AUD/USD, DAY CHART, SHORT (23-NOV-2016)Overall Downward Trend.
After the price pull back 2 days, here we see a strong bearish bar as a good signal to short now.
EP: 0.73950
SL: 0.75049
TP: 71850
Dailyoutlook
S&P 500, DAY CHART, NEUTRAL-SHORT (20-NOV-2016)S&P 500 is reaching its previous all-time high!
Monitor this index closely.
If it manages to break the Resistance Zone, we are bullish for it.
If there are few bearish signals appeared around resistance zone, we are bearish for it.
If shorting S&P 500, it will be a high risk to reward trade :)
AUD/USD LONG? ENTRY@0.75110 STOP@0.74322 TARGET@0.76717Strong bounce can be seen around the 0.74500 area. Buyers have already made their move upwards, however, to consider this as a viable trade I would have to be sure that buyers are in control of price, and therefore for todays candle to close above yesterday's highs. In addition, be aware of the consumer price index report that may have a big impact on this trade.
GBP/USD SHORT? ENTRY@1.33070 STOP@1.34720 TARGET@1.29729Strong rebound seen here on the daily chart. Before I look to enter this trade, I would have to be sure that sellers are in fact in control of price. Therefore I will keep an eye on the lower time frames to gauge confirmation, and look to enter on the daily time frame.
EUR/GBP POTENTIAL LONG? Entry@0.83997 Stop@0.83283 Target@0.8537A little bit late to the party as price has already pushed up passed my desired entry. However for me to still consider this a trade to take, price would have to retrace back down slightly to a more favoured entry to benefit my risk to reward ratio. In addition, if I were to enter toady it would likely be on one of the lower time frames, but if I were to enter on the daily chart then I would have to wait until tomorrow to ensure that buyers are in control of price (price opens higher than today's close).
AUDUSD - Downside PotentialFX:AUDUSD is showing overbought on the Stoch and the Bollinger Bands, and has touched the daily and weekly supply levels twice. Good reward:risk ratios. 2:1 for TP1 and 4:1 trade for TP2.
Happy Trading
Long term outlook in the AUDUSD - Daily Chart
The price in the AUDUSD is inside a triangle pattern, and whatever be the direction that the price is going to go, the oportunity to trade this pair is huge because the position where the price is.
For the risky traders, to buy this pair it's recommended to wait until the price get close to the A-C line, just below the 144 EMA. But, you have to be cautious in case that the price break out that line in the bearish direction to change your strategy to the sell side. The other way in where you could buy this pair is waiting until the price break out the triangle in the B-D line.
USDCHF MEDIUM TERM ANALYSISUSDCHF giving us signals that it wants to leave downward channel and maybe starting a new one upwards.
DJY - DOW JONES - Long - Daily After Break -DJY is about to break to the upside, unless a deeper correction starts.
Buy after break of consolidation
This might be the beginning of a 1-5 impulse to the upside, if it is not the correction may last longer for an ABCDE
or as part of a larger correction to the downside.
Short-Term Daily Look for a break to the upside to buy.
NZDUSD Daily Outlook + TCT+ Bat PatternNZDUSD has been in a downtrend on the Daily chart for a very long time. We may be in the middle of another retracement giving us a great opportunity short into strength. This will be a Huge trade and would require a 350 Pip Stoploss. But the Reward is over 1,200 Pips. This is an excellent opportunity for a Position Trader as it will take months to play out.
I have made a "Kill Zone" using a variety of technical patterns.
1. We have a Bat Pattern completion @ .7565
2. ABCD Pattern (just barely makes into my kill zone) completion @ .7414 along with the 78.6% Fib Retrace
3. 1.618% Ext - Pulled from lows to B leg of Bat Pattern. It has a nice confluence with the Bat Pattern
This will be a HIGH CTS (Combined Technical Score) trade IF market will push back up there.
Best of Luck!
S&P 500 Daily Balance Area BreakdownEvery time the S&P has made a Balance area at it's all time highs it has sold off hard.
We just broke the most recent balance area to the downside again.. Looking for a bear run for quite some time. I fully expect market to revisit 1850's again, just given previous patterns.
Best of Luck
AUDUSD could retrace to 0.73/0.725 on a close below 0.7450Australia dollar is starting to retrace its gains after flirting with 0.750 resistance. A bearish close today below 0.745 could see the declines extending back to the price zone of 0.73 - 0.725. Establishing support here could pave way for a new leg in the rally back to 0.745 and eventually to 0.76.
Gold inching higher. Daily close above 1248.55 could be keyAfter briefly testing sub 1200 levels last week, Gold quickly reversed its losses after Friday's NFP report. Monday/Tuesday was relatively flat but today's price action showing some early gains. Above 1248.55, 1260 remains the next key level to target.
