A very basic analysis for $JNJ shows that the stock is facing a major resistance zone before earnings. The 98-100$ zone, a strong structure that held as support during more than a year, was broken during August and now became resistance. Add the 200 SMA line, the downtrend line and the sellers pressure that this stock will face when it will reach the...
Last week, $AUDUSD, created double bottom near 0.7. With the right price reaction to AUD rate decision, scheduled for this week, $AUDUSD may finally pick up some strength and breakout of its daily downtrend line. The double bottom is the setup that may support this bullish assumption.. but we've seen plenty of double bottoms in $AUDUSD during the last year that...
$EURUSD finally reached my target zone - 1.14 - very close to completion of bearish Bat pattern 200 pips winner for those who entered near 1.12 as previous setup suggested. The next potential target level, longer term target, for $EURUSD is 1.18 (bearish Crab) But.. The blue Bat can create some pullback, and beside that, 1.14 is a strong resistance zone that...
Earnings are high risk binary events. Many traders try to time major directional earnings moves by using technical analysis (me included). Although it often works, it sometime can end up with an unpleasant loss. Before $YUM's earnings, I sent to the Elite Zone members a setup suggesting that $YUM could reach 92$ and complete a bearish Bat pattern (potential...
Just like in $AUDUSD (see linked idea), $AUDJPY also shows potential upside towards AUD rate decision. The setup - Aggressive C entry in a bearish Bat. Stop loss below X (or at least below C) Potential targets - 87, 89, 90 and 91. Notice the strong resistance zone near 90-91. This is the final target level for this setup and potential short term sell zone that...
Finally, more than a month since I first published the bearish Crab scenario, $USDCAD reached the PRZ. Now, there are several ways to trade it, here are two of them: 1. Aggressive approach - Sell the pattern completion near 1.34. You can look for smaller time frame reversal pattern to better time your entry. 2. Wait for reversal confirmation - More conservative...
In my previous analysis, I mentioned 2 sell zones in $XAUUSD that, back then, was rallying towards them. $XAUUSD couldn't overcome the 1150$ level and declined back towards its uptrend line creating possible bullish opportunity. 1100$ is the key support zone here (1100-1110$). 1. It is s structure zone (now support) 2. Price will meet the uptrend line 3. In...
$SPX just reached 1900 again and completed a 61.8 Fib retracement when it touched 1890. This minor support zone could be enough to push $SPX back up towards 1920 to test the top of the resistance zone. Just in case that $SPX will decline lower to re-test 1870-1880 support zone, it will provide an even better reason to try and speculate on a bullish move as it...
For more than a month now, $USDJPY has been trading inside a 200 pips range, between 119 and 121. We've seen this pair stuck between 119-121 in the past (last time it was for two months between mid March and mid May) and the result of the breakout was a 600 pips rally towards 127. In which direction we should expect $USDJPY this time? Will it happen today...
The setup posted earlier this week reached target level. The setup was to buy the 1870-1880 zone once 1900 failed to hold. Following a double bottom, the price finally climbed back above 1900, perhaps providing a bullish False break signal that will lead to further gains by the end of the week,
The potential Aggressive C entry in $SPX failed as bearish sentiment continues to drive markets lower. It is still Monday and there are plenty of economic coming later this week, but no doubt that the breaking of 1900 provides another bearish signal. Two things to monitor now: 1. 1870-1880 - Structure zone that can provide support and potentially weekly double...
$EURUSD was the first among the majors that defied the U.S dollar last week and rallied 150 pips after hitting support zone and the daily 50 SMA line near 1.11. Although it was rejected towards the end of the week by the 50 and 200 SMA lines (240 minutes), it managed to close above the daily 200 SMA line, just below 1.12, perhaps providing a signal that it...
I always find it amazing how the media starts talking about crisis when it almost over. Although $CAT is still far from the important buy zone I'll mentioned below, $CAT had to lose almost half of its value for this guy to start paying attention: www.cnbc.com (Jim Cramer realizing the $CAT is in trouble). In fact, the bearish opportunity on $CAT was about a...
Successful AB=CD pattern initiated today's rally on $SPX. 1945-1950 is key support now and the hourly 200 SMA line is what currently keeps $SPX from breaking higher. Towards GDP - Potential pullback towards 1945 or breakout towards 1980 and 2000. I'd place stop loss below the 50 SMA line (hourly) If you want to learn more - goo.gl Yesterday's AB=CD setup - goo.gl
1920 is the nearest daily support zone. 1950 is now resistance. There's potential bullish aggressive C entry here if $SPX will close about the Fast and the 50 SMA lines. 1945 is nearest target level for short term traders. 1965 is the next target Final target for this setup 1972 - Completion of bearish Bat
$EURUSD is losing power towards Draghi's speech and Euro Zone PMI numbers. On my Weekly Markets Analysis I mentioned that last week's False Break to 1.14 means that this pair will reach 1.12 and test its 200 days MA. Well, EURUSD did more than that and reached near 1.11, below the 200 days MA and now testing the 50 days MA that looks like barely manage to hold...
Gold started its latest rally following the completion of an AB=CD pattern near 1070$ and the breakout of a small falling Wedge breakout. It rallied 100$ and met the major 1160-1180$ structure zone that held as support till July 2015 and reversed its role to resistance and pushed Gold back towards the 1100$ zone. During the last trading week, gold rallied from...
The last two setups I posted here for U.S Dollar index were bearish: 1. Bearish Gartley (yellow) 2. Bearish continuation move from 97 - Structure resistance, 50 SMA line and 61.8 Fib Both of them were successful Now, $DXY is sitting on an interesting support zone: 1. 200 SMA line (strong support) 2. Two previous trend lines (green and red dashed lines) that...