chartwatchers

I know many of you are watching UJ when trading gold... There's a very important pattern developing on the UJ UJ chart. After a 7 months consolidation ( downtrend in a down channel) we had a character change. Price didn't turn down immediately in a V shaped form as did before. It sticked to the trendline an started to crawl along it. I think the Bank Of Japan ...

I want to post it before market close so this is going to be short. If today the bottom is in by the end of next week today's UGAZ position can be in 50% profit. We are printing all time record volume. In the past all time record volumes often were the sign of the bottom and a big rally. The facts: 2016.05.31 - Price rallied from 20 to 51$. 2016.11.08 - Price ...

I think most of you who were trading Natty in the last few months had mentioned the title at least once or twice. It's toying with us. So there are 2 options : 1. Get out and find some other vehicle. 2. Try to trade it somehow because the consolidation will be over sooner or later. Those who follow me for a while know which pill I have chosen. At the last NatGas ...

Most of the retail traders are just short term traders: watching only the 5 minutes and 30 minutes chart. What is happening in EurUsd is a typical example why traders should never forget about the Big Picture. Trading based only on the 5 minutes and 1 Hour chart without watching the daily and the weekly chart is a guarantee of a blown up account. The 30 min chart ...

After the week of the bull I can see only a weak bull. It seems we topped in our 3rd daily cycle on day 6. I would've liked to see yesterday's close below Friday's low (1293,5) for a bearish engulfing close but all we got a daily swing high. Price bounced as I posted in the hourly chart update but in the night we gave back all of the gains : Asia was ...

Gold took a big hit today. I just want to wait for the daily close before updating on the daily chart. I didn't like how we broke out of the flag last week. It was not the typical breakout when price is running higher 20$ the next day. It was just a weak breakout: a back test of the flag, a few more hours of a range and we needed to wait for a bounce until ...

We are nearing to the weekend. This week really turned out to be the week of the bull. We are near to 40$ profit this morning. Resistance levels are approaching. 1. First the target price counted from the right translated double bottom pattern at 1304$. ( The right translated pattern will be important later what I'm doing and why. 2. Later the 200 SMA on the 4hrs ...

Our bottom is confirmed by today's swing. After a shallow pullback on Sunday night price bounced higher. Most of the day was spent by printing a flag/ range on the hourly chart and we closed near to the daily top. What happened exactly? After the first 2 daily cycles we printed a DCL last Friday and bounced from the 100 MA almost tagging the triangle trendline ...

We printed the DCL today. Before posting a detailed gold update I just want to go through how fantastically worked the Fibonacci on this way down. 1. First we broken down the lower trendline of the uptrend channel (1321$). This level was the FIBO 23,6% retracement also. Notice how we spent 3 days to break down this FIBO level on the 13-14-15th Sept. 2. The next ...

This call is mostly based on the EurUsd call. We printed a bearish pinbar today. I think the dollar will weaken in the next few days so UJ needs to drop. MACD is crossing over ahead of the TSI . We might just test back the 200 EMA or maybe testing back the 108-109 zone. 111 and 108-109 levels will be important for the gold rally also. We've broken above the ...

I will start the updates with the currencies today. In the gold idea I will refer to many things I mention here. I was watching closely the EurUsd and the USDJPY today around the NFP news. The EurUsd was not able to break the pattern's neckline at or after the news and it bounced. I still think the intermediate decline is not finished yet. The right translated ...

I'm quite sure we printed the DCL today at 1278$. If this intermediate bull is still intact then I would give a chance to trade it based on EW... It's a risky trade we might stop out immediately in the night or tomorrow, but if it works we might a have a few days to run and test back the previous high. If we stop out I will publish immediately a short trade idea ...

The weekly chart also suggesting we are heading down into the DCL. In most of the cases the DCL is printed at or below the 10 EMA (Weekly chart!)and we always have minimum 2 red candles. Especially after the Bollinger band crash on the weekly chart... I highlighted the previous DCLs by red arrows on the chart. The DCL decline lasts for minimum 2 weeks. So the ...

Crazy dictator or Mastermind ? Foolish blackmailer or defender of his nation? I leave this question open : time will tell. We don't know it right now, but we have to trade it. I always wonder why people are betting on a nuclear holocaust. I do not think all those who bought gold at 1350-60 in the hope of 1.400 and 1.500 in a week have asked themselves: is there ...

I set this idea as neutral because I don't suggest to do anything right now. If you are short you don't have to do anything because I think it's going lower. If you are at the sidelines you don't have to do anything because it's too late to go short now, and too early to go long ... If you are long I suggest to ask one of the contrarians below my previous post is ...

I would like to start this idea with an idea I posted nearly a year ago: https://www.tradingview.com/chart/DXY/BiQ2drSN-DXY-Possible-megaphone-topping-pattern/ Most of us here are short term traders. Some are thinking in hours , some in days and a few in weeks. The funds and banks are playing in months and years. "It is no trick at all to be right on the market. ...

I will update gold on the daily basis later today. Haven't decided to post a public or private idea. On the hourly chart the pullback seems to be done. The dip buyers have arrived in the morning . Right now we are tagging the 200 SMA and the head & shoulders pattern's neckline. The RSI is near to extremely overbought , MACD seems to want to stay in the negative ...

EurUsd is due for its intermediate decline in the following days/weeks. It will become obvious for everyone once the red trendline is broken. I'm waiting for the tag of 1.1428 ( FIBO 38,2%) and maybe 1.1221 (FIBO 50%). If EurUsd is starting a new multi year bull market we will need to tag the 100 and 200 EMA on the way up again and again.