Crude is at a key trading point. Given the overall bearish tone on the oil market I'm suspecting we might see a short squeeze before moving lower longer term. Week target is $49.10 with a low capped around $45 per barrel. Lets see what the week brings! Note: All ideas shared here are for learning and understanding purposes only. Any trade taken on this...
Easy break through zone for silver where cloud made a thin area to break, Caution though, simple breaks like these do not provide strong data on whether to continue long or short. CTF bouncing on lowest level and testing its strength against trend lines be ready for anything. --------------------------------------------- CTF - SILVER -No Trade action until...
A higher high gives confirmation for this entry
Hedge the Wedge Looking for a nice short here
As you can see we saw a bounce at the 0.382 fib level. In order for the price to proceed to higher highs gold must retrace itself and this was a healthy pullback. Target should be 1300
The daily as well as the strong support in 2050-2100 area provide strong indication. Sidelining until a decision, which will most likely be depending on the question if bitcoin (chart in comments) can breakup.
After predicting a move higher over the weekend but not listening to my instinct at this crucial moment yesterday, when I reversed my position from long to short, I will be sitting on my hands until I can determine what the smart money intends to do with the longer term. We saw a nasty bear trap on the TL bounce as indicated on the chart, and with the lack of...
The price has return to the new support line I drew, crossing triangle resistance line (blue). I was hoping that this line will stand, but it hasn't. So the main point of this chart for me is this big white bullish candle. It has long lower shadow. What caused it? The RBA interest rate decision to stay at the same level as earlier (2%). Before announcing this,...
The bears took initiative on the white candle on the chart with large volume. There wasn't follow up by bulls after it, so there was much more selling. The buyers try to fight today, but they lost (with the help of macroeconomic data). Target of this short is 3.85 I don't think it will go lower, because of new government politics, because of that this...
Last week's price action gave a clear signal that EURUSD is bearish. To start the week, we have an ideal scenario to sell EURUSD. Or at least appears so . 1. The Daily Channel/Trendline dating back the middle of May, has been broken, and price is consolidating just below. 2. Previous strong support from the beginning of September at 1.1086, also broken and...
In my opinion bears are trapped in momentum breakout. But the big boys are looking to take it higher. This bear trap is valid till the low @ 1833 is taken out completely. Expected price movements are blue (80% probable) & red (60% probable).
Price has produced a bullish day close with a powerful beartrap completed at key level of 2014 high. Price is ready for furthur upmove.
I admit there a possibility that this is actually a descending triangle, but the idea of falling wedge looks so attractive that I'm willing to remain biased towards it. I guesstimate we will hit 1500CN¥. to bounce hit the ceiling and fall to ~1000CN¥ area, I'm not making suggestions.