Palladium XPDUSD SHORT Trade in progress, 4 hour chart technicals. Trailing Stop Loss is at 761.91.
LONG Silver XAGUSD setup on 4 hour chart. Trailing stop loss @ 16.50.
Bearish pressure showing up in the technicals (divergence, TrendCycle) for CL on the 4 hour chart. Caution on additional LONGs until a close above 51.60. Trailing STOP LOSS for LONGS entered back at the 45.50 level is currently at 49.83. A pullback could go to 50% retracement level at 48.26, or 78.6% retracement level at 46.30. "Look, man. I only need to know...
Weak USDJPY downtrend with increasing bearish momentum. SHORT USDJPY trade with trailing stop, currently 113.83. Stay frosty.
Might be a good time to take profits from CL long trades. Price hit Resistance at 51.80. For the BOLD trader, Countertrend SHORT trade entry on CLOSE below 50.90
CL is hovering around resistance at 49.18. Next levels up are 50.03, 50.87, and 51.80.
Not a whole lot of upward room to get to resistance at 48.03 A CLOSE above that, look for resistance at 49.18.
Looking at a Fib retracement, USDJPY has broken through 50% level @ 113.00. Should it continue upwards, the next levels of significance are 61.8% @ 116.05 and more likely 78.6% around 120.36.
Bearish EURUSD broke through a 1.272% Fib extension area around 1.0599. Next area of significance is 1.618% Fib extension area around 1.0455.
GBPUSD SHORT on break below SUPPORT @ 1.2141. GBPUSD is in a Bearish Trend on the Daily after a pullback from 1.2141 up to 1.2667.
LONG Wheat Trade Setup on the DAILY chart - LONG on a Break ABOVE Resistance 428'6 with TARGET around 449'2.
Right now the U.S. Dollar is on the rise, most likely because traders feel the the Federal Reserve will raise interest rates shortly. Looking at the EURUSD (Euro/US Dollar) daily chart, there is still the large spike candlestick on 11/08/16 from the US Election results as Donald Trump was declared the winner; however, the market was in a downtrend before the...
Observation - market dipped around 9:00PM EST in anticipation of a Donald Trump victory, then retraced up to a .618 level (many BUY orders placed around 2040). Possible hold at 2108.6 for continued SHORTS, but most likely it settles out.
BTCUSD is technically still in an UPTREND but currently in a sell off. Look for support at the 50% fib retracement level @ 684.45 and below that at 78.6% fib level @ 649.78. Lots of divergence leading up to the sell off. Momentum is is drifting BEARISH but still BULLISH overall.
GBPUSD has flipped to BULLISH (TREND and MOMENTUM) on the 4 hour chart but remains BEARISH on the daily chart. This could be a retracement up to the 50% fib level @ 1.2541.
EURUSD is Bullish on the 4Hr chart but currently pulling back into a potential retracement. Key levels are 50% retracement @ 1.0988 and 78.6% retracement @ 1.09107
LONG NZDUSD setup on the hourly chart. Look for initial target 0.7265 with STOP around 0.7142.
Looks for SHORTS on a CLOSE below 4472, TARGET #1 50% retracement level at 4536.5, TARGET #2 4332.5