CeresTrader

CeresTrader Updated 

Everyone I knew piled into the short CL at 79.00 this afternoon. However, we traded a late afternoon long fib to the 61.8% level and held there as support. Then, here in the Asian session, we have held that level and briefly dipping in. I am recommending buying CL here at 78.40 level with an expectation that we are going to go through 79.00 and make a push for...

CeresTrader Updated 

Platinum has been one of the worst performing metals. However, it presents a compelling opportunity for upside should the Fed ultimately deliver rate cuts. Based on daily fibonacci patterns, it is holding support at the 61.8% percent lines. And, it is holding weekly, daily, and hourly support. Today, Monday, Feb 5th, does present a unique opportunity to get in...

CeresTrader Updated 

I feel like all we ever do is talk about gold in a wedge. But here I am. . . As you can see are are still locked tightly in a wedge. And, we basically closed at the center of this wedge on Friday. Make not mistake, even within this wedge, the trend over the last couple of weeks has been bullish. However, as there are in any pattern, there is risk to the extremes...

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Gold bulls will get their chance to prove whether or not we bull, not above 2,000 but in the 1893-1937 level in futures. Why? Bull markets are made in the holding the retracement. We did break the Daily short, exceeding the 61.8% line of the Daily Short. Usually, when that happens, it's profit taking that will bring the market back. Doesn't mean we can't break...

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Crude oil is trading it highs to low short fib at the 38.2% line. Oil has a history of trading this short fib line in this downtrend. The last time it traded this level, crude dropped from 81.72 level to 77.57, hitting the objective to nearly the penny. Now, we are trading the highs to low 38.2 level. And, once again, we are having issues getting past it. So,...

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Take advantage of the stock sell off in Europe today to join the long trend. The 50% halfway back long traded today during London's late morning. Initiate a long position and/or add to your longs here. SL is the 70% line.

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Gold is at a critical stage right now. On the long-term timeframe 4 hours+, the trend is still bearish. Looking at the four hour chart, we see that 1930.57 level holds. Two long wicks show sellers above 1930.57. The Fibonoacci short target for this move is still 1875.25. And, We haven't even breached the 61.8% line to put the trend in doubt. The bearish trend...

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Potential Double Bottom ahead of long-term support at 1941.50 . . . We hold 1952.22 level and break the 2030 level, the next target is 2140. THIS IS NOT A DRILL . . . THIS IS THE REAL DEAL FOR BULLS. Bears didn't break the big long from lows. GOLD AND SILVER are both going up and starting their next leg in their bull market.

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We reversed on Friday. Like AUD, it traded a 50% short level in NY morning session and sold off hard through there. In fact, it is a much more aggressive sell than AUDJPY or AUDUSD. Looking out over a longer time frame, you can see we traded right up the 61.8% line of the entire up move. Target for this downside is 0.61339.

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AUDJPY in a potential daily trend change. Risk off is on the table. Traded 50% short on Friday morning in NY and sold off pretty much all day. A 2nd chance short at 50% HWB short 91.90 would be a gift. If stocks keep selling off though, would expect it to head down to the 91.262 early in the week.

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UJ traded lower on Friday and could be in for a minor top here. I'm looking for a retrace of the latest up move that has seen it rally into the 138's-139s. In the sharp downdraft late morning NY, UJ setup a short setup for additional downside in USDJPY. Look for a move back up to the 138.10 area. We encoun6tered resistance and traded away lower from this area. I...

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Euro seems to be at the bottom of the range. But, the real trade is GBP USD at a 50% Fibo long of today's action. This could be a good level to be in long from overnight and into the NY trading day.

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We have a 50% Fib long of today's action in Silver. Some great trades today went to their objectives. Use a break of the 61.8% on the downside as a stop.

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Time to go long here after this nasty minute pullback on the 15 minute chart. Cut it at 20 ticks or so stop loss.

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Crude bounced smartly off of 79.69 twice, with the 2nd test just happening in the Euro session this morning. It has returned to 80.40ish level. This sets up nice for a move back to 81.80 level to try to break the short at the 61.8% line of the recent downtrend. If it can do that, it will open up further moves to the 83-84 area. And, Nat Gas has went down and...

CeresTrader Updated 

THese had good solid retracements into 50% supports, especially Silver, this morning. These charts are pretty bullish. Maybe a bit late in the day to get in but there are makings for continued higher moves and breakouts over the next few days.

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We have been short energy since the gap up on Sunday. Now, it's time to lock profits in, especially in crude oil. The bounce off the lows today coincided with a 50% Long of the upmove, to the tick. That is a warning. Those in shorts above 81.08 might let it ride, as that is the 61.8% retrace. However, given the hit to the tick of the 50% long, we are inclined to...

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Seems like we tried to break out of