Get started

Metal

Head and Shoulders pattern - Breakdown or a run to 1300?$XAUUSD was one of my winners last week with successful bearish harmonic pattern traded from 1260$ to 1230$. Now a bearish Head and Shoulders was formed with a neck line that is also the bottom of a trading channel. The price closed below the 50 SMA line and barely above the Fast SMA line. 1225$ - Key support zone Bearish scenario - Breakdown and continuation towards 1200$ and 1180$ Bullish scenario - Neck line holds as support and $XAUUSD runs towards top of trading channel - 1300$ Tomer Jakov, The MarketZone (@themarketzone) This analysis is part of the Weekly Markets Analysis newsletters To read more interesting technical reviews for the week- goo.gl To subscribe to the newsletters - goo.gl
FX:XAUUSD
by themarketzone
CENX - Possible BullCENX appeared to be just finishing a head and shoulders tops formation (marked by five horizontal blue lines) spanning from Sep 2015 to march 2015. Based on that formation, the price should have retreated to approximately 10 dollars. It went slightly below that but showed some signs of stabilizing. However, CENX also posted revenues that were 26% below consensus in August, driving the stock price even lower - this in the face of ongoing troubles from oversupply of aluminum. CENX has traded lower from that point, but appears to be staging a possible rally. After stabilizing somewhat from November until January, positive earnings surprise coupled with the generally improved market (over the past several weeks at any rate, whether it holds remains to be seen) has helped drive the price above two short/intermediate term price levels at $4 and $6. This brings us to the key point - what will it do next? CENX hasn't broken the trendline running at approximately $7 since its second decline in August until now. If it can hold above this level, its next key resistance level will be $10 and the distance between here and there represents a good opportunity. I would cautiously note, however, that while volume was strong immediately after the positive earnings report, volume on the recent break above its $7 resistance is actually below its moving average. I would also note that aluminum prices have recovered somewhat and this is also a driving force behind CENX prices. This is a wait and see moment, trading well above $7 for a few days or seeing a significant price increase on significant volume from here will indicate that CENX has bottomed and the price will increase from here for some time. Anticipating a move from here would be foolhardy.
NASDAQ:CENX
by tapkcir
MY Entry Setup for High Probability Trade "Long" SETUP for a Swing Trade with 5 to 1 and 10 -1 risk reward. ENTRY Range, Initial STOP, and 2 different Target levels listed on Chart. Any Questions happy to answer how I use this setup to make consistent profits. Setup= 1. Bollinger Band extreme with strong bullish candle followed by 2 days closing above that candles low. Pattern has repeated again and again. 2. CCI cleared extreme -200 level "oversold and setting up a strong move. 3. Retracement in line around 50% supports the bounce STOP Must be around 137 as this keeps the trade a 5 to 1 RISK REWARD 2st target and 10 to 1 2nd target, and do not trail stop until first target is hit, im willing lose that much on this trade knowing slippage is possible due to opening gaps in stock. also as this stock gaps up/down at open so any tighter u will be stopped out and I would not hesitate to re-enter trade if price clers 138.16 level. I will keep 137.12 stop until first target hit than will trail stop using Volatility stop.
AMEX:PPLTLong
by zapamac