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ridethepig | CNY Market Commentary 2020.02.16On the technicals there is little to update while the resistance holds, despite the bounce via PBOC intervention on coronavirus risk flows. The only level in play to the topside is 7.0248 as it caps the highs in the current wave. Anything above will unlock a leg towards the next barrier at 7.0733. The coronavirus short-circuit sadly temporarily disrupted the USD devaluation / reflationary growth theme. I am still holding shorts and active looking for a test of the 6.825x. Anything below that will open the floodgates for the major break: As usual thanks for keeping support coming with the likes and comments, we'll open up the short-term flow after the Tokyo open in the comments below for those trading live!
Short
by ridethepig
Major Reversal In Play For CNY - A Must Track!!A good time to update the CNY chart with US away from their desks for thanksgiving. Both sides rolling back tariffs means that CNY has unlocked the gates for a retrace towards the key 76.4%. On the monetary side, updates from PBOC who continue sitting on the bid and are unlikely to change stance and keep CNY strong against the crosses, and as long as this remains the case the highs will be capped. Risks to my thesis come from another escalation in protectionism. For Chinese Equities the important and key 2793 is back in play again: Those following previously will remember trading the breakout to the topside, which is now clear was the final exhaustion leg. A textbook one to track for those wanting to dig deeper: For the technicals we are tracking a similar leg in nature to the sell-off in 2017, initial looking to target 6.9xx with extensions as low as 6.6xx and 6.4xx. While to the topside invalidation will come via a break of the highs. Best of luck all those on the CNY bid, jump into the comments with any questions and your views on CNY!
Short
by ridethepig
$NEO possibly finishing 25% moveOn the smaller time frame, NEO has made a double bottom in its descending channel. This could potentially send it up to the higher part of the channel to eventually complete its bull flag by breaking through resistance and finally meeting around the .0017 barrier. Volume is increasing (more noticeable on higher time frames). Keep in mind a double bottom on a smaller time frame doesn't have as much power, but it could potentially. Stoploss at or around .0013. Trade wisely and take this idea with a grain of salt as you should with all trading.
by BikBookly
ASUKA TIME IS RUNNING OUT 4 $btc BITCOIN's legendary prophecy! Is the Asuka prophecy still in play? In my video we look at the historic accuracy of the Asuka Prophecy as time is running out for the latest prediction. this one is getting interesting though as the chinese president gives a green light to crypto and Edward Snowden tweets the smug asuka used in the prophetic post from 4chans /biz/ Currently we'd need more than a 60% move upwards over the next 4 days for the post to remain true. as of now it has been correct an amazing amount of times. Do you think its possible? anyway I made a deeper video looking at the post and its relevance and we will have to see how the next few days play out for Bitcoin. www.youtube.com
BITFINEX:BTCUSD
by xueq
Strong Close but Can FFHL Continue Higher?HUGE day today but I'm not sure if this news is enough to make a reason to keep this on the radar or not. I'm sure after today, the weekend warriors will notice this volume and price move. "This is what happens when penny stocks release news afterhours. Just because the closing bell rings at 4PM EST, doesn’t mean you stop watching the market. Those who had access to aftermarket trading on Thursday could have reacted to the companies latest announcement. FuWei reported its quarterly and 6-month results, which seems to be the spark that lit this fuse." From Top 3 Penny Stocks To Watch On Friday on PennyStocks.com Results: FuWei reported 10.7% growth in sales compared to the same quarter last year. It also saw EPS come in at $0.04 per share versus last year’s period of a $0.4 loss per share. The company’s plastic film products are widely used for food, medicine, cosmetics, and even tobacco. NASDAQ:FFHL
F
by PennyStocks101
EU Elections, the USA isn't ready for peace & RF monetary policyIt is not surprising that nothing significant in the dynamics of prices for financial assets occurred duo to calm mood on the USA and the UK financial markets. Tuesday in terms of macroeconomic statistics also promises to be a very calm day. But we do not wait for a lull in the markets - after 3 days of rest, traders and investors with redoubled efforts could begin to follow current trends and news background. The main news on Monday was the announcement of the results of elections to the European Parliament. The main parties of the European Union retained their positions. And the main fear, the victory of the populists, turned out to be only a fear: Euro-skeptics and the ultra-right took 171 places in total, against 503 places of four pro-European parties. In this light, we believe that our position - buying the euro against the dollar - is one less threat. Trump went to Japan over the weekend. According to him, the United States has achieved "significant progress" in trade negotiations with Japan. But it is not necessary to count on any final deal upcoming days. Nevertheless, this kind of information rather favorably and reassuringly influenced the mood of investors and traders. As for the main front of trade wars - between the United States and China. Trump said that the United States is not ready for the current version of the deal "and that it is not easy to pay duties to Washington for Chinese authorities, therefore they will agree to conclude a trade agreement with the United States, in the end. So the United States will continue to push. Quite interesting information about the Russian ruble was recently shared in Bloomberg. Experts at Bloomberg Economics believe that the Central Bank of the Russian Federation will lower the rate on June 14, and then again in September and December. So, after a rather long period of inactivity, the Central Bank of Russia is entering an active phase of easing monetary policy. What does this mean for the ruble? That it will become even less “attractive” for foreign investors. We consider such information as confirmation of our basic trading idea - the sale of the Russian ruble. Considering that recently the Russian ruble has strengthened, we believe that its sale is more relevant than ever. Since nothing special happened yesterday, our trading positions did not change: we will look for points for buying of the euro and the Canadian dollar against the US dollar, sales of oil and the Russian ruble, as well as buying of gold and the Japanese yen. In addition, we will carefully buy a pound.
