gstorms

gstorms Updated 

As we can see, a clear double top has formed on the SP as it struggles to break resistance at 3000. Combined with the cracks that are beginning to show in the global economy, I believe this is a very clear case for shorting the S&P with our target being in the area of recent support SL = 2990 TP = 2760

gstorms Updated 

I realize there aren't many commodities traders on here, so this is mostly for myself and my own journal. I see a long opportunity in the Cattle market and hope to see a possible move to at least 110 in the weeks ahead. Cattle has been beaten down recently due a number of reasons. The main reasons I see are tariffs, declining profits due to the increased price...

gstorms

As we can see that USD/CHF is in a clear uptrend, this gives us an opportunity to enter long while it is retracing. I am using the fibonacci extension to give myself an idea of where my target and stop should be. Target = 1.02 S/L = 1.005

gstorms Updated 

With the recent decline in the USDJPY we see a potential opportunity to long a retracement while the pair is still in an overall uptrend. We also see the RSI has reached oversold levels which adds to my idea that we may see a move upward here. We have our stop set at 109.00 as a move below this level could indicate a confirmation of a reversal and a potential...

gstorms Updated 

With the recent rise in the EURUSD due to better than expected news from the EU and with mixed reports from the US, we see the EURUSD retrace to the 50% fib level and an RSI which indicates it is entering overbought territory. As we see we are still in an overall downtrend and foresee continued strength in the USD, this presents a potential trading opportunity to...

gstorms Updated 

While GBPNZD is clearly in an uptrend, I think there is an opportunity to profit from a potential downward move in the short term. As it can be dangerous to trade against the trend, we want to use a tight stop around 1.975 as a move past this point could mean a continuation upward. I see a potential for a move down to 1.95 and will look to take profits around this level.

gstorms

GBPUSD beginning next leg downward in a descending channel on the 3 month chart, good entry point for a short position with an exit around 1.295 Fundamentals supported by continued strength in the US Dollar and uncertainty regarding the future of Brexit in the UK