Overall bullish because of QE and I see a potential inverse head and shoulders pattern. Any thoughts welcome.
We are sitting on a prior consolidation level (230-235). These are the possible outcomes: 235 holds, we break up, inverse H&S resolves, target 280-290 235 breaks resulting in a meassured move down to 180 Last time market retested such a major consolidation level from above, OBV was in a downtrend, thus price continued the downtrend. Rightnow we have a...
The Euro looks bearish here along with oil. It has been in a macro downtrend or downward parallel channel since 7/08' which only accelerated the downtrend in 9/14' with the accompanying rising dollar and falling oil prices which the rising dollar is inverse with most currencies and oil. Right now.......the Euro is consolidating along w/ Oil & USD. When USD starts...
Impulse leg XA followed by AB=CD correction into 0.786 level. Typical Gartley pattern. Expect a bullish resolution the next days. 1. Target 262 is very likely 2. Target 275 becomes likely after break of yellow neckline Stop Loss bellow the current double bottom at 235 Don't go all in 50x on this one, though. Cheerz : ]
PRICE STUCK IN A RANGE. BASIC SETTUP (BUY AT SUPPORT, SELL AT RESISTANCE)
Price bounced off the 0.236 fib several times forming a evening star and then several bearish pinbar candlestick patterns in a row. This is indicating selling pressure, we could see price advance to the downside soon. My preference is a rally up to the 0.5 fib in confluence with some structure but advancing up to that level is looking less likely. RBA meeting on...
Textbook setup. 3rd touch on the trendline, Bearish inverse hammer/pinbar bouncing off previous support turned resistance. first target at 45.00
inverse hammer off the 0.500 fib. FOMC meeting tomorrow and im expecting the FED to have the same tone as the last meeting and remain hawkish looking to raise interest rates in 2015. if this happens we will mainly see eurusd and audusd advance lower.
Many reasons could impact oil prices around the Christmas holiday. I'm going to biult position tomorrow at open. My strategy also utilizes a concept known as scaling in, which allowme to increase my position size as the trade becomes more attractive
1) Strong underlying uptrend. 2) Recent triangle breakout and came back to support 3) Inverse head and shoulders pattern 4) Oversold stochastics All 3 point to upwards movement
**UPDATE** **WE ARE NOW IN A DOWNTREND** See: With more information I can say that the green triangle was already the (short) uptrend after the inverse head & shoulders completed the right shoulder. Because we broke through the neckline at 600 US Dollar, when Bolivia announced that they ban Bitcoin and meanwhile Bitcoin exchanges like BTC-E and Bitfinex have...
Precious Metals And Mining Trust on the TSX Break Out Point @ $3.50. First target $5.00
Looks like an inverse head and shoulders pattern. if it continues up could be a nice rally, otherwise it fails and comes down quick.