In this screencast I show two charts where crashes could happen. I focus on Wall Street which - affects markets globally including forex markets. On the weekly time frame US Oil is beginning to struggle at a 61.8% Fib retracement. Wall Street is possibly struggling at an important structure level. A whole lot depends on China. But dig deeper. See the CSI300...
Stay tuned. I'm showing how - at the moment - a resistance ledge on AUDJPY on the 4H time frame may break down. 'May' means there is no guarantee and no prediction.
The seemingly improbable happened today. The bulls on Wall Street pumped north up to a key position on the weekly time frame. This is now an invitation to a whole loadah bears. Key positions on the weekly are likely to affect what goes on on lower time frames.
The wedge formation shown is not pure. It is complex. The tighter sharper wedge could see price falling out and to the south. The other enclosing wedge could see price rising north. In situations like these one has to decide: 1. Long with an ATR appropriate stoploss. 2. Short with an ATR appropriate stoploss. 3. Stay out completely. In addition to the wedge...
Oil surprised and went orbital on the 1H time frame. RSI went into a sharp peak at about 84 on mid-point prices. The unexpected pump was attributed to news that the US will stop giving sanctions waivers to countries that import Iranian crude or condensate. This 3-day time frame is tricky. Do you go long, short, or just stay out. I'm short on a lower time frame...
What a day it has been on Wall Street (DJI)! The markets moved north on Mr Trump waxing lyrical that he's off the hook - yet again. What the Mueller report actually said at p182, was that, " The evidence we obtained about the President's actions and intent presents difficult issues that would need to be resolved if we were making a traditional prosecutorial...
The big man says 'Game Over'. Well for traders the 'Game' may just be about to start or restart. This is geopolitical news - the important kind that could rock markets (stocks and forex) all over the globe. I point out some important findings from the Mueller investigation report (which I declare as accurate summary statements). I show possible market moves on two...
I won't say much in this bit of text. It's all explained on the video why I think a bullish pump north is more probable than a bearish bust south. The markets are there to prove me wrong. But I have to evaluate what I see.
Everybody - I mean everybody - who is actively trading has to make decisions. Entry points, exit points, trailing stops, stop-losses and so on - they all involve decisions. But what affects the integrity of our decision-making ? Some say we don't need to make decisions, once we follow a mechanical trading plan. I disagree 100%. If everybody could follow a...
Qualcomm is probably the most violent stock on the planet. The resent trip to the moon was a result of the signing of a truce with Apple (APPL). Apple - the giant - had sued Qualcomm for $30 billion in an overcharging dispute. Qualcomm had fired back with a paltry $7 Billion counter-suit for lost payments. They settled their dispute and investors went into a...
It looks like a 'three drives' pattern. But I'm no expert on this particular pattern. I make no predictions. I'd welcome perspectives on this from others who know more.
The tip of the current position with GBPAUD (4H) looks like it is near the end of a contracting wedge pattern. We also see some huge scallops. This may not be a great position. But in situations like these I'd take a stoploss. This could be tricky because one has to expect price to fall out of the wedge and then return inside, moving up. But it could also break...
Stay alert. This pattern can deliver. As usual no risk, no gain.
Loads of /JPY pairs were affected on Thursday and Friday. There's hardly anything I can find on this in mainstream media. It's either the Yen went south or 'everybody' else decided to power up their respective other currencies. I don't know what exactly happened. If anybody else knows do share with the community.
The big pump down on the DAX on a 3D time frame is seeing an alternate three-drives pattern up retracing into a 61.8% Fib and a zone of congestion. All we can do now is get our axes ready for a nice short on a lower time frame. Preparation is 'everything'. :) You may win, you may lose. No pain no gain!
AUDCAD (1d) can break north or south. The position here is very tricky. Long squeezes of momentum and ATR resistance can be followed by price going either way. At this time only, there's more on the chart suggesting probability for the south. On the last bullish limb up to 3rd Dec 2018, price retraced down to a 76.4% Fib before a struggling recovery from 1st...
Right - so you wanna make money in these markets. All I can say is that these are dangerous times. This is certainly not ' The Big Short' any longer. I call it the big fudge. Now we're not allowed to say who exactly is doing the big fudge - cuz it'll probably break a whole bunch of laws and policies. But it's not illegal or wrong to point to a big fudge. Like it...
Potential trouble on this 30 min time frame. Have a look. I'm short (not a recommendation). Press plus button to expand chart for a better view.