hankle

hankle

Summary It is popular for traders use Fibonacci tools in their analysis. After applying the retracement/extension tools properly and seeing legitimate pivot points, one must ask why does it even work. As many of you already know, the rabbit hole you jump into leads you into many niche places and never know where you end up. This is just one of those things that I...

hankle

Overview : The dollar is still in a down trend channel. Yellens meeting seemed to transition to a Trump, weak dollar theme. Dollar highs and lows starting to transition to a new phase that may break from current channel. The Chart : In the 1 hour chart of DXY, I've set up a Fibonacci channel in stead of drawing tools (if for nothing else as a visual...

hankle Updated 

Overview - Sentiment immediately changed (...again... I know) from extreme bearish to excessive bullish from traders as we reverted back to the top of the channel. This is especially true in the USDJPY pair. The index and the USDJPY is still clearly in a downtrend. Unless you are eager to get ran over by the heavy weight greenback, I urge for confirmation before...

hankle Updated 

Overview: The last few weeks we have seen wide ranges in the USDDJPY pair which has ultimately followed a respected channel going back to December. Recently, price action violated this channel and has failed to hold anything substantial. This can be attributed to news. Recent Price action: Recent price action looks to be in a distribution phase: Double top...

hankle Updated 

USDJPY is a great pair to trade because of its volatility, spreads, and tends to react similar to previous action. -115.35 area seems to be a strong support area and has tested it a few times ---> Tested this area twice on January 5th - 6th before ripping +200 pips with indicators in extremes ---> Recently tested this area twice, January 9th -10th with...

hankle Updated 

This is my buy/sell range based off fib retrace and fib time. I took a short position Friday as the S&P was still in Green around 10:00. Swing trading $VIX $EDZ based off of price action and charts. Of course this is a short term play. This coming week has heavy economic data coming from many countries. This bounce took place without much economic data reported,...

hankle

I am in UWTI: a 3x leveraged ETN based on the price of crude. Red triangles were my recent long DWTI positions and green triangles were UWTI positions. Fib retracement shows confluence zones, suggesting support. However this is a rising wedge in my opinion. My personal experience with them is neutral, but it can break either way.