SELL SAIGNAL FOR LONG TERM . POTENTIAL RETURN TO 1/15 TARGET PATTERN DOUBLE TOP TARGET RECTANGLE OR SUPPORT ZONE CLASH TO LINE OF UP TREND IN LONG TIME Please note TO NEXT analysis. MORE DETAILS TO CHART THANKS
Perfect setup for a short. Stops above the previous swing high. Upper Trend-line of the Descending Triangle Pattern has held on both the chart and MACD. This offers us a low risk opportunity to jump into a short position on the euro. Happy Trading!
It's safe to say it's been an exciting day in the Markets, and to be honest we don't expect that to change much over the next week. As Greece came out of the weekend with absolutely no progress whatsoever, Risk Aversion took a hold within the markets as investors started pumping their money in to "Safe Haven" arenas. One such Safe Haven is the Yen, and it seems...
Friday closed with an apparent Tweezer Bottom set-up retesting the descending triangle (See - ). A look at the 4hr chart confirms the price pattern breakout and subsequent retest. A successful test of the 50ema would confirm the Bullish momentum and might provide intraday traders an entry point. Sticking with Swing Trading strategies, a stop loss at 123.15 and...
Look at this interesting situation. On a daily chart it is pretty obvious that the price broke the upper line of a descending triangle, but now bears are pushing the price lower. On a 60 minutes chart we can see that the price has moved sideways for a while, but now there are signals that it can continue to move lower. A break below the local support could signal...
Dear workmates ! Last week, we saw a nice correction of the strong dollar uptrend. This correction may be over for now. USD will probably trend up this week particularly against Yen. DXY 1D Timeframe View : We have a strong MACD divergence on 1D timeframe of DXY giving a nice long signal on US Dollar. A falling wedge is forming indicating a nice long term...
I thought I would try another one after publishing an idea on the 4H timeframe, this time I looked at the daily for BTC. I do not trade Bitcoin and do this as a mental exercise, using the same tools / methods I use for trading Forex. You can find the link to the 4H chart under Related Ideas. The currency traded inside a bearish parallel channel for 286 days,...
The GBP/AUD pair has endured a powerful bear market since 2001, however, many correlating indicators are suggesting that we may be close approaching a confirmed pivotal change in the dominant trend. Our first major indicator was the cross of the 50/200 Exponential Moving Averages which occurred in January of 2014. The last time these indicators crossed...
After a big bearish run Gold found support at 1200.00 as far back as June 2013 and has since been stuck in a descending triangle. As price has been squeezed lower we saw a false breakout at the end of September 2014. Since this breakout we have seen price create this descending wedge. More recently price broke out of this wedge, retested the trend line, before...
After a big bearish run Gold found support at 1200.00 as far back as June 2013 and has since been stuck in a descending triangle. As price has been squeezed lower we saw a false breakout at the end of September 2014. Since this breakout we have seen price create this descending wedge. More recently price broke out of this wedge, retested the trend line, before...
Making a trend-following trade as per my last idea. Looks like it's starting to follow through as I'm typing this. $267 is the immediate support. Once that breaks, back to support from the symmetrical triangle that broke up. Stronger support is at $245, so this is a short term idea only.
- TL;DR: GLD in descending triangle similar to that of 2011- 13. Expecting up to 25% decline over next 6 months. - Trade: Short, Limit Cover half @ $98 and half @ $85, Stop Loss @ 124.5 (8%) -OR- Jun 30 113.00 Puts trading $2.91, BE $110 After nearly three years of uninterrupted gains, beginning in late 2008 and ending in late 2011, GLD set a high water mark at...
Directly after breakout out of an ascedning wedge pattern, the SPY is not forming a descending triangle. This is a bearish formation that is corroborated by weak indications from RSI, MACD, and Stochastics
AMZN is a difficult company to evaluate. A lot of potential a savvy CEO but little profit to show for the size of it's business.
It seems this pair exhausted and no more upward thrust. The orange shape shows 1st Bat pattern formed and this push price down nearly 300 points. Now, the second Bat Pattern that comes with same magnitude formed and a thrusting news came out that PayPal supports Bitcoin. If the chart retains potential upward thrust, this news would have skyrocketed the pair since...
The following ideas hinge on price breaking out of the current set of triangles to the down side. We've got two concurrent triangles, one symmetrical, one descending. It is not scandalous to state that our over-all trend is still down since $650. A symmetrical triangle will break in the direction of the over-all trend 75% of the time, while a descending triangle...
This is one of our favorite patterns. It usually suckers people into believing we will see more downside. The larger players will usually dip below the wedge and get new shorts stuck and then squeeze them. (similar to Corn recently) If they break it to the upside we should see a quick move due to weak shorts being stopped. This is high on our watch list.
The Bitcoin price continues to look weak. Volume has generally been light and technical indicators such as MACD continue to decline. I modified this chart from my previous one () in a few ways: 1) Moved the descending portion of the triangle up slightly toward the candle wicks. This lengthened the triangle. I think this better reflected the price action. 2)...