nahidik

nahidik Updated 

There is still the potential for oil to slip to test or drop below the recent lows. After the big drop we had a stutter step and a retracement followed by another big drop. If price disrespects the 4 hr trend line look for a retracement. It is not if, but when and how far. While oil futures are painting a rosy picture price may be being slightly manipulated. -...

nahidik Updated 

Momentum is slowing on this up trend and the correlation of Aud to Au is very strong. As gold goes so goes the Oz. (see link below) The AO on the HTF is saying possibly one more up. There is a strong area of 4 hr and daily resistance around 77. I am not too keen to pull the trigger on a break of the purple 1 hr trend line as the bounce is suggested. If price rises...

nahidik Updated 

Price is pointing to an upward move to the 1.34 area. It first has to break out of the HTF correction. That train may have already left the station but I am looking for an A-B-C move down into my PRZ followed by the start of the rise. Watch for a bounce off the daily pattern line. If it starts a steep pull back I would suggest taking profit and re-entering after...

nahidik Updated 

Momentum is running out and this pair is set to turn soon. It is a good test of the MACD and the AO as they both say different things. My experience so far does not really give an edge to either one, but I find the AO more responsive. We had a pull back with consolidation on the LTF as per my rules ( see linked chart). That move was stopped due to strong support...

nahidik Updated 

Post Brexit things are still a little unsteady but starting to get back to a normalized pattern. There was a strong Brexit impulse down which is was projected by the linked chart. It is now in correction and could resume the down movement at anytime. I am looking for a break of the blue 4 hr trend line with a small flag or correction below (three x 1 hr candles...

nahidik Updated 

I believe we are in for a bit of a correction on the lower time frame. Price may fall to the 1.27 or even the 1.16 extension. I will be looking for a break of the 1 hr trend line (purple) followed by a small correction (3-5 x 15 minute sideways). See attached chart for my breakout procedure. If price moves too far away from the 1 hour TL before correcting I would...

nahidik Updated 

I see a lot of charts that say buy/sell the breakout. Problem is how do you do that? Well this is what In look for. I am looking for a correction around the trend line (TL). I prefer a break of the trend line. If price breaks the TL and then follows it back in a shallow flag, it is most likely going to break in the original direction. I draw a LTF (lower time...

nahidik

Silver has been on a tear lately. We have had a very sharp retracement but I believe there is one more up before a larger correction. Price is approaching an area of support which should hold and send it back up to test previous high. Another entry would be the break of the purple one hour trend line.See related idea link. If price breaks below the blue 4 hr...

nahidik Updated 

I am still bullish on the DXY for the intermediate term. The 240 shows a downward correction which should break the structure on the next move up. Watch for a strong break and close on the 4 hr candle followed by at least 3 x 1 hr candles in a sideways or slight pullback flag. Take the break of that flag. Your stop should be under the last pivot point before the...

nahidik Updated 

My guess is the cryptos are the furthest from Brexit. This is looking like an extended correction may be over or close to it. Although it looks like a strong move away the MACD is suggesting a bit more down. I will be looking for a bit more up and then a break of the 4 hr (blue) trendline. Followed by a drop down to the 7-9 area. That should be it and a strong...

nahidik

We will see the fallout from yesterdays historic event for weeks if not months before everything settles into an orderly pattern. We did eclipse the pivot low which puts high high time frame into a down trend (LH, LL). On the weekly we have not finished the "C" leg so there may be a touch more down before a bigger correction. The correction may retrace to the...

nahidik Updated 

Gold is retracing back to a strong area of support which coincides with the .618. I would not be afraid to take a long position here. If we get a fast move up we could either be finishing the A-B-C or perhaps we have a 5 wave structure. A shallow move away or a break below the trend line could indicate a much bigger correction. The MACD and Awesome Oscillator are...

nahidik Updated 

I am expecting a big move up on the HTF. This may be the start of it, but the hourly MACD is not showing divergence which suggests another move down before a big move up. There is a strong support area around the 103 area. If this breaks down I will trade it with a tight SL. Then long it for the bigger move to the daily TL (green line) and above. If price breaks...

nahidik Updated 

We don't see too many gaps in 4X but this week gave us a few to play with. Of course they don't always play out this way but more often than not in my experience. The link below shows another completed gap and how it played out. This is not a trade recommendation just how I see gaps. Remember educate yourself, create a trade plan, validate your ideas with other...

nahidik Updated 

Price is at the bottom of what appears to be the 5th wave. It should break out to the upside. However there is a strong area of support just below it may penetrate. Please educate yourself, create a trade plan, validate your thoughts with other traders ideas. Take responsibility for your trades. Be sure you understand the trade. If not ask questions until you do.

nahidik Updated 

MACD is indicating another move up. So I am looking to go long with with a conservative trade or an aggressive trade. I will move my SL to break even rather quickly due to the extended range candle on the impulse. This could indicate a weaker support level.

nahidik Updated 

I am looking for a buy opportunity. It is an aggressive trade with a high risk to reward so within my trade pan. Educate yourself create a trade plan, use others to validate your plan. Be responsible for your own trades.

nahidik Updated 

We have a strong move away from the TL This would indicate another move up for a correction of the major wave down. I am expecting the weakness that may be appearing in the DXY will correspond with a long here. We are getting close to Brexit so these will be volatile markets and could swing at any misstep or word from the talking heads. I believe the UK sticking...