After completing the bullish butterfly in February, Tesla made an inverted Head And Shoulders, broke the trendline which lead to butterfly completion, failed to make a new high but went instead to test the trendline break and made a bullish turn. Target 252.75 still on table.
Gold reversed after reaching the channel mid line and hitting down to the recent uptrend. If the trend fails to hold and breaks, it would be then good entry for short.
With large amount of insecurity and uncertainty surrounding GBPUSD, my bearish sentiment on GBPUSD is at 99.9%. With that being said I expect 1.41036 to break, retest then make its way to 1.39426 as its next target.
Hi all, The AUDUSD has been trending down since the end of 2011, so I am looking for a good short signal on this pair. What I am currently waiting for is a breakout of the blue trendline, after that a small retracement or some consolidation. If and when this occurs, I will place my short entry. It will most likely by around the 0.71 mark. Best of luck!
expect a momentum move to the upside soon if we can take out the highs of the last hour. conservative stops below the pennant, aggressiv stops below the lows we make from now on till the break of the highs.
It's been a long time since I've posted but here is a pair to look out for. Good Luck!
Downside breakout today from a trendline dating back to lows of 2009. It's also under the 200 week moving average. More downside ahead. Note: This small-cap indicator is often seen as a leading indicator for the large-cap S&P 500.
Breakout to the downside through a significant upward sloping trend line that has served as a support level since late summer 2015. Also, the pair carved through the 100 day moving average today which will serve as additional resistance on any pullbacks. Target is a little difficult to predict. It could be the November 2015 low of 0.6428, or the summer low 0.6424.
Sell with the break of the up trend line Target 1: 0.9700 Target 2: 0.9620 Stop Loss: Break and close above 0.9830.
This is the kind of "slow uptrend" we get when the market is preparing to break out of of a long term downtrend. Price isn't moving very fast, but that's a good thing. The volume tells me that the market is done with its downward consolidation for now. The market is gaining momentum, as it has broken 2 of the intermediate term downtrend lines, a sign that...