Doji's on the 1week have been correct 7/7 times. I hope this makes 8/8.
called to long this morning, that turned out awesome. looking for a little pull back at the market close. we'll see how monday mornings news cycle is before extending any positions.
DRK has been following a very basic pattern for the majority of it's breakouts. Please see chart for description. Looking for a little bit of downside pressure before popping over the micro trend.
THE CLASSIC PSYCHOLOGY OF A MARKET CYCLE. WE SEE THESE EMOTIONS THROUGH RETAIL INVESTORS WORLDWIDE. MAKE SURE YOU HAVE 20/20 HINDSIGHT ON GOLD BEFORE YOU GET CAUGHT IN THE HERD. REMEMBER, NO BIAS. @YUNGFINANCE
BULL SCENARIO: BREAKS THOUGH PREVIOUS RESISTANCE AND STARTS BULLWAVE BEAR SCENARIO: BREAKS TRENDLINE AND FALLS BACK INTO ITS REGULAR DOWNTREND
HISTORY WILL CONTINUE TO REPEAT ITSELF IN EVERY ASPECT OF LIFE UNTIL WE BEGIN TO EXPECT IT. FOR SOME REASON, WE HAVE YET TO LEARN OUR LESSON IN THE TECH SECTOR. THIS CHART PROVIDES TWO OF THE GREATEST TECH PUMP AND DUMPS IN THE HISTORY OF TECH STOCKS, NORTEL NETWORKS AND BLACKBERRY. IN THEIR PRIME, THESE COMPANIES WERE KNOWN TO BE THE HOTTEST COMPANIES IN TECH....
ALL CURRENCY PAIRS IN WHICH THE USD IS THE DENOMINATOR HAVE BEEN FOLLOWING A SIMILAR ARC SHAPE SINCE THE 2009 RECESSION. AS WE CAN SEE HERE, JPYUSD, CADUSD HAVE REACHED THEIR PREVIOUS SUPPORT AREAS. ONE CURRENCY PAIR THAT HASNT REACHED ITS PREVIOUS LOW IS THE AUDUSD. ALL MARKETS WORK TOGETHER, THEREFORE I BELIEVE THIS PAIR IS LAGGING COMPARED TO IS RELATIVES....
AUDUSD HAS BEEN FORMING A MONTH-LONG WEDGE, AS WELL AS A DOWNWARD PITCHFORK. AUDUSD IS ABOUT TO INTERACT WITH THE BOTTOM SUPPORT OF THE WEDGE, BOTTOM SUPPORT OF THE PITCHFORK, AS WELL AS HITTING A FIB LINE. IF BOUNCES, LONG, IF BREAKS ALL THREE SUPPORTS, MAJOR WEAKNESS SIGN. CREDIT TO: ICETRADING FOR THE ORIGINAL PITCHFORK CONCEPT.
"WHY YOU SHOULDNT BE WORRIED ABOUT ANOTHER RECESSION, AND WHY YOU SHOULD BE DUMPING YOUR MONEY INTO THE STOCK MARKET RIGHT NOW" "INVEST IN AMERICAN INDICIES, SLEEP FOR 20 YEARS, AND WAKE UP RICH" @YUNGFINANCE
UPCOMING SUPPORT LEVELS FOR EURUSD: 1.07689 1.02866 1.01068 1.00 (PSYCHOLOGICAL BARRIER) 0.96072 ETC. ETC, NEXT FIB SUPPORT AT 1.00, NOT MUCH UPCOMING SUPPORT, EURUSD WILL MOST LIKELY BREAK PARITY (1.00)
USDCAD is currently forming a descending wedge, stalling at a relative double top from 2009's high, hovering around fib resistance, as well as a stalling supertrend (for now). Next moon cycle (March 5th, 2015), might bring forward some volatility to see if the trend continues or reverses. As well, Canada's economy seems to be heating up again, (Rates not changed...
What a spike! Had a go at writeing some trend lines, and I think we may have some good buying oppertunities here!
The price just broke out of the channel downwards, so I decided to go short. I also noticted a MACD crossover.
NOW TELL ME, AM I GETTING BETTER AT SPOTTING PATTERNS OR WHAT! FUCK YEAH!
I'm a TA noob so don't post any mean comments, but I just spotted a rectangle on the USD/JPY 2hour chart, so will we go up or down? ;)