Traders. Take a look at this Monthly chart on the left and Daily chart on the right. The purple Fibonacci levels are substantial and represent psychological pullback levels that will act as support if EURUSD decides to test the quality of the trend. This Fibonacci sequence is ran from the high in 2014 to the low found at the beginning of 2015. EURUSD is in the...
Hello Traders. With EURUSD getting way up there I'm at a place of caution. My expectations of EURUSD most recent bull run have been met after a beautiful 5 wave impulse pattern. How much farther will it climb? I have no idea short term. Long term I believe DXY is due for high 80's, but presently I feel our fuel has been used up getting this far. We will need to...
USDJPY has always been very good to me dare I say. November 2017 my followers and I captured a picture perfect sell signal and that same area continues to be a profitable selling zone. USDJPY had many reasons for this down move. It's unfortunate I did not short on 1/8/18. I have been solely studying EURUSD. I do feel its a missed trade but I am NOT entering out...
Evening traders. Crude oil appears to present the best pattern for swing trades on this 4 hour chart. Like EUR/USD and DXY, they are at the end of 5 wave impulse pattern. Next step is to complete a three wave correction which should take us between wave 3 and wave 4. That being said I'd really like to see price push back up to the strategic entry labeled on the...
On 1/4/18 Jeff Sessions tells federal judges they have the authority of the federal government to prosecute marijuana growers and researchers thus revoking Obama's peace clause. All marijuana related companies were slashed in half that Friday so I browsed the scene after the close to see if any charts looked promising. Lone and behold I found this stock hiding in...
Markets move in the correct direction with as few traders as possible. Knowing that BTC is going to trade as irrationally as possible. Price is expected to retest the lows. Reversals anticipated. This bull flag looks way to obvious. Usually when formations look this good markets become as painful as possible. I expect price will flush out traders before moving...
Logistic Wealth Management DXY Long term projections Strategist: Tanner Elphee We have maintained a short bias on the US Dollar since 5/5/17. On Friday, May 5th price closed below support giving us the bearish flag on the daily chart. Any bullish retracements after this close have been shorted with success. Economically speaking, this 'super freakin' strong...
Hello Traders. Hope everyone is staying warm. Snow and zero degree temperatures expected in Virginia. Many traders use many different indicators. There are so many its impossible to tell which ones are useful. Simplicity is key. The most important tool in a traders toolbox is the ability to deceiver the prevailing trend. Using higher high/ lower low analysis we...
EURUSD is certainly in an uptrend here but currently testing strong overhead resistance from the previous high from 9/08/17 (brown line.) A pullback is expected where I will be placing buy orders. Correct me if I'm wrong but the orange fib is running from the peak at 1 to the trough at 2. The extensions appear to cluster with other resistance levels in the...
On both daily charts seen above, Eurusd is forming a decent head and shoulders pattern anticipating moves to the downside. These setups have been historically powerful but require a lot of patience. I will risk 2% of account balance and intend on taking 1% off the table at T2 and letting the other 1% have a chance at T3. Entry - 1.18612. If we are fortunate...
NZDUSD is in certified uptrend on the daily and has since pulled back and tested old support and verified it has now become resistance (Purple circle on daily .69500-.69400) This also aligns with my current trading plan bias of XXX/USD symbols higher with lower USD/XXX symbols (See related idea.) Two entry points have been established, of which I will enter 2%...
Merry Christmas Traders! Litecoin made a top on 12/18/17 at 370.78 (Bitfinex) Since then price has made a nasty retracement to the 150 level on the 12/22/17! $150 for a coin worth 300 a week ago! Duh! Now the only thing to do is wait and see. Price can either do two, maybe three things. 1. Remain in the Down trending channel where 200 and 160 will act as...
Technical Analysis of EUR/USD with Fibonacci retracement indicators. Large time-frames (Monthly Weekly) are showing an uptrend that is still intact. The latest counter trend move down (Oct-Nov) has been a classic retest of old resistance now becoming support which indicates a strong possibility of bullish trend continuation. The classic retest level of...
Hello Fellow Hodlums! This post will outline my humane approach to investing in Bitcoin. Consider how much money you can afford to completely lose. Calculate rough percentages and follow my lead. Please read disclosure at the bottom of the post. Technical perspective : 15,000 is our closest area to consider buying. Round numbers and Fib levels support us here....
Hello Hodlums. Bitcoin price has pulled back after hitting new highs to the tune of high 19,000. I believe the pullback is related to the rise of alt coins, but that methodology is flawed since all coins seem to be hitting all time highs. Money really wants into the space, but they will need to go through bitcoin to get it. This consolidation level is also...
In my opinion EURUSD is overextended to the upside. I have been waiting for this move to stop out a majority of traders with close stops. However It would not surprise me if price lingers in this area for a couple days. To me, the probability these prices are temporary is worth the risk. Stoploss has solid conviction behind the high of the shoulder; 1.18820....
Saw price below 7000, signed on to Coinbase and bought $150. Price also pivoted off fib levels and as it appears now, is holding above the lower low. This is a long term buy, I'd be completely comfortable losing all the money invested in Bitcoin, just like sitting at the casio.
USDJPY has respected in the uptrending channel for quite some time now. Just recently, the channel intersected with a major overhead band of resistance which has been a major pivot point for price in the past. Lone and behold, price broke both channels at the intersection point (see purple bubble), then clearly rejected old support. Price should proceed to move...