The $USDJPY has been trading inside this triangle formation approx two weeks. In which direction you think $USDJPY will make its break? From a longer term point of view, I'm bearish $USDJPY, but can't it make another upward leg? What do you think? Tomorrow we will probably get the answer
AUD/JPY has been selling in a pattern of lower highs and lower lows on a daily chart since 11/21 and has carved out a channel. The upper trend line of that channel is about to be tested. At first glance the trend line would appear to hold. On the daily chart a “doji” has formed indicating trader indecisiveness and on the four hour chart a brief sell in the...
AUD/CAD continues to fall in a bullish descending triangle that will ultimately result in a sharp move to the upside for AUD/CAD. Within this triangle price is now moving against the trend toward the .97 support/resistance level where price should reverse and head lower. Look for resistance to hold and for the TSI to reverse below its signal lines.
Since 3/19 the Euro has been selling against the CAD in spite of lower oil prices. More Euro buying led to a period of consolidation from 9/4 to where price is now. While price made a new low on 11/24 price now is higher. The 1.4450 level has served as support and resistance on 7/4, 7/23, 10/16, and again today. While price has rallied recently the broader...
The AUD/JPY rally from 10/16 to the 11/21 peak was remarkable but since then price has been selling. From a fundamental stand point both currencies have reasons to weaken however the Japanese have acted more decisively in weakening their currency. Price is now sitting on a potential line of support. Will the bounce come here and send price over 100 and beyond?
$CADJPY going higher after a confirmed hammer and a bullish turn in the stochastic. The broader trend is bullish and after the recent correction prices should go higher from here. The target 101.67 is the fib extension of 08/08 92.74 low, the 9/19 99.80 high, and the 10/16 92.88 low. We'll follow up as the trade matures.
There is prior horizontal support @ .7740. I made the chart 3 day chart so it’s easier to see. The stochastic which is a trailing indicator looks like its thinking about curling up. I am not long but this is looking like the start of a possible reversal
Using unusual volume and Option Expiration Fridays as pivot points to draw out 45 day and 7 day trend line cycles, I'm predicting that TSLA will have a retracement near the $269 price - correlated to the 50% Fibonacci Retracement overlay. I've drawn out a couple of 7-day cycle trends that are not biased validations. Stop Loss price at the previous support of...
Volume is building, and a bullish engulfing candle was formed, which pushed through resistance. The next test will be the .382 fib area @ 65.18 which has been choppy. See noted on the chart. I am looking to purchase calls, this stocks PE ratio is below the sectors average.
Bitcoin price has fallen through all the triangles drawn on this chart - including the big green symmetrical triangle based on the $339.79 low. Bitcoin price failed to reach escape velocity after breaking out of Andrews' Pitchfork and could never break above descending blue price trigger line. At this point, there is the possibility that price falls back into the...
Bitcoin continues its technical breakdown. On the 1-day chart the 50-day EMA has crossed below the 100-day EMA. You'll also notice Bitcoin price has dropped far below the 200-day EMA as well. In addition, Bitcoin has fallen below the Keltner Channels, which is something I had mentioned as a possibility in the past. On Balance Volume (OBV) is at an extremely low...
The Aroon crossover is not a good sign for SPY bulls (if there are any left). While there isn't any negative momentum at the moment the bearish setup many have been talking about may be forming.
(See first part here: ) The third triangle is the black symmetrical triangle. It bears some resemblance to the blue triangle in that price spent quite a bit of time looking as if it might make a run at resistance, but instead falling back toward support. The next element is the Andrews' Pitchfork. Although price broke through the upper parallel line, it has...
Currently the technical indicators for Bitcoin do not look favorable for the price to bounce. Price has been in an upward channel since April of this year. Price, depending on whether it continues to drop and how rapidly, will encounter the bottom of the channel at around $580 or below. Normally, price would move back to the mid-line of the channel. While the...
The Bitcoin price continues to look weak. Volume has generally been light and technical indicators such as MACD continue to decline. I modified this chart from my previous one () in a few ways: 1) Moved the descending portion of the triangle up slightly toward the candle wicks. This lengthened the triangle. I think this better reflected the price action. 2)...
USO continues to form a rising wedge which will ultimately create a larger selloff. Until the larger pattern forms, price's range will tighten in the pattern which is now poised for a selloff. The combination of the spinning top candlestick and the stochastic rolling over will bring lower prices in the near term but not for long as the distance between the...
The moderate rally in gold prices and GLD should not be interpreted as a rally per se but GLD forming a small continuation pattern such as a flag or pennant. The stochastic is in the process or rallying up but lost likely will remain under the vale of 50 as this is more sideways consolidation than rallying. Once this consolidation is complete GLD will make...
In a chart similar to SPY, QQQ has reached trendline resistance and need to consolidate before another leg higher is possible. When prices move quickly vertical they need to take a moment and "cool off" before another wave of buyers can move in and push prices higher. A candlestick pattern detailing the selloff hasn't appeared yet as price is still higher but...