The Turkish Lira is at all time lows against the US dollar, partly because of Turkey's economy, macroeconomic policies, politics, and mainly because of the US Dollar which is the strongest currency out there (and yes, it will remain strong). While Turkey is a country with politic problems and an economy that is not growing anymore as it did in the past, the US is...
The weekly chart of EURCAD shows price slightly over value, which has been an usual place for reversals to take place. On the daily chart, there is a class A bearish divergence with 3 no demand bars. Stop above 1.43, first target at the area between 1.35 - 1.36, secomd target around 1.30
The weekly chart currently stands at the neckline of a double top pattern, where it formed a bullish engulfing candle last week. The Force Index has been oversold a few weeks ago, and is now back inside the channel. A bounce is possible. Going to the daily chart, a bounce seems imminent. An almost perfect class A bullish divergence on the MACD lines and histogram...
This pair just keeps going higher and higher, its a mystery to me why anyone would go short. On one side you have the Japanese which pump trillions of yens into the system, and on the other side you have the Americans which are leaning towards a September rate hike. Weekly divergences don't produce any real results, the pair just goes higher and higher, so my...
This is a follow up for my previous chart. I am still a huge bull on the dollar. The rumors about a Greek deal managed to push the Euro lower, a classic buy the rumor sell the fact type of trade. During this correction, the Euro shorts were heavily trimmed according to CFTC. All planets are aligned for a dollar surge. Now that the Greek drama is over, all you...
The weekly chart of the pound does not look bearish, I think the pound is in the process of bottoming, however on a smaller time frame, a short looks attractive. A simple pattern that usually delivers, a double top with a divergence and a false breakout. I believe that the dollar is about to soar again after a long consolidation/decline, depending on what pair is...
I do not trade Bitcoin, however I found that my system works well on it. I posted a chart a while back calling for a short, and that short still stands today. No real progress has been made, there has been a long consolidation period in Bitcoin. I believe that the consolidation period has ended today, and we might see a move. I do not forecast the time it takes...
I am looking to get back in on the dollar bull run. I have posted on Friday a chart on the DXY explaining why I believe this is the end of the correction. Today, I am more certain about it. Here's why : ON the left side the Euro Contract is overbought as you can see on the Force Index which is out of the channel. This is an overbought condition on a trend during...
Just to be clear, I already have a big position in USD built in the last couple of weeks, I didn't buy all the dollars right now, however, this signal is making me buy more. This is an example of timing a trade. These type of setups seldom go wrong, it is the best and the most interesting setup I take. The risk reward is absolutely huge. On the left the weekly...
The divergences on the weekly chart only pulls Facebook back to value, where longs can be established at a good risk/reward ratio. The fact that Facebook just keeps going higher tells me that this stock is strong, and it is a much better idea to have a long, rather than having shorts backed up by those bearish divergences. I would buy and hold this stock, with a...
The weekly chart shows an uptrend after a few years of basing. Price tested support at 1.90 and it looks like a proper rejection. The impulse is green. On the daily chart, today the consolidation triangle got broken. I do not trade triangle breakouts usually, but here I like the weekly chart. We should see this pair over 2.0 in no time.
Two divergences on the daily chart, with a very bullish looking weekly chart makes me think that new multi year highs are probable for this pair. Actually, I think that all yen pairs are starting to look bullish and probably something will happen in the next few weeks. Note that short positions on yen, according to the CFTC, shrinked to the lowest value since the...
This is an example of how I enter trades. These setups provide the best trading opportunities because the risk reward ratio is huge. On the left hand side, the weekly chart. Here there is a H&S pattern, a pattern that I use for long positions. I find it easier to trade this pattern from the long side, because most of them are fake. A bullish divergence was...
A glance at the weekly chart and one thing is obvious. When HD starts trending, it usually lasts for a long time. As highlighted on the daily chart, there is a very long consolidation that took place in 2014. This should provide thrust for further gains. On the daily chart, the Force Index is oversold, and we have a corrective double bottom which, for a stock...
Intel surged on Friday due to talks about taking over Altera Corp. The daily chart is overbought so I would wait for a correction. The weekly chart shows a double bottom at the previous high. Force Index is going back into the channel and the impulse is blue. Not too much to say about this chart, it is simply bullish!
It looks to me as if BBBY is on the verge of making new highs. These couple of months were just a consolidation before going again above 80$. When I bought this stock the weekly chart was standing at value (it still does) and it was oversold on the Force Index (not anymore). My bullish bias still stands. Going to the daily chart, the triangular consolidation is...
The weekly chart is in a clear uptrend. After a bearish divergence, price returned to value, and just got oversold. The high volume week warns of a selling climax (after a very short fall). On the daily chart, there is a double bottom with a false breakout. The doji labeled on the chart has very high volume, a rare occurrence that really adds weight to the doji....
I am very bullish on the Euro and the stock markets. Besides the obvious trades of buying EURUSD(which I have) and buying stock indices(which I have) another trade would be going long EURJPY. I am looking for a correction in the dollar, but not versus the Yen. I think we are going to see a further consolidation on USDJPY as the rising stock markets will keep the...