Neutral bias on Gold at the moment, after respecting the break of a descending trend line & rejecting higher prices for 2 weeks we finally saw strong bullish momentum on Friday that broke back above the trend line.
Now we are anticipating one of the two scenarios marked on the chart to play out.
Scenario 1: Price will break above the nearby resistance zone &...
The first time I've actually looked at Oil but let's see how this goes, as the structure corresponds with fib levels it would be interesting to enter a short indicated by the first green line, a long wick candlestick previously reached this region before a reversal, if Oil can break below I think there is potential to hit the following green lines. Market...
EURUSD has presented different opportunities and conflicting signals. 'Everybody' wants to know which way it is going. This is the wrong question.
In this screencast I show different opportunities relative to trends on different time frames. Where price is going, depends heavily on which time frame trend you're stalking - and whether you'r willing to take a...
There is a visible broadening wedge pattern better seen on the 1H time frame of Wall Street. It is basically a megaphone in a horizontal direction.
There are probabilities for both the south and the north. Guesstimated ranges of price are shown - but this is not a prediction, as I do not know the future.
The markets can do as they like and 'disobey' any...
The big picture on USDCAD is useful to get an idea of what may be probabilities on lower time frames. There are some unusual goings on at a 1D time frame, one I've never seen before.
So, I'm stalking this one closely for a trend change.
I was long on UKOIL on a lower time frame, as there were early indications that it could be heading north. My trend following assessments then changed, as the picture unfolded. I decided to bail out just in time for no loss.
I don't care if it now jumps north. At this point in time - based on what I see - I now think the probability for the daily time frame is...
Goldman Sachs has stumbled and now there is much debate out there about what next to do. As usual some are shouting "enter long now", whilst others are saying "stay out" etc.
For me, it's very simple i.e. I just need to wait on a favourable time frame, somewhere between 2 - 6 hourly if I'm to go north. It's difficult to go short as there could be a rebellion of...
I'm not entering long or short on this time frame. I explain why. I could well be wrong as I am around 60 to 70% of the time.
I may look for a trend on a lower time frame that is favourable, but I'm not hunting for one as I have enough positions open at the moment.
EURAUD is a pair that from my experience has many surprises. This is just based on long experience of understanding the 'personality' of this pair.
I also know that there is a probable move south on stockmarkets which the Aussie tends to follow. The EURO took a beating last week, so punters are likely to try for a 'good deal'. So if both happen, EURAUD has some...
It's not looking good for Bitcoin on the bigger daily trend. Yes my opinion changes but that's only because I'm seeing new things happening - and my perspectives are different on different time frames.
I've decided to wait.
Last post: June 10th. See chart.
Review:Price was approaching the area of resistance.
Update: Price has hit the resistance level but has since started to head down.
Conclusion: We need to stand aside and be patient until price can break through the resistance level.
Any comments or questions, do not hesitate to leave them below. Give us the thumbs up if you...
The point of the vertical white line is the 1.618 price and time zone of the next wave. If this is another corrective wave we can expect that area to be the top. If this is an impulse (subwaves of a larger wave 1) then we will still have a pull back (subwave 4) before going past the potential 'C' point. I'm afraid that until this 7900 region is tested it's quite...
Price reached the highs of September 017 forming a double top, here we could see a reversal but weak USD data means that it won’t be as straightforward as we may have thought. I will keep an eye on this pair
Currently right on top of a major swing support level. We could see some continuation to the down side, seeing at there was a fair bit of Yen strength las week, or maybe this pair is exhausted it's sell power and we may see some stops being hit and positions being closed and some Bullish candlestick patterns to get into a long trade? Anything is possible at this juncture.
OBSERVATION: After hitting monthly resistance price fell to daily support which confluences with the ascending trendline that has been acting as support since June. A break below could see price drop to 0.74400s then 0.73400s while a bounce will see prices rise back to resistance.