That candle I marked was special. The price went up before the morning and it dropped as the day closes. This is generally a sign of institutions selling to bring the price down on low volatility. (Think about it..why would they want to bring the price down on low volatility?)
So, I'll keep a close eye today and ...
After a inconsistent H&S pattern, it looks like there might be another opportunity to get on a short trade!
It has been trying so hard to break the trendline from more than 12 hours(long time if you consider the timeframe). I think the pattern is obvious.( Break up the trend line for the first time -> crawl it ...
There's no way we're going down. I explained why in my previous chart.
To summarize, last year's drop is nothing if you consider a time frame of the last 8 years(from 2008). Look at bullish momentum on monthly chart.
It looks like that the chart hit bollinger bottom band and started continuing it's bullish ...
In my previous idea, I predicted that we might be in for a short downward retrace before going up.
Seems like I was not completely right. The bullish trend was so powerful that the retrace only lasted for less than a day when the price hit the top.
Regarding the present scenario, I'm predicting that tommorrow ...
Gold has been resting for a while after the drop I've mentioned as a possibility in my previous chart.
In this current scenario, there are two possibilities,
1) It might pullback and rest in the channel I've drawn using pitchfork.
2) It might possibly resume it's bullish pullback and will retrace most of the ...
Yes. It's nice to see that the chart is following my last idea (linked below).
This is the best place to close the long and stay out of the market for a while. If you enjoy taking a risk, let it run until it touches the top.
My prediction is that the Copper will eventually break the top trendline after some ...
I still stick with my analysis that s&p is going up.
We have experienced a strong bullish trend from 2009 and a very small bearish fake out this year(considering the longer timeframe of 7 years vs 9 months). We resumed long term bullish trend and will stay in it for quite a while.
Always keep a look out for flat ...
Copper is in a squeeze. It will touch the top trend line and most probably retrace to the bottom one.
The reason I have included a very long trendline (2004-2009-2016) is to give the reader an idea that we are still in the beginning of a possible long term bullish trend.
Case 1) The squeeze fails and we will ...
This is my current analysis. The first important thing is to find out how it behaves near the MA. So, I'm still neutral regarding direction.
To be bullish, it must hold the trend line with an arrow at the bottom (or) the MA in the middle.
To be bearish, there should be a fake bullish thrust ...
I posted a previous idea explaining that USDCAD is a long.We already know the correlation between USDCAD and USOIL.
I drew the impulse wave, which was similar to that of USDCAD. And there's an MA near the current price.
I dont believe that oil prices are going low again. I am assuming that we are going to see ...
If you look closely, we have a Dragonfly doji (sort of ) formed by February 2016. So, if we consider this as a typical Bollinger pattern, this is sort of a free ticket (rise) to the top of the Bollinger band which is around 2200. The market had already corrected itself. Looks like I might be bullish all the way.
It's rising. We do have a MA around 49.
We will be on a uptrend till 49(approx.) where the chart balances itself a little bit and decides whether to take off or rebound. Mostly any fundamentally important data (like OPEC meeting or any freeze deals) will kick off USOIL to a bullish trend or continue going down.
This month, it hit the Moving Average. Even though the indicators are strongly favoring short, the possibility of rebouncing off this MA should also be considered. I know most of you don't trade monthly charts, but it helps in figuring out some of those crazy movements on a daily chart.
Take a look at my recent research about the drop that occurred during the last year. Perhaps, if we were smarter we could have avoided that drop.
Nothing special in this chart. I just used a simple fib based trend extension.
So, I'm now currently using this strategy to different markets like XAUUSD, USOIL , ...
There are a lot of reasons to believe that we going down in the longer term(I'm not talking about what will happen in the next few weeks). Here's my analysis.
Lately, there's little correlation between USOIL and USDCAD which are inversely related in general. This might imply that
one of the markets is chaotic. We ...