dericksim

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Joined singapore
Markets Allocation
50 % forex 50 % other
Top Mentioned Symbols
GBPUSD 35% | 10 USOIL 28% | 8 EURUSD 14% | 4 SPX 7% | 2
dericksim dericksim USOIL, W,
USOIL: USOIL
44 2 2
USOIL, W
USOIL

From the weekly chart, MACD is about to make a gold cross above zero very soon. A proper cross on weekly chart should yield at least $20 (from recent low of ~40 we should see ~60). I expect it to hit RSI70, consolidate (sideways: market will not let you buy cheap again) before heading to RSI80 level. This should bring us to the $70-80 region; which is another $20 ...

dericksim dericksim EURUSD, M,
EURUSD: EURUSD
30 0 3
EURUSD, M
EURUSD

Options expiring 9/19 so there will be some interesting development coming soon. From the monthly chart, it has been stuck in the channel for the longest time. Upper band is 1.1346 and lower band is 1.0827 and equilibrium is 1.1087. 1.15-1.16 is the area to watch where the bulls and bears fight it out. Anything below this level the bears have the upper hand. The ...

dericksim dericksim EURUSD, 240,
EURUSD: EURUSD
24 0 3
EURUSD, 240
EURUSD

For those waiting to short the Euro, don't even bother with the daily chart. 4H chart running out of space for another leg down. For the past 3 candles, since MACD produced a dead cross has there been any effect to the price? Just wait for a couple more candles for the indicators to adjust and the uptrend should resume. Whether the trend can hold, just look at RSI ...

dericksim dericksim GBPUSD, D,
GBPUSD: GBPUSD
22 0 5
GBPUSD, D
GBPUSD

what and where the market is fighting over. easy to see at a glance. gap covering? Wait till the gates are crashed through. Be very careful when MACD goes above zero; that is when the party is about to end. As of now it has yet to start. https://www.tradingview.com/x/M8oHfCgT/

dericksim dericksim XAUUSD, M,
XAUUSD: XAUUSD
61 0 3
XAUUSD, M
XAUUSD

This wave on the monthly chart is pretty much done. There could be a spur to $1400 but the magnitude of this move has been achieved on the monthly chart. There will be another wave of consolidation for the indicators to rest and return to normal. Impossible to run a marathon 2.47% with Usain Bolt's speed. With the consolidation one will need to manage ...

dericksim dericksim SHCOMP, M,
SHCOMP: Shanghai Dolly
17 0 2
SHCOMP, M
Shanghai Dolly

On weekly basis, we are already 21 bars into weekly MACD cross, another 5 more to go. We shall see how the market behaves. weekly and daily RSI 50 is at almost the same level of 3013. If Market is kind enough to give a retrace this could be a good reference point of entry. Can consider taking ALL or 80% profits once index hits 3400. On the HK front, the ShenZhen ...

dericksim dericksim USOIL, D,
USOIL: USOIL
43 3 5
USOIL, D
USOIL

sideway movement for now. WTI albeit the strong rebound, it is difficult for it to move above 51 for now. conditions are not so favorable on weekly chart. trade with care as it is easiest to loose focus during sideways market and loose back hard earned profits during this time. Whilst I may be wrong; I think it would be prudent to follow the 4H charts and 1H ...

dericksim dericksim EURUSD, W,
EURUSD: EURUSD market to decide soon.
32 0 3
EURUSD, W
EURUSD market to decide soon.

