fxtrends

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About me Independent Trader & Author of Talking Technical Blog
Joined usa fxtrends
Markets Allocation
26 % forex 26 % commodities 11 % cryptocurrency 37 % other
Top Mentioned Symbols
DXY 14% | 4 SPX 14% | 4 EURUSD 11% | 3 GC1! 11% | 3
fxtrends fxtrends DJI, 240, Short ,
DJI: Dow Jones Industrial Average Forms Potential Topping Pattern
58 0 5
DJI, 240 Short
Dow Jones Industrial Average Forms Potential Topping Pattern

There are several components in pre-qualifiying a Head & Shoulders pattern and right now the Dow Jones Industrial Average checks off all the boxes. First, the pattern itself cannot be larger than the previous move...check! Second, the pattern should have relatively proportionate shoulders and a relatively flat neckline....check! Now that this bearish pattern has ...

fxtrends fxtrends DXY, D, Long ,
DXY: US Dollar Breaks-Out As Speculators Reduce Short Bets
26 0 1
DXY, D Long
US Dollar Breaks-Out As Speculators Reduce Short Bets

The US dollar surged to 3-month highs amid a (bullish) breakout of an inverse Head & Shoulders pattern. The latest Commitment of Traders (COT) report highlighted a substantial draw-down in positioning against the greenback. Meanwhile, the sell-off in treasuries helped expand interest rate differentials (in favor of the US), but initially spooked equity markets ...

fxtrends fxtrends DXY, D, Long ,
DXY: Dollar Index Tests Neckline Of Inverse Head & Shoulders Pattern
54 0 1
DXY, D Long
Dollar Index Tests Neckline Of Inverse Head & Shoulders Pattern

The US Dollar Index (DXY) has been able to trace-out a big inverted H&S pattern, but just hours ago, failed at the pattern's neckline. While this could set-up a more precise breakout, it could also set the stage for a dip back towards the right shoulder's potential base in the 92.5/75 region. The same pattern (H&S) is also visible on daily charts for the EUR/USD, ...

fxtrends fxtrends BTCUSD, 240, Short ,
BTCUSD: Bitcoin Completes A 5 Of A 5 Wave Count
204 0 5
BTCUSD, 240 Short
Bitcoin Completes A 5 Of A 5 Wave Count

Bitcoin is now in the process of pulling back within the 1st leg of a perceived A-B-C correction since completing a 5 of a 5 wave count. This narrowly missed a measured move target in the 6200 region, but is in the vicinity of a terminal wave count. Typically, after completing an impulsive move, it is not uncommon for the initial correction to target the base of ...

fxtrends fxtrends BTCUSD, 240, Long ,
BTCUSD: Bitcoin Extends To Fresh Record Highs
208 0 2
BTCUSD, 240 Long
Bitcoin Extends To Fresh Record Highs

Now that the high earlier in the week has been taken-out, after completing a 3-wave (ABC) correction, it appears Bitcoin is now forming the final (5th-wave) portion of a larger 5-wave structure. The 1st wave equality projection target is a few hundred points higher from current levels, in which price-action has seemingly respected the psychological 6000 mark as ...

fxtrends fxtrends BTCUSD, W,
BTCUSD: Bitcoin completes 5-wave advance
126 0 5
BTCUSD, W
Bitcoin completes 5-wave advance

A clear 5 waves can be traced-out since the beginning of 2015. The 1st wave was roughly 2830 points and lasted a year and a half. The current 5th wave has seemingly completed at 2825 points, which is nearly the same size as wave 1. Its typical in Elliott wave theory that the 1st & 5th wave are either roughly the same size and/or duration, and the 3rd is the ...

fxtrends fxtrends USDCAD, D, Long ,
USDCAD: usdcad at key trendline
55 0 5
USDCAD, D Long
usdcad at key trendline

if you notice last week there was a reaction to a trendline projected from a series of lower highs months ago, which marked the 3rd point and confirmed relevance. USD/CAD has started the week quickly rebounding after last week's shallow pullback,putting the trendline in focus. A clean break would expose key retracement levels

fxtrends fxtrends DXY, D, Long ,
DXY: DXY forms neckline of big inverted H&S pattern
53 0 5
DXY, D Long
DXY forms neckline of big inverted H&S pattern

The US dollar index has pulled back, forming the neckline of an inverted head & shoulders base. So far 38.2% has been retraced, but notice that the projected right shoulder coincides with the 50% retracement. Look to BUY @ 92.625 for 1/2 Target @ 94 & 1/2 Target @ 96, Stop-loss @ 92.075

fxtrends fxtrends DXY, D, Long ,
DXY: DXY forms a small inverted H&S within a larger one
41 0 4
DXY, D Long
DXY forms a small inverted H&S within a larger one

