WFC has been unable to gain 50.5-51 resistance for months now, and the chart may indicate that it is time to retest lower. the last weekly level retest was 44.59, which bounced strongly and reversed. if 46.6 is lost, we should look towards 43.2 for next support test. Lower still is 41.65 and 38.03 as well as others, but these levels may not apply for some time
Technical analysis of BAC's chart indicates strong levels of resistance at 18, and 15.25, the latter of which has just seen a completed double top in the past few weeks This indicates that we should break lows and test lower, 9.9 and 8.27 (more significant) supports are supports we could test. let me know what you think
Above shows an overview of the previous 3 years of the EUR/JPY. Above i have highlighted what i believe are a few key support levels in watching the meltdown of the EUR/JPY. The market has been consistently bearish for the past 12 months, and after the break of 120.00 we have seen a further decline to around 119.00. I believe once we see a break of the previous...
GBP/JPY - 3 year lows and 2016 support level currently being tested. Expecting a bounce from support and to hit targets as shown above. Will wait for confirmation before entering a trade. If this pair breaks the support level, i expect to see huge bearish movements throughout next week. Will look to see how this one opens next week before entering a trade.
thanks to quit bad data coming from the us , spx has finally breack from it's range to give us quit a perfect short . So whatto do now ? looking for some profit taking in the market to give us the opportunity to reenter short on the market . Because now that pa has closed below the ma on the daily we will be lloking for it to to sustain a pull back to confirm a...
AudUsd has broken above weekly trendline down and it is acting as support now (blue line on the chart) We see some kind of closing wedge pattern emerge above this support The pair rejected the lows of 0.70 a couple of times, and is supported below by red trendline now Resistance here comes from 50 and 100SMA, but these should be broken to the upside soon and the...
Monthly trendline up from 2002 lows comes in at around 7! Monthly trendline down has been broken to the upside and has held But fibonacci expansion 0.61.8% from last two moves up are both just below 14 If price breaks below 13.8 again we may see 100% fibonacci expansion level from last move - at least! This is just above 12 So: buy between 14 and 10.5 (100%...
If it breaks this Lows it will be a big Selling Trade!!
Gold has been bearish for a long time now and is showing now signs of reversing just yet. We recently broke the lows of 1082 before retesting but price has stalled around this area. Today we finally saw the bears take hold and dive the commodity lower. We need to tread carefully given the Fed announcement on Wednesday but as it stands this is head...
Rusian MICEX index, measured in US dollars is on risk of another severe breakdown. Price is now currently trading at a key level - converged lower 1st standard deviations from 1-year and quarterly means (@ 24.75) If the level is taken out, price will be open to fall to its relevant lows @ 23 and If those are broken down, next target would be 18.5 - the 2014...
Natural gas is trading sideways within 1st standard deviation on quarterly basis (in relation to 66-day mean) since May 2015. This creates good trading opportunities for those who know how to deal with the lateral chop in the markets. Within compressing volatility (measure by 3.2 st deviations from the same mean), traders can pick longs and shorts toward the...
EURUSD has been trading laterally since mid-Arpil 2015, with price staying within the 1st standard deviation from its quarterly (66-day) moving average. Currently there is apparent risk of breakdown: the price fell to the lower 1st standard deviation from the quarterly from within amid expanding volatility, measured by 3.2 st deviations from the same mean. If...
Confluences: 1/ Trend 2/ Pin bar ( undecision - continuation? ) 3/ 0.74 level used as resistance 4/ Fundamentally very weak AUD against the strong USD
I wanted to share this trade idea because its a great example of how to manage your trades once the market moves in your favor. Notice that since I got in a big hurry to get in this trade, my entry, while decent, could have been much better. If I had just waited a few more days with a nice limit order sitting on the red sliding parallel, then I would have had...