Gold descending wedge breakout + retest? **Drag chart across to view text
**Ascending wedge arrow should be "descending wedge"
TECHNICAL
Reason 1:
Pattern: Ascending wedge
1. Broken out of ascending wedge sideways
2. Retested ascending wedge upper descending trend line on 15/06/2018 during selloff
Reason 2:
-RSI oversold at similar levels to in the past
Reason 3:
-At lower limit of daily bollinger band
FUNDAMENTAL
-US trade war escalating with china, canada, france
Still fairly new to trading, appreciate any comments, tips etc. Just an idea. I am not advising to place a trade
CFD
ICON seems to have build a bottom @0.00025 Thnxforthe tip aidanbI invest in Crypto currencies and I trade CFD's. When you want to invest in crypto, I advise you to buy 'real coins' because on long term that will give you far more profit than speculate the chart with CFD's. I have bought Bitcoin, Bitcoin Cash, Ethereum, XRP-Ripple, ReddCoin, FeatherCoin, Adcoin ( ACC ), Bunny Token and looking for others every day! Bunny Token gave me good profit so far! I bought these in Pre-sale. I expect this is going to become huge!
Interesting coins, which I am looking to buy:
- EOS
- QASH
- Bitcoin-Gold
Do you have some good tips for crypto coins? let me know!
-------------------------------------------------------------------------------------------------------------------------------------------
My strategy
My main strategy is called 'cycle-trading'. After years of learning and practicing after I bought a teaching-package from a visionair, I found a way of how to trade successful with CFD's on the stock-market. Every stock is following an certain cycle which repeats itself. So, movements are often appearing in the same percentage, aswel long as short. This cycles appear at all levels; when you analyse the chart at 1 month, 1 week, 1 day, 1 hour. (others I don't use). This is the case, because all in life is build by the fibonacci sequence. When you analyse the chart, you'll also see the stock market is behaving itself as the fibonacci sequence.
How do I decide to open a position or not? First I analyse:
- Sentiment on the market
- Own created indicators
- Moving-averages and Bollinger-Bands
Trading means investing. Sometimes you lose more than you win in the beginning of a period!
Don't forget to follow me, so you get updated when I post new analysis. Also read my account to be informed about what I do.
Thank you for following and Succes with trading !
Richard from Rich.Exclusive.Trading
Bull Run Under Pressure. New Trend?With the rumor of possible boost in production from the OPEC and Russia as well as US over supply, Was 73.00 the top? We'll know after the meeting on June 22.
We're now at the 78.60% are which has a strong resistance level. Is this valid?
Entry: 66.00
SL: 67.00
TP1: 64.00
TP2: 63.00
Silver - Bearish pin bar sell signalA large bearish pin bar candlestick has formed off of a key resistance level in silver. Price has been mostly trapped within a sideways range for a number of months. Only once back in April did it try to break it which failed. This is another failed attempt at a bullish breakout and could see price falling lower in the coming days. These are the exact types of candlestick patterns from the exact levels that we want to be looking for and trading. One potential entry we be selling at 16.80 on a 50% retrace of the pin bar, or for a safer entry (with a smaller profit potential) would be to enter on the break of the pin bar at around 16.63. These numbers may vary depending on if you are trading silver using mini futures, micro futures, etf, or CFD. In any case a 50% entry and an entry on the break are 2 common ways to enter a trade from a candlestick signal. The near term support is 16.20-26.25 which would make for a potential profit taking level.
Nifty going down to 10200?Nifty appears to be correcting in an ABC pattern (bigger pink wave). It has completed the A wave and is currently going up in the B wave. B wave is expected to first first take Nifty down to around 10500 and then up to around 10730 (or at the most 10850) where wave C is expected start. Wave C could take Nifty down to 10220 though this level would also depend on the level of correction in wave B. Stay tuned!
Note: It is just for my own reference and is not a trading advice.
Morning Star setup from a pullbackCorn is in both a short and long term bullish trend. While the setup isn't perfect, it does offer a compelling buy signal in a currently bullish market. The Morning Star formed off of a pullback signally continued buying strength and is in line with the overall market strength.
SPX outlookAnother rebound off the 200dma, sets the SPX into a range between the 100&200dma, and also between 2 trend lines. CPI data tomorrow will determine whether we break to the upside, or push lower for another retest of that key 200dma support. Also good to note that the ~60 RSI level has not been broken on any bounce off the 200dma.
Platinum - Bullish BatWhat's up guys, here's a setup I've been looking at for a while. I'm not a position trader- I don't like to hold trades for any longer than a couple of weeks max. That aside, I have saw this pattern coming for almost 2 months since the B level was broken (one could have BAMM'd it!)
Here we have a bullish bat formation on platinum. The support level where the pattern falls has not been broken since 2016, and even that was brief. Since the chart in front of us began back in 2006 price has not been below the current support level for any longer than one month. For a precious metal of which there is less than one swimming pool on earth, price seems to be pretty low. This my prove to be a reasonable level for anyone looking to hold platinum long term.
Bat Ratios
B = 0.382-0.5
C = 0.382-0.886
D = 1.618-2.618
X to D = 0.886
Why $70 Oil Makes A Good Selling OpportunityYou can bet against the trend and lose your money. Or you can bet on the algorithm and make money. Today we look at the Crude Oil's future, literally. At $70 per gallon, crude seems way overpriced - at least to my estimated value which in my opinion should be right around $60, if not less. Let's watch what the market do.
