luke1827

luke1827

"Unlike most major economies, Singapore’s central bank manages the exchange rate, rather than the interest rate, and has done so since 1981. A small and open economy, Singapore is highly dependent on trade. The Singapore dollar’s strength relative to other currencies can thus influence prices significantly. The exchange rate is also relatively easy for the central...

luke1827

Small cap companies are usually the first to feel the pain on the ground. As some put it, they are like the troops in the front lines, the S&P500 like the officers who stay behind the lines, and the DJIA like the Generals who sit way back. The IWM has been hovering sideways for since March 2014, forming a triple top pattern. In my opinion, now would be a good...

luke1827

Stock market will continue its bull run... ECB unveils €1.1tn QE plan to stimulate eurozone economy... Larry Summers: The ECB's QE won't work... The bubble will burst... These are mixed sentiments that you might hear on the news and over the media. Many investors continued to buy into the all-time high in the S&P500 while other traders and investors that held a...

luke1827

(1a) Completion of an AB=CD formation provides decent probability for a reversal. I will be buying out of the money call options on USO to take advantage of the low oil prices. This is a long term swing trade, so I'm looking to buy Jan 2016 Calls. (2a) Alternative, if Daily RSI hits 15 again, it would also be a level in which I would buy long term OTM call options on USO.

luke1827

(1a) Downtrending resistance lines from July 2014 have been broken (1b) I am targeting 1263 for a take profit. This is the 50% retracement level from Mar 14 to Nov 14 and also the 61.8% retracement level from Jul 14 to Nov 14. Confluence of retracement levels always bring about better probabilities. (2a) Also to note, the RSI 60 level has acted as resistance in...

luke1827

Hello Friends, Today I'm looking to take advantage of an insightful correlation spotted by Paul Mylchreest where huge moves in the Nikkei and in Gold occur during or subsequent to BoJ policy meetings. (See below for link) Paul noted that since Feb or Oct 2012, the Nikkei surges and Gold gets sold off significantly after BoJ meetings. The next one occurs right...

luke1827

Update: Profit target met without triggering entry. Trade cancelled. Looking for CAD to continue its weakness vs. the USD given continued slide in Oil prices and commodities in general. Key technical points for LONG: - Channel slope validated with numerous dead-on hits - Looking to LONG at channel floor - Fibonacci monthly pivot S1 to act as another strong...

luke1827

Update 3 Dec: Took remaining half-position profit, pip perfect entry Update 1 Dec: Taking half-position profit @ .78383, moved stop to entry Hi Friends, I'm looking to short the channel ceiling and follow the downtrend. Pretty good risk/reward IMO. In addition, recent dairy numbers haven't been good which the NZD is correlated with. Join me! Entry: 0.791 SL:...

luke1827

Update: Stopped out Entry: 1177.4 SL: 1167.44 TP: 1238.8 Key points I see: - Uptrending channel - Strong confluence of 61.8 and 38.2 fib levels acting as support - Bounce off the 20MA as shown with the 3 std dev bollinger bands with 20 MA

luke1827

Update: Stopped out Entry: 100.675 TP1: 101.364 TP2: 101.727 SL: 100.121 Stop to entry upon TP1

luke1827

Update: Took profit Ride on further waves of QE announcement impact by BoJ Entry: 117.950 SL: 117.8 TP: 118.25 RRR: 2:1

luke1827

Update: Took Profit @ both levels TP 1 @ 38.2% retracement TP 2 @ 61.8% retracement

luke1827

In this study, I'm looking at the performance of gold, in terms of percentage gains/loss compared to the performance of the US dollar, tracked by the dollar index (DXY). As gold moves inversely with the US dollar, I inversed the DXY to set a comparative benchmark, hence 1/DXY. Please see notes on chart.

luke1827

Here we find an example of how the simple AB=CD formation can be used in a powerful way to determine excellent Take Profit Targets (Point D) and Stop Loss Level (Below Point B). This is the USDILS 4 Hourly Chart. This is a breakout strategy that can be used on all timeframes and all instruments. These trades naturally allow for a high risk to reward ratio,...

luke1827

Waiting for the price action to retrace to first level of support around 1.2828 before CONSIDERING a LONG. - Support line here is a confluence between the high-low range's 23.6% retracement mark and the previous wave's high - Will wait for price action to see a bounce on support before entering market - If support flushes, I will look to second line of support...

luke1827

It is clear that we have been in a BEARISH downtrending channel since mid July. Has there been a change in behaviour given the recent spike up? Let's take a look. For this study, focus on the RED downsloping line as well as the HIGHLIGHTED YELLOW downsloping line - which is the upper parallel of a downtrending pitchfork (credit goes to Paul Coghlan) from...