The Dollar Index is attempting to complete a measured move since confirming a small inverted head & shoulders pattern. The objective is not too far away but coincidentally intersects with a potential neckline of a developing (larger) inverted H&S pattern. Check out my blog for updates and more timely analysis.

fxtrends fxtrends CL1!, D, Long ,
CL1!: Breakout!! Buy oil on trendline breakout
86 0 0
CL1!, D Long
Breakout!! Buy oil on trendline breakout

Crude oil futures are probing through key trendline resistance and is poised to close above the above the psychological 50 threshold.Sustained strength targets 52 then 55, while back under 49 signals a bearish reversal.

fxtrends fxtrends CL1!, D,
CL1!: Crude Oil At Key Juncture
62 0 0
CL1!, D
Crude Oil At Key Juncture

Either way you draw it, Oil futures have reached crucial trendline resistance. Connecting either a series of peaks from February or May, price-action has clawed its way to 49.30. Even on an intra-day chart there's evidence of a near-term reaction with these downward-sloping trendlines, which typically confirms relevancy. If broken, it would clear the way towards ...

fxtrends fxtrends GC1!, M, Long ,
GC1!: Gold Next Seeks Test Of Critical Resistance
98 0 1
GC1!, M Long
Gold Next Seeks Test Of Critical Resistance

Gold futures have enjoyed follow-through strength after holiday weekend, continuing August's key breakout From a long-term perspective, Gold is trading within the upper portion of a year-long range that looks like it could extend towards 1500. If the July 2016 peak (1375) manages to cap, however, it could raise longer-term red flags for the latest 20-month ...

fxtrends fxtrends GC1!, 240, Long ,
GC1!: Small double bottom base emerges ahead of key Fib
38 0 1
GC1!, 240 Long
Small double bottom base emerges ahead of key Fib

After suffering the worst day in 6-weeks Gold futures have stabilized ahead of key Fibonacci retracement (61.8% of latest minor range). Also, a small double bottom seems to be forming on intra-day technical charts. More importantly, from a bigger perspective, Gold futures have seemingly held up the month of August after breaking long-term (monthly chart) trendline ...

fxtrends fxtrends GC1!, M, Long ,
GC1!: BUY GOLD!!!  You'll thank me later!!
127 4 1
GC1!, M Long
BUY GOLD!!! You'll thank me later!!

We are halfway through the month of August and Gold futures look to be maintaining a key monthly trendline breakout. At the current low of the month, price-action tested the (now broken) trendline, leaving behind what technicians call a potential throw-back. Moreover, Gold prices have been strongly correlated with the Japanese yen, which also looks technically ...

fxtrends fxtrends EURGBP, D, Short ,
EURGBP: EUR/GBP: 4th- Wave of triangle complete
76 0 0
EURGBP, D Short
EUR/GBP: 4th- Wave of triangle complete

The 4th-wave of a large triangle has either been completed or nears completion. Daily RSI seems to be comfortably in range, indicating room to go before breaking-out. The 5th-wave in triangle patterns often fail to the reach the opposite side of the triangle. The 50% retracement at .7919 should provide an initial cap, while the 61.8% retracement could be where the ...

fxtrends fxtrends BABA, D, Long ,
BABA: BABA bioyed by 50/50
31 0 0
BABA, D Long
BABA bioyed by 50/50

Alibaba found support today at the 50-day MA and a key 50% retracement. The solid reaction exhibited in the mid-101 region highlights RSI divergence and a bullish engulfment or outside up-day. The move from the bottom of the range (82.87) to the top (120.00) was roughly 20 trading days. The current pullback has taken half the time and stalled exactly at the ...

fxtrends fxtrends EURUSD, D, Long ,
EURUSD: EUR/USD: Long-term trendline supports for bull wewdge breakout
71 0 1
EURUSD, D Long
EUR/USD: Long-term trendline supports for bull wewdge breakout

A trendline dating back to mid-2010 has given the EUR/USD traction. Yesterday I observed (http://fxtrends2015.blogspot.com/ ) that retail trading activity had hinted of a near-term base. This has been complimented by Monday's price-action, which highlights a falling wedge. Typically, these type of formations are bullish and with "big speculators" short positions ...

fxtrends fxtrends EURUSD, D, Long ,
EURUSD: Bull hammer signals pause in downtrend
508 3 3
EURUSD, D Long
Bull hammer signals pause in downtrend

It appears that the Euro decline has come to an end....at least for a few days! With weekly chart RSI at record oversold levels, the appearance of a daily bull hammer should signal a basing phase or the setup of an accumulation pattern. Moreover, daily RSI has come off a base and is now showing positive divergence. This is occurring while the top end of price ...

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