The oil chart has had bearish overtones for a while now, and despite feeble attempts by the bulls to drive price above the highest volume node at 46.24, it seems like bears are winning in this juncture. I'd place a couple of entries here, looking to capture the downside move. It's possible, once the 2nd order is triggered, that we get a 55% chance of hitting...
Possible short trade idea with a stop @ 15.12+spread
This is a long term trade idea so the price must have 2 daily closing below that entry point of 15353
NZDUSD - Long with Correlated Commodities Chart explain itself.
Waiting 884 to break to enter long on platinum for long term
1. Divergence price/momentum with oversold RSI 2. Trend line break 3. Missed daily & weekly pivots above the price Go long at this level targeting: 1. Short term - missed daily pivot 2. Longer term - missed weekly pivot SL goes below the recent low
Target on chart, you can see how the different time at mode signals work together to give us a good idea of where price is headed. I'll place my short orders now, hopefully I get a fill before it's too late. A retracement here would be terrific. Good luck, Ivan.
Nikkei is consolidating forming a bell curve, if you look at the profile shape from the low. The weekly downtrend that fired in August has now expired, which means there's a possibility that price goes up to retest the downtrend mode. I see this as improbable and would suggest looking for shorts once the targets on chart are hit, or the low volume resistance zones...
We have an interesting technical setup in gold, might start moving today with the US GDP news. Anything under 1143.26 is a buy, as long as above 1129.87. Aim for a retest of the high at 1156.65 initially, then for target #2 we can look to take some profits at 1170-1176, and for target #3 we get a lower probability move to 1220.38. You can split the entry in 3...
If price closes without retesting the mode, we might see a steep decline ensue. Entry is at market (below the previous daily low), and the stop loss at the mode. Good luck! Ivan.
Had a few requests to share my chart setup, so feel free to make this chart yours and save the template. Indicators used: 1) Ichimoku to get an idea of general trend direction and key support/resistance levels. 2) Directional Movement Index to get an idea about trend strength. 3) Candlestick pattern indicator (hammers, etc.) for confirmation. Tbh, you don't...
The Economic recovery in the west is important especially with weakening demand in Europe and a fragile US recovery dependent on consumer spending and business confidence. Oil at $40 a barrel will be a welcome relief, even $30 a barrel is not unreasonable seeing in 2002 that was where Oil sat. Frankly $100 a barrel was too much.
Silver already broke out of its daily downtrend line. For more than a month, it has been building a daily bottom but still couldn't really breakout of the 16.5 resistance zone. On its way, it must pass the 16.2 minor resistance zone. 17.5 and 19 are my extended target levels for the potential bullish move.
Although there is naked structure of resistance and no confluence, I would like to see some bearish divergence on the RSI to confirm this pattern reversal. Nasdaq have been bullish quite sometime and it is indeed due for pullback to catch a breathe.. This pattern could very well confirm that. Looking to take a target no more than previous resistance now turn...
US30 longterm outlook on the weekly chart. Bearish butterfly. Strong support around 14023 on the X leg. Target 1 will be at 14436 at the 23% fib level. if the bears can break structure on X, then roll stops and look forward to target 2 at 12841 on the 38% fib level. Trade at your own risk.