Burford Capital LSE:BUR breaks out again. After the breakout of consolidation I mentioned in my previous post that I will wait for the next breakout before entering. The reason for this was to make sure the breakout was not a fake breakout. We now have another breakout but the pullback only lasted for one bar. We would prefer to see a deeper pullback (bullish...
We are very selective of the exotics that we trade. Given the majors and their crosses, there are ample currencies to choose from when the FX market is in trend. On occasion, we do tend to add the odd good looking exotic to the portfolio. The TRY currencies are ones that we do keep an eye on for opportunities as they can trend well. The TRYJPY is the first...
Keywords Studios LSE:KWS was recently in a long period of consolidation where we saw price going sideways. During times like these, we do not want to enter trades and we must wait until we have a clear trend direction. Now price has broken out of the consolidation zone resistance. Taking the first breakout is not the best option to take because it can easily...
The CHFJPY has been trending very nicely since the end of January when price found resistance at the high of July 2017 just short of 119.00. Price has since fallen circa 800 pips taking price out of an area of consolidation. I have drawn in the support zone that was acting as the base of the consolidation. In March, we have seen a classic break and retest of...
We last posted on the AUDJPY on March 14th when price, which has been in a bear trend since the start of the year, pulled back to a key pivot level of support-turned-resistance. We mentioned that price had setup for a pullback entry given that we had seen a number of indecision candles at this resistance level. This resistance level did indeed hold strong and...
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...
We last posted on the GBPCAD on March 8th when price was immediately faced with the weekly 200SMA resistance and pivot resistance at the 1.8000 round number. This was a resistance zone that we wanted to see price break through to confirm a trend continuation. The trend at the time was very much bullish but patience was needed as price needed to break and close...
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 breaks through previous high after bouncing off the 50 simple moving average. See previous analysis This breakout helps us to confirm the buyers are in control for now but will things stay that way. Underneath price we have the 50 moving average which has proven time again that it is a strong support level so this can help keep price...
Burford Capital LSE:BUR trended really well from 2015 up until 2017. This move saw price rise from £1.70 to £12.40 which is a rise of 629% . After such a huge move price needed some time to rest and recover which is when price went into a period of consolidation, which began in July 2017 and it is only now that price has found some strength to finally break...
The EURCAD is one to keep an eye on for potential long trades but is currently faced with a key pivot resistance that dates back to 2016. Price has been trending very well since bouncing off the daily 200SMA at the start of 2018 covering around 1200 pips in that time. Price attempted to break through the 2016 high last week but failed. We saw strong moves...
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...
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. Weekly -...
Allianz Technology Trust LSE: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. The trip...
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...