You are still on time to start with a short campaign on this pair. I started a few days ago and I believe we still have a few weaks ahead of bear season. Thanks for your comments and likes.
Several ingredients are now ready to long gold, among which DXY already started its descent. We've been hammering this angle enough and it looks ripe to break now. The safest play would be to wait for the pop on the other side, and even safer to long the pullback.
DXY re tested the 0,618 angle of the fan and is now showing signs of reversal. I started with small positions on EURUSD and NZDUSD. I will add more and think of USDJPY depending on the index on the following sessions. I believe we're headed towards 98,7 on the 0,5 angle, at which point it might reverse when the bat pattern completes.
I thought before elections that Trump winning would bring a sustained uptrend on XAUUSD as well as on XAGUSD but this doesn't seem to be the case. Isntead we made another shooting star that signals the beginning of a new period of lower prices. Plese observe the last time we had that kind of traded volume on this asset, it was the very same day we made another...
This pair just reached a level not seen since april '14 and is showing several signs of topping. Please check the volume behaviour on the Acc/Dist where last bull run didn't along with volume. Also, the money flow is coming back from its overbought condition. Aussie has been showing signs of weakness on other pairs too.
This bat completed and it seems there will be some correction ahead. Bear in mind that these patterns do not always signal a reversal. The ichimoku cloud also points to some downward trend ahead and the daily candle looks like bulls are exhausted. I will wait for confirmation on this and start positioning by the end of the week.
Silver price action has been quite flat for a few days now but there is an interesting fact to observe: it seems clear to be some accumulation in this area creating a solid support. You can see three different volume indicators all pointing upwards. OBV has been going up way faster than price and money flow index is coming back to bull territory. This same...
This gartley had a nice reaction and the play still has some juice to take. Targets marked on the chart.
I believe this is the retrace of a longer term downtrend. Once over I will reload shorts. Targets on the 0,382 and 0,618 of the CD leg. Good luck and thanks for your comments and likes.
Here are different price levels where BTCUSD had resistance and then turned to support, they coincide with the levels on the pithfork and are online with actual weekly and quarterly futures contracts: 609 and 623. The money flow shows confirms that we have been in a bull market ever since the Bitfinex drop.
The PRZ has been tested and it's online with past resistance. Aussie weakness should be online with its XAUUSD correlation. Gold is even worst that what I thought on my last published idea that I thought quite bearish at the time. First target around the 78 area on the 0,382 fib, and second target on 0,618 at 77,3. Thanks for your comments.
This pattern is testing the PRZ and it is possible that after a few days travelling on the overbought zone of several indicators USOIL is ready to correct. I will keep a close eye on XAUUSD too because those two assets are correlated and tend to synchronize their reversals. Try to graph the ratio of the two and you'll see we just hit a support line.
The last fall in gold was one of the largest of the past months and I believe it will mark the end of the bear market we've been since 1370's peak. Please note with the indicators shown there is always lag between the bottom of the indicator and the price, and the harder the oversold, the more complex and laggy the bottom price is. This is not a trade idea, but a...
The pattern did a great test of the PRZ and showed clear signs of reversal. There is also a divergence on RSI that points toward the same idea. The pitctchfork channel also coincides on this top. OPEC's 'agreement' created this shortly lived spike that opens a great opportunity to profit of the return to USOIL price reality.
Copper just made a peak and is gathering downward momentum. I entered this trade yesterday, but I believe there is still potential and the trend may last for a few days more. The weekly shows the same pattern and we are crossing the Ichimoku cloud soon, all good bearish signs. Targets are on the following levels of the pitchfork. Thanks for your comments.
This one is another trade I'm placing pointing to the new DXY trend (see related idea). Signs of reversal on the daily are clear and price seems to be resisted by the pitchfork and the Ichimoku cloud.
We just completed this bullish bat and signs of reversal are already there. This last leg down is part of a retest of the lower part of the pitchfork drawn. I do not have positions on DXY but always keep an eye on it for my other trades like XAUUSD and XAGUSD. Please see the related ideas that are online with this new uptrend. All comments are welcomed.
We all know there are no silver bullets, specially when it comes to trading, but this play looks promising and there are several signs that should raise some red flags. We entered a bear market since last top around 21 and since then we have been oscilating between lower highs and lower lows. I believe this trend will be kept until US elections and/or rate hike,...