About meForex, equities and options private trader. Technical analyst mastering the art of harmonic trading. The owner of The Market Zone blog and website.
My blog - www.themarketzone.n
Disclaimer: The trade ideas posted are only my opinions of the
Joined 2 years ago
EURUSD is in focus this week with the Italian referendum and the monthly ECB meeting.
Here's a brief list of what we see in EURUSD chart:
1. EURUSD is still inside a weekly trading range (1.05-1.114). Last week the bottom of the range held as support.
2. 1.05 is also the completion zone of a monthly bullish AB=CD ...
Gold completed a 61.8 Fib retracement last week and some buyers stepped in.
110-112$ is a support zone that I mentioned in my previous analysis. It can create a short term bullish move especially when DXY is having trouble with the monthly 61.8 Fib level (see linked idea).
110-112$ and 106-107$ is two support ...
This is a chart that I sent to my members today.
It presents two potential trades on IBB:
1. Bullish (short term) setup - 270$ is the key zone as it presents a weekly support zone.
2. Bearish continuation (based on longer term analysis) - Continuation of the the waterfall that started on May 2015.
Waiting to ...
Huge rally today following the U.S data as the market waits for FOMC minutes.
Meanwhile, USDJPY just reached the 61.8 Fib retracement level and a daily structure.
Dollar Index DXY testing previous highs
$EURUSD suffered great losses last week as the Dollar Index (DXY) broke above the 100$ price zone with Yellen's help.
Now the Dollar Index is testing the monthly 61.8 Fibonacci level (102$) and $EURUSD is testing 2015 lows - The bottom of a weekly trading range.
The harmonic pattern hasn't been violated yet and X ...
Looking back since 1995 we see clear price behavior pattern in SPX:
1. Smooth and steady climbing of the Index throughout years.
2. Just before a major reversal we see a price action widening and choppiness increase.
3. Bearish reversal following a close below the Fast MA line.
As you can see, since 2015 we ...
In this week's newsletters (see link in signature) I mentioned that USDCAD will be hitting a strong resistance zone near 1.355-1.36.
For now we see that this resistance zone that includes trend lines (resistance) and an AB=CD pattern did create the expected reversal.
Now all that is left to see whether or not ...
The bullish Gartley scenario triggered today as the EURUSD entered the PRZ.
We have Draghi speaking later today and the focus is on 1.07-1.075 as potential reversal zone.
Potential target zones - 1.085, 1.09 and 1.1
Last week AUDUSD was rejected again from the 0.77-0.78 daily resistance zone which is also the PRZ of a bearish Gartley (pink).
The difference between this time and the previous times it was rejected from this price zone is that now AUDUSD sell off drove it below 2 MA lines and the bottom of a trading channel - ...
The elections result sent DIA back above 182$ and triggered a false break scenario that eventually drove DIA to new record high.
DIA is approaching a weekly resistance zone that starts with the completion zone of a bearish Butterfly pattern.
The other resisting elements are the two trend lines shown at the ...
Last week USDCAD confirmed the bullish break out of the daily trading channel that it was trading inside since May.
1.33 was the critical support zone that included the top of the channel and the Fast MA line and indeed it drove the price to new high.
Now 1.35-1.355 is the new focus zone - Re-testing broken ...
SPX exploding from the 200 days MA line as the Market is enthusiastic about potential Clinton win.
2080 was the target zone of my previous bearish setup and it was a strong daily support zone that was also mentioned in my previous analysis - Those of you who capitalize on it - Good job!
Oil continues its sharp declined that started following a weekly false break to the 50$ handle.
Now Oil is about to test a weekly structure zone and its 200 days MA line.
Interesting support zone to monitor for potential bullish pullback or bullish continuation trade towards OPEC meeting.
The Dollar Index started an early pullback this week before the FOMC meeting.
Yesterday's hawkish tone stopped the Dollar's slide and right now it is sitting on the 97$ support zone.
Good NFP numbers can drive the Dollar back up towards its Fast MA line and perhaps even towards the completion of the bearish Bat ...
Towards GBP data and rate decision - EURGBP with monthly harmonic pattern (bearish) in play.
The pattern was triggered near 0.92 and suggests that EURGBP may be heading for a monthly correction wave..
Potential target - 0.85 (monthly)
The bearish harmonic pattern you see reached both of its target zones.
The price now holds the 50 days support line as FB prepares for earnings.
Expectations are for a great earnings report... with such high expectations the potential disappointment is also pretty high.
Bulls - MA line should hold as support ...
SPX formed a weekly Outside Bar last week.
It was rejected by a trend line and the Fast weekly MA line.
The price is currently also below a weekly uptrend line but still above a minor support zone.
2155- 2160 is a weekly resistance zone.
2120 is a weekly resistance zone.
Potential Target for this bearish ...