UnknownUnicorn5514496

UnknownUnicorn5514496

Breaking out from a wedge pattern, which is usually a very reliable indicator for higher prices. First target would be $79.50, then $80.50. Stop out would be below $76.50. This trade fit the "strong global economic recovery" narrative as AUD would be getting stronger/JPY getting weaker, both of which signal risk on sentiment. Thanks for your support! If you have...

UnknownUnicorn5514496

Nice flag pattern on $GBPUSD, this would go along with the narrative of short-term dollar weakness. Some nice wicks to fill as we look left, and the momentum is up so we know that wicks fill when markets are in momentum. Could place a stop right below that flag pattern if your a longer term swing trader with forex like me, or look to smaller time frames for...

UnknownUnicorn5514496 Updated 

Silver looking to fill wick of daily candle, this is also the wick of the weekly candle. Silver loves to cup and handle, very round-like saucer pattern all the time, as evidenced by the chart. The trade I am playing is simply the range fill. Not looking to take the whole thing, just a nice piece, as the market can reverse at any moment.

UnknownUnicorn5514496

Above chart is a daily chart, I believe we are seeing a pretty routine breakdown of a previous trend, retest, and now we look set to continue. Target is the bottom trendline of the broadening formation that looks to be forming on $GBPUSD.

UnknownUnicorn5514496

From the looks of it, I am liking the chances of a move higher for $EURUSD. Seeing a nice flat top flag forming on the Daily and H4, and I think a move higher is in the cards for $EURUSD. Definitely on watch for me.

UnknownUnicorn5514496

Thinking Bitcoin will see a test of $10,000 upcoming. Based on the break and retest, I am liking the odds on this long trade. Nice H4 3-bar reversal pattern near support. $10,000 is main target, but I would leave a small runner if we do continue up towards $10,300. That runner will be risk-free with stop loss at B/E or even in profits depending on structure.

UnknownUnicorn5514496

Thinking we will see a retest in the coming weeks of $36 before we make a decision about continuning to break down and head lower, or reverse and continue this upward move we've had. Right now, I am seeing a breakdown in trend, and the width of the H&S topping pattern at the top was about 400 pips, of which we completed 300 of so far. I could see an early push...

UnknownUnicorn5514496

See chart for mark ups and analysis. Short from $69.630

UnknownUnicorn5514496

Nice run up in $GBPUSD, if you watch $DXY you'll see a text a textbook break down of a wedge tracking lower towards $96.00 in almost a straight line. Thinking we could see some relief. This is the third touch, so it should be a pivotal moment in this pattern as to whether we continue higher or begin to reverse. Watching for signs of breakdown.

UnknownUnicorn5514496

See chart for targets to downside. This is a trade that would assume either $USD getting weaker, or $CHF getting stronger, or both. From the look of the futures markets, it is tough to say, because the dollar has sold off for 6 days straight (7 including today if we finish red) and the Swiss Franc is right up at support, and showing signs of reversal on the daily...

UnknownUnicorn5514496

With the market looking ready to accept risk again, and with the economic outlook improving, I think we have a nice set of circumstances for bond prices to come back to reality and come down a bit from their stratospheric levels. That said, this is the yield chart, so that move would be represented by US30Y going up because prices move inversely to yields. Not...

UnknownUnicorn5514496 Updated 

Liking the breakout and retest of the prior range here, looking for this to continue up towards the top of the daily range, near $1.107500. Long @~$1.10015

UnknownUnicorn5514496

I know a lot of people are thinking $USDCAD is about to retest highs. However, the contrarian in me can't get over the much higher and more stable oil price that is helping to add support to CAD, and the level of uncertainty in the world economy is shrinking day by day which is contributing to the "risk-on" sentiment becoming more attractive. As prices continue to...

UnknownUnicorn5514496

Downward sloping descending wedge with a flat bottom. If we breakout of this formation and hold, we should sell off towards the $1.77100 area. This would require either Euro getting weaker or NZD getting stronger, or both obviously. But the key here is sentiment. NZD would rally upon a risk-on sentiment for the week, but any bad news will cause this to continue...

UnknownUnicorn5514496

Price is up near major horizontal and diagonal resistance, and is showing signs of making lower highs and lower lows (i.e. reversing). Like the short back to the other end of the range, would look to take profit along the way about half way down, and leave a runner going towards the secondary longer term target near the lower uptrend line. Short @ $0.60970

UnknownUnicorn5514496

Long @ $1.39526

UnknownUnicorn5514496

Pure technical play. See chart for analysis and markups. Long term target indicated by the position tool, would suggest taking profit along the way at the 50% and 61.8% fib levels and leave a runner to chase the upper end of the range. Not saying I see/know some sort of fundamental reason why the pound may be about to strengthen, or USD weaken, so I am prepared...

UnknownUnicorn5514496 Updated 

Liking the long here. Technically speaking, we have a nice bullish close on the recent H4 candle, closing above the previous three H4 candles closes. We also have a breakout of the downtrend line and solid level of support to trade off of on the H1. My stop is below the hourly breakout candle near $1.08590. Will update as the trade progresses. Target is the next...