After a bullish breakout of trend line resistance, the sterling traded side ways forming a pattern know as a head & shoulder. However due to our general bullish bias, we are expecting the trend reversal pattern to be violated and then possibly see new highs @1.29000
Simple trend line break as explained in our last cable post. This pair has now closed above support and trend line in what seems to be a bullish continuation. First expected targets for this trade is @1.26763 D.Willis
As expected, the US general elections spiked Gold well over 500pips in minutes. With the elections now done and dusted, the technical bias of Gold still remains bearish. Looking closely at the charts, we have closed back down below monthly and fibonacci res. With a clear break of temp. counter trend line support, this commodity will most certainely be heading for...
Just last night was the American elections, trust the market maker the move the markets everywhere. Gold leading the pack as it spiked over 500 pips within minutes. Moving forward, we've close back below monthly res. with new lows in sight. The overall target for this pair would be $1210/Ounce however we have minor support @1248 which cannot be ignored. - D.Willis
With all the pound weakness over the past few months, we can safely attempt this simple ABCD setup. We are simply expecting the market to pull back into the willis zone @129- 131 region and collapse downwards. Estimating about 350Pips in decline. However if we break the willis zone region with bullish momentum, this trade idea will become invalid. We'll keep you...
After 6 months of bearish price action on the sterling we now have what we classify as a trend line break out. This simply means we have broken above a certain level of price acting as resistance. This currency can now climb against the USD with an upside target of 1.2900. However this just a medium term bias - D. Willis
Gold, after rallying off 1060 monthly support the instrument set out on somewhat of a medium up term trend.
The market however then ranged into an X-E wave triangle formation which indicates further bullish action. A break of this triangle would lead us back into 1366.65 resistance. Technically, the best to buy!
We have additional long term bearish...
Simple lower swings on the EURUSD with very clear lower highs and lower lows. Willis zone confluence acting as resistance @1.10200 barrier. Clear break of immediate support and bearish engulfing candle close will confirm our bias for further downside.
EURUSD - Very bearish action on the EURUSD since the brexit news hit the markets. EURUSD showing consecutive lower swings giving traders an opportunity to sell the pull backs. Short positions intiated @1.10761 with overall targets @1.0880
After a brief retracement back into monthly resistance, this pair has broken and closed below the 126.500 region. In confluence with the willis zone, this pair is evidently in a downtrend with potential short targets of 119.132.
After the massive rejection at 12400, the GER .30 has been sliding since April and is currently taking a breather. If we stay below Monthly & Trend line Resistance then we have a full proof bearish bias. Lower Lows and Lower highs still indicate we could head lower, a break of the counter trend line would be needed to initiate short positions.