fxtrends

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About me Technical Analyst/trader
Joined usa fxtrends
Markets Allocation
46 % forex 15 % commodities 8 % stocks 31 % other
Top Mentioned Symbols
SPX 30% | 4 EURUSD 23% | 3 BABA 7% | 1 CLX 7% | 1
fxtrends fxtrends EURGBP, D, Short ,
EURGBP: EUR/GBP: 4th- Wave of triangle complete
74 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
28 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
68 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
505 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 ...

fxtrends fxtrends EURUSD, 240, Long ,
EURUSD: Set to correct, but don't expect much..
213 0 2
EURUSD, 240 Long
Set to correct, but don't expect much..

The EUR/USD is at a record oversold weekly RSI condition after breaking down to fresh cyclical lows on Wednesday. The 7-period weekly RSI is registering a sub-10 reading, which is very rare for the Euro or any major currency pair. This alone should limit further downside, but subsequent rallies are expected to be shallow due to the weak fundamentals and low market ...

fxtrends fxtrends AUDJPY, 240, Short ,
AUDJPY: collapsing towards key 50% retracement
28 0 0
AUDJPY, 240 Short
collapsing towards key 50% retracement

Aussie looking vulnerable with commodities, equities and yields all dropping..

fxtrends fxtrends SPX500, W, Short ,
SPX500: Don't tell me I didn't warn you!
107 4 0
SPX500, W Short
Don't tell me I didn't warn you!

Typically, elongated rising wedges ( like the one seen in the SPX500 right now), tend to resolve to the downside. Also, over the past few weeks, bulls have failed to reach the top end of this wedge. And, in the past 48 hours, the SPX500 is threatening to leave two major false - break patterns and a dragonfly doji pattern. These are characteristics of a either a ...

fxtrends fxtrends AUDCAD, D, Long ,
AUDCAD: Dragon-fly doji hints of basing
36 0 0
AUDCAD, D Long
Dragon-fly doji hints of basing

Monday's dragon-fly doji at severely oversold levels suggests a basing phase could be underway. A confluence of two major Fib's also hint of possible accumulation. A clean break of .9740, however, would embolden bearish momentum, triggering an extension below .9700.

fxtrends fxtrends TYZ2014, D, Long ,
TYZ2014: Ten-year Futures (z14)
6 0 0
TYZ2014, D Long
Ten-year Futures (z14)

10's

fxtrends fxtrends CLX2014, D, Long ,
CLX2014: Crude now starting the final corrective thrust (C-wave)
20 0 2
CLX2014, D Long
Crude now starting the final corrective thrust (C-wave)

Typically once 5-wave moves complete they tend to correct back into the previous 4th-wave. Look for the C-wave to finish in the 95.46 zone. Alternatively, a failure to clear the 94.12 (wave a) high would refocus the key 90 region.

fxtrends fxtrends SPX500, 240, Short ,
SPX500: SPX500
26 0 0
SPX500, 240 Short
SPX500

2 pending bearish false-breaks (yellow arrows) look to be confirmed

fxtrends fxtrends SPX500, 240, Short ,
SPX500: SPX500 Poised for 1973 retest
19 0 0
SPX500, 240 Short
SPX500 Poised for 1973 retest

A daily (bearish) false-break reversal still looks poised to test the pattern target in the 1973 region.

fxtrends fxtrends SPX500, D, Short ,
SPX500: S&P now set for correction
62 0 0
SPX500, D Short
S&P now set for correction

S&P 500 is now set to pullback. The 2 red arrows highlight rather large false breakouts (of previous swing highs), which are complimented by RSI divergence. Also, Friday's spinning top pattern is being confirmed with today's follow-through selling.

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