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Trendfollowing

Oil Halts at Resistance!This week the price of oil hit a strong level of resistance and failed to continue trending and has since reversed and is currently forming a pullback. The resistance level price hit is based on the April 2019 high at $66.58 and has held strong ever since. The last time price traded above this level was in October of 2018. As price is pulling back, we need to identify levels of support that price may come down to. The first level is the 50 simple moving average and below that, we have the $50 round number. If price bounces off any level of support we want to see price gain momentum that will be strong enough to force it past the resistance level above. We may, however, see price go on to consolidate for a lengthy period of time. Right now we need to stand aside until price makes it clear that a strong trend is in play. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:USOIL
by Sublime_Trading
S&P Finding Turbulence at $4000The S&P 500 broke above the previous all-time high at $3950 this week but has since declined back down below this level. This is proving to be a strong level of resistance, and if you couple this with the $4000 round number above, then we have a strong hurdle which price may have difficulty breaking through. The overall trend remains bullish, and the 20 & 50 simple moving averages continue to push price higher but we need to pay attention to how price reacts to this cluster of resistance as we advance. There is a clear pattern of higher highs and higher lows, so if price breaks and closes below a recent low, then we may start to see a deeper decline. As for now, we can expect the moving averages to support price. Should price break above the $4000 round number, we can expect to see the 12-year bull trend continue on its way. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
SP:SPXLong
by Sublime_Trading
Is the DAX burning down?This is a 15 min time frame, trend following set up. Price action looks uncertain and nosing slightly south. As a trend follower, you know that you have to give the market much room to oscillate. Trend is more important than price. Nothing in this set up means that I know the trend will continue south. All I can do is take an affordable loss. Hence, you find no predictions here. Why? Because I'm not predicting. I'm following. New traders need to be very careful in these set ups. Expect a loss. Control it. Make it affordable. I always talk about losses - that thing that lots of traders don't want to hear about. If the trend continues south, I can't know how far it will go. Disclaimers : This is not advice or encouragement to trade securities on live accounts. Chart positions shown are not suggestions. No predictions and no guarantees supplied or implied. Heavy losses can be expected if trading live accounts. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
WHSELFINVEST:GERMANY40CFDShort
by Captain_Walker
USD/JPY: Turning away from the 109.50 Fibonacci retracement13:35 GMT - The break above 109.00 is meeting fresh selling interest just below the 109.50 Fibonacci retracement, whilst intraday studies track lower. Daily stochastics are also under pressure, unwinding negative divergence, and the positive Tension Indicator is flattening, highlighting increased downside risks in the coming sessions. Immediate support is at congestion around 108.50 and extends to the 108.34 weekly low of 10 March. A close beneath here would turn sentiment Negative, and extend losses below 108.00 towards 107.50. Meanwhile, a close above 109.50 is needed to turn sentiment outright Positive once again and extend January gains.
by Continuum_Economics
USD/JPY: Turning away from the 109.50 Fibonacci retracement13:35 GMT - The break above 109.00 is meeting fresh selling interest just below the 109.50 Fibonacci retracement, whilst intraday studies track lower. Daily stochastics are also under pressure, unwinding negative divergence, and the positive Tension Indicator is flattening, highlighting increased downside risks in the coming sessions. Immediate support is at congestion around 108.50 and extends to the 108.34 weekly low of 10 March. A close beneath here would turn sentiment Negative, and extend losses below 108.00 towards 107.50. Meanwhile, a close above 109.50 is needed to turn sentiment outright Positive once again and extend January gains.
by Continuum_Economics
DIA/USDT a strong bullish marketDIA/USDT According to my analysis, DIA is in an uptrend channel. so we are looking for a buy position. if you draw the descending trend line(X) in 4h chart you can see the price has broken up the trend line(X) with acceptable volumes and at this moment a clean pullback can be seen on the chart. additionally a strong support(A) is under the price that we expect buyers to come to the scene. if a good reversal candlestick pattern such as a bullish engulfing shows up, it's a nice trigger to enter the position. The target can be consider before reaching resistance (B). Support(C) is a nice zone to set your stop loss. This idea depends on the condition of the BTC and alt coins market cap. As long as the market cap is moving up smoothly and Bitcoin is in a range market or moving up slightly, this analysis is reliable. Caution: this is not a buy or sell signal and all of the risks of trading this idea is on your own.
