samcco09

samcco09

NZDUSD has been in a multiweek consolidation pattern and is looking for a breakout. The consolidation has been in a triangle pattern, with one trendline being broken and re-tested as shown on the left chart. The second upper trendline could be valid, but it is hard to tell based on limited data. NZDUSD appears to be entering a breakout long, with bullish MACD...

samcco09

TSLA has been in a nice corrective wave and consolidation pattern, confirmed by decreasing volume. ADX crossover is bullish. Elon Musk continues to show his influence, recently moving markets in BTC and DOGE. The hype on Elon and TSLA is not going away any time soon. Watch for a breakout to $1000+ on this momentum play.

samcco09

Watch for GBPUSD to breakout of its multiweek consolidation and re-test a few resistance zones. USD will have continued weakness in the mid-term Target 1: 1.4 Target 2: 1.42

samcco09

Ford appears ready for a small pullback before continuing on its bull trend. There are several support zones to watch for, the strongest of which is ~$8.15 where there is fib support and previous resistance zone. Retesting 2019 high ~$10.50 is realistic

samcco09

Apple appears to be breaking trendline support after earnings were released. Slowing Iphone demand gives a bearish forecast going into the end of the year. If trendline is confirmed broken in tomorrow's trading, look for a retest of the trendline before going short. The next two major support zones are ~$105 (which conincides with .382 fib) and ~$100....

samcco09

EURUSD has been ranging for a few months and now looks like it is starting to breakdown. Watch for a move to the .382 fib as it aligns with previous structure and moving averages are turning bearish. DXY looks ready for a bullish breakout of its consolidation and validates the bearish move in EURUSD. Any volatility from the US presidential election and stock...

samcco09

PLUG has been in a consolidation pattern for the last week. Watch for a breakout out of the wedge to previous structure. Renewable energy stocks have been on a tear pricing in a Biden presidential win and new green energy policies. If Trump wins re-election, PLUG and other renewable energy company's outlook will be bearish.

samcco09

BAC has been consolidating over the last two weeks, giving us an opportunity for a nice play on the stock. In this consolidation, we have two potential scenarios: Bearish: BAC breaks out of the bottom trendline and forms a bear flag pattern to retest September low of ~$23.15 a share. Bullish: BAC breaks out of the top trendline and retests $25 Out of these...

samcco09

GE has been ranging between $6 and $7 for a few months now. In late Sept. we have seen a nice consolidation right at the $6 support. This area seems to be very strong support for GE and provides a good opportunity to go long off it. Bullish price action and bullish divergence on the RSI. Realistically we will see a re-test of the $7 resistance soon. This is only...

samcco09

Last month, we were watching NZDUSD for a potential long opportunity. This is an update from the idea posted on 7/16. NZDUSD broke through the resistance in the .659 zone to retest previous highs of .67. Now, the next support zone to watch for is the confluence of major trendline support and a previous support zone around .64. If these supports hold, go long to...

samcco09

Watch for GE to make a move to retest the lows around $5.50 a share. GE has found temporary support at $6.00 and is forming a bear flag pattern. The hour chart on the right shows respect of the minor trendline of the flag. Look for a break in the trendline before going short. GE had a wide miss on earnings last week, driving share prices down on heavy selling...

samcco09

Look for APPL to retest previous highs around $400. Huge earnings beat, momentum confirmed with strong price action on the daily chart

samcco09

Nice short term play for SNAP. Tech sector has been on a roll from the march 2020 bottom, look for a nice pull back to at least the .382 fib. Fib support lines up with previous resistance and tested support zone

samcco09

Watch NZDUSD for a potential long opportunity. Price has been consolidating on the daily with a bullish weekly chart. Long breakout to previous high around 0.674, or wait for trendline support before going long. This is an idea only, and not investment advice. Trade according to your own rules and risk tolerance.

samcco09

Watch for a break in the minor trendline for an opportunity to go short to major support zone around 1.38. Weak data from USD and rumors of oil deal progress could help the technical side

samcco09

USDCAD has broken out of a multi-month channel and looks like a nice opportunity to go long. After breaking out it has retraced forming a bull flag pattern on support from fib, moving average and broken trendline. Oversold Stochastic RSI is bullish. Strong NFP/jobs data from the US support a rate hike this month, and combined with weaker data from Canada look for...

samcco09 Updated 

After last week's massive sell-off, the NZD/USD should see some retracement before continuing the current downtrend. It has found some support on the daily chart and looks like there could be a rebound to the .717 area. There is a strong resistance area due to previous trendline/structure, fibonacci, and moving average resistance. Watch for price action to bounce...

samcco09

A descending triangle pattern has been forming on the NZD/USD 4 hr chart. The highs have continually gotten lower and the base of the triangle has been acting as strong support. For a potential short opportunity, watch for a break in the base of the triangle and a retracement back to test the base for resistance. In an ideal descending triangle, the target range...