Twitter has had decent sell off since the time of the 14th of March. It has gone through some major support areas and managed to bounce off to the $27.68 area. The old support new resistance are around $27; $30; $32; $34. Today there was a gap in the open where yesterdays close ($30.4.) was, and the recent consumer confidence both support for higher tech gains....
What we see here is a really eager consolidation period. Since the beginning of February the Euro hasn't found a place to go, and the Australian Dollar has recently established some bullish behavior over some other majors. In this graph we can see that there is a persistently strong resistance level around the 1.5655 area, right above the 78% retracement. I...
Ok, so quick update with the EURUSD. We can see that after February's drop we got exposure to some solid support at the 61.8% retracement from the highest high. This is mimicked by the intense price action from the smaller 38.2% - 50% within that range. They're the baby blue lines. We can see that this chart has one bull flag at the end of an even bigger flag. To...
It's been a while but lets get right to it. Weekly The orange line I drew up is from the highest high back in 2011 (about a 3,745 pip range). This line was broken last year in July. Recently it's established a consolidation area in the past month and can be seen that momentum has slowed for a bullish outlook. As you can see the recent top has not been...
So these past two weeks have been a mess with the Euro and the US dollar. I've decided to stray away until I see stability and stronger signals. I decided to stick with different pairs for the moment. Today and for the rest of the week, I'll be considering a position in CADCHF and here's why: Weekly In the weekly chart I'm seeing a range after a...
Ever since I began trading forex it's been apparent that the EURUSD would be the most frequent go-to pair. After all, I live where one of the currencies is relevant (due to my novice understanding of the economy, not because I reside). So this is what we'll do. We'll examine the market from a long perspective and devise a reasonable target. We're going to go...
Lately the AUD has had some remarkable recoveries over the USD. What we have in place is a potential breakout or a potential draw-down closer to the 38% retracement. Our trend (so far), is upwards and this is going off of the momentum from 12/10/2018. Now the pullback was just a few shy from reaching the 38% retracement. One key technicality is that the 200...
Recently we've seen some odd behavior by the Euro in most currencies, but in great timing it has left us a few clues to determine its true direction for a long and profitable trade. Right now you can see in the 4hr chart, I've outlined a curve under the candlesticks . The curve represents the gradual change of the price starting the beginning of this month...
GE is showing mediocre resistance at the 23% retracement. Eh, nothing special right? Up until you notice the RSI posing as a huge indicator for a long opportunity. We haven't seen any levels like this in about 9 years, and over the course of 9 years, it showed a growth of approximately 279%. Now what does that mean? For one, it doesn't mean the investment is...