XAUUSD (Gold) 4hr tf analysis:Patience requiredThe price swing in XAUUSD (Gold) from ~$1310.23 on March 20,2018 to a close of ~$1358.21 on April 11,2018 is identified in this analysis as a 3 wave move (corrective) with the possibility of a Minor wave degree (wave A) terminating on April 11,2018. This Minor wave is part of a combination (WXY) Elliott wave structure that commenced on January 25, 2018.
If this is indeed the case that Minor wave A is complete, XAUUSD is currently in a Minor wave B which can be very difficult to deal with as it is a reactionary wave and therefore can change its shape at anytime and without notice. The best thing to do in this case is to stay away and wait for further development in price action.
FeatherCoin seems to hold Fib 0.618%. Long to 0.257! and 0.315!I invest in Crypto currencies and I trade CFD's. When you want to invest in crypto, I advise you to buy 'real coins' because on long term that will give you far more profit than speculate the chart with CFD's. I have bought XRP-Ripple, Bitcoin, Bitcoin Cash, Ethereum, ReddCoin, FeatherCoin, Adcoin (ACC), Bunny Token and looking for NEO! But wait NEO to buy, because price seems to go to 30.00 first.
-------------------------------------------------------------------------------------------------------------------------------------------
What about my ' Cycle phenomenon' ? read here:
My main strategy is called 'cycle-trading'. After years of learning and practicing after I bought a teaching-package from a visionair, I found a way of how to trade successful with CFD's on the stock-market. Every stock is following an certain cycle which repeats itself. So, movements are often appearing in the same percentage, aswel long as short. This cycles appear at all levels; when you analyse the chart at 1 month, 1 week, 1 day, 1 hour. (others I don't use). This is the case, because all in life is build by the fibonacci sequence. When you analyse the chart, you'll also see the stock market is behaving itself as the fibonacci sequence. But, still the most difficult part and what it's all about, is where does a long or a short start? and which point is telling you that the cycle is started, so that you know it will probably go to the next fibonacci resistance? .... therefore I have developed some own indicators!
The exact positions of where to open, to close and the stop loss position and take profit position is very important to be successful with trading!
My strategy is to never trade on volatile markets. You will lose your money when you do! Trade on technical-chart analysis! not on news and volatility!
One of my other strategies is that trades are only interesting and ‘safe’ to open when: you can possibly lose 1/3rd of the possible profit. So; when you set the indicators after analysing resistances, and you can lose 100 but win 300, it is worth the try!
How do I decide to open a position or not? First I analyse:
- sentiment on the market > are people in buy mode or short mode
- I have some own created indicators, some I show in my charts. Therefor I use the fibonacci sequence. My indicators tell to open a position or not and in combination with other own created indicators I decide where to place the stop loss and take profit positions.
- and this own indicators tell me when probably a new long position starts or a new short > these are the positions where I place my orders! or open directly.
- and again other own created indicators tell me how far long or short it probably goes. The take profit and stop loss positions are other positions than the resistances in the market!
- the moving-averages and bollinger-bands are very important indicators also. They are helping a lot! by making decisions.
And that is Why I win more than I lose in the end. Patience is everything, we’ll wait for the right moment! But don't forget; trading means investing. Sometimes you lose more than you win in the beginning of a period!
Most of the times the sentiment changes on Monday! please consider that when you start a position on Monday. Tuesday, Wednesday and Thursday are on steady markets normally calm trading days. Than, my strategies work at their best!
Don't forget to follow me, so you get updated when I post new analysis. Also read my account and the 'status updates' to be informed.
Thank you for following and Succes with trading !
Richard from Rich.Exclusive.Trading
NVIDIA INDECISION!Right, I believe that a bullish stride on this stock is more than probable however we need to take into account the possibility of a false breakout.
We could potentially see prices rise to the upside target of 270.00 which is very achievable.
HOWEVER.
We need to also note that prices could break out of this ascending channel down to lows of 150.00 .
LET'S SEE WHAT HAPPENS NEXT, UPDATE COMING VERY SOON!
XAUUSD (Gold) descending triangleThe 4hr tf chart of XAUUSD (Gold) shows that price has been meandering ever since Gold made a high of ~$1,365.95 on January 25, 2018.
The chart pattern that best describes the meandering price action of XAUUSD (Gold) since January 25, 2018 is a descending triangle. This chart pattern ideally has bearish implications, but not all the time. This implies that a breakout upwards for XAUUSD is also possible.
In either case, a downward breakout outside this descending triangle can see price of XAUUSD reach ~$1,247.95. This is calculated based on a downward projection of the width of the chart pattern and subtracting it from the breakout point (breakout in this case is ~$1306.95)
Width of the descending triangle is shown by the light blue line and is calculated by taking the difference between the high and low of price (i.e. $1,365.95 - $1,306.95 = $59)
In the case of an upside breakout, the width of the descending triangle ($59) can be added to the breakout point above the triangle. In this analysis, I used the breakout price of ~$1357.73.
Projection of termination of XAUUSD for a breakout above the triangle therefore = $59 + $1357.73 = $1,416.73
P.S. Analysis was carried out using FXCM’s data so projections may vary slightly depending on your broker.