Long
by salarkamjoo
ALIBABA - Open Sesame for the Trend!Hello Trading Family, I found BABA chart interesting. We can see that BABA is currently trading inside these two brown trendlines forming a rising broadening wedge. And it is currently approaching a strong rejection/support area. I call it "War Zone" , highlighted in Orange (circle). The highlighted orange circle is a strong area to look for buy setups as it is the intersection of support in green 210.0 and the lower brown trendline acting as non-horizontal support. (trend-following setup) As per my trading style/plan: Short-term: As BABA approaches the orange circle (area), I will be looking for bullish reversal setups on lower timeframes (like a double bottom, trendline break , and so on...) Long-term: I will be waiting for a third swing high to form around the upper blue trendline (projection in purple) for it to become valid then buy on this last swing high (gray area) break upward. Always follow your trading plan regarding entry, risk management, and trade management. Good Luck All Strategies Are Good; If Managed Properly! ~Rich
NYSE:BABALong
by TheSignalyst
63
Oil Breaking Boundaries!Oil has come a long way from the 100% decline we witnessed in 2020 where price came close to hitting the $0.00 mark. We have seen price climb above $65 since that time and continues to look strong on the daily timeframe (not shown) where we see a pattern of higher highs and higher lows. Price is above the weekly 200 simple moving average and the daily 200 simple moving average and the recovery has been strong and consistent. The candle this week so far is displaying an indecision candle so there are some strong clashes happening between the buyers and sellers. There is a strong level of resistance above price at $76.88 and this is from the October 2018 high. If price can continue to climb and break above this level then we should continue to see growth in the price of oil. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:USOILLong
by Sublime_Trading
S&P Approaching $4000!The S&P is showing good progress so far today and if price remains the way it is or moves higher then this will confirm a continuation of the trend. February and the first few days of March proved to be a difficult time for investors as many stocks went on a decline but this was short-lived as price found support levels to bounce off. The Dow Jones led the way with a breakout the day before and continues to create new all-time highs. The S&P is following behind and the Nasdaq is lagging further behind. Along the way up price should continue to use the 50 simple moving average as support which it has been using over the previous months. Price is now on its way to reaching the $4000 round number and if this level is breached then we should see the momentum continue to flow in the markets. Bear in mind that when price pulls back again, it is imperative to remain calm and only manage positions if support levels are broken. As for now, continue to profit from the current trends until the trends end. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
SP:SPXLong
by Sublime_Trading
GBP/USD: Focus on the 1.3725 Fibonacci retracementAnticipated losses have reached the 1.3775 low of 12 February, where unwinding oversold intraday studies are prompting short covering and consolidation. However, daily stochastics and the Tension Indicator continue to track lower, highlighting further deterioration in sentiment and scope for further losses in the coming sessions. A later close below 1.3775 will open up the 1.3725 Fibonacci retracement, where fresh consolidation could unfold. Meanwhile, resistance remains at the 1.3925 intraday lows. Negative weekly charts should limit any unexpected break above here to 1.4000/26.
Short
by Continuum_Economics
GBP/USD: Focus on the 1.3725 Fibonacci retracementAnticipated losses have reached the 1.3775 low of 12 February, where unwinding oversold intraday studies are prompting short covering and consolidation. However, daily stochastics and the Tension Indicator continue to track lower, highlighting further deterioration in sentiment and scope for further losses in the coming sessions. A later close below 1.3775 will open up the 1.3725 Fibonacci retracement, where fresh consolidation could unfold. Meanwhile, resistance remains at the 1.3925 intraday lows. Negative weekly charts should limit any unexpected break above here to 1.4000/26.
