Silver Buy positionThere are support levels on 17.727 & 17.840 with a good upward trend and a small recent retracement which leads me to believe that silver should peak around 18.550 breaking through the resistance barriers in the same fashion as the week prior... Share your opinion in the comments below...
Upwards
MAIDBTC Short Trend Analysis + Insight in Possible Future TrendI see a possible short term upwards trend towards 0.0002
If breakthrough of 0.0002 then next upward trend to 0.00029???
Share your thoughts. Thanks
Gold LONG iam expecting goldeur finishing the correction soon and strating a new leg upwards.
therefor we have to focuse on the current correction reaching 38,2-61,8% FIB - we will look for a nice LONG entry in lower timeframe -15MIN chart. SL we can place on 1117 and hopefully pull the SL fast to the break even and keep waiting for the new leg moving upwards.
MACRO VIEW: SPX HOLDS MACRO UPTRENDSDespite all the fuss and fears about US stock market recently, on macro basis SPX looks fairly good.
The index did break its 5-year uptrend (in relation to 260 week mean - now at 2015) during August selloff and for now stays below its border, However the price did not even test is 10-year uptrend (in relation to 520 week mean).
What it tells us so far that the longer term trends are intact and strong, and nothing changed dramatically since the start of 2013.
Upcoming earnings season is feared a lot by general media, and it can potentially trigger the 10-year uptrend test (drop to 1835), however as of now market shows no such expectations!
Goodrich Petroleum (GDP) close to bottom of upward channelGoodrich Petroleum close to bottom resistance of the upward channel. I propose long entry at about 14.85. First stop is quite aggressive at 12.50 (small position) and 2nd stop less so at 11.54 (bulk of trade).
History shows that ETA to 2nd profit target is about 100days from entry date.
EURJPY: Great trading long opportunity!EURJPY
Price has been moving up for a long, long time now. Creating a really nice weekly uptrend (the blue dashed lines).
We have several respects on the top line, but more importantly, we have 3 respects on the bottom trendline. This makes for a really strong trendline. There's also lower trend "zone" where price only goes to hit bottom line, but wants to reject heavily out. More recently price decided it was to soon to break trough the pink S&R zone, rejecting to the bottom of it. We got 2 more respects inside (not over) the zone, making its way back to the strong trendline.
The stronger trendline is where we make our decisions. First of all we have a strong base (the blue s&r zone) where our price decided to pierce trough and use as support a few weeks ago. More recently price hit our line simultaneously with hitting a Daily S&R line (the purple circle). This is a big plus for a move upwards. Since we have a lot of firepower here, an initial tap of the upper line of our S&R zone should be well within our range. The pink trendline, 'pushing down', will make a nice intra-trade confirmation line if and when our trade might be hitting our first target. The two black tops are also key in this trade, these suggest that price is moving up (if not now, later). Because the tops are floating above a really strong S&R zone. As a plus, the 2nd top candles we're already challenging the pink trendline with close just below it, and tops well above it.
The trade
There's a great chance price will move towards the 143.78x S&R line, and a really good chance price will pierce trough and go towards 147.37x or above. I have already entered, on 9/04 with the confirmation candle after the purple circle hit. You can still enter today or maybe tomorrow because the Risk/Reward is very good again.
You could also wait after price confimed in or over the S&R zone, but this is more risky offcourse.
N.B.
If price decides to radically turn around, we might have a really good situation for looking for a short move (at least for a while), probably before going up again.