There is no surprise that Palladium has currently found weakness after hitting a round number following a strong surge in price. With every big move, we can expect to see exhaustion in the market before a continuation in the trend. Price first made contact with the $2,500 round number on January 17th and has since pulled back. The recent pattern of breakouts and...
JD Sports has a good history of trending well as we saw from the trend between December 2018 to May 2019. Price became exhausted and went into consolidation from May 2019 to September 2019 and the breakout in September was the first indication of further trends to come, which is what we are currently experiencing. This has not been the neatest of trends but...
The S&P 500 is going from strength to strength, continuing to create new all-time highs since the beginning of 2020. After breaking out of consolidation on the 28th October 2019, price has formed a nice linear bullish trend. This Index has a good history of forming strong linear trends as we have seen in the recent past from December 2018 to May 2019. Some...
Palladium has gone on to shatter records performing a steep climb over the past couple of weeks but will the rise be over as fast as it started? The chart clearly shows the clean breakouts following clean pullbacks in Palladium over the last year and each breakout has resulted in a nice trend. The most recent breakout has been the strongest yet in its recent...
The behaviour of Gold has been consistent over the past couple of years where we have seen trends followed by consolidation periods. The most recent breakout of consolidation on the 6th January 2020, saw price sharply rise to a height of $1.611 but that was short-lived. Price re-entered the consolidation zone and things were not looking good for Gold as its rival...
Following on from the previous Gold post, you would have seen that we mentioned that price was approaching major resistance at $1,557 which was from the high of 4th September 2019. On the 6th January 2020 price eventually broke through this resistance level confirming a continuation to the upside. Price also broke out of consolidation and what tends to happen...
On 17th December 2019, price made an attempt at breaking the $2,000 major round number and failed. From that date through to the end of 2019, it was unclear whether Palladium would exceed $2,000. We prefer to wait for breakouts and avoid trying to guess what price will do next. On 6th January 2020, price broke and closed above $2,000 creating new historical highs...
At the moment Gold is still in consolidation but taking a closer look we can see that price is looking strong and finding its footing at a support base. If we look at the support base formed in April/May 2019, we can identify the trend that followed which saw a 22% rise in the price of Gold. After big moves we usually see exhaustion in the market and in the case...
Following the UK elections on the 12th December 2019, the British Pound showed some strength and tried to battle it out with the Euro. Price managed to push itself down through major support at 0.8297 and things looked positive for the Pound. It wasn’t too long before the market corrected itself and the Pound and the Euro were balanced again and now price has...
AUDUSD Neutral Idea On high time frames we can see that AU is very bearish and is currently approaching a key resistance level around 0.69250 which is also a daily 61.8% fib level I would like to see how price action reacts at this level before making a move. Ideally for a long setup we would like to see resistance broken and retested as support If we are to...
If price can climb another 60 points and go beyond the $2,000 mark then it would be creating new record highs for this commodity, which in 2016 was only priced as low as $454. It has travelled some way since then to where it is now and that journey has not been the smoothest. After the smooth linear trend from August 2018 to March 2019, price took a turn and...
The overall structure of the Dow Jones 30 looks positive. The most recent pullback came down and tagged the support level from the consolidation resistance and bounced off from that level. After periods of consolidation, it is always good to see price retest support levels as it confirms the support level is holding and gives more strength to the buyers. Now what...
Gold appears to be repeating its behaviour from earlier this year. From 20th February to 19th June 2019, price was in consolidation and used the base of the consolidation zone as support and then formed a strong uptrend which rose by 22%. If we bring our attention to the current consolidation, the pattern looks very similar to the consolidation period mentioned...
Apple continues to perform well, despite being range-bound for 4 months between May and September 2019. Prior to the consolidation, we saw a rise of 52% from the beginning of the year. After such strong rallies, it is not unusual for price to slow down or pull back sharply as there would be exhaustion amongst the buyers. A deep pullback or long period of...
rally up to 2day vwap, fail and short below 1day vwap.
4 Previous touches on that trend line, and now some bullish candles appearing. I bet a lot of people are wanting to join in right about now. And if you are tempted would your stop loss not be where I have put the trade prediction? Well if I can see that, big banks and institutional traders who get paid a lot more than me can see it. Apples for the taking (I...
NU Short idea This pair has been holding a steady bearish trend on high time-frames. At the current level we have seen multiple rejections from the major resistance zone & daily 38.2% fib level around 0.64400 which means that a strong bearish move could be imminent. For us to have enough confirmation we always look for bearish setups but in this scenario there...
rally up in the morning, fail and short on the way down below 1day VWAP.