AlbionTrader

AlbionTrader

The price stopped the 4H downwards trend yesterday (sharp Aqua line) and started going up but is compressed between that and the short-term downwards trend (Aqua line on the top) . This downwards trend might however come at a crossroads with the medium-term Weekly uptrend (Red line for the latest one and Orange line taken from a low before). The horizontal blue...

AlbionTrader

Instrument at a crossing point between the Fibonacci levels taken on the Daily and the trendlines taken on the weekly. If we zoom in and watch at the chart... I would wait a bounce on the Blue trendline to confirm a more aggressive uptrend, or a bounce on the (lower) Red line to confirm a smoother weekly uptrend

AlbionTrader

GBPCAD closed the day in a very curious configuration that deserves being observed for potential action. The price touches the trendline and on the Weekly (below) and on the Daily. However, the closer zoom on the H4 timeframe in the main chart shows that the price actually broke out the downwards trendline. Now the peculiar thing is that this level: Sits...

AlbionTrader Updated 

This chart has been not easy to create, both because it does not show data below D1 and I was interested in H4, and because the price vary from my broker. Anyway... #Cocoa (US futures Mar 2017) is close to a support in its retracement and might just go back again to keep its bearish trend going. Actually, on my broker the current bar (with no shadow) is exactly...

AlbionTrader Updated 

USDCAD has a very peculiar configuration this week. The support at 1.31220 was violated on Thursday, but the Bulls came into the game to bring it up above it again. Nevertheless, another bearish bar closed just below it on Friday. Macro and Cyclicity are expecting a signal to go LONG. Interesting to watch and see whether this takes a clear position either LONG...

AlbionTrader

Someone asked an advice in chat about Palladium LONG (with TP@756.00) and thought to provide my personal point of view with a more organic answer... The instrument is uptrend on the long term, but it looks indecisive at the moment; from the chart we can see it is in a range between two Fibonacci levels (and one of them is a resistance as well). If we entered...

AlbionTrader Updated 

The retracement line on M15 and on M30 is squeezing the bars towards the Fibonacci level at 1.04958. The same trendline holds for H1 as well (see ) A bar closing under that trendline would probably lead way to a further continuation downwards, The trend has been short for a bit now as you can see on both H4 and on D1 So, in case the price finally breaks...

AlbionTrader

#AUDJPY hitting the head on 85.345 and possible breakout downwards towards former supports at 84.575 and 83.99

AlbionTrader

Another pair trending down that was expected to follow the trend for this week. A point of attention is the soft level around 138.427 which offered a couple of supports and resistances in the last quarter. Once we have a price confirmation below that, we have a setup with a SL above the other day's bar (around 141.622), a first TP around the first support at...

AlbionTrader

OIL under observation for possible LONG positions. The indicator in my algorithm has shown good results in this last month on the Daily chart (blue rectangles in the original post on my blog). This ticker has been ranging in a box between 53.00 and 56.85 (apart from a couple of false breakouts long) which suggests - together with macro indicators - that the price...

AlbionTrader

Another pair that closed on the verge of either a bounce or a support/resistance break. EURAUD stopped on Friday at 1.41748 with a very short body that suggest a price confirmation in the area that has been a support quite a few times in the last quarter. If the EUR appreciates, there is still a soft level to consider at 1.41328 so for the moment the...

AlbionTrader

#EURGBP has been trading in a box in the last week. Macro indicators from all sides show the weakness of the GBP, so we expect a breakout LONG with some levels of TP for the short/medium term: around the 88, around the 89 and then further up to 89.5 and over to be confirmed by technical indicators. A bit of reassessment was expected to happen at the market...

AlbionTrader

USDCHF might open interesting opportunities if the level around 1.00641 gets broken. There are three different supports to look at downwards: 0.99421, 0.98382, 0.97390. While breaking the psychological level of parity might be not probable, the Risk-Reward-Ratio in this case looks really appealing. A factor of risk is the volatility shown in the last month or so...

AlbionTrader

USDJPY has closed the week down a neat trendline. A bullish bar (inverted hammer) has appeared on the H4 timeframe and this is reflected also on the Daily timeframe (in the screenshot). The trend seems clear and is still trading under the EMA, even if the macro factors driving the USD might probably come into the game mid week. If we trade what we see, we can put...