This is a 6H chart of the DAX. Markets globally are heading south. Even the super-resilient Brazilian Bovespa is beginning to buckle. In this screencast I show what the price action is like for the DAX and why I think the market is exhausting. I may well be totally wrong - but I'll limit how wrong I am with an acceptable stop-loss.
Three main issues plague the...
China releases white paper, India in the crosshairs, Bank of Australia decision
China has maintained a paused after the US showed trade aggression, apparently, hoping to reach an agreement. Apparently, hopes were not justified. As a result, the so-called “White Paper” was born. The document, which sets out the position of China in order to negotiations with the...
Yen pairs really took a battering last month. However, this month should see a fightback from the yen bears.
Having said this, USDJPY seems to be coming back down to the bottom of it's downtrend channel and a reversal is on the cards.
However, I would be cautious as this pair has come down very strongly forming a very bearish daily/weekly/monthly candle on the...
So this setup for gold is amongst the most straight forward setups, a lot of confirmations coming together at the same point.
Break and retest of trendline
Fib key zone
Previous reversal zone
Touch of a smaller scale trendline
if could be a very nice buy opportunity for gold, and I will definitely be keeping an eye on this setup, provided I get price action, I...
Well, well - I have to thank Mr Trump for breaking the news that he's gonna raise tariffs on China about an hour before the open of the markets last night. The DJI and loads of other markets took a dive. I'm short of course, and trailing a 2H ATR trendline. On open of the markets there was a gap down of about 430 points. Never before have I seen anything like this...
Price is now breaking a very important bullish trendline.
Price has been forming lower highs, and we are trading below the 50MA
Stops are above the 12th October high and behind the 0.2360 level.
Two target levels are previous supply and demand zones where there has been a lot of price consolidation.