$NZDJPY turned 81 to support zone by closing above it at the end of Friday's session. The bearish Bat pattern is still in play but the fact that the price bounced twice on top of the Fast SMA line and couldn't close below it is a strength signal for $NZDJPY. 83 is the top structure zone of the trading range marked in the chart. A close above 83 could send...
$SLV's daily run from 13.5$ to 15.5$ started from the bullish AB=CD pattern shown in the chart and it was stopped right on the daily 200 SMA line following a bearish Butterfly pattern completion. The Fed's announcement, as expected, created some fireworks and spikes in metals, but eventually $SLV declined below its 200 days Moving Average. The failure of the ...
Draghi's words last week, knocked out $EURUSD that was hanging there near 1.14, looking like it was about to breakout higher. The result of Draghi's speech was that $EURUSD declined all the way down to 1.1 again, breaking down two trend lines and several support zones in the process. Now, back near 1.1, which is a critical structure zone, $EURUSD completed a...
Last week, AMAZON's earnings resulted with a huge rally, exploding $AMZN into the PRZ of a bearish Butterfly I've been monitoring. My pre-earnings setup was bullish with anticipation that the price will complete the pattern and create a bearish opportunity I've been waiting for since August's low. The first target of this setup is 550-560$. The top of the...
Since my latest analysis, $TWTR rallied and reached the 30$ target zone (see linked idea). Now, $TWTR is forming potential bull flag, just below the 32-33$ structure zone. It looks like $TWTR is about to break out of both the structure zone and the trading channel (black dashed lines) towards the next target zone - 36-37$ The Fast and 50 SMA lines act as...
$DXY with bearish harmonic pattern towards Fed's statement. It can create bullish opportunities in $EURUSD (I posted about the Gartley pattern here), $AUDUSD that suffered some losses earlier and $NZDUSD (wait till after rate decision RBNZ). 96 and 95.5 are short term targets for this setup. Read about this analysis and others in special Pre-FOMC analysis - goo.gl
Yesterday, I sent to the Elite Zone members an earnings setup for $CMCSA that completed a bearish Bat Gartley just below a broken Wedge pattern. First target level was reached on the open and now, the price may pullback, allow a second entry chance towards secondary target zone - 57-58$ Tomer, The MarketZone Subscribe to my newsletters - goo.gl Follow me on...
The previous setup I posted here for $USDCAD resulted with an impressive 500 pips decline following the Crab's completion. Now, $USDCAD completed a 61.8 Fib retracement and it is testing a daily structure along with the 50 SMA line (now resistance). This is a potential zone for a bearish turnover and a bearish continuation trade. The R/R now is less appealing...
$SPY officially erased all of Augusts losses. It gapped up above 207$, the completion of the bearish Gartley I mentioned in my weekly markets analysis FOMC is next week and finally there's a reason to be bearish again. I've been bullish for too long :) A close below 206$, below the 200 SMA line, will be a great signal for next week's trading week Potential...
$SPX is back above 2000 again. Since it's double bottom near 1880, it rallied straight to 2000 without even looking back. 1980 -2000 is the nearest support zone now and potential buy zone in case of short term pullback. The more interesting scenario now is the bearish one, if and when $SPX will reach the 2040-2060 zone. Depending on where you pull the pattern...
$EURUSD declines fast today following Draghi's press conference. It completed the pullback I was looking for (target was 1.125), but broke below the 1.125-1.13 support zone and below the minor uptrend line. Now $EURUSD is testing critical support zone (1.11-1.12) and approaching both the 200 SMA line and the daily 200 SMA line. Buy zone between 1.115 and 1.11...
Consolidation is the best market condition for harmonic trading. In this 240 minutes chart of $EURJPY, the price is trading between 138.5 and 133.5 On October 9th, $EURJPY completed a bearish Bat pattern (blue) that sent this pair to re-test the 135 structure zone (now support). Despite the sharp decline, 135 managed to hold $EURJPY above it and it bounced...
Since the last time I covered $GBPUSD in my analysis, it rallied from my buy zone back to re-test the bottom of the weekly trading range (1.55-1.62) 1.55 is a very interesting level to watch this week. The weekly structure zone and the daily downtrend line won't allow an easy pass for the Cable and as long as the price is below it, it presents shorting...
Last week $EURUSD's attempt to break above 1.14 created a False Break as this pair reached 1.15 and immediately reversed and declined back below the X point (1.146) of the bearish Bat mentioned in my previous analysis. Once $EURUSD declined below 1.146, it provided a sell signal and the confirmation came later when $EURUSD declined below 1.14 and below the...
$EURUSD continues to show strength today and the price is testing the X zone of the bearish Bat pattern I mentioned in my previous analysis (see linked idea). The fact that the price bounced from 1.14, which was structure resistance, and right now it is above two rising Triangles patterns suggests that $EURUSD intends to continue higher towards the next...
Gold's rally, started near 104 with the completion of the bullish Crab pattern, is about to reach Targets 2&3. The zone between 112$ and 114$ is a strong resistance zone that $GLD will have to face if it intends to breakout higher and continue its correction wave. As long as $GLD is below 114$, I focus on the bearish side and the 112$ - 114$ zone presents very...
On my latest $TWTR analysis I posted two harmonic patterns towards previous earnings (see linked idea) August declines pushed $TWTR right into the bullish Butterfly's PRZ near 20-22$ and the stock bounced sharply and rallied to 28$, closing above its Fast SMA line (bullish signal). During the last couple of weeks, even during last Friday's declines, Twitter...
Earlier this week I've traded with the Elite Zone a bullish Butterfly in $EURAUD (goo.gl) The position reached secondary target level today and now there's potential reversal zone based on structure and MAs. 1.57-1.58 is the resistance zone I'm referring to With stop loss above 1.58 and above the daily Fast SMA, the first target level for this potential...