On Monday, the 16th, I sold most of my dollar longs. The reasoning was that the Friday momentum was lost on Monday, combined with the selling climax the week before and a personal scenario that the removal of patience would be a case of buy the rumor sell the fact, which proved right. On the 18th, I have sold all my dollar longs, and shorted the dollar. What...
I outlined a while back that I believe BTC is going down to the last swing low. My timing was not good, but my bias still stands today, as there was no bullish reversal in my opinion. Finally the chart started breaking down and the impulse turned red. Please see the older chart for further explanations.
I do not know about the fundamentals of this stock which are supposed to be fantastic according to journalists, but I know that at the moment Alibaba looks very bullish. After going below the all time low a great comeback occurred and BABA closed up, with a very bullish candle. This is good enough for me, and I bought yesterday on the close.
A series of contradictions occur on Wal-Mart. On the weekly chart, price stands at the Wave, but has not tested the strong support at 80$. The impulse is still red, and the Force Index is not yet in an oversold condition. Looking at the daily, the situation looks better here. There is a false breakout below the last swing low, and it looks like this area could...
Bitcoin has been going down for a long time and people are still talking about what a marvelous invention bitcoin is. I am no expert in the fundamentals of bitcoin, but I know that this is a clear downtrend, and one should look for opportunities to sell. Whenever bitcoin goes back to the wave, it is time to sell. Look at overbouught conditions on the Force Index,...
Yesterday, Bank of Israel cut rates again, joining the rates war that has been going on. I outlined on the weekly chart what happened last time when there was a rate cut in Israel. I don't think this time we will see such a strong rally, but I think a test of at least 4.1 is likely. I entered long on the close yesterday, and I believe that every dip on the H4...
This pair is absolutely screaming BUY! It is not very often that I see such a confluence between the weekly and the daily chart. I am heavily long this pair and after 1.08 gets broken I think that every dip will be a buying opportunity. There is not much for me to say, the chart is extremely bullish.
Bottoms do not look like this. In the immediate future there are three possibilities for oil, either up, down or sideways. Isn't this insightful? But, on the longer term, more than a couple of weeks, I see oil going either down or sideways, in no case up. A bottom occurs when you see sideways action, false breakouts, divergences, V-bottoms are very rare and I...
Nope, probably not. The weekly chart on the left shows a nasty topping pattern, a weird H&S. However, the bearish picture is not sustainable, as the indicators are very oversold, while we are still in an uptrend. Climatic action on the Force Index, climactic volume for the previous week on the volume bar. Price also stands at an important support area, and the...
A divergence in the direction of the major trend. No target for now, I explained on the chart why.
Looking at the weekly chart, price is standing at value with a very oversold Force Index. The impulse is still red, but the daily chart shows a possible reversal. On the daily chart, we have a very strong close after a false breakout below the strong support at 45$. There are two ways of making this trade (with my system of course). Either buy now which is...
After a crazy ride, GBPJPY declined to value, where a reasonable long can be initiated. Until this pair will break strongly, this is still an uptrend and only long positions should be taken unless there are clear bearish signals combined with an over extended price. It is not the case right now, both the daily and the weekly charts are in line, and they are both...
Whenever the market makes a retracement, it is time to buy. This is the way the stock market has been acting for the last years. 'This is an artificial market', "We will repeat 2008", 'P/E ratios are too high' and all that nonsense pushed this market higher and higher. Oversold readings of Force Index have made perfect entries in this bull market. The arrows...
I explained my view on Gold on the chart. At this point, I believe that the only way to trade gold is from the short side. Bullish signals that fail to attract buying are the most bearish signals you can get, and vice-versa. However, people tend to trade a bullish/bearish divergence after it has failed or materialized, hence the misconception that most divergences...
The weekly picture is explained on the chart. The daily chart will be explained here. The yen went through a period of consolidation, and on Friday, the consolidation ended. If I will see a close below 117, I will liquidate my position because clearly I was wrong. Price should not go to 117 in order for me to be right. I first bought this pair on the double...
The weekly chart is the main reason for my bullish bias. Last week, Microsoft had the earnings call and obviously the results were disappointing. However, the day opened with a huge gap and most of the selling had been done overnight. Price reached an extremely oversold position in a matter of days. This week however, the threatening picture of the previous week...
Weekly chart is very young so it doesn't say anything to me On the daily chart there is a failed head and shoulders pattern that attracted heavy selling as shown on the Weis Wave. I find failed H&S easier to trade than real H&S, and I see this stock going up at least to 40$ per share. The impulse is green.
Looking at the weekly chart first, I see reason to be extremely bullish, and I've been having this bias for a few weeks. There is a corrective double bottom, a consolidation that should push the price of this stock to all time highs. Last week's candle is the most interesting one on the chart ; it's a massive rejection of the bottom formed at 500. The impulse is...