Gold fails second re-test of new high and opens downsideGold has double topped at the last lower high and while I am skeptical of a sell right now given the USD index is falling there should be caution when taking a long position.
We need a higher close above the lower high to safely buy into Gold which may come later in today's session, otherwise if the USD index re-bounds (see linked trade analysis) we could short gold to the previous higher low at 1312.00.
Waitingforconfirm
Good setup but what will Yellen say?AUDNZD looks like a good buy setup, a lot of the indicators and price action are pointing towards a bull run, but Yellen might be the party pooper. As they say, it ain't over till the fat lady sings, and Yellen is a lady and kinda fat so...
RSI and stoch show bullish divergence
First bullish daily candle that might even engulf yesterday's bear
First breakout of downward channel inside larger bearish channel
Hit bigger support and daily will probably close today showing a very nice bounce
Of course negated if prices reverses and breaks lower any way, might just be a small correction before another wave down.
AAPL Wedge Within a Wedge Wait for Move Either WayApple is in a falling wedge (trust me, the lines aren't random and work on multiple time frames), but for the last two days there's been a rising wedge. While there may be a decent rise in the future if/when AAPL breaks up out of the falling wedge, it may reject the wedge and bounce down to 105 in the next two days. It will be important to wait and see if AAPL is going to breakout tomorrow/Thursday, or if it will break down to approximately 105 one more time before attempting to breakout again
Long SPY if channel bottom holdsDespite the huge drop last week, SPY looks poised for a bounce, barring any Fed shenanigans. While there is considerable downside if the current white channel support doesn't hold, I expect a bounce up to fill the gap from Friday, and potentially up to the white downtrend channel median in the beginning of the upcoming week.
USDCAD 4 HOUR LONGprice is pulling back into nice structure level which would be a good opportunity to get long. Buyers are clearly defending this level as they dont want price to drop into the area where Canada cut interest rates. I.ll be watching for a buy signal at this level eg bullish hammer or engulfling pattern. My long term target is still at 1.30 but i.ll be targeting 1.25358 for now