USDWTI has had a great run up over the past few weeks. It was blasted through each resistance level and continues to march higher. In markets like these we do not want to play chicken with a freight train, which means we do not want to go short at all. Right now we want to look for any opportunity to get long. Price has slowed within the last few days and is...
In this video I cover a few of the price action patterns that formed last week which became quality trade setups themselves. I also take a look at the most current price action and what it is telling me about where the market may be heading this coming week. I only cover a handful of the patterns as there are many other patterns at play such as rising triangles...
As predicted in my analysis last week, Ethereum has begun blasting off. Prudent traders were watching the bullish flag pattern that had form and watching for a breakout of the upper channel of the flag. Due to the very large size of this pattern we could see quite a large rally in the days, weeks and even months ahead. If this is a pattern you are trading or...
In this video I provide a follow up analysis to the daily bearish pin bar setup that formed yesterday and look at some bullish patterns forming on the hourly. Because we are still in a bearish trend on the daily, but have bullish signals on the hourly, this is the time to remain neutral until the markets give clear direction Overnight the bearish pin bar setup...
There is a fantastic, high quality flag pattern that has formed in Ethereum. I just posted a video about the morning star and pinbar bullish setups in the daily candles and now we can see a strong bullish flag pattern in the hourly chart. This is creating a confluence of signals that all are pointing to a bullish breakout. If the breakout occurs it could set up...
In this video I discuss the 4 bearish signals in Bitcoin right now and why I think it is highly likely price will continue to tumble from here Bitcoin is in the process of forming a text book bearish pin bar. BTCUSD has been in a strong downtrend over the past week or two and has staged a minor pullback. This was a moment of truth for the bulls to see if the...
In this video I show some good past setups on the EURUSD that would have been profitable as well as take a look at where the markets may be going over the next week or more. I focus primarily on the inside bar pattern and some potential ways to trade these setups. Since early this year there have been a number of high quality price action setups including...
The reversal flag that I identified yesterday has broken to the upside as predicted. Price was being pinched between the descending channel (flag) and the major support trend line and finally broke out of the flag with a strong upside move. In this video I perform analysis on the pattern and the type of further price action I will need to see before I become a...
Price continues to consolidate on the daily chart so I take a look at any price action in the hourly charts. I see a potentially bullish hammer setup on the hourly chart off of a key price level. If the candle closes as a hammer and breaks above we may see that next strong bullish move up.
I take a look at the 3 bearish patterns that have formed consecutively in bitcoin that gave traders 3 clear opportunities to get short. First a head and shoulders, then a flag, and finally a pennant. I then take a look at the nearest major price resistance level where we can look for any price action signals to get short again and follow that overall bearish trend lower.
While I have been and am still bullish on the weekly candle, there has been a fairly bearish signal in the 4 hours that has formed and also been confirmed. I was originally in the position from earlier this week and planned on holding until either the weekly pin bar broke to the upside or there was a significant enough bearish signal to cause me to close my...
Ethereum has been on quite a bullish tear since early April. While price has pulled back and consolidated a bit, the markets could be winding up for it's next big breakout! There have been 2 fantastic bullish candlestick setups in the past few days. The first is a morning star setup that formed as a large, high quality signal. Price continued to consolidate...
After a strong bull run in the SPY price has been stuck in a period of tight consolidation. We are looking for bullish price action setups so we can get long with the overall trend. While price continued to consolidate today there was a bullish hammer that formed off of a key support level showing buying interest. If price can break above the hammer we could...
Bitcoin has broken a key support level. Now broken, the support will act as resistance. We will be watching for price to eventually pull back to this level and for any bearish price action patterns to form such as a bearish pin bar, engulfing bar, evening star, etc. A bearish price action pattern at this key resistance level would offer a great opportunity to...
Gold has been forming something like a reverse flag pattern where the flag actually points the same direction as the flag pole, or in other words price rapidly fell and the flag is in a descending angle as well. These types of patterns can actually be bullish reversal signals. The flag is descending into a support area and could cause a sharp direction move as...
Although today's price action didn't produce the convincingly bullish strength I was hoping we would see, it is still hanging on there. While on the daily charts there is a bearish pinbar, it has a few things going against it. For one it formed above a support line, which is hardly a bearish sign (and in some cases can actually be bullish). Also you don't get...
After getting hammered down during the morning US trading session AUDUSD surprises again with more short term bulishness. A bullish pin bar candlestick has formed off of a key support level in rejection of a larger selloff. The AUDUSD will need to press against a large number of headwinds if it is to complete a large reversal of the long term downtrend. The...
An inside bar has formed on a number of charts including the /ES, /YM, XLF -0.42% and others. These are all following a strong trend which signals that the market is taking a short breather. Generally in periods of price consolidation after a long move we want to look for opportunities to get in the market on the next up move. In these cases we would be looking to...