As $ITI has not exhibited an upward EW pattern before, all we have to go off for a fractal match is to overlay the first and second waves. This gives us a pullback from the current position back the to 61.8% fib (around USD64) and then a further run up to a high of USD96 before falling back again. Of course, as always this depends on the Chinese economy, and now...
iH&S completed into long term resistance trend line Recently broke support so short term we should be heading south. Preference is to buy into 50 levels
Fortescue has gapped down from the daily 150MA on the back of iron ore, may attempt to close the gap then sink again
Fundamentals around Copper, Steel rebar, Iron ore, Coal not looking so rosy currently. Technically Copper HG looking weak. Dec'16 lows could be next resistance at 2.4785 (Approx LME 5500), a further significant break here could see 38.2% Fib area tested (2.3425) then Nov lows of 2.09. Support may be found at 2.5935.
Iron weekly is intermediate bearish. See if it breaks down below the uptrend momentum support to the lower technical support support.
STLD's chart is massively bullish, the same as copper, iron ore futures, AUDUSD, and other correlated instruments. The setup here confirmed some time ago, but it's relevant as an analysis piece now. Most people are bearish on equities but I believe we're seeing the bottom here, or very close. Rising commodity prices seem likely going forward as well, which will...
Some analysis on the chart. Waiting for a juicy pull back to 60-120 MA.
We can enter shorts in any way you prefer here. Stops should be above 18.89, the rest is up to you, can be an options play, or shorting stock. Targets are a retest of 12 initially, but I can see it hitting 7 in the intermediate term. If interested in my trading signals, or in personal tuition, contact me privately. I'm offering a considerable discount on a...
We can go short ENZL at market, and aim for a significantly large target. Stops should be above this week's high (trading range). Expecting to see a sharp decline to ensue here in the intermediate term. If interested in my trading signals, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes...
VALE5's Fibbonachi looks horrible!!!! Projection at R$ 3 pretty soon. Who share this ???
Fundamentally we have the Reserve Bank of Australia with a neutral stance and the Reserve Bank of New Zealand with a neutral stance after the latest rate cut. In fact the NZ CPI Figures are scheduled for this week before we head into the showdown of the RBNZ in the last week of January. I am expecting a drop in NZ CPI Figures of round about -0.5%, while the newest...
Basically due to fundamentals like cheap oil, iron ore, coal and metals like copper. Main consumer worldwide and in this region is China. China's economy is slowing down after years of +7% growth. www.tradingeconomics.com www.tradingeconomics.com One of China's big supplier is Australia. atlas.media.mit.edu Australia's currency devalues with cheap commodities .
My mood is bullish for that Pair. Basically due to fundamentals like cheap oil FX:USOIL , iron ore, coal and metals like copper FX:COPPER . Main consumer worldwide and in this region is China. China's economy is slowing down after years of +7% growth. www.tradingeconomics.com www.tradingeconomics.com One of China's big supplier is Australia....
This is an update to my previous EURAUD chart, I was waiting for a long entry and it just presented itself to me. We have an hourly impulse forming, looks like a 5 wave advance, which could be the first of a new bullish cycle. The daily chart shows a strong mode has been formed and price is about to move above it, after producing a series of strong moves up...
We have interesting evidence, suggesting AUDUSD might be ready for a reversal from this level. The selloff has been intense, but price only completed a 0.786 retracement of the advance, which matches the daily mode that originated said uptrend. The downtrend generated a 4 bar target that has reached and exceeded the projected level, and is flashing a buy signal...
Now that FOMC is past, it's time for me to return to bread and butter trades, and these ordinarily are in TLT/TBT and the index ETF's -- SPY, IWM, DIA, and QQQ. Currently, TLT IVR (implied volatility rank) is 42. Although it isn't anything to write home about, TLT (or its inverse, TBT) is one of my bread and butter trades, and I'll put a trade on 25-45 DTE...