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NZDUSD and a Confluence of SupportsOANDA:NZDUSD looks like its forming a nice floor where a lot of key technical levels and indicators are at. 4H Moving Averages: OANDA:NZDUSD was able to get above key moving averages in the 4H timeframe and it has held well so far. Weekly Higher Lows Trendline: Even after some attempts of breaking the trendline it has held so far and looks like it was able to get back above it The Daily 200MA should provide decent resistance but its also possible that it might still break through it to test the 0.73 level once more Entry: 0.70237 Stop: 0.697 Profit: (tp1) 0.7137 (tp2) 0.73368 Any feedbacks are appreciated!
Long
by SimpleMillennialAverage
2
Gold Weekly SupplyFear seems to be in the air the past couple of weeks and gold has been responding; I believe this will be short lived and I am looking at the Oct/Nov 2016 Supply/Demand exchange level for a potential reversal. If prices find resistance at the 1238-1258 zone then I'll expect prices to retest the 1185 support level in the coming weeks and with a continuing strong DX, for gold to retest the 1100 level in the coming months. Short entry: 1238-1258 Stop Loss: 1271 TP1: 1185 TP2: 1100 Good trading all!
COMEX:GC1!Short
by smitheric1970
XAUUSD Double Top Pullback April 3-7 Trading PlanOANDA:XAUUSD looks like it got rejected once again by the Wall of Trump resistance and needs one more pullback in my opinion 4H Timeframe View: It broke below the 20MA/50MA and looks like a hammer was formed which indicates a possible top formation Short: 1249.240 Stop: 1254 Target 1: 1234 The 200MA at the 4H Timeframe might provide decent support so I might take partial profits on this location Target 2: 1229 20DMA/50DMA are converging on this area so it might provide stronger support compared to the first target Target 3: 1225 The daily support trendline should be here so it needs to consolidate/bounce on this area if OANDA:XAUUSD is winding for a strong bull move Any feedbacks are appreciated!
OANDA:XAUUSDShort
by SimpleMillennialAverage
AUDUSD: Gartley's Pattern Setup for Butterfly's Late EntryReason to entry: -Gartley's pattern in form of butterfly's pullback -AB=CD pattern -price already penetrated flag pattern -wait for RSI and candle formations Entry: -AB=CD completion, or -gartley's completion Exit: -Gartley's 38.2 retracement -Gartley's 61.8 retracement -retest of flag's pole -projection of flag's pole Void if: -price goes trough 161.8 extension of butterfly -widen the stop to prevent market's volatility (Fed rate hike, and other USD big news) Remember that market always right!Manage your trade well!
Short
by WilliamSurya
AUDUSD: Trend continuation Setup (Butterfly as Consolidation)Reason to Entry: -Valid butterfly pattern -Fibonacci confluence (3) -in line with rate hike event (AUD have correlation with Gold) -wait for RSI confirmation -wait for candle formation (double top or doji) -if CD leg are too steep, it's a warning sign price will go higher and higher -You can entry with butterfly pattern setup or wait for breakout of consolidation Entry: -127.2 of butterfly -161.8 of butterfly -breakout of consolidation Exit: -retest of A point of butterfly -Equal measure move of the trend (161.8 extension) Void if: -CD leg of butterfly too steep -price breakout the consolidation before touching 127.2 of butterfly
Short
by WilliamSurya
Oil Supply - Continuous Chart - Supply LevelWith a solid break below 53.30 on the April chart (see Oil - April Chart) I have an entry level for short positions here on the continuous chart. Following an increase in rate hike sentiment last week, oil not only broke down below the fast upthrust on Wednesday, it followed up by break hard below the upper supply level (53.51-53.89); I am now looking at 53.51 as strong resistance and am currently short looking to add short entries (shorts active at current price) at the 53.2-53.51 level, targeting the Last Point of Demand TP1 at 51.70 and then the range Preliminary Supply level TP2 at 50.91. The bear in me believes prices will test the base demand level if oil reports are bearish this week and rate hike volatility increases. But I'll reassess and publish another chart if TP2 is hit. Short Entry: Active: 53.20-53.51 TP1: 51.70 TP2: 50.91 Good trading all!
