Andrews Pitchfork Short + multipivot line corelation + divergencThe following methodology on the chart is action and reaction by Alan Andrews. As for MACD and OSMA indicators, they are showing signs of possible bearish divergence.
Moving Average Convergence / Divergence (MACD)
EURUSDFor those waiting to short the Euro, don't even bother with the daily chart. 4H chart running out of space for another leg down. For the past 3 candles, since MACD produced a dead cross has there been any effect to the price? Just wait for a couple more candles for the indicators to adjust and the uptrend should resume. Whether the trend can hold, just look at RSI 50 will do. Cheers and happy weekend.
GBPUSDwhat and where the market is fighting over. easy to see at a glance. gap covering? Wait till the gates are crashed through. Be very careful when MACD goes above zero; that is when the party is about to end. As of now it has yet to start.
MACD DIVERGENCE GBPUSDMACD, short for moving average convergence/divergence, is a trading indicator used in technical analysis of stock prices, created by Gerald Appel in the late 1970s. It is supposed to reveal changes in the strength, direction, momentum, and duration of a trend in a stock's price.
EURAUD Bearish AnalysisI am selling this stop with a stop above the 1.4800 level
Looks to be a wedge peaking out at a resistance zone with some MACD divergence
The MACD seems to indicate that there was not as much strength in this recent up swing and perhaps bulls are losing momentum.
Could form a double top and perhaps a cup and handle price pattern.
If we reverse here this could be the correction wave after the big impulse 5 wave count
Cable: Waiting for news that lead to a new destination.We observe the USDGBP doubting. Above does not dare with the highest relative (0.77985) below marked tendencies, long haul at various levels. (075,299) - (0.73638).
The MACD is bullish background with divergent personality. The price probably show some volatility when approaching zero.
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GBP/JPY Prepare for an explosive Up move! Three timeframes, three bullish divergences
H4 suggesting that we are near the end of a bearish cycle, I will be buying the pair upon M15 confirmation (as soon as Stochastic RSI forms a higher low and Schaff Trend cycle shows a flat line)
EURGBP Short Term Opportunity to go ShortConfluence:
1. Deceleration @ .86 Resistance
2. Bearish MACD Divergence
3. Oversold RSI
4. High Test Candle Formation
Look to get 1:1 before going long
A HUGE LONG FOR AUDCAD HAS JUST STARTED ?Please feel free about telling your opinions or denials .. I would like to hear what do you think about this. And for not to miss updates please follow me. It's a long term trade and maybe situations get change by time..
Next Leg Up?Goldsource Mines has been on a clear uptrend over the past months. Every time it has had a new leg up it can be easily seen by a few inidications.
1. A broken Trendline
2. An oversold signal on the Stochastic RSI
3. A MACD crossover
4. Price meeting support at the 20MA or the bollinger bands.
GXS has just shown all of these signs and is looking like it is ready for its next leg up. It is currently trading 14% away from the upper bollinger band and the stocks all time high. Keep in mind every other time is has had one of these moves it has broken the upper BB, so this is looking like a possible 14+ percent move.
EURUSD movementBased on weekly chart, it is about time for the market to choose a direction. MACD has 1 leg in Heaven and the other in Hell. With the shorter Leg in Hell, it would require less momentum to pull it back. Who will win, we shall see.
USOILdaily chart almost hit RSI30. Currently stands at 30.6 so we should not be too far off. However, we should be mindful that it could plunge through 30 intraday and close back. It is quite meaningless to look at anything beyond 15min chart now as no indicator is good from hourly onward. Any possibility of rebound is resting on the smaller time frame to hold onto whatever small support there is. The recent drop and spike has also given a support and resistance.
Climbing Higher with SilverA short term downtrend has been broken and there are several indications to buy. Volume has been increasing, MACD is showing it is about to cross, Stoch RSI is showing that the stock is not trading at an overbought level, and it is trading just above the 20 Day Moving Average which has been acting as a line of support/value for the past few months. Also with the recent rally of silver, this stock will climb even higher with its large silver mining projects in Peru having an estimated 290 million ounces in reserves.
USoilWhy is oil so BEARISH? The trend is so strong because it is beyond the monthly charts. The reverse applies to SPX. I do think that we have printed a low at 26, there could still be a chance for this current adjustment to break 35 briefly to scare everyone and everything off the table. So hang on to your boots and enjoy the ride.
GBP/USDThe Bulls has only won half the battle. MACD is neither an angel nor the devil. Same thing as usual, adjust your aperture and monitor the movement from there. If this cross is successful it should be worth 300-400pips on a 4h chart. You can set your profit target there. Once it hits, it will begin to go sideways as per what we are seeing on the hourly chart which is worth 150-200pips. Once target is hit the sideways retrace can be from 30-60% (fibo numbers). Based on this; if you are trading on an hourly chart and cannot take a 60pip retrace then that chart is not suitable for your trade.
GBPUSD Timing the runIt has been 10bars since the MACD cross happened. Another 16 more days to go. Enjoy while it lasts. As usual, the challenge will be to break RSI 50 level. We can forget about the gap if this cannot pass through.
Horizontal Channel Short, MYCCPrice has bounced off of resistance on the horizontal channel and is on the move down. DMI showing bearish trend, MACD sell signal, 13 Day MA about to cross 9 Day MA, Parabolic SAR about to show sell signal. Volume has also gone down by a large amount. Price targer around $13.24, then will reshort if the trend breaks the middle support.
HangSeng Index1st weekly target already hit, not very safe to enter now. Now is the time to wait patiently for RSI to retrace to 50 level before deciding on the next step. It is 21bars since the last MACD cross, if the retrace is deep, it might go down to meet the MACD (green circle); which I doubt so. Any thing beyond 23k is already pushing the envelope. For this chart, the best place to take profit would be RSI 70 (if it can reach). Sometimes, you refer to old charts and do not see RSI 70, this could be due to the long tails during intra candle.
USOIL1h chart has already produced 3 MACD dead cross, 1 wave usually have 3 to 5. Current support is highlighted by the red dash line. 1st target will be RSI(14) 50 level. As this is a downtrend, even if it manages to break above RSI 50, my target to take profit will be RSI 70. RSI does not have much room left for maneuver and there is a high chance the MACD gold cross will be higher than the previous one. The point to start worrying again will be when MACD goes above zero.
Let's see how this pans out tonight.
USOILWTI is 34 bars since the last MACD cross and it is the last line of defense using MIDAS. It is about time for a rebound, rebound target would be RSI(14) 50 level which is about 46. At this level, it should produce a MACD gold cross as well. We have to be wary of this cross as a dead cross below is deadly and should bring us to the final target of RSI 30 level.
I do not think the MIDAS will hold on daily as the retrace is happening on weekly chart. Hence a lower target of $40-41 is more probable which is the MIDAS support on weekly chart.
Finally this rebound is best captured on the hourly chart.
Strong Short, Tronox Ltd.Very good short play on Tronox Ltd. This stock has broken its upwards trend posting a lower high after 4 higher highs in a row and it is at the top of the linear regression channel. TROX has bounced off of a resistance line and is experiencing decrease in volume. The MACD is also about to crossover to a sell signal and the Directional Movement Index is showing a downwards trend. Also, the stock is in oversold territory showing at 65 and is about to cross under the 9 Day MA.
NRG Yield Strong Resistance BrokenA very strong resistance level that went back to November has been broken, DMI showing a strong uptrend and MACD also showing a buy. Long until DMI shows slowdown of trend.
