Alec40

Alec40 Updated 

Gold is currently moving higher however, looking at the daily chart , we can see that the last down move on gold created a lower low. While that lower low was not significantly lower, it is still a sign of weakness & should be noted. We learned in Section 1 & 2 of my "How to read structure tutorial", when we should begin to look for a trend reversal & the simple...

Alec40 Updated 

Hey Traders, I shared an idea regarding the Dow Jones back on June 9th 2017 & in that idea, I stated that the Dow was forming an Ascending Triangle. I placed a yellow zone on the chart in that idea to illustrate where traditional targets for the Ascending Triangle should be.. The Dow has managed to breakout of the Ascending Triangle formation & has shown the...

Alec40 Updated 

Ascending Triangle on the Dow! It looks like the Dow is setting up to go higher here along with stocks and bond yields!

Alec40 Updated 

Hey Traders, I recently posted an idea regarding Gold & a possible reversal coming in the metals. We got confirmation that the metals have reversed trend on the 4hr chart therefore I have closed my long position and opened a new short position to take advantage of the weakness in the metals. We are seeing a Head & Shoulders reversal along with a bearish flag...

Alec40

Hey Traders, I have put together a few brief charts to break down recent price action & show some important price levels that we need to pay attention to in order to understand where price is likely to go over the next couple of months. As of right now I am bearish on Gold as the short term trend is down. The chart below shows what needs to happen before I will...

Alec40 Updated 

By the time you are done with this tutorial, You will understand Structure, Trends, Reversals & much more! This tutorial will teach you how to dig deep into the charts & analyze where price is likely to go next! Reading Structure can be difficult when you first start trading, however most professional traders (if not all) understand structure very well and it is...

Alec40 Updated 

Hey Traders, Today the Fed will make the decision weather or not to raise the federal funds rate. Many people believe that higher interest rates are bad for Gold however higher interest rates in THIS economic environment are NOT bad for Gold. This cycle of rate hikes have been extremely bullish for the metals. In Fact, it was the rate hike in December of 2015 that...

Alec40

Hey Traders, we have a possible trend reversal setting up on the 4 hour timeframe. We had an impulse move to the downside and price has consolidated creating a Bearish Flag Pattern. As some of you may know, a flag pattern is typically a trend continuation pattern however Gold is technically still in an uptrend according to my rules for identifying a reversal. One...

Alec40 Updated 

Hey Traders, I recently published an idea regarding Gold being in a long term Symmetrical Triangle formation. I expressed that the target for that trade would be close to a $330 move!! We do not know if this is a false breakout therefore I would not recommend treating this like a breakout yet. I am personally waiting for entry based on a couple different...

Alec40 Updated 

Hey Traders, I am seeing a new Macro Trend Beginning on US Dollar Index 0.08%. If you are not sure what my conditions are for a trend reversal, Please check out my recent tutorial on "How to read structure (Charts) Tutorial. Charts 1-5" (Linked Below In related ideas). I think the dollar is setting up for a small bounce here and this may cause a pullback in the...

Alec40 Updated 

Hey Traders, I am going to do a short free tutorial on Simple Patterns. This tutorial's purpose is to show you: -How to Identify Ascending Triangles -How to measure the move to project price targets -Examples of how you can create a rules based Strategy around Simple Patterns. - Psychology behind Ascending Triangles The Ascending Triangle is a Bullish...

Alec40

Hey Traders, Gold is at a crucial price level right now and we need to keep a close eye on how traders react to this level. We have continued to get round after round of bad economic data & this is beginning to look like 2008 all over again. With that said, this doesn't mean Gold is going to go higher. Gold may actually go lower and continue its long term...

Alec40 Updated 

Hey Traders, We are seeing a setup for a possible trend reversal in Energy. I recently posted an idea regarding energy and in that idea, I explained why a new micro trend may be beginning. I am seeing the same setup again and have entered a long position to take advantage of another micro trend.! Be sure to check out my previous idea "Energy Sector Rally! New...

Alec40 Updated 

Hey Traders, I am seeing some good setups on Gold 0.55%0.55%right now and would like to share with you how I plan to trade them. I have 3 Support and Resistance lines that I believe to be important price zones for Gold 0.55%0.55%. I am using these price levels to gauge where price is likely to go next. These support & resistance lines (zones) is where I will be...

Alec40 Updated 

Hey Traders, We are seeing a Bullish Flag Pattern on Gold. This Pattern is easy to see on the lower timeframes as it has not fully developed on the higher timeframes yet. I am showing this Flag Pattern on the 30 min Chart. I plan on entering a Long position if price can break out of the Flag Pattern & then have a shallow retest near the yellow area highlighted on...

Alec40 Updated 

Hey Traders, We have a Bullish Cypher Pattern on Gold. Technically the Pattern has not yet completed however price is at a strong level of resistance and may decide to head higher before reaching the .786 retracement. I have labeled two different ways to trade this pattern. There is a Aggressive Entry around the resistance level and a Conservative Entry based on...

Alec40 Updated 

Hey Traders, We have another WBA trade. I have highlighted some of my most recent trades on WBA. There is a lot of institutional traders present in WBA, and we can gauge where they are most likely to be putting there money next. Those of you who have been following these trades know that they have been very accurate and educational. My most recent idea on WBA...

Alec40

Hey Traders, I shared this idea as an intro to a structure based trades tutorial. I plan on doing a full tutorial on how to read structure and how important it is when trading. I have attached two snapshots below of current setups on Silver that I will be watching. Silver has been in a downtrend on the 4hr chart however that trend has reversed and I think Silver...