In the screencast, I show that there are still opportunities in various directions which are time frame specific. It all depends on what is your affordable controlled loss (aka stop loss). My bias is for the south on a 4H time frame, based on price instability and some resistance on higher time frames.
I outline why on this 2H time frame the greater probability for the Nikkei is for the south. How far south is another issue. No predictions - as usual.
WHATS UP EVERYBODY! Happy Wednesday traders (: Heres a fresh markup on USD/CAD. Currently live in this trade and definitely wanted to update my Tradingview family on what Im seeing with this pair. Hope this helps at least 1 person out! Leave a like and comment if it did! Also follow me on the GRAM FOR MORE! (: IG: @issdrake
In this screencast I say that the recent weekly price action in Wall Street is a correction in a bear market. Price has moved into a critical zone and is struggling to stay afloat. This does not mean that it is bound to collapse. It means that price can probably move south.
I explore what appears to be a head and shoulders pattern in GBPNZD on 2H time frame. No predictions, as usual. Some people are going long and others can go short.
USDJPY is showing favourable trend changes on 30min to 4H time frames. I'm short on 2H.
The Indian stock market is not one I usually see talked about on Tradingview. However, it has been ripening for a short over the last few weeks. Markets decide their own course. Generally though the India50 appears to be weakening.
I'm short on AUDNZD from a higher time frame. The 2H picture is an amazing one that will test many, as there is an amazing level of horizontal resistance. My personal bias is for the south from a higher time frame. It would be interesting to see what the trading community thinks about this one. Do drop a few lines. :)
I'm being asked by people (I didn't say on Tradingview), "Where is the pound going?" This is the wrong question and I explain why. 'The pound (sterling)' is not simply GBPUSD. In the screencast I show opportunities on different time frames. Overall I conclude that (at this point in time), most significant trends are pointing for the south. That doesn't mean that...
In this video update, we take a look at the Dax (Ger30) index as price has stalled at a key weekly resistance level. With growing concerns over the economic slowdown in the Eurozone, the indexes could suffer. Dax 4hr chart shows price changing cycle which could lead to further downside.
This is a quick multi-timeframe overview of NZDUSD. NZD pairs are well known to be very volatile.
In the screencast I show hard evidence from the chart refuting media reports which say that a bull market on Wall Street is back. This evidence is available to everybody. There has been a bull rebellion over the lat 4 weeks but that doesn't mean that this is a bull market - at all! If you're a forex trader or stock trader this is important. Why because what...
Explaining why I took this position
This is a follow up. I'm watching some fall off in momentum on AUDCAD from daily down to 4H time frames. On the weekly time frame price has moved into an investor zone and is struggling. At this point in time I assess probability as greater for the south between 1D to 4H time frames. The markets may well prove me wrong. For every probability in one direction...
I'm looking at a possible triple top on EURAUD on the 3D time frame. I do this because I'm looking for position and then to trail down on a lower time frame. There is some weakening of the 3D time frame trend and the critical zone at the peak probably creates a greater probability for the south.
I assess the probability as for the south on GBPNZD. How far south is another problem, for me at least, as me crystal ball broke a long time ago. :)
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 overview what are some of the possibilities and probabilities over the next few weeks for Wall Street. I compare again the current situation with that of around 2008. Preliminary action on small time frames on Weekend Wall Street, do not look exciting for a trip north on Monday. We shall have to wait and see, as Mr Trump often says. I do not know what's...