Just as simple as it looks... FX:GBPJPY Broke out the wedge, Waiting for correction to confluence area, fib 50%/61.8, prior swing low and trend-line resistance and pull back to 20EMA.
Seems like NGAS bounced hard forming a bullish channel with a "stairs" pattern. It's currently on the channel resistance so it sould go down by now. We can also see a gap that should be filled at 2.260. I recommend to sell on breakout or just buy the deep with a target to 2.260 gap. Regards and happy trading!
Price breakout channel and looking for next resistance. Pending Order : 1069.00 Stop Loss : 1065.95 Take Profit : 1077.60
Waiting 884 to break to enter long on platinum for long term
Price still in price channel even it open higher today, possibility it will test weekly support 35.14 or daily support 34.43.
Diamond bottom at fibonacci extension 1.618, need to monitor price action at this price zone
Coffee still in Bearish trend in weekly and monthly basis. So its time to take this action to make some profit. I'm watching coffee index and its almost 100% correlated with other coffee futures.
Macd rolls over as price approaches mid range support. A drop below this opens up the price to stronger support. A drop below this and we are looking at a mid .60 handle. MACD is one of the most reliable indicators that is extra strong when used in the context of other indicators.
I had a request from a friend to analyze USD/TRY: On daily perspective I saw a nice classical Elliot Wave with double zigzag till point E correction waves. Before starting the analyze I want you to eliminate the harmonic pattern that I draw there; First we start with trends and the potential of opening trade. PA (Price Action) creates trend and trends give us...
Since Fed's inaction to raise interest rates and the publicatin of very poor NFP data carry and commodity currencies are absolute outperformers. The trend might continue is case of further negative US data publication...
Corn has been diving over the last 3 years since it's peak in 2012. Beside small correction move in 2014, it was pretty much a nose dive that cut corn value in more than half. Since October 2014, Corn has been bouncing around the 22-23$ support zone, which is also the 127 extension for the first part of corn's decline (Aug 2012- Jan 2014). The second time...
LOOKING FOR A BUYING OPPORTUNITY AT MY BUY ZONE WHICH IS IN CONFLUENCE WITH A FIB LEVEL AND A 3RD TOUCH OF THE TREND LINE. A BREAK OF THIS BUY ZONE WILL LEAD DOWN TO MY NEXT BUY ZONE. FUNDAMENTALLY THIS TRADE IS ONLY GOING IN ONE DIRECTION IN THE LONG TERM BECAUSE THE BOE (BANK OF ENGLAND) STATED THAT THEY ARE CLOSER TO RAISING RATES WHICH IS EXPECTED TO BE THE...
I am currently short, the gold to 1180; Then will look for signs of reversal either at this level or when the price reaches the 1-4 line resistance; Watch the price action carefuly.
I still do not like longs on most of ags, unless you aim short term and get orthodox with your stops. Since my previous post about one month ago (see link below), SB11 is keeping its pace moving downstairs. At this point in time I see no signs of reversal, instead, my reading says we are about to “dive the five”. What comes after that remains to be seen. It is...
Crude oil is making new grounds with it soon to come with its reverse pull back, same thing happened in 2009 although there is a possibility that crude can slide to support at 40$. either way i will be easing my way into a positions using the ETF UWTI which is priced very cheaply at 3$ a share. also a big shout out to @Ricker for showing me UWTI
Here is my contribution to the nice ichimoku analysis done by Kumowizard and posted at www.tradingview.com The wave count on the weekly chart reinforces the idea that bears will keep control on the mid/long-term. At this point in time it is pretty safe to assume that intermediate-3 is consolidated retracing the full 2.618 ratio and suggesting this would be an...
The awesome oscillator shows the downward trend is over by divergence between the 3 and 5. The next move appears to be the a-b-c correction that would form a wave A. Fibo ratios are in place suggesting the next possible targets. Weekly chart turning bullish with MACD divergence. I know the big drop today is somehow scaring (good volume tho), so to be on the...