Short
by Continuum_Economics
AUD/USD: Coming under pressure14:15 GMT - Anticipated losses have spiked below congestion around 0.7650, with unwinding oversold intraday studies prompting a bounce from the 0.7620 Fibonacci retracement. Short-term gains are possible, before negative daily stochastics and the falling Tension Indicator extend losses still further. A later break below 0.7620 will open up critical support at the 0.7564 current year low from 2 February. Meanwhile, resistance is at 0.7800 and should prove difficult to reach.
Short
by Continuum_Economics
AUD/USD: Coming under pressure14:15 GMT - Anticipated losses have spiked below congestion around 0.7650, with unwinding oversold intraday studies prompting a bounce from the 0.7620 Fibonacci retracement. Short-term gains are possible, before negative daily stochastics and the falling Tension Indicator extend losses still further. A later break below 0.7620 will open up critical support at the 0.7564 current year low from 2 February. Meanwhile, resistance is at 0.7800 and should prove difficult to reach.
Short
by Continuum_Economics
USD/JPY: Extending January gains in JPY-driven trade13:30 GMT - Still no change in the bullish tone, as daily stochastics and the Tension Indicator continue to track higher. The break above the 107.15 Fibonacci retracement has improved sentiment once again, with JPY-driven trade extending January gains towards congestion around 107.50. Broad weekly charts are positive, highlighting later clearance towards 108.00/20. Meanwhile, support is raised to congestion around 107.00 and extends to 106.66. A break beneath here, not seen, will add weight to sentiment and prompt a pullback towards congestion around 106.00, where improving background sentiment could prompt fresh buying interest.
Long
by Continuum_Economics
USD/JPY: Extending January gains in JPY-driven trade13:30 GMT - Still no change in the bullish tone, as daily stochastics and the Tension Indicator continue to track higher. The break above the 107.15 Fibonacci retracement has improved sentiment once again, with JPY-driven trade extending January gains towards congestion around 107.50. Broad weekly charts are positive, highlighting later clearance towards 108.00/20. Meanwhile, support is raised to congestion around 107.00 and extends to 106.66. A break beneath here, not seen, will add weight to sentiment and prompt a pullback towards congestion around 106.00, where improving background sentiment could prompt fresh buying interest.
Long
by Continuum_Economics
Gold Breaks Support Levels!Gold was making good progress in July and August 2020 after breaking above what was then the all-time high at $1920. It was after hitting the $2000 major round number that we saw a change in the behaviour of price. By September 2020, price not only moved back below $2000 but also back inside the consolidation zone. Despite this, there was support below price from the weekly 50 simple moving average and the daily 200 simple moving average. The weekly 50 simple moving average was a key support level because historically it has bounced off this level a number of times but it failed to hold price up on this occasion. We are starting to see bearish moves in Gold on the daily timeframe and our proprietary trend filter has turned red indicating that there is weakness in price. The next important level of support below price is the $1500 round number which is some distance away from price. Should we continue to see a pattern of lower lows and lower highs on the daily timeframe then price may continue on a downward trend for some time within the consolidation zone to the support low. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:GOLD
by Sublime_Trading
S&P Taking a BreatherThe S&P 500 is still in a long-term uptrend which has been in play since March 2009 and currently approaching a major resistance level in the form of the $4000 round number. The momentum has started to slow down slightly as we are seeing a mini consolidation in play. Just below price we have the 50 simple moving average and price has been hovering around a resistance level from the high from 26th January 2021. Price has been moving above and below this level and if we see a bounce off from the 50 simple moving average again then we may well see price move back above this level. The recovery from the global pandemic from the peak last year March has seen a move of 75% so the slowdown in momentum is understandable but now we want to see a resumption of the uptrend. If we finally see a break above the $4000 round number, which may prove to be a strong obstacle, then we should see the bull trend continue in both the UK and US stock market. Through our scans, we are seeing many stocks emerging from breakouts and potentially forming long-term linear trends which will be confirmed if price uses the 20 & 50 smas as support. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
SP:SPXLong
by Sublime_Trading