Hello everyone. US 10Y yield and DXY(Dollar index) are the two I always keep close eyes on. As I mentioned previously, it's a risk-free rate that impacted a lot of things, e.g. stock valuations, loan rates. The below line chart is one of my favorite that I created for cross-check US10 Y yield, Nasdaq and Gold. Normally, US10 Y yield goes the opposite with...
Hello everyone. EURGBP has been down for the past few days and violated the control low. However, if it continues going down, I'll be interested in potential reversal bullish trade as below: 1. On the daily, the previous low might serve as a reversal zone. Set an alert and wait for the price action. 2. On the weekly, the zone of 0.8279-0.8371 looks pretty...
Hello BTC traders. From Sept. 29th, bitcoin has rallied by almost 50%. Today it surged by over 4% on the growing hopes that SEC will approve the first bitcoin ETF soon. If the etf launches, it means more funds into the crypto currency. Currently, I don't know the specifics of the ETF, e.g. minimum investment amount, fees . If the ETF is friendly to retail...
Hello everyone. I've published bullish trading ideas on Microsoft with entries of 246-249 and 222-225 respectively. After the recent decline, I think it's probably a good time to consider the bullish entry again! On the weekly, the stock is testing the short-term MA which sits around 282. I also noted that uptrend line and a solid demand zone marked in yellow...
Hello everyone. Shanghai Composite index has consolidated near the key zone after the massive sell-off occurred on Oct. 12th. On the chart, we can clearly see: 1. Inside bar formation : This is a sign of indecisive move. It holds until it doesn't. That day is coming soon with reference to the below point. 2. Triangle pattern : I drew a green and red line...
Hello everyone. Markets are pretty bumpy those days amid potential escalated trade tensions between US and China, and approaching US debt ceiling deadline on Oct. 18th. The VIX has surged in the past few days as below. Let's have a look at my favorite line chart of NQ, Gold and US 10Y yield. Now, the US 10Y yield is around 1.5% As we know, the higher the...
Hello everyone. After consolidating around $1760 for a few days, gold finally broke my rebound target of $1786 with stronger headline inflation released earlier today. On the weekly chart, we can see gold is approaching the downtrend line which is part of descending triangle pattern . I guess price would face strong selling pressure around $1808. On the daily...
Hello everyone. It's been a while since I published idea of Chewy. The disappointed Q2 earning and Q3 forecast undermined the bullish momentum. It didn't hit the $120 original target, instead it broke $77, the key 61.8% fib retracement with a quick retest and fell all the way down to the previous low of $64. On the weekly chart, it's around the range bottom...
Hello everyone. Due to the crackdown on the tech sector, Chinese tech stocks like BABA has been abandoned by investors for long-time waiting and big losses( 56% drop from Oct high created last yea r). Recently, BABA started to get my attention with reasons below: 1. abcd completion with a continuation measured move failure indicated that sellers might be...
Hello everyone. USDJPY has been up by more than 4% for the past 2 weeks. The formation of big bullish candles took out highs created 3 years ago, and it also indicated that uptrend may continue. On the monthly chart(I disregard weekly chart for too many wicks), 113.64 to 115.41 marked is a strong bearish zone that may prevent the pair from being further up....
Hello everyone. Crude oil has taken out trouble zones formed 3 years ago and maintain bullish momentum to the upside amid new that OPEC+ stick to original daily output increase plan of 400K. Obviously, the plan couldn't meet the surging demand. Price tends to go higher with the undersupplied situation. So, on the news side, bullish for the black gold. As I...
Hello Forex traders. The recent surge of the US 10Y yield really give the dollar index a push. We can clearly see the rising dollar index weights on gold, stock index as well as other currencies. On the EURUSD daily chart, I'm watching how the zone of 1.661-1.673 will work as a defend holder. Two possible routes are marked on the chart: 1. Route 1: The...
Hello everyone. The US 10Y yield formed a really big bullish candle on last Thursday, with Fed didn't take any action on tapering. On the daily chart of the yield, we can clearly see that it firmly left the 1.3% bottom level. If it conquers 1.5% level, 1.7% and previous high would be retested then. The good economic outlook and inflation pressure is the main...
Hello everyone. Two days ago, I've published a trading idea titled 'Gold coming closer to rebound target of $1786'. You can refer to the linked idea for more details. As I drew on the chart, gold kissed the rebound target before falling into the battle zone again. Now, it's at the crossroads of up or down. Technically, the $1740 is confluence with solid daily...
Hello BTC traders. I was just posted a bullish BTC post yesterday and got slammed today. The maximum intra-day loss of BTC is over 8%. The strong holder still held well so far. Such volatile move is driven by a powerful influencer-China. The central bank of China reiterated that all crypto-related activities, including trading, mining, token issuance, are all...
Hello everyone. The strong holder zone in my previous idea worked well for BTC. What's next for the crypto? Let's recap why I marked the zone as strong holder. It's whole number of $40000 with long-term MA and flip structure. Now, the formation is even better, a bullish engulfing candle. So I'm bullish on BTC for the short term. The level needs to be closely...
Hello gold traders. I've published a gold trading idea last week. In that post, I mentioned that I observed a rally-base-rally structure( demand zone ), confluence with flip and 61.8% fib around 1740 . A few days has past, the level has been respected well. In addition, the Evergrande crisis also give gold price a push as funds rushes into safe-heaven assets,...
Hello everyone. Two hours later, Fed will release a policy statement with economic and interest rate forecasts. Chairman Powell will then hold a press conference. I recalled the timeline of tapering and how market reacted to the news back in 2013. If you're interested, you can google it. Let's get back to the chart, Nasdaq has been up by almost 200 points with...