A buy stop order has been set in $LLY at 116.60 following the formation of a VCP pattern within a very tight base.
Initially looking for a 2:1 risk-reward.
These are exciting times with NZDUSD - in fact all NZD pairs hold excitement around now.
In the screencast I'm stalking the Fib 50 - 61.8% looking for the first sign of move south. Of course it could go north by any amount. However, I think there could be difficulty in that area.
The ETHUSD pair continues to struggle for direction, despite short-term buyers holding price above the symmetrical triangle pattern. Upside momentum is still lacking for Ethereum, as the broader cryptocurrency market struggles in a low volume trading environment. Buyers will need to move price above $242.00 to accelerate buying, while short-term sellers will aim ...
In this screencast I start with GBPJPY 1h. This is where scalpers would be playing mostly.
In the video I show that to get the big picture one has to look at higher time frames.
The euro has tumbled to a fresh monthly low against the US dollar on Monday, as fears over emerging market contagion cause traders to sell the single currency.
The EURUSD pair is likely to remain under heavy intraday selling pressure while trading below the 1.1420 level.
Sellers will now look to break below the 1.1310 support level, while buyers need to stabilise ...
The British pound trades to the downside against the US Dollar in early Tuesday, as bearish technicals and a possible Brexit no-deal, continue to hurt the British pound sentiment.
The GBPUSD pair is strongly bearish while trading below the 1.2955 level, as it represents a large head and shoulders pattern neckline. Buyers will attempt to push price above the ...
The British pound continues to trade towards the 1.3100 level against the US Dollar, after being sold aggressively from the 1.3170 region on Tuesday. The GBPUSD pair looks to be forming a bearish head and shoulder pattern, with a downside projection of around one-hundred and thirty pips. Sellers will target the head and shoulders neckline around the 1.3070 level, ...
The euro currency is starting to weaken below the 1.1700 level against the US dollar, after a false technical breakout above the well-defined symmetrical triangle pattern on Tuesday. EURUSD traders need to see a clear-break of the triangle pattern to encourage a much needed directional breakout in the pair. Buyers need to break the 1.1730 resistance level, while ...
A bullish divergence pattern is forming with RSI and MACD showing possible reversal of trend. A break of the descending channel on 4H chart will confirm this.
In this video, I review some evidence available to everybody. I spot some behaviour patterns of Bitcoin over the years.
The evidence to date is that it refuses to die - at each stage when people shouted "Crash!" or "Tulip!".
I'm not saying that Bitcoin will not die. That's none of my business as a trader. My business is to assess evidence, see patterns and ...
There is a resistance ledge that seems to be failing on the weekly time frame of the US30.
Why do I think it's failing? I see three candle wicks in the ledge, which informs me that there is serious bear pressure in what is a bear market (at this time). Am I saying it is going to fail and go south? No - I'm not saying that.
What I am saying is that the greater ...
Wall street and many other stock indices are at critical positions.
In this video I drill into the action today, from the monthly down into the 5 min time frame, approaching end of the day's session.
The GER30 is in a critical position and fighting hard to stay afloat. It rules the world.
In general the GER30 does not like a strong EURUSD. And the US30 does ...
Butterfly completed nicely. Green box indicates .382 1st target which coincides with major structure area. Might be an area to look for long opportunities if we see bullish signs.
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