NYMEX:CL1!Short
by smitheric1970
USDOLLAR INDEX - USD Long BiasTe chs 1. We are trading above the high of JAN 2016 which is a very significant level (S/R) 2. The Willis Zone bounce indicates a highly probable leg to upside 3. Golden Ratio Correction increases odds of a leg up 4. Weekly Close above previous 5 weekly candles Fundi es In light of the FEDs likelihood of an interest rate hike, bulls will be coming in strong potentially pushing FX:USDOLLAR into NEW HIGHS Personal Note I am not trying to predict the exact movements of price. I am just pointing to my bias on the weekly timeframe. I will go long and short the USD during 2017. "Its not about trying to be right, its about making money" - Ned Davis "I profit and I will let others be the prophet" - Rodrigo Antonio Warm Regards,
FX:USDOLLARLong
by Fiiyat
EUR/USD FOMC ForecastHello Traders, The market is in a range with price action lacking a firm direction and clearly waiting for a fundamental factor to drive it in either direction. The FOMC meeting tomorrow will be such a driver and we have two outcomes below along with our rationale. Outcome 1 - Rate Hike and Bullish Press Conference - 65% Likelihood: We favour a bullish statement and press conference from the FED given Donald Trump has signalled pro business policy and major infrastructure spending. We believe that this will put pressure on the FED to act now and raise rates to accommodate expected economic growth over Trumps first 100 days in office where his policies will be announced and actioned. Outcome 2 - No Hike and Dovish Press Conference - 35% Likelihood: Looking at the chart the market is waiting for direction. In the face of Trumps bullish growth ambitions the market is still undecided on the direction of the FOMC. We then keep our options open on a surge in the Euro as this outcome would mean the FED don't follow the President-Elects view of increased economic growth through infrastructure spending and pro business policies. How to trade: We suggest orders placed on the fringes of the blue box in either direction with small risk stop losses, it's likely price will surge in either direction on the rate decision and statement. Price will then fluctuate during the press conference however it is likely the comments in the conference will be supportive of whichever direction price moves after the rate decision.
Short
by EuroDollarExpert
US2000: Tremendous 15 Consecutive Day Rally I have not been able to find any conclusive data regarding whether or not this rally has been all time record for the Russell 2000 Index. Investor confidence has soared to all time highs via 3 week rally. Although I am glad to see this rise occur, I do not seem to understand the logical or fundamental justification for it. How much longer can the Stock Market ignore the carnage in the Bond Market? Because interest rates have been so low for so long, I believe that an increase in rates at this time, a time when the market has been relatively stagnant for over a couple years, will have a strong deflationary effect on the Stock Market. This December, when the Federal Reserve Hikes interest rates, we will see whether this rally has been a genuine reflection of the supposed US recovery, or if it has simply been an impulsive pump after the election of Donald Trump. Please do not hesitate to leave your thoughts.
OANDA:US2000USD
by IceTrading
2
Price behavior patterns - Long term analysis Looking back since 1995 we see clear price behavior pattern in SPX: 1. Smooth and steady climbing of the Index throughout years. 2. Just before a major reversal we see a price action widening and choppiness increase. 3. Bearish reversal following a close below the Fast MA line. As you can see, since 2015 we are inside the trading range period. It is wider than before and that probably due to the level of engagement of central banks in the markets. After the elections SPX bounced from the Fast MA line and therefore didn't provide the bearish trigger... instead, it provided a bullish one with strong bullish reaction to the MA line. Things look like we still have some more upside in SPX but it is limited. We are probably in a wide distribution phase and it'll end when SPX will close again below 2000 (below the Fast and 50 MA lines) Read more about what's in store for 2017 in this week's newsletter (link in signature)
FX:SPX500
by themarketzone
Testing trading range lows$EURUSD suffered great losses last week as the Dollar Index (DXY) broke above the 100$ price zone with Yellen's help. Now the Dollar Index is testing the monthly 61.8 Fibonacci level (102$) and $EURUSD is testing 2015 lows - The bottom of a weekly trading range. The harmonic pattern hasn't been violated yet and X will be tested as well. Focus Zone - 1.05-1.06 Potential target zones - 1.075 and 1.08 Is the EURUSD going to be a good buy towards 2017? Read more about this setup and more in this week's newsletter (link in signature)
Long
by themarketzone