AUD/USD has pulled back to key weekly support. I see prices driving higher over the next week or so. As it stands, the monthly candle is a strong bullish candle and the dollar is losing steam, which supports my bias
JUST BUY AND WAIT 73 STOP SELL IF BREAKOUT RED TRENDLINE
The idea is on the chart Perfect entry point would be 53.3x area Stop 53.6 Target 49.2x (C of 5 = 1.618 A of 5)
USD/JPY has been capped at the 61.8% Fibonacci retracement after a nice rally and now stands in this ascending channel. This pair has been making lower highs and lower lows so is in a technical downtrend, alongside trading in this descending channel. If prices break this channel I will go short and target the monthly support at 111.50.
WTI has been capped at the 61.8 fib level confluent with support for the 4th time, we can expect lower prices. I am watching price action for short opportunities
RSI trending down, it has yet to be reflected in the price. I doubled down on my short friday when the price peaked, and the OPEC meeting hasn't change my mind. IMO the OPEC news was already priced in with oils run to $55, and until I see some solid statistics from OPEC and not just a bunch of words, my mind isn't changing.
I think the most probable scenario for oil in the first half of 2017 is to complete wave C in some motive but choppy fashion. Ending diagonal is a perfect candidate for this move. As it totally reflects the fundamental idea of two battling forces. On one hand we have rhetorics and measures from OPEC plus seasonality in first half of the year pushing crude oil...
Price reaches the resistance level 53.50. The zone between 53.50 and 54.00 can give us new trade opportunities. Open short trades if: RSI confirms price reversal from the resistance levels, MACD histogram starts falling. Stop orders must be placed above 54.00 level and take-profit orders at the support levels. Open long trades if: price breaks above 54.00 level,...
This chart is really interesting. USD/CAD faked out of this weekly trendline, with CAD weakening as BOC stated they are leaving the door open to near term rate cuts. This could see continued CAD weakness in the coming week and lead to prices testing the key 1.3580 level to the upside. Our overall bias is still short so we see a triple top forming at the .50...
We are either in the midst of an ascending triangle or a rising wedge . A break above 54.50 means we have been in an ascending triangle and we are going much higher. A break below $52.50 and then $48 means we were in an ascending triangle and we are going much lower. Either way we are at a breaking point and should have an idea in the next 2 weeks where we are...
inflection point This study is not complete, and it is not intended to be yard art, but I lack the tools on my TV to better illustrate for now. These few days should demonstrate the idea. While looking at the ytd overlay of wti to Dxy, I found that the overall pattern in sync with wti. When reviewed at 15min I could see a direct corresponding pattern in wti &...
We have been following oil for long now. THe 50 moving average is crossing the 200, under a key level and after a lot of bearish momentum. It is a great opportunity to sell if we see some kind of retrace anf mini flag formation. Trade save guys!
This could happen during API numbers if you ask me
Will short if it drops to 52.32. My Target $ 51