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ORBEX: Correction Could Take Prices Lower Before Bullish "Three"The correction seeing on USDJPY could let prices fall a tad lower, providing a better structure for minor A. This should be followed by a "three" correction, where minor B is going to offer some buying opportunities in the short-term before sliding lower towards the golden Fibonacci retracement level of 106.67. Better remain patient for minor B to complete! Trade safe Stavros Tousios Head of Investment Research Orbex This analysis is provided as general market commentary and does not constitute investment advice
Long
by Orbex
XAUUSD updateThe previous chart I shared on this instrument was the abc set-up that works pretty good most of the time. That being said, there is no kind of guarantee that price will move as mentioned. Always use equity stop losses that are realistic and ultimately at previous high or lows. Then manage the risk properly, use trailing stops or do soft profit taking at previous key support/resistance levels. The last abc setup that didn't go as expected, ended up as a potential harmonic bat pattern. This setup, which also did not go as expected, turned out to be a bearish butterfly pattern, by Larry Pesavento. This confirms the methodology I have shared for the particular abc setup, which is giving a short term bearish bias. Bearish divergence on hourly timeframes Strong rejection at D point, alot of bearish candles to confirms bearish strength. Meanwhile RSI strength is fading and showing signs of weakness. I am going to wait for a pullback and sell short for a quick scalp if price happens to find resistance below 1515 hoping for some extended targets at 127% or 162% XAD projections. More optimistic targets can be up to 262% projections. As always thank you for all the support, please keep it coming with a like and if you have any ideas make sure to leave them in the comments below Dont forget to check the related ideas below
FX:XAUUSDShort
by MikulovicFOREX
2
gold short term pullbackAs i shared in the previous chart on EU, I like to look for a retracement and follow up with the projections. If I see price find support below 38% im expecting a reversal of the impulse. If price finds support above 38% im expecting a continuation. To confirm a continuation of the impulse , I like to see resistance at 11% projections, which happened to be the case with this chart. Also it does not hurt to see any kind of divergence to stack up the probabilities in our favor. If you look at a hourly chart its very easy to see. Alot of gaps to be filled aswell. Ill keep these charts coming, make sure to leave a like and comment with any ideas below. God bless and happy trading
FX:XAUUSDShort
by MikulovicFOREX
1
EURGBP update (harmonic bullish crab)Here we see EURGBP in a descending channel with the sellers in full control, forming lower highs and lower lows adding selling pressure to the market. Now we are trading in a small expanding descending channel, suggesting that the sellers are stepping out and potentially booking their profits. This gives room for a bullish scenario, and im speculating that the bulls are going to go for another rally up. Late in October I was speculating in a bullish harmonic crab pattern. Some people have their own idea of harmonic patterns. The software I use comes from Scott Carney himself at harmonictrader.com. Its the guy who discovered the patterns and has since then trademarked them. Almost 20 years have passed since he did so. heres the chart: Im expecting prices to break both channels and from here I am looking to see a shift in the trend direction. In order for that to be happen we need to see a break above the resistance at 62% abc projection. I've also noticed the divergences, which is telling us prices are dropping on rising momentum. This typically indicates the the buyers are stepping into the market, buying at discount prices. The abc projections shows key support at 1.27-1.38 extensions is holding and prices had a nice reaction to those areas. This tells me that the support is more likely to hold and drive prices up to where we initially want them to be. This is a trade I did on Monday. Usually a pullback is followed by these set-ups, but if not, its a strong sign that prices are going to continue rallying up. In this particular trade we did not see a significant pullback, which is telling me the probability of prices rising are greater. Thank you for reading the analysis Please dont forget to like the chart and make sure you put your comments in the section below. God bless and happy trading
Long
by MikulovicFOREX
UJ weekly outlookWelcome to a weekly outlook on USDJPY. Here we are going to come up with a clear picture using my personal experience with technical analysis. I have spend countless of hours looking at charts, trying to come up with a reason for price movements. For a long time I thought, if you had the ability to forecast the markets, it would automatically turn you into a profitable trader It took me years of effort, but I've spend all this time only to find out that I was completely wrong and have been wasting my time, since I never wanted to become a technical analyst. I wanted to be a trader. Being able to forecast charts has absolutely nothing to do with trading. And I have happened to learn it the hard way, which was totally unnecessary in order to reach my initial goal and dreams which was becoming profitable in the markets, not by chance, but by technical analysis. It's a fact that most technical analysts do not trade their own charts or make their money trading. They simply deliver the analysis and the trading team will make their own decisions, based on that particular analysis. When I first heard of that, I couldn't believe what I was hearing. It just didn't make sense in my head, why would they not be able to trade their own analysis. Now I finally understand why. Because one thing is being able to analyze a chart, another thing is to trade it. Most people simply focus on trading strategies, but they are missing two of the three components there is to trading. 