trading2day

trading2day

With weekly Stochastic at oversold levels and turning upwards, price at the 50% Fibonacci retracement of wave 3, price at the lower boundary (last support) of the weekly Kumo (cloud), with wave 3 already 161.8% of wave 1 (text book extension of wave 1), there are many chances that we have completed wave 4 of the entire move higher since the 2016 low. First target...

trading2day

Silver is showing signs of an inverted Head and Shoulders pattern. With the neckline at $16.11, a break above it will open the way for a move higher towards $16.50 (1st target) and $16.70 (2nd target). Today's NFP announcement could provide the causation for such a break out. So looking closely for a sustained break above $16.11 to go long with stops at the low...

trading2day

I'm bearish the Dollar index for a couple of reasons. 5 waves up completed. Wedge pattern formation breaking down. 3 drive bearish RSI divergence in Daily chart. Stochastic diverging and ready for bearish turn around. Rejection at 50% Fibonacci retracement. Bigger wave picture suggests we should expect lower prices for the index.

trading2day

5 WAVES up in AUDUSD and a 3 wave pull back at the perfect 61.8% Fibonacci retracement. This is a bullish setup in wave terms expecting a move above 0.7875 and not to break below October lows.

trading2day

The price formation, ratios are text book impulsive in BRK-B and I believe there are many chances wave 4 is complete and we have started a wave 5 move that will eventually bring price towards 200$. First target is 196$. Wave 3 is 161.8% of wave 1, wave 4 retraced wave 3 by 38%, wave 5 is expected to move close or higher from the 61.8% wave 1 to 3 distance. The...

trading2day

I see 5 waves down in AAPL from its all time highs to 142.20$ and 3 waves back right at the 61.8% Fibonacci retracement and Daily cloud resistance. We are currently in an area where the corrective sequence could already be complete or near completion. I now expect another sequence of 5 waves down that will at least make a new lower low below 142.20$. Most...

trading2day

XME price has reached important weekly cloud support and is bouncing dynamically. I expect a new upward move to already have started in XME with new highs as target above 35.10$.

trading2day

XLF is at its final stages of an impulsive move that started back in 2009. Long-term traders I believe should not be bullish and look to protect their positions either by reducing exposure or by raising their stop protections. I believe over the coming years we will see XLF below 20$ again. The April low is an important support that if broken will confirm the end...

trading2day

I see a weekly break out of a wedge pattern and above Ichimoku clouds for the wheat and expect the 2nd half of 2017 to be very bullish...like a spring being pressured to the max and now being released....Price has started making higher highs and higher lows on a weekly basis.

trading2day

A break above 1.2177 will confirm trend reversal for GBPUSD with 1.2310 as the minimum target. There is important support at 1.2140 area as this is the 123.6% extension of the first decline from 1.27 to 1.2340 and also the 78.6% Fibonacci retracement of the rise from 1.20 to 1.27

trading2day

EURUSD is showing reversal signs from above 1.05. I believe that a move towards at least 1.0630 is possible. As long as price is above 1.0490, we might find the reasoning in today's Draghi speech for a push higher.

trading2day

There are increased chances that wave 4 was complete in Deutsche BANK right on the 38% Fibonacci retracement. The recent decline from 19.79€ is impulsive with 5 waves complete at 17.07€. I expect a bounce towards 18-18.50€ for wave 2 and then a strong wave 3 downwards targeting 15.50€ first and then 13.80€. Stop for this idea is the recent high. Confirmation will...

trading2day

Wheat is testing important long-term cloud and trend line resistance. A breakout above 470-480$ area could signal a very big move ahead. Minimum target will be close to 600$. Must be patient and wait for breakout.

trading2day

I'm bearish USDCAD from current levels as long as price is below 1.36 targeting minimum 1.28-1.29, but with high chances of reaching even 1.25-1.20.

trading2day

The downward sloping wedge has been broken to the upside. As long as we hold recent lows I can see GBPUSD rallying towards 1.25

trading2day

I expect USDJPY to top around 120 but for the short-term I can see a pull back towards 115-114 area as wave 4. I prefer to be short as there are also chances of the entire rise to be complete and we do not see 120. 114-115 is key support area.

trading2day

With oscillators diverging I will be expecting Wheat to reach 380 or lower again to look for long positions expecting finally a breakout out of the long-term wedge pattern. On the other hand if the low is already in, I will be waiting for a break out above the wedge and above the weekly Ichimoku cloud to go long. The upside is expected to be explosive. For now I...

trading2day

The Dollar index rise of the last few sessions is near completion if not already finished at 101.47. A pull back towards 98 is expected at least if not a full scale reversal towards 90. This bearish view will only be confirmed on a break below the blue upward sloping trend line support. This is not the time to be buying Dollar. On the contrary this is the time to sell.