The price is consolidating in the area of the prior resistance.
106 acts as a support line. Thus, if yen continues to strengthen VS dollar we can enter the trade.
Basically, our initial stop is 126 - just above the consolidation area. However, we'll move the stop order closer during the trade. Probably, we'll be able to make one or two extra trades (in other...
After a possible false local resistance line breakout we can expect a pullback.
As we can see on the chart there already were a couple of pullbacks in this area before.
So, entry point is 0.7280.
Target 1 is 0.72095
Target 2 is ~0.7105
I would place stop at 0.73855
Basically, Euro is already in a strong downtrend V.S. US Dollar. QE, potential US rate rise (even though I don't believe that FED will rise the rate in the nearest time), problems in EU economy, technial picture of the chart - there are plenty of reasons why Euro will reach 1.0 against US dollar. You can play the trade both on FOREX or via ETF (for instance, FXE),...
I think that Switzerland is ready for a substantial bullish move. Basically, stock market of Switzerland is in it's uptrend. After a considerable correction we can expect a new upward wave. The local strong resistance has already been tested. I think that the move is going to begin pretty soon
Malaysia shows some positive signs in economy recovery.
Basically, YtoY GDP continues to grow. Unemployment rate is at low levels, which is one of the crucial economic indicators. Inflation is decreasing, even though money supply (M2) is increasing, which is also conseidered to be a positive sign.
Technically, after a long sell-off Malaysia has reached strong...
I think natural gas is going to make a good move in the nearest time.
As we can see gas was in the range for some time with the following support line breakthrough. However, the breakthrough was made on a low volume and it was a fake move. Just in couple of days was another breakthrough. Gas has made an opportunity to break the resistance line on a high...
Today I want to share with YNDX idea.
This is short to mid-term long trade.
Basically, we have the following signals promissing us a profitable trade:
1) The stock is oversold
2) The stock has reached major support level
3) A possible distribtion on extremely high volume also took place
4) A reversal hammer pattern on the last bar
5) Finally, fundamentally...
A bit risky trade with a potential nice reward.
The stock meets its resistance level showing us a bear absorption pattern.
FANG is also seems to be overbought.
Bearish mood is also supported with considerable volume.
A mid-term MEOH long trade.
IMHO a hammer patter meets 2 support lines: fibo ret and a 100 period EMA which is considered to be a strong support level earlier.
The sellers pressure is also doesnt look to be strong
Today I want to publish a pair trading idea.
The thing is that the spread between DDM and IWO reached the upper border. You can see the red line on the bottom chart. Basically, this value has not been broken since 2007. Even in 2008 and 2009 when the volatility was huge.
Saying so, we can assume that the spread is going to be zerro in the nearest future....