Clearly the strongest trend in fx majors now. The AUD is getting overbought, so another leg down is likely to develop. Is the 0.8 level going to be hit? Well, I don't know, but 0.805 is possible, if bearish momentum grows. ----------- Disclaimer: There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading...
After printing a high earlier in 2014 CPA has been heading down. It found some support at $100 and the weekly 200ma initially but now price has broken below this level. The move on the daily chart, since breaking below recent support and $100, has been quick (with a succession of bearish bars) and price is now approaching the pivot high (from 2012) of $86.50. We...
As always this is just a projection. Looking for an entry in the green zone. Should be able to keep a tight SL. Projecting a BEAR move to approx 1.23592. Might see a slight retracement around 1.2391 to the 4H channel but I remain confident it will push below for a continuation. Thoughts?... Comments?...
In its prominent down trend, price continues to have pronounced consecutive cycles below the 20 ema pushing EUR/USD lower. Today’s bearish reversal bar bumped just shy of a past level, now acting as resistance, at 1.2500, and closes below 20 ema and 0.618 Fibonacci level. If a short trade does not trigger a re-entry can taken at the test of 50 ema and/or...
If you like shorting stock in an overall bull market DRQ offers a good opportunity. It gapped down yesterday on higher volume giving a good signal to take a near-term sell. This stock is already in a solid downtrend, trading below the 200dma. It recently formed a double top in a downtrend, broke recent support and retested it - and now it has gapped down on...
The BTC price has been hugging the recently formed uptrend line a little too close for comfort as we approach the end of an important symmetrical triangle. If it is broken to the downside, the first target is $340, but I would be expecting more downside in that scenario. The triangle has not broken yet, but judging by the low volume, there just don't seem to...
I looked to short RIG last week (28th November) but decided against it due to the shortened Thanksgiving trading week. I am revisiting it today because I think the opportunity has probably passed - for now. Initially the set-up looked good with yesterday's bar being bearish on higher volume - which boded well for a sell position. But then I noticed the low of...
Everyone has a different opinion about the answer to this question. I have learned that any day can be the right day to begin a trade or investment. The real question is how to limit the risk. This goes for Long and Short investments. Why didn't you buy AAPL at $80? Did you think it had jumped too much after the $5 gap up? This gap up was nice for current...
RIG has been bearish since the 2008 high, so with the last bar gapping down on higher volume a near-term sell opportunity looks like a good play. Price had been going mostly sideways, since the end of 2012, offering a strong support at around $38. When this was broken and retested (turning support into resistance) in August/September 2014 a new bear trend began...
There are three reasons why I am not looking to take any new trades today. Yesterday was a bank holiday in the US, today is apparently a half trading day, and finally it's the last trading day of the month. To me this means volatility may be affected and I'd rather stand aside than get whipsawed. However, if I were to take a near-term short opportunity the set up...
If you want to try AAPL Long right here, just use UT 2 (the green uptrend line) as your guide. It could be a short ride but you never know... As long as AAPL is above UT 2, stay the course. But if AAPL closes below UT 2 before you have profits, get out of the trade. Once you have profits you have the ability to make "small adjustments" to trend lines. Just...
Trend lines are a great way to invest. That is only my opinion of coarse. This chart is a 60 minute chart so remember the trend lines may not last as long as those on daily or weekly charts. But horizontal lines of support & resistance can last for a very long time. Take a look at the blue horizontal line. You can see that this $79ish level has been a place...
Let us start by taking a deep breath after a very interesting week considering Bitcoins price action with two major trendlines being tested. It should be strictly noted that the 11-month downtrend is still in play, which a lot of participants seem to forget because they are using linear trends, which I think is inappropriate in markets with such large movements...
I think everyone will be shorting EUR/USD on R1 pivot point today, which converges with a significant resistance level according to price action. Not to mention that 1.2575 has been the R1 pivot two days ago! I will be using a pretty tight stop loss (5 to 10 pips) and will be looking to scale out, should the prediction be confirmed, at: 1.2540: Out 60%. 1.2375:...
For a long-term trade DRN is not a great shorting stock. It closed yesterday at $10.01 so there is not to much further for it to fall. But with the gap down on higher volume a quick short could be on the cards. Price has just managed to close below the 2001 pivot low of $10.20, but remains marginally above the $10 round number and I would've liked to have seen a...
MDRX has been in a messy downtrend for a few weeks so Friday's gap down, on the earnings announcements, did not come as a surprise. As volume was also up there is a good probability that the bear move will continue. However, because the trend is not very neat and because there is support at $8.84 this is a near-term shorting opportunity only. That still gives a...
The over all trend has been down, while on the 4hr charts the trend has been up toward the upper bounds of the daily down trend. The short term 30min chart is showing divergence and lessening momentum, as it approaches the upper bounds of the down trend. This divergence, which is indicating a move down, is a good place to enter short, and ride the larger trend...
I think a test of the 2000 level in china is going to happen quite soon. It seems as if the only buying pressure coming off of the last selloff was from short covering, which is not bullish. Natural buying pressure seems low, but this may change at lower prices. Support at 2150 is strong, but may break soon; the next significant support level is around 2000 yuan....