In the event of a successful breakout, I would target RSI70. Whether this target can be reached, I will monitor it from 4H chart. MACD is almost in place, with a successful cross, my expectation is for 3-5 candles of rally before everything fizzles out again. https://www.tradingview.com/x/LVxzDEA1/

dericksim dericksim EURUSD, W,
EURUSD: EURUSD movement
27 0 3
EURUSD, W
EURUSD movement

Based on weekly chart, it is about time for the market to choose a direction. MACD has 1 leg in Heaven and the other in Hell. With the shorter Leg in Hell, it would require less momentum to pull it back. Who will win, we shall see. https://www.tradingview.com/x/9VnzOSkk/

dericksim dericksim USOIL, 15,
USOIL: USOIL
46 2 3
USOIL, 15
USOIL

daily chart almost hit RSI30. Currently stands at 30.6 so we should not be too far off. However, we should be mindful that it could plunge through 30 intraday and close back. It is quite meaningless to look at anything beyond 15min chart now as no indicator is good from hourly onward. Any possibility of rebound is resting on the smaller time frame to hold onto ...

dericksim dericksim USOIL, M,
USOIL: USoil
48 0 2
USOIL, M
USoil

Why is oil so BEARISH? The trend is so strong because it is beyond the monthly charts. The reverse applies to SPX. I do think that we have printed a low at 26, there could still be a chance for this current adjustment to break 35 briefly to scare everyone and everything off the table. So hang on to your boots and enjoy the ride.

dericksim dericksim GBPUSD, 240,
GBPUSD: GBP/USD
22 1 2
GBPUSD, 240
GBP/USD

The Bulls has only won half the battle. MACD is neither an angel nor the devil. Same thing as usual, adjust your aperture and monitor the movement from there. If this cross is successful it should be worth 300-400pips on a 4h chart. You can set your profit target there. Once it hits, it will begin to go sideways as per what we are seeing on the hourly chart which ...

dericksim dericksim GBPUSD, D,
GBPUSD: GBPUSD Timing the run
37 1 2
GBPUSD, D
GBPUSD Timing the run

It has been 10bars since the MACD cross happened. Another 16 more days to go. Enjoy while it lasts. As usual, the challenge will be to break RSI 50 level. We can forget about the gap if this cannot pass through. https://www.tradingview.com/x/A4lSg8Od/

dericksim dericksim GBPUSD, 240,
GBPUSD: GBPUSD
29 1 2
GBPUSD, 240
GBPUSD

Seems that the past few days GBP always gets sold down during Asian hours whilst the British are sleeping. With the market weighing extremely on one side, a reversal could trigger an avalanche. Covering the GAP to me is a given and bears who short there will get slaughtered. 1.4 is a key level to watch, which happens to be weekly RSI 50 level. this is only a ...

dericksim dericksim HKG33, W,
HKG33: HangSeng Index
82 0 2
HKG33, W
HangSeng Index

1st weekly target already hit, not very safe to enter now. Now is the time to wait patiently for RSI to retrace to 50 level before deciding on the next step. It is 21bars since the last MACD cross, if the retrace is deep, it might go down to meet the MACD (green circle); which I doubt so. Any thing beyond 23k is already pushing the envelope. For this chart, the ...

dericksim dericksim USOIL, 60,
USOIL: USOIL
46 0 3
USOIL, 60
USOIL

1h chart has already produced 3 MACD dead cross, 1 wave usually have 3 to 5. Current support is highlighted by the red dash line. 1st target will be RSI(14) 50 level. As this is a downtrend, even if it manages to break above RSI 50, my target to take profit will be RSI 70. RSI does not have much room left for maneuver and there is a high chance the MACD gold cross ...

dericksim dericksim USOIL, D,
USOIL: USOIL
43 0 4
USOIL, D
USOIL

WTI is 34 bars since the last MACD cross and it is the last line of defense using MIDAS. It is about time for a rebound, rebound target would be RSI(14) 50 level which is about 46. At this level, it should produce a MACD gold cross as well. We have to be wary of this cross as a dead cross below is deadly and should bring us to the final target of RSI 30 level. I ...

dericksim dericksim JPN225, M,
JPN225: JPN225 Nikkei
63 0 5
JPN225, M
JPN225 Nikkei

Based on what I am taught, every time RSI hits 80 and above there should be a new high after retrace. There are 3 possible peaks in this picture, the lowest has already been breached. leaving the other 2. Same case as usual if there is a MACD gold cross in the future for this chart, I will be very careful. This is a monthly chart for study purpose; not ...

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