1: is a trading strategy, which is what everyone focuses on. 2: is a trade execution plan, knowing exactly when and why to get both in & out 3: is a risk management plan, knowing exactly which position size you are taking and how much risk you are willing to put on. Now there are 4 ways to manage risk: You accept You mitigate You eliminate You transfer In trading we have to first: accept the risk and then mitigate the risk. We do this by simply keeping our position size to a maximum of 1%. By doing this we are safe if spikes would occur or if any news related event happen to go against us. Not only do we keep our position size to 1%, we also make sure our stop loss value is equal to 1% of our capital. We are giving ourself a 100 shots before we need to reload or deposit more money into the account. Now by winning more then we are losing, we have basically rigged the game. What you are looking at is a descending triangle. Typically descending triangles is a continuation pattern, which means they mostly occur in a downtrend for descending triangles and in an uptrend for ascending triangles. When a descending triangle occurs in a uptrend it is no longer considered as a continuation pattern but as a trend reversal pattern. Divergence also show prices rising on falling momentum, which is generally a sign that the buyers are not willing to pay higher prices for the particular asset. Smart money is fading out. Now I like to base my trading decisions on strong support/resistance levels. I use fibonacci retracements, extensions and projections to find these levels. Usually I like to see a move equal to or larger then 50% projection, and look for a pullback towards 11% projections. I have found price react best to these set-up, which makes up the best low-risk high probability trading set-ups. Thank you for reading the analysis Dont forget to like the chart All support appreciated and needed, please keep it coming. God bless and happy holidays
Short
by MikulovicFOREX
2
NZDUSD short term pullback before long term rally-upI have anticipated the rise of New Zealand dollar versus US dollar using a weekly chart which I will share in the related ideas below. Due to the extreme rejection around 76% of ab leg, I am now expecting the resistance to kick in and drive a pullback towards 38% extension of abc, which is very close to the broken resistance and should now act as support. Overall this market is bullish, but right now we are seeing extremely overbought prices. Going down to the 4 hour timeframe, I was able to locate two bearish candlestick reversal signs: First we see a Dark Cloud. Consisting of two consecutive candles, the previous candle makes new highs, then the second candle exceeds these highs but is rejected and closes below 50% of the previous candle range which is a sign that buyers have met resistance and the sellers are taking control. This was followed by a Bearish Engulfing pattern. In this case the Engulfing pattern took out the previous 4 candles low, which signals weakness and confirms that sellers have taken control. Thank you for reading the analysis and thank you for supporting my channel. Make sure to like the chart and state your comments in the section below God bless and happy trading
Short
by MikulovicFOREX
1
GU abc set-upHere we see a chart very similar to the one I shared with GBPJPY Price failed to retrace above 50% of the AB leg, which signals a continuation of the trend. Momentum is already diverging with price We could potentially be looking at a ab=cd, but that is very optimistic More realistic profit targets would be: 1.348 (38% extension) 1.359 (61% extension) Completion of ab=cd will be just below 1.377 Thank you for your support, make sure you like the chart and write your comments in the section below Thank you for reading this analysis God bless and happy trading
Long
by MikulovicFOREX
Dow Jones should become interesting in the red area Afters Monday´s sell off it the red area (50-76.4% retracement) is on my focus. At the moment we have seen a first shy pull to the upside. This move has not yet a 3-wave structure therefore we could correct a little bit but then see a deeper pull into the red area in form of a C-wave. After a clear 3-wave corrective move up ABC into the red area the index would look interesting for a short swing opportunity. Stay tuned for more
TVC:DJIShort
by JonasBenjaminFriedrich
ABC - DAILY CHART Hi, today we are going to talk about AmerisourceBergen and its current landscape. The opioid crisis has been plaguing the U.S at the most for nearly two years now. With scary numbers like the record of 47,600* overdose deaths caused by opioids in 2017 but the number seems to start slowdown since 2018 were the war against opioids gained some traction. In the justice field, some companies have already faced some sort of rebuke for involvement and even a bit of responsibility for the opioid crisis. For example *Jun 2019, Insys Therapeutics Inc. had to file for bankruptcy after being convicted for conspiring to bribe doctors to increase opioid sales, ending up in a deal with the federal government of $225 million. * Aug 2019, Johnson & Johnson was obligated to pay $572 Million, as Oklahoma ruled that the company intentionally played down the dangers and oversold the benefits of opioids. * Oct 2019, Johnson & Johnson was once more condemned by two counties of Ohio to pay $20.4 million, with the accusation of having helped the opioid crisis to spread. Now, the drug distributor AmerisourceBergen , is under investigation by the Federal Prosecutors in Brooklyn, into whether the company intentionally permitted that flood of opioids on the community. For now the U.S. Attorney’s Office in the Eastern District of New York it's just issuing subpoenas, but if they case sticks we might see what the murders of Julius Caesar saw, a pile of fire and anger from the people, so big that like Caesar butchers that were cast out of the city, the companies involved on this process can be drowned in liabilities and fines with the risk to be so badly damaged that may have the same fate of Insys Therapeutics Inc. The war against opioids it's just poised to grow up as every justice department across the country and every candidate that it's next to run on elections its eager to hang this trophy on the wall. *Source: Centers for Disease Control and Prevention (CDC)
A
by Igor-Silva
20.11.2019 - Dash (DASH / USD)Hi Traders! Today we are looking at cryptocurrency Dash. We chose it deliberately because we see an interesting opportunity in it. We can read a clear bounce (impulse) on the chart, that came last month. Since then, Dash has been moving in the channel. Dynamics, growth and angle which we grew under are much steeper than the decline. In addition, this decline is in the channel. We would be able to annotate the whole decline as ABC correction that could be finishing right now, why? 1. We are currently at 0.786 Fibonacci level of all the growth 2. The bottom edge of the triangle 3. There was already a smaller bounce-off 4. RSI is in the extreme zone This is a watch zone where we keep an eye on how charts behave. If we break downwards, it's very bad. We are currently on a potential bottom, which may represent a good opportunity to buy. May the crypto be with you!
BITFINEX:DSHUSDLong
by DolleroTechnology
AUDUSD Getting Ready for Next Wave HigherAUDUSD is currently finishing a corrective wave and getting ready for the next wave up. The sell zone on the chart would be a good place for a short term sell for 30-50 pips. Take profit (TP) 1 is also our buy minimum which is confluent with the fib cluster of 38.2% & -27%. TP 2 is our buy maximum which is confluent with the -61.8% & 50%. TP for the long is the -27% extension at 0.69250 100-120 pips away from our long entry points. This is for educational purposes only. This is in no way intended to be financial advice. I am not a financial advisor.
Long
by csohrab
2