MMM has periods where it trends really well. But this year there have been two deep pullbacks which would've stopped most trend traders out of their buy positions. Since price broke above the September pivot high the candles have not been overly convincing. There was a gap up on 31st October but it was a doji, followed by a gravestone doji, which did not inspire...
SRE has been a good long opportunity since breaking above the $72 zone. On the weekly chart the 50ma has acted as support throughout the trend. While the pullbacks on the weekly have all been within the normal parameters they have been a little more cumbersome to trade on the daily chart. The last two deep pullbacks both dropped to test the 200ma and figure 100...
Some Bearish signals are lining up for the US Dollar Index. What do you see? Would like to see some comments/opinions. Thanks. Happy Trading.
Right now the market has been unable stay above 476 very well. There are many other indicators that are getting bearish as well. The one thing I was noticing when the candle was about to close was that it was on the edge of shooting star and doji. It ended at a gravestone Doji (almost) which means it closed and opened around the low. What this suggests based upon...
The 50 support has held up before and today's close may indicate that it won't breakout short. I think the best the bulls can get now is a trading range while the bears may begin to cover at support (50). There has been very little buying pressure for the past month. Longs also resisted 68-70. Shorts (which have ruled for a month) are indecisive based on the doji...
As I point out in the chart, MRK is in a very tight consolidation here. With the RSI holding inside of bullish territory after it's recent bounce off the 150EMA it has run into previous resistance. This resistance coincides with a sort of ascending triangle based on the higher-lows it has been making since March '14. This pattern comes to us after a long run up...
GBPUSD is in the midst of an uptrend, but has pulled back to a major trendline where it is forming a doji candlestick pattern. We also find a previously established horizontal support level and the 50 SMA in the close vicinity. As such, I think now is a good time to enter, as this might be a level bulls will step in to defend. I've set my entry to 6685 with my...
Looking at the EUR vs CAD on the daily time frame we can notice two days of indecision for the pair since the bearish fall from prior resistance at 1.53019. The indecision is noted with the two doji's formed at the support level at 1.49114. Doji candlesticks represent indecision as neither bears or bulls control the market. Prior to the doji at support the market...
From the beginning of the year gold was in uptrend from $1179 to $1392 (around 20%) then sold off from highs but found some buying support $1268-$1278 (around 50%-61.8%). ENTRY: This pullback is still controlled and with this 1) doji candle bounced off from support zone it gives me entry with tier1 then 2) I will add if it will hold above moving averages...
Looking at the AUD VS JPY we see price stalling at support @ 95.151 as price has formed a doji candle stating indecision and stalling momentum. Look for a close above the doji candle to enter a long position. If price forms a lower close then we know we are wrong and we do not enter a trade. Keep in mind that a doji candle is not a reversal signal but rather...