Hey fellow traders, I am traveling for both personal and business over the next two weeks and will not be posted as frequently as usual. If you haven't been following me you have missed a number of accurate predictions in the last few weeks such as the AUDUSD bullish breakout, JPYUSD bull trap, SP500 breakout, Gold price pop, Macy's bullish price explosion and a...
While I am personally trading the SPY due to it's great stock and options liquidity there have been a number of great bullish signals being through in multiple index and futures markets. Today I focus on the NASDAQ 100 futures and point out a nice inside bar/2 bar reversal pattern that as already broken out to the upside as well as an inside bar/ false break...
The USDJPY sold off overnight with a somewhat aggressive recovery by the bulls. While the bulls have recovered a lot of ground it does not look like enough to convince we to be a buyer. I will be watching for 2 tradeable outcomes 1)there is another false break lower with another sharp recovery (perhaps a double bottom pattern) in which case I would consider...
While I am personally trading the SPY due to it's great stock and options liquidity there have been a number of great bullish signals being through in multiple index and futures markets. Today I focus on the NASDAQ 100 futures and point out a nice inside bar/2 bar reversal pattern that as already broken out to the upside as well as an inside bar/ false break...
Bitcoin has been forming a bearish pennant pattern since early 2018. When looking at the pennant we generally make our bias whatever price was doing going into the start of the pattern. In this case the pennant began shortly after a very strong selloff in bitcoin that saw 50% of it's value disappear. That would make this pennant bearishly biased and we would be...
Price continues to consolidate with the 5 year notes. On the daily chart we can see a large mother bar with 2 child bars. We are currently watching a 3rd bar form which looks like it may want to break out to the upside. If this happens it may be setting up for a very bearish pattern called an inside bar fake-out or false break-out. That is when you have an...
A few weeks back TSLA generated some very bullish price action signals off of key support levels after a sharp drop in prices. I was able to get long at 282 and held until the market generated a bearish price action signal and I closed my position at around 306, the day before price began to fall sharply. When identified in the correct context, price action can...
Price has pulled back to the target support area of 110.50. If you watched my video earlier this week you will remember that I mentioned prudent traders will be watching for the current bull rally to exhaust and pull back to the critical support area. It is within this area that we will be watching for price action signal to get in the market long with the...
Price has pulled back to the target support range around 0.7550. If you watched my video earlier this week you will remember that I mentioned prudent traders will be watching for the current bull rally to exhaust and pull back to the critical support area. It is within this area that we will be watching for price action signal to get in the market long with the...
I have been patiently waiting for a breakout of the consolidation area that has been forming since mid last week. Price looks to finally be ready to break out of that range this morning. Price action has been signally strength recently with yesterdays gap up and price hugging the upper range of the consolidation area and then this morning with another breakout...
CADUSD is currently range bound with price hugging the upper area of this range. In cases where price is range bound I am always watching for a fake break-out and pull back, which sets up the market for a push back down to the bottom of the range. The types of candlestick patterns I am looking for are pin bars, engulfing bars, 2 bar reversals, bearish engulfing...
A few days back I posted analysis on a bullish reversal flag pattern that had formed in gold. At the time I said to be watching to see if price would stay broken out or if bears while push is back down inside the pattern. Price did fall back inside the pattern, fall down to make new lower lows and then staged a very impressive V shaped price reversal. This...
The patience, discipline and accurate technical analysis has finally paid off in a big way. For those of you who were on the right side of the market with me, congratulations. After more than a week of consolidating and multiple bearish signals on the hourly, daily and weekly charts, price has finally broken out of it's range in a very bullish manner. Some of...
The markets have taken a bit of a breather over the last week or so. This type of price consolidation is common after a strong move and can provide good opportunities to get into the market for the next leg. In this case we have price still consolidating but starting to hug the upper range of the consolidation area. A potential entry is on the breakout of the...
In this video I discuss key support levels where selling short options for both premium as well as direction(if price bounces higher off of key support) can provide a highly probably and profitable trade setup. There is far more to options that I can fit in a 10 minute video but if you are unfamiliar with them I encourage you to research options. They can add...
Last week we saw an inside bar pattern form on the ES. There was a false break out of this inside pattern. Price pulled back in and continued to consolidate. Going into the Monday morning trading session it looks like we will have a gap up and may finally see that upside breakout to start the next leg up.
XAUUSD continues to show weakness. As badly as I would like to see a rally back above 1305, it is simply not showing any price action that would signal such a move. As traders once of the keys to being successful is leaving your personal opinions outside of the trading space and simply trading whatever price is doing. The market doesn't care about our opinion. ...
USDJPY continues its very bullish march higher. In cases like this we find key support levels, look for market exhaustion and price pullback to these levels and then wait for high quality bullish price action signals to get long with the overall trend. We never want to go short during strong bullish trend like these since becomes a game of picking up pennies in...