The AUDJPY has setup nicely for a pullback entry short into an established bear trend. This must be taken at reduced risk for the reasons mentioned below.
Monthly - Price is trading inside the annual levels of 2017 but has been in a bear trend since the start of 2018.
Weekly - Price is trading below the 200SMA and the 50SMA.
Daily - Price is trading below the...
Last week saw some life injected into UK stocks particularly on NFP Friday. Hiscox LTD was one of those stocks which is now setting up for a potential long entry.
We saw good moves from the very start of last week leading to price on Thursday breaking and closing above long term consolidation which dated back to November of last year. NFP Friday saw price break...
Fever-Tree Drinks LSE:FEVR performed well for me last year.
This is a fairly new stock, only floating on the UK stock market in December 2014.
Despite this, the stock has outperformed others which have a long track record.
After the strong move up over the past couple of years, price went into consolidation and
used the daily 200 moving average as...
The GBPCAD is starting to look interesting but needs to clear a key resistance cluster if we are to place long trades.
As explained in previous posts such on the EURUSD, we look for a certain criteria to be met across the monthly, weekly and daily timeframes that defines our edge before placing trades. Having and being able to define your edge is essential to...
Asos LSE:ASC looked like it was failing to stay above the previous resistance level
but price has started to show resilience again. This is thanks to the daily 50 moving average which it has used twice this year as support.
Price is also above the weekly 50 and 200 moving averages so the overall trend is up.
The high of the 27th February is the point that will...
It was not long ago we were looking for potential shorting opportunities on the USDCAD when price was moving towards the round number support of 1.2000 in February of this year. Price back then very much had a bearish bias to it with price trading below the following levels:
Monthly - Close to breaking below the low of 2017 and the round number 1.2000.
Allianz Technology TrustLSE:ATT has broken out and created a new all-time high.
Price is above the Weekly and Daily 200 moving averages.
What is interesting is that the last time price visited the daily 200 moving average was in July 2016.
Recently price took a trip back to the 200 moving average which is normal when a stock trends well for a long time.
SKY LSE:SKY gapped up significantly last week.
Previously this stock was just travelling sideways and was hovering around the £10 figure, then unexpectedly price
jumped up which may be down to a news announcement.
As technical traders we believe that the news is factored into price and regardless of what caused the gap, we have to figure
out how to trade this...
The USDJPY handed out very good profit in two bull runs between the end of 2012 and 2015 but has since been difficult to trade. Price spent 2017 in consolidation but weakness since November of last year has seen price breakout and now looking interesting for a potential shorting opportunity.
The bear trend in play since the start of the year has covered a fair...
Looking at the FTSE_100 TVC:UKX lets first take a look at the facts.
Price is below the daily 200 moving average
Price has used a previous support level as resistance
A break and close below the next support level will confirm a lower high (which is a sign of a downtrend)
These 3 facts do not give us confidence that we are still in an uptrend but it is still too...
We posted on the EURUSD yesterday and how we require a bounce from support.
The GBPUSD is no different and has a very similar structure to it.
We have highlighted the breakout bar that offered an initial long entry that we took with little hesitation as our edge had presented itself at the start of the year. Our bullish edge is defined as follows:
Dechra Pharmaceuticals LSE:DPH has been consistently growing since it launched on the UK Stock Market in 2000
where it opened around £1.25 and now currently stands at £25.
Although it has consistently risen ever since, the trend does contain deep pullbacks so if you decide to trade this stock
then you will have to ride through periods of pullbacks that do last for...
The most profitable environments across all the markets are trends, either bullish or bearish. Since 2016, the trends have been very much in stocks with UK stocks such as Boohoo and Burford Capital and US stocks such as NVIDIA and Boeing handing out excellent profit in this most recent bull run.
Forex, in comparison, has been notorioulsy difficult to trade, with...