Antonio_trader

Antonio_trader Updated 

So far the pattern is working. Retrace to 38.2% then up to extension of 1.618. It could still go higher in theory up to 2.618 extension. The uptrend line within the channel provides a good RRR for a short position. Wait for the break of the trend line and support. Happy Trading!

Antonio_trader

Pair formed a symmetrical triangle this month. Based on the latest candles, it is on consolidation mode waiting for direction. Looks like the move will be explosive. Strong resistance starting 38.2% and support slightly lower of 0.89 area. RSI formed a rising wedge, which might break as the symmetrical triangle within the triangle also seems to be on the verge of...

Antonio_trader Updated 

After finishing e-wave in the channel, we had a bounce on the upside due to Trump’s tweet, and a potential harmonic pattern forming. Price retraced to 61.8% area. A break below the current support level could already provide a good short opportunity with tight stop above the swing and target fib levels, moving the stop. C could be a small or large retracement....

Antonio_trader

USOIL shows a nice divergence on RSI on a weekly chart, signalling that a double top formation has formed. An early entry could be at the break of the support zone and trend line. Otherwise a bounce of that level could be traded as well. This could be in line with recent oil sentiment: Trump wanting lower oil prices, and OPEC+ seemingly ready to increase...

Antonio_trader

Since December 2017, eurnzd has been ranging between 1.65-1.74 and after a strong bullish momentum, now seems to be forming a bullish flag pattern. The touches already confirm it and price could still make a low before breaking higher. Either way, a good pattern trading opportunity is here. The sentiment risk sentiment is a bit unclear at the moment so put price...

Antonio_trader

Yesterday USDCAD touched on the key resistance level, but fell after crude inventories release. Today's price action on dollar strength is again on its way to test the resistance and 61.8%. A bounce with RSI divergence, or break above provide good risk-reward ratios. Happy Trading!

Antonio_trader Updated 

A symmetrical triangle formed, signalling a continuation down, could be a good place to enter or add to the position. Powell speaking in 2.5 hours so trail your stops! Happy Trading!

Antonio_trader Updated 

After breaking the downtrend line at the start of the month at the 38.2% retracement, eurjpy had steady upswings and found resistance at 132. Potential forming of the H&S can now bee seen, if the current swing will not go back up to test the 132 level and breaks lower. Earlier entry was at the ‘head’ as the trend line was broken and perfectly retested. If you did...

Antonio_trader Updated 

Today was quite the risk off first half of the day with USD, JPY surging and EUR, AUD, NZD falling. Markets continued to rally though. After forming a nice H&S pattern at the top of wave 3, EURUSD went into a correction wave 4 in an ABC formation, which went by the book: no more than 50% retracement and not getting into the territory of wave 1. Additional long...

Antonio_trader Updated 

Potential retest of the 0.68 could send the price back lower to continue the downtrend, or a break above would trigger a reverse H&S pattern. However, a lot of fundamental data coming out today and tomorrow. Fed minutes today and non-farm payrolls tomorrow, so technical setups might be negated completely by the news. Happy Trading!

Antonio_trader Updated 

After disappointing US data for unemployment and average hourly earnings, the dollar went down, finally providing a boost for EURUSD to break the resistance. With tariffs being implemented today by US and China and the Fed members finally acknowledging the overheating of the dollar, EURUSD seems to be on the way up, breaking through the 50 SMA on a daily chart,...

Antonio_trader

FTSE100 continues to rage within the falling channel, looking more like a wedge with lower touches now. Today testing the resistance again after bouncing of 38.2% retracement, 200 SMA and resistance level in the way. FTSE looks bullish on dollar weakness. Though Brexit worries with David Davis resigning could spell for a weak pound later. Break above the...

Antonio_trader Updated 

Gold formed a bullish flag pattern after Friday’s big rally, set for a continuation this week. On a weekly chart the week ended in a spinning top candle. A break above 1260/1262 area will confirm the break, also a 50% retracement level. With RSI also getting wedged in at level 50, we are set for a break. Price also in a tight range between 50 and 200 SMA. Entry on...

Antonio_trader Updated 

For the last 6 trading days, the Dow failed to close above the 200 SMA on a daily timeframe (now at 24353), showing indecision, investors worrying. A symmetrical triangle formed and is a continuation pattern after the recent sell off, yet the break on either side depends on the geopolitical developments. Looking at the S&P 500, there is also a symmetrical triangle...

Antonio_trader

Despite today's market mood, gold continued to sell off in line with the trend. The 5th Elliott wave touched the 1240 handle today as expected. Also testing the daily trend line, a bounce will make it a 3rd touch and a confirmed trend line. The previous low at 1236 as the level to break for a continuation of the down trend and could be used to re-enter the trade....

Antonio_trader

Today FTSE made a third touch and confirmed a trend line right on the 50% retracement of the move. Previously respected 38.2% fib level as well. RSI in oversold area, but going lower with the pullback. 50 SMA about to cross above the 200 SMA. Important to notice that on the 4 hour chart, the 200 SMA is right on the trend line, adding additional resistance. A break...

Antonio_trader

After testing the resistance again, dxy now shows bearish divergence on RSI. A break lower below the neckline and 38.2% retracement might signal a short. As expected, today dollar has pulled back and the White House tries to greatly ease the political tensions to bring strength to the market after recent sell off. Weaker dollar is ow better for the US and we...

Antonio_trader

Elliott Waves can map out the human psychology in the market. Gold is probably the best example to illustrate this. Current analysis show that gold is at the end of its current trend, confirmed by wave 5. The current area may start to form a reversal pattern on smaller timeframes. A break lower would take significant selling pressure, a 38.2% fib, 1240 support and...