But a pullback/correction is missing
To the downside, 1230 - 1220 levels could act as support. Forming a third consecutive low here (after 1199.55 and 1206.88) could signal a near term strength to the upside.
EURUSD formed an inside bar - Breakout in the making?After rallying strong on last Friday's NFP print, EURUSD has remained flat on Monday/Tuesday, forming an inside bar at the top end of the rally. A breakout is therefore likely to set the direction in the near term.
To the upside , 1.140 is the key level to watch, a break higher could extend gains above 1.140 but keep prices range bound below 1.15.
To the downside , 1.130 is the key level to watch out for which could see EURUSD slide towards 1.120 and to 1.10.
For you Fib fans, 1.1418 remains the 61.8% retracement level of the previous decline from 03/05 highs of 1.16163 and 30/05 lows of 1.10978.
NZDUSD shoots above 0.70 as RBNZ holds rates steadyThe RBNZ did not cut rates yesterday and did not jawbone the Kiwi's exchange rate. The resistance at 0.70 has now been breached convincingly and any dips to 0.70 could remain a buy, if validated by price. To the upside next level of interest is 0.72, July 10, 2015 high. But looking the Stochastics here, there is a strong hidden bearish divergence which signals to a correction, validating the view that NZDUSD could slip to 0.70.
0.72 could be likely achieved only if support is formed at 0.70. For the moment, weak long positions above 0.7127 could remain at risk for a correction to 0.70.
Technically, support should have been established at 0.69 but the lack of this could mean a possible slide to 0.69.
Personally, I wouldn't be looking to go long at 0.70, especially with a risk of a dip to 0.69 looming.. unless the technical narrative changes. FOMC is up next Wednesday, 15th June.
Trading idea: lower time frame chart could signal a counter trend short opportunities.
GOLD Daily: Ready for next move up?After a major reversal on the weekly unfolding in a nice impulsive move upwards on the daily chart, a divergence showed up in the daily Gold chart, sending prices down over the past few weeks. They have dropped below the balance zone and took Momentum below 0, indicating a major correction. Now a new buy fractal signal has been formed. If it's hit, it could be a good entry point for Gold to reach a new high above $1282. This trade would occur in the overall trend direction (weekly), which would then also keep moving in what might be the new trend direction (long!)
USDCAD Shorting opportunity in the NEXT 1H!-USDCAD is oversold on most RSI 1,2,3,4hs
-Approaching 0.764 fib level
-Short term resistance
Looks like a decent place to go short!
Safe and Successful trading
NZDJPY - Daily AnalysisSupport and Resistance zones for NZDJPY with Fibonacci levels to keep an eye on. Price has recently bounced lower from the 50% Fibonacci level, with price currently experiencing a small bounce on the edge of a key monthly support zone.
EURJPY Daily Chart w/Bat PatternThis is just a outlook for the EURJPY over the next couple of months. I'm more of a swing/day trader and focus mainly on the 5/15/60min charts. However, I do zoom out to the Daily everyday & the Weekly & Monthly once a week. It's good to see where the underlying trend is so you know which side you want to be more aggressive on at KEY levels.
Right now, BIGGER picture, EURJPY is in a Downtrend. However, we are currently recovering off multi-year lows in the form of a complex pullback. So when I'm swing trading down on the 60min chart we are in a Bullish uptrend as we Retrace on the Daily time frame... Follow me? It's important to keep that in mind.
With all that in mind... I'm looking to buy pullbacks down on the Lower Time Frames (5/15/60min charts) until we get up to the Kill Zone where my bias will shift to neutral/Bearish (I will explain that in moment) since we will be at an important decision point in the Market. By that I mean; will the bears take back control and push the market back down in trend? Or will the Bulls fight for control and reverse this long downtrend? You can think of the Kill Zone as the Bull/Bear Zone. By default we do have to give edge to the Bears inside that zone because we are in a downtrend, so that's why my bias will be neutral-to-bearish.
More Technical's - There's a Bear Bat that forms inside the Kill Zone. An ABCD Pattern completes right at the bottom of the Kill Zone.
Happy Trading!
Kenny Pate
USDJPY ANALYSIS (DAILY)Daily analysis for USDJPY showing some potential support and resistance zones.
S&P 500 now to Feb 29Above is a daily chart of the S&P since the beginning of its apogee phase.
Still short the S&P for next few days. Based on Fib time zones analysis and the current trend pattern we may hit 1863 on Monday then rebound or a more violent move down to 1803 on Monday (Feb 29) then a rebound.
Two Fib time zone patterns starting from the same low date of Oct 15 2014 (@1821.61) converge to the same pivot point next Monday Feb 29.
NZD/USD Daily Short Set UpThe pair has rejected a break of the daily trend line and is expected to begin a decent down to the 0.65500 level with further downside to 0.65000 open. If the pair does form a candle with the body of the candle below the trend line it should confirm a move to the downside. Trade carefully and good luck!
