I can see a few key pieces of technical analysis on the Dow Jones index that I am paying attention to. The first is the bullish trendline that was quickly broken back in early March this year. This shows a significant shift in momentum and the higher timeframe trend technically became bearish when this occurred. Since the lows of near 18,000 were made and the...
Here is my second attempt, and dare I say it, the better analysis for a gbpusd short trade. I tried shorting this yesterday @ 1.22 with reasonable immediate success but was stopped out this morning.
In hindsight, I was looking at the lower timeframes too much and not using the bigger picture. Price is now retesting and rejecting the 1.22500 support/resistance...
There is potential for strong returns buying vix futures on this current pattern breakout. Price made new highs on the break last week and price is now back retesting the broken upper TL and 0.786 Fib retracement level.
A higher low here could see price climb up to the 40.00 level or more which would be significant. This might coincide with another bullish push...
I quite like the look of shorting GBPUSD at this key 1.22 level.
Nice 1hr bearish trendline, consecutive lower highs and lower lows being made. The 50/200EMA alignment is bearish and I can see signs of 1.22 key level resistance holding strong.
I think we could see a sell off from here through the rest of the week and at least see previous lows from Friday...
Nice simple trendline break and trend reversal trade.
You can see the previous bearish 4hr trend and trendline has been reversed with a higher high made and now a higher low forming on the 4hr chart. If this new low holds then I can see price climbing up to 108.800/109.00 levels.
0.50 Fibonacci retracement level held strong on this last pullback and strong USD...
Nice bearish trend formed on eurjpy with lower highs and lower lows made. Price has pulled back into the bearish trendline and is beginning to form a lower high.
I am looking to short at this level where price has rejected the 0.618 fib retracement zone and trade it back down to previous lows and maybe even new lower lows.
2 price targets shown on chart. TP1 at...
Simple day trade on GBPUSD using my own strategy. Nice bearish trend and I am simply following that with the use of some indicators. The spike in USD pairs this afternoon as given me a good discounted price to sell the Cable FX pair.
Stop Loss of around 30 pips to avoid any spikes in price. Target profit levels are on the chart.
Please check out my trading blog...
The 24,000 level seems to be holding strong on the intradays with price rejecting it twice recently. I believe we should see more downside on US Stocks tomorrow and through the rest of the week.
Strong selling momentum last week and this current pullback/consolidation should break to see more selling continue. I have got 2 targets on the charts for near term and...
Potential short trade set up on Spot Gold.
Nice 1hr lower highs and lower lows forming. Price is rejecting the bearish TL and fib 0.786 retracement level. Ideally it would be good to trade gold down to previous support @ $1672 and then maybe lower lows @ the -0.27 fib extension level.
Fundamental risks of gold pushing up higher if more bad corona virus news is...
USDCAD has reached the 1.38600 support zone and is showing signs of rejection. If bullish candle closures remain then I can see buying at these levels should prove profitable.
There is a 1hr bearish trend in play (trendline shown) so watch for price reactions there. If that TL breaks to the upside then 1.40200 and even 1.42500 could be achieved.
The dollar us...
Higher highs, higher lows on the 15min timeframe with a bullish trendline.
50EMA above 200EMA and price is above daily pivot level.
I am looking to trade this pair up to new weekly highs at 1.25500
Please check out my blog site for me free technical analysis and trading education diaryofafinancekid.com
GBPAUD has been in a nice downtrend recently since the daily bullish TL was broken providing good daily selling opportunities. I am now looking to see if price might reverse and allow GBP to gain some ground.
Price is squeezing in a wedge pattern at the moment and it seems to have found some support at 1.92500.
If this level can hold and the wedge is broken out...
This is a forecast for a potential USDCAD long trade this week.
On the larger timeframe you can see price has broken out (to the upside) from a bullish wedge pattern after the strong USD buying last month. From there we have seen multiple areas of consolidation. I believe USD will get a strong bid once more when more market trauma and bad news is released. This...
Dow Jones is back at a bearish trendline and appears to show rejection. Would be a good place to short here after todays spike up providing a high reward:risk short trade entry.
Stops above the trendline and highs, being conservative with 200 points or more.
Profit targets at the previous lows around 22,900 and then final TP at a lower low shown on the chart.
I am shorting GBPUSD down to new lower lows. I think this consolidation for the past 2 days will break and selling will continue.
- Stop loss is above the 50EMA and near 200EMA above these wick rejection candles.
- Profit targets are at the previous lows, -0.27 fib extension, -0.618 is the extension final TP.
Check out my blog site for more free technical...
Simple short bias day trade on US Crude Oil. There is more pain to come until they cut production massively and I believe we will likely see negative prices on 1st to expire futures contracts again.
Target set at daily S1 level
Nice break and retest of bullish TL on FTSE100
At this 5800 level there is also the fib 0.618 and previous S/R zone. I am looking to trade this one down to new intraday lower lows around 5400.
Profit target 1 is at previous lows and key level 5500
Here is my 3rd and final short trade set up on Dow Jones index. Previous trade entries have seen drops of over 1000 points each time which is significant profit but I believe this time we will likely see a drop of 5000 points or more.
The $24,000 resistance zone is holding strong with 2 clear rejections now and price is beginning to rollover. Buying momentum is...