Don’t look now, but April WTI futures are on the cusp of $100.00 per barrel. Is there a washout beneath this key level on the horizon? At this point, it appears a test under $100 is on the way. Here's how to play the breakout: 1) Sell April WTI futures @ $99.99 2) Profit target @ $99.88 3) Stop Loss @ $100.11 If we see a test beneath $100, then be ready for a...
At press time, it looks like US equities are in for a strong open. For GOLD, that means prices are bearing down on a key technical area: Daily 62% Fibonacci Retracement, 1951.66 Here's the trade: 1) Buy 1952.50 2) Stop Loss @ 1948.25 3) 1:2 Profit Target, 1961.00 Ideal timing for this GOLD long is just ahead of today's Wall Street close.
On the EUR/USD front, our key 2-way level at 1.1000 is coming back into view. If we see a test of this area ahead of the weekend, a buying opportunity may come to pass. Here's the trade: 1) Buy 1.1009 2) Initial stop loss at 1.0984 3) Risk vs reward is 1:1 for 25 pips This will be the third time in the past week that this number has produced an opportunity and...
It’s been a big morning on Wall Street with US stocks putting on a bullish show. On the other hand, commodities are getting whacked. Both crude oil and gold are in steep intraday downtrends. For USOIL, we have a key support level coming into play: Daily 38% Fibonacci Retracement, $114.40 If we see a test of this level, a long trade isn’t a bad way to go. Here it...
Volatility in USOIL is currently huge. Here’s a key level to watch: Daily 38% Retracement, $113.23 Here's the trade: 1) Buy $113.31 2) Initial stop loss at $112.94 3) Standard 1:1 risk vs reward ratio, profit target at $113.68
Safe-havens are back in style as the largest Ukrainian nuclear plant has fallen. Now, GOLD is on the cusp of the $1975.00 level. Here's the trade: 1) Buy $1975.01 2) Profit target @ $1975.16 3) Stop loss @ $1974.86 4) 1:1 risk vs reward ratio This trade should produce immediate, positive price action. If not, a reversal from this "hot" zone is probable.
It’s been an interesting Wall Street open. At this hour, the US indices are up while GOLD is down. If the pullback continues, we may get a late-week shot at a key 38% Fibonacci retracement. Here’s a look at the weekly levels: 38% Retracement, $1900.27 62% Retracement, $1854.14 If it comes into play, a long from GOLD’s weekly 38% Fibonacci Retracement isn’t a...
This pair has now breached the long term technical support. A strong down trend is prevailing. Today's pull back could stall at the 50 % zone alongside the market structure. The Euro remains super weak with save haven flows continuing to support the CHF....
BTC has done incredible well smashing through the roadblocks and achieving our first target, but where next? I expect two outcomes here. First, wait for a breakout and retest of the zone highlighted above price for a move to previous highs. Secondly, rejection of that same zone for a move back down to the previous lows at approximately the same level we...
The technicals continue to show the recent bullish trend is valid. For now, the weekly 38% retracement for USOIL has been a key level: Weekly 38% Fibonacci Retracement, $93.41 If we see an early-week pullback to this area, I’ll be looking to execute a long trade. Here's the play: 1) Buy $93.44 2) Stop loss at $93.19 3) Profit target at $93.69 4) 1:1 risk vs...
Yesterday was an epic day for FB, posting a 4.61% gain amid heavy geopolitical tension. Here are the key levels to watch for FB going into March’s trade: GAP, $309.53 to $248.00 2020/2022 78% Retracement, $190.55 Here's the trade: 1) Buy $205-$208 2) Stop out point at $189.00 3) Profit target anywhere in the GAP. The conservative upside target is at...
Looks as though we're going for a small corrective in BTC at the moment with my expectation for price to rise back to around the 36500.00 area. Once price reaches this intra-day style trade target, I will then be adding some SSL (sell-side liquidity to the longer term bear move so long as the bear AP (anchor point) is broken. Longer term expectation is short...
Following the RBNZ raising interest rates to 1.00%, the Kiwi broke to the bull. Now, a key daily Fibonacci retracement level is coming into view: Daily 78% Fibonacci Retracement, 0.6813 Here's the trade: 1) Sell 0.6812 2) Stop loss @ 0.6837 3) Profit target @ 0.6787 4) 1:1 risk vs reward ratio
Here are the key support levels in view for BTC/USD: Weekly 78% Retracement, $35,710 Demand Zone, $35,000 If prices continue to fall, a long from $35,500 may set up in the coming days. Here's the trade: 1) Buy $35,500 2) Initial stop loss at $31,500 3) 1:1 risk vs reward ratio for 11.2% ($4,000) 4) Profit target at $39,500
The crude oil markets are on the bear today, with WTI falling nearly 2% for the session. A few reasons for the chaotic price action are reports of an Iranian nuclear deal, Russia/Ukraine, and WTI futures rollover. Right now, this market is in flux. For now, the key number in April WTI futures is the weekly 38% Fibonacci Retracement ($88.95). Here's the scalp: 1)...
For now, it looks like Russia/Ukraine risk-off sentiment remains palpable. Risk-off means positive action in the safe havens. For the USD/CHF, the Weekly 50% Retracement at 0.9217 is coming into play. Here's the trade: 1) A buy from 0.9221 2) A 1:1 risk vs. reward worth 25/25 pips 3) If you take this trade, beware of the FOMC Minutes release at 2:00 PM EST!!!
Price equiblibrium continues in XPT and has provided us with many solid wins over the course of the last several weeks. We expect this momentum to continue with one of two things taking place this afternoon. Looking for a breakout and retest of the range median for a continuation to the range ceiling or alternatively a rejection of the median zone, retest of...
US equities have opened weekly trade in the red, led by a 150 point downtick in the DJIA. For now, risk-off remains the theme. The selling has brought a key level in the US30 into play: Daily 62% Fibonacci Retracement, 34,186 If we see the US30 drive further beneath 35,000, a buying opportunity may come into play: 1) Longs from 34,205 2) Stop loss at 33,985 3)...