AUDNZD is about to complete a Gartley pattern formation. We're now waiting for the CD leg completation. I like how this setup is forming a harmonic CD leg that is between the 127.2 Fib retracement of the AB leg and the 78.6 Fib retracement of the XA leg. Let's wait and see what happens next. Good trading
Crude Oil has shown a rally at the the end of last week touching the $34. But it's early to say that the bearish trend is finished. I'd wait to see some strong signal that invalidates the continuation of a bearish trend such as a closure above $38. If you have a look at the Daly chart you should see a bearish flag that might be violated today. Let's see what ...
The CAD is strongly tied to the commodities market. This is one of the reason why the USDCAD has been bullish these period. Crude oil is now showing some signal of strength and the same is for Gold and Silver. The USDCAD has retraced on the previous support between 1.4 and 1.38. It's about to create a good opportunity for a trend continuation trade with a good ...
AAPL stock is continuing to go down after reaching the $134 price. The $100 has been broken and the stock in now on a strong structure that can work as support. I'd keep an eye on the $85 price to go for a buy. But I need to see other signals to confirm my idea. PS: Have a read at this article: http://fortune.com/2016/01/28/apple-investors-worried/?xid=yahoo_fortune
EURCHF has formed a rectangle since August 2015. It looks like a strong comfort zone for the cross. Yesterday the channel has been broken but today the price is unsure where to go. Keep an eye on this cross to consider a long trade, if the price closes above 1.1070, or a short if the price goes back into the channel. Good trading !
Precious metal markets has stalled for some time after a strong bearish trend. But today we've seen a strong bullish movement with an ascendent triangle breakout. This might be a signal for a small long entry. The next profit level might be pointed at around 1138 and then 1164. What do you think ? Good trading !
Crude oil gave us several bearish tech analysis patterns during these 2 year. And it's now continuing its bearish trend. Now it does not look impossible to see the prices points to lower structures: 25 (1997), 20 (2002), 10 (1998). The war between OPEC and US Shale Oil industry is not finished yet !
The cross has formed a Head & Shoulders pattern on the Weekly chart that gives us a potential signal for a trend reversal. Last week's candle has broken out the neckline but there's still an opportunity to enter the trade. The risk/reward ratio is very good, more than 1:3.25 Good luck and good trade !
USDCAD is moving very harmonically in the last months. After a first ABCD pattern has been completed, it might now create a new structure high. There will be 2 different options for this trade: - go long following the new ABCD pattern - go short waiting for the retracement to the previous structure low Be patient and good luck for your trade !