Gold is at a critical stage right now. On the long-term timeframe 4 hours+, the trend is still bearish. Looking at the four hour chart, we see that 1930.57 level holds. Two long wicks show sellers above 1930.57. The Fibonoacci short target for this move is still 1875.25. And, We haven't even breached the 61.8% line to put the trend in doubt. The bearish trend...
Potential Double Bottom ahead of long-term support at 1941.50 . . . We hold 1952.22 level and break the 2030 level, the next target is 2140. THIS IS NOT A DRILL . . . THIS IS THE REAL DEAL FOR BULLS. Bears didn't break the big long from lows. GOLD AND SILVER are both going up and starting their next leg in their bull market.
We reversed on Friday. Like AUD, it traded a 50% short level in NY morning session and sold off hard through there. In fact, it is a much more aggressive sell than AUDJPY or AUDUSD. Looking out over a longer time frame, you can see we traded right up the 61.8% line of the entire up move. Target for this downside is 0.61339.
AUDJPY in a potential daily trend change. Risk off is on the table. Traded 50% short on Friday morning in NY and sold off pretty much all day. A 2nd chance short at 50% HWB short 91.90 would be a gift. If stocks keep selling off though, would expect it to head down to the 91.262 early in the week.
UJ traded lower on Friday and could be in for a minor top here. I'm looking for a retrace of the latest up move that has seen it rally into the 138's-139s. In the sharp downdraft late morning NY, UJ setup a short setup for additional downside in USDJPY. Look for a move back up to the 138.10 area. We encoun6tered resistance and traded away lower from this area. I...
Euro seems to be at the bottom of the range. But, the real trade is GBP USD at a 50% Fibo long of today's action. This could be a good level to be in long from overnight and into the NY trading day.
We have a 50% Fib long of today's action in Silver. Some great trades today went to their objectives. Use a break of the 61.8% on the downside as a stop.
Time to go long here after this nasty minute pullback on the 15 minute chart. Cut it at 20 ticks or so stop loss.
Crude bounced smartly off of 79.69 twice, with the 2nd test just happening in the Euro session this morning. It has returned to 80.40ish level. This sets up nice for a move back to 81.80 level to try to break the short at the 61.8% line of the recent downtrend. If it can do that, it will open up further moves to the 83-84 area. And, Nat Gas has went down and...
THese had good solid retracements into 50% supports, especially Silver, this morning. These charts are pretty bullish. Maybe a bit late in the day to get in but there are makings for continued higher moves and breakouts over the next few days.
We have been short energy since the gap up on Sunday. Now, it's time to lock profits in, especially in crude oil. The bounce off the lows today coincided with a 50% Long of the upmove, to the tick. That is a warning. Those in shorts above 81.08 might let it ride, as that is the 61.8% retrace. However, given the hit to the tick of the 50% long, we are inclined to...
Seems like we tried to break out of the range and failed today at the top. And, interestingly enough, the 50% short held through the day. So, we should see the bottom of this range. Depends on where you get filled but, thinking a break of the 61.8% line on the upside would probably be a quick exit. So, look for 3:1 or 4:1 reward: risk ratio here.
Oil has issues with 82.00 and has repeatedly try to break the level decisively over the past two weeks. We are in the 50% HWB short zone from the declines in November - December. We need to confirm on the 15 minute chart . . . but, this is a good area to sell oil up against the 61.8%.
Natural gas gapped up significantly and Crude oil touched the top of a triangle and subsequently traded a 15 minute 50% Fibonacci. Trade these things down and and use the highs of the Asian session as stop losses.
Coming back to Daily Resistance. Daily Short Level is at .70935. Recently traded .70625 and sold away. Upside has been capped at the 15 minute 50% Fib. 15 minute Short trades at .6969. 61.8% is a .6995 SELL 5 Short above the level with a stop above Failure. Target .6825 for a 5:1 Reward:Risk Ratio.
Coming back to Daily Resistance. Daily Short Level is at .70935. Recently traded .70625 and sold away. Upside has been capped at the 15 minute 50% Fib. 15 minute Short trades at .6969. 61.8% is a .6995 SELL 5 Short above the level with a stop above Failure. Target .6825 for a 5:1 Reward:Risk Ratio.
Locked between two 50% lines, Intermediate Short and Long HWBs. Current micro short means that Staying below 9410, put the bottom of the range at risk based on this micro short that has developed this morning; short is staying beneath 61.8% line. 9270 short term objective, at the very bottom of the range.
Bitcoin Short Trade - Another one. Right now. Sell 9590. Target 8917.80. Stop 9750. Let's see how this short trade plays out. This setup is the same that drove us down from 10200 to 9131.