cccpKGB1

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GBPNZD looks like it may be settingup a short opportunity. Channel is pretty clean given how volatile this pair can trade. 1) Bulls attempted failed breakout to the upside. 2) Triggered a sell off all the way down to channel support. 3) Price unable to secure support above channel heart--line. 4) Bears attempt to break through channel support. (False...

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EURNZD - We've seen three attempts by bulls to break through resistance. Another attempt by bulls? Watching for signs of a reversal. EURNZD is up 1200 pips YTD, 900 pips since July. Bulls need to muster a convincing break above resistance or seller's are likely to step in. Watching for any signs of life in NZD index... EUR is starting to show possible signs...

cccpKGB1 Updated 

EURCAD - Looks like price attempting to break out of long term ascending channel. 1) Price breaks to the downside of consolidation structure. 2) Price retests the consolidation structure and is rejected, 3) Price tests channel support, but can't manage a close below support. 4) Second attempt to break channel support is successful. Bears manage to close a...

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Looking at an equally weighted index of USD vs. other major pairs shows that historically it is very near critical resistance which has signaled the top four previous times. I like this view as it offers an alternative to DXY, which is so heavily based on the Euro. Each of the four previous time USD neared this level a strong reversal soon followed. Also...

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Gold has been in a consolidation structure, outlined by the green box, since the beginning of August. During these periods bulls and bears attempt to agree on a price, while providing the opportunity to accumulate / distribute existing positions. The range will eventually break either with trend (trend continuation) or counter trend (trend reversal). The range...

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After a day of continuous selling SP500 is currently sitting above short term support level. Might get a bounce from here offering an opportunity to enter short. Overall bias is bearish. Expecting a continued move lower in the near future. Let's see if bulls are willing to step up and protect this level. Identified three levels offering possible short...

cccpKGB1 Updated 

DXY - Last three daily candles... 1) Broke above long term channel support and closed at YTD high. 2) Small inside candle which retested channel resistance turned support. 3) Combination of the two prior candles would indicate trend continuation higher. 99.37 was the upper wick from last swing high and still stands as YTD high. Coincides with a support level...

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Silver looks to be forming a descending parallel channel as price corrects from recent highs. I'm not going to pretend I'm an Elliot Wave expert, but the move up was a bullish impulse wave. The ABC correction is forming a parallel channel, which we can use for a possible entry if price breaks lower. The target also aligns closely to the 50% fib level, which I...

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Gold - Was in corrective mode last week. Expecting price will consolidate within the green dashed descending triangle. If price breaks down, there is a thinly traded zone between 0.236 and 0.382 fib levels which could expose price to initially to $1450 (0.382) and possibly $1415 (0.5 fib). On the other hand, we could see a sudden shift to risk-off...

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BTC - Bears convincingly break down 0.382 Fib support. Weekly chart shows price consolidating between 0.5 and 0.382 Fib level since May after the bull run up to $1400. Four weekly candles with large upper wicks show price was rejected from moving higher. Candles all closed bellow 0.5 Fib. Drop in volume, repeated tests of support with bulls achieving...

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Waiting for Comex to open. Expecting more selling to break the range to the downside. AKA The Comex Smash. Two targets marked lower where I plan to buy with a tight stop. Unlikely we don't get at least a small bounce from those levels. The trend-line marked weekly support would be a big loss for bulls if they lose that support. Bias is long unless the...

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SPX has been consolidating within a consolidation range for the last few weeks. The range offered decent entries both long and short. Bears were able to push price below support , but no follow throughto the downside (false breakout). You can see the center of the consolidation area is a key level both bulls and bears are trying to control. Watch for bears to...

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DXY looks like it is setting up for a possible spike higher, but into strong resistance. Watch for sellers to step in if we break higher into the box region. 99.5 is a cluster of weekly candle closes and should offer strong resistance (previous swing high wick also). 100 psycological level above that, so bulls have their work cut out for them.. :) USD bulls...

cccpKGB1 Updated 

XPTUSD sitting at support level from recent consolidation. Also, back-testing descending trend-line from previous breakout. Resistance is up near $1960, offering a decent RR setup, depending on where on places their stop. One final consideration.... We're heading into seasonal strength. While there are many fundamental details to consider, I like the odds...

cccpKGB1 Updated 

Gold is likely to see similar volatility over the next few days.... Key trend-line, which I pointed out in a previous idea, was tested again and rejected. As the chart shows, the ascending channel resistance is associated with other key swing highs in the past. Bears will (and still are) defending this trend-line as (imo) it is the key resistance that need to...

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Are we there yet? Not quite....

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Currently trading 2 points below the previous ATH. Been hearing a lot of bullish narratives the lst couple weeks. QE, Easing, Rate Cuts.... Yesterday it was ECB. Next week it's the Fed's turn. Market sentiment was at extreme fear last week. --> themarketear.com Complacency set in? VIX has been dropping steady, approaching the lows. No concerns about...

cccpKGB1 Updated 

S&P has seemed to stall at the shown resistance level. Watching for rejection from resistance and / or break below trend-line. Tight stop. VIX is low, complacency is high,near ATH,.... Due to rinse some longs out sooner or later. Quick trade; in and out for me. Holding S&P shorts rarely ends well. 3000 & 2990 support levels for a target.