by Trade24Fx
I have Ucad mapped out for the WEEK, here take a look!After careful review of the USDCAD currency pair, I have been fortunate enough to create a perspective for the entire week ahead. I see the USD first recovering against the Canadian dollar with the oil p [rice playing a major role in this move, followed by a midweek reversal which is likely to come in play on Wednesday or Thursday, with the release of key economic data. The Us president is currently in Japan making negotiations and china is looking to de-evaluate the YUAN. So this week should be very interesting. Happy Trading and Manage your Risk! The Urban Genius
Long
by UrbanGeniusOfficial
The last days of Theresa May, more trade wars, worst week of oilThe previous week was tough for financial markets due to the escalation of the trade war between the USA and China, which, moreover, have taken new forms like US attacks on Chinese technology companies. At the same time, the White House is not planning to stop. The tariff epidemic will spread to other countries, primarily those of them whose currencies are artificially undervalued. Recall that the undervaluing of the national currency provides a powerful competitive advantage in international trade. In general, things rapidly get worse. We noted that this confrontation may become a new reality, in which it is worth getting used to living in now. Another key event was Theresa May’s resignation. The inability to provide Brexit provoked Theresa May's resignation. She will remain in office until June 7, when her successor will change her. Most likely Boris Johnson will be. The pound, as we announced in Friday’s review, has grown due to this news. That only confirms the loyalty of our vision and recommendations. So this week we will continue to look for points for buying of the pound, including the medium-term position. The previous week was the worst for oil for the entire 2019. The reason is the exodus of investors from risky and commodity assets amid fears of a sharp slowdown in the global economy. This scenario was viewed by us as a baseline, and from the very start of the last week we recommended oil sales. So those readers who followed our advice should have made very good money. On Thursday alone, oil lost about 6%. About the upcoming week, we note that its main events, perhaps, will be the announcement of the Bank of Canada decision on the parameters of monetary policy, as well as data on US GDP for the first quarter (revised). For the rest, the trade war will remain in focus. As for today, we are waiting for a thin market and potential spikes in volatility on level ground. So you should trade carefully. Our trading positions for the week did not change much: we will look for points for buying of the euro against the US dollar, sales of oil and the Russian ruble, as well as buying of gold and the Japanese yen. In addition, we begin to buy a pound.
Long
by Trade24Fx
Making money, another quiet weekAnother quiet week in the foreign exchange market is over. Traders and investors are getting used to calmness. Although each in such conditions behaves differently. Some optimize trading strategies for existing conditions. Others go to emerging markets where volatility is high. Accordingly, the carry trade is back in fashion. You can use temporary imbalances in capital flows for the purpose of speculative earnings. The most obvious trading strategy is buying of developing countries’ currencies with a high-interest rate of the Central Bank in exchange for the currencies of developed countries with a zero or even negative rate so earn on the interest rate differential. Indian rupee and Chinese yuan can be mentioned as the most obvious buying candidates. And you can sell the Japanese yen and the euro. For those who decided to continue to trade the "majors" in the foreign exchange market, we would recommend dramatically increasing the aggressiveness of trading. In the absence of directed movements, even oscillator works as extremely efficient. Another option is to earn money with options. Obviously, the period of ultra-low volatility cannot last forever and sooner or later the markets will “shoot”. In order to make money on it, you can use basic option strategies, for example, buying both put and call options in the hope of a strong move no matter where (options strategy is straddle). Considering the extent to which option premiums have fallen in price, this strategy may well lead to super-profits. Returning to the news background, we note that this week will be pretty calm. Bursts of volatility are possible in yen pairs. The fact is that on Thursday the Bank of Japan will announce its decision on the parameters of monetary policy, and on Friday a whole block of important statistical data from Japan will be published (data on the labor market, inflation, industrial production, and retail sales). As for our trading preferences, we will continue to look for points for selling dollar in the foreign exchange market (with the exception of USDJPY, which we are still buying), buying of gold and oil in the commodity markets, in addition, we will continue to sell the Russian ruble.
Long
by Trade24Fx
Good news out of China, EEM Should be Up TodayEEM is mostly made up Chinese A-shares meaning this ETF is primarily dependent upon data coming out of China. Recent data is quite promising while the US-China trade war negotiations continue to show positive developments. Exports data coming out of China is positive this morning, moreover the US will not keep on putting pressure on China politically according to Bloomberg. Also, data suggests the trade surplus increases while credit growth beats estimates. Could see 3 to 6 percent increase in Shanghai on Monday if all else is equal. Bottom line is EEM could be up maybe 1 percent today given the positive news and sentiment coming out of the Middle Kingdom.
AMEX:EEM
by WhiskeyTangoFoxtrot3
Long NioSolid Company, Strong backing and we got some great supports At this area. Long at 5.80s, stoploss $5.30s, take profit $7.98s. I have seen this stock bounce around this area multiple times, and ran up. it's a luxury car company in china, with strong backing from Tencent(they are like Berkshire capital of china) as they own 20% stake. This is the same company that once saved ATVI back in the days when it was a just some under $15 stock and infused them with enough cash to make them the gaming giant they are now. I highly doubt Nio is going to under soon. They are the closest to competitor to Tesla in china.
NYSE:NIOLong
by WallSt007
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