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Sideways

Overall View of EURUSD - Update of June 17th week1.13478 top level was reached after a sharp bull trend. Prices settled on a resistance zone and were subjected to a bear pressure. After a strong reversal signal on June 12th, the odds of a bear trend became higher. Possible targets : @1.12000 (+75pips) and @1.11200 (+150 pips). Advice : Stay bearish and sell at any high point while we don't break the resistance zone or 1.13478 top level. Correlated pairs : USDCAD (-87.8%) and XAUUSD (62.5%). We are more likely to experience a strong bull spike with the USDCAD while a minor effect on the XAUUSD . Previous view: Odds of a bear continuation are high, stay bearish and sell at any high points while we don't break the resistance zone or 1.13478 top level. Actual outcome: Prices were side ways with a test of the strong institutional level 1.12000 and forming a daily doji bar. Likewise bulls attempt to reverse the trend failed Actual view: Prices are still subjected to a bear pressure. Odds of a bull trend continuation are high. Possible targets : @1.12000(+20pips) and @1.11400 (+80pips). Advice : Stay bearish and sell at any high point while we don't break the 1.12600 top level. Correlated pairs : USDCAD (-87.8%) and XAUUSD (62.5%). USDCAD is still on a very strong bull spike, confirming that there are more odds for the EURUSD to continue its downtrend.
Short
by Theperfectionist
SHORT Overall view of CADCHF - Update of June 17th weekPrevious view: Odds of a bull pullback are medium/high, stay bullish and buy at any low point while we don't break the 0.74400 bottom level, which will confirm the bearish pressure. Actual outcome: Prices tested 0.74400 bottom level; although the was a tiny rejection, the bearish pressure has been confirmed. Possible targets: @0.74000 (+30pips) and @0.73640 (+80pips). Advice: Stay bearish and sell at any high point while prices don't break the 0.74650 top level. Correlated pairs: USDJPY (92.8%) We are more likely to experience a strong bull spike with the USDJPY which is currently at a support zone and showing a progressive upward trend. Moreover, that might be the clue that CADCHF's odds to continue its bear run are higher.
Short
by Theperfectionist
PANW Iron CondorSince PANW is very rich in premium right now with a high IV. It seems to have broken support and is going sideways. ER is May 30th I may decide to take off the trade before then however I may also want to take advantage of the IV contraction. 195/200/240/250 EXP June 21st $290/710 Profit/Risk I plan to take the trade off at $150 profit which means I will risk $300 to make $150 since its a high probability trade. If this goes toward the bottom end I will try rolling the top side closer to the side broken or I may just leave the trade since the top side is more vulnerable. Trade Journal Entry, not trade advice.
PShort
by Synaptic724
BTC Update! Continued sideways action but bulls tryingSorry for lack of updates but not a whole lot to discuss. We've basically been stuck between this low $4,000's and high $3,600's for a month now. The bulls are seemingly trying to inch their way back up towards our key levels of resistance at $4189, $4239, and $4415 but it is quite the boring and slow crawl. A few days of fakeouts here and there with quick pumps or dumps but nothing too significant in my opinion. I'll admit I did get a bit bored the last few days and scaled in LTC for a trade while it was pulling back some and currently hold the position in slightly positive territory. If daily chart starts to roll over and lose its uptrend, I'll be happy to stop out. A few alts have popped here and there I have seen which is great. But overall for BTC its just been a lot of slow and mostly sideways action. Biggest supports are $3858, $3659, $3538, $3338, and our low down at $3129. Some alts certainly look like they have bottomed. BTC however still has not changed its weekly chart to bullish by establishing higher highs. Markets can bore you to death at times so keep an eye on things as eventually the bulls will be back in town. Just My 2 Sats!
COINBASE:BTCUSD
by My2Sats
Oil setup analysis - Daily Consolidation PhaseHi there. Here are my thoughts for oil movements : Crude Oil is on an overall bull run. The average daily volume traded is still constant, counting around 150K contracts and creating a consolidation phase. In fact, the daily chart displays several sideway movements with the following key levels : - A support @ 55.000 per barrel. - A resistance @ 57.500 per barrel. A Medium term (Up to 6months) investment advice would be waiting for a strong breakout in any direction. The next move closely depends on the direction of the break: - A support breakout would dip the oil prices to 51.500 - 50.500. - A resistance breakout would drive the oil prices to 60.000 - 61.000. The monthly, weekly and daily charts are aligned with a strong bullish sentiment. Therefore, We are more likely to experience an upward move. Feel free to comment or give ideas. Succesful trading!
OANDA:WTICOUSD
by Theperfectionist