Evening Traders, Today’s Analysis – BTCUSD – a short trade is valid at major resistance confluence Points to consider, - Dynamic resistances converging - .618 Fibonacci objective ( bearish resistance of dynamic resistance) - Price Action in a Rising Wedge pattern - Stochastics divergence - Bull impulses (No follow through) The .618 Fibonacci is the objective...
See previous chart your Bearish bias. See this chart for Bullish bias. Pick your poison and good luck trading this week. Remember, be smart & safe, don't overtrade and stick to your trading plan.
Evening Traders, Today’s Analysis – GBPUSD- trading at local support after an impulse sell. A retest of local resistance is probable to put in a lower high. Points to consider, - PA Double Bullish Divergence - Local Support (Trade Location) - Local Resistance (Immediate target) - Oscillators diverging - Volume below average GPBUSD is establishing a...
Evening Traders, Today’s Analysis – QTUMBTC – Testing range midpoint in an extended descending channel , PA is at trend pivot . Breaking bullish will establish a potential right shoulder, breaking bearish will make the immediate target, range support. Points to consider, - Trend trading in a channel - Midpoint (Local support) - Range resistance (neckline...
Evening Traders, Today’s Analysis – USDCAD – trading in a probable rising wedge pattern at local resistance, breaking down bearish will be a short opportunity. Points to consider, - Trend Bearish ( Consecutive lower highs) - Daily support respected - Local resistance confluence - RSI wedge - Volume tapering off USDCAD’s overall trend is bearish with...
Evening Traders, Today’s Analysis – CADJPY- trading in its Apex (Moving Averages converging) at daily support. Respecting the 200 MA will push price to a retest of local resistance. Points to consider, - Price equilibrium - 200 MA confluence - 21 MA Resistance (Apex) - Oscillators neutral - Volume below average CADJPY is trading in a valid...
I was asked my view on Intu Properties but before I start I want to note that this is exceptional circumstances where we are looking at weak stocks in a weak market and looking to buy them. But here we are. So again like so many other stocks Intu has been training in a longterm downtrend but has gone oversold and now the big money is buying stocks at bargain...
Evening Traders, Today’s Analysis – ONTBTC – breaking its neckline zone if it’s Inverse head and shoulders. A retest and hold of the .618 Fibonacci is a long opportunity with defined risk. Points to consider, - Macro Inv. Head and Shoulders - Neckline support (Retest) - 200 MA Immediate Resistance - Oscillators Neutral - Volume Profile in synch ONTBTC has...
Just like Anglo Gold Gold Fields has seen an increase in volume and is pushing off resistance become support continuing the markup that had started.
After a pullback to breakout levels volume has increased at resistance become support. Together with negative divergence on the volume RSI this points to a healthy continuation in Gold stocks.
It could be time for the push to test R180 again. Good volume and higher highs are indicating that the move to R180 is about to start. Will be watching this week.
Aspen has been in a downtrend but after going oversold (see below) we have been following the recovery to the top of the channel. Some negative divergence points toward a continuation of the smaller uptrend that has been formed.
Dis-chem has been in a downward stride but after a short accumulation with a spring, the trendline was broken. After a backup (BU) it looks like it will break higher and test the yearly pivot point.
Evening Traders, Today’s Analysis – GBPJPY – clear impulse bear move from resistance, next structural target is range support. Points to consider, - Impulse sell off - Range mid-point (bearish retest) - Range support target - Oscillators overextended GBPJPY had an impulse sell off putting in a volume climax node, marking an end to the temporary sell...
A lot of people we're anticipating macro levels to pull back to 8k's and high 7k's, however, i think we've seen a PA reversion and I'll remain confident in my strategy as long as 9000-9300 is support. Anything under 9300 for too long and likely we retest 9k or even high 8k's to prove how strong the support really is at 8100-8600. I've been trading this chop and...
Following the post in March (See below), we are still holding for a test of R1200. There has bee a pullback after a reaccumulation range on lower volume and we are looking for a push higher to complete.
We have been following the bounce on Sasol from the selling climax in March. After closing the gap we have seen a pullback on declining volume. This could be a preliminary supply or a buying climax. We will have to wait and see. We are now again looking or the test of the 200 Day MA and test of R200. Once this has occurred we will follow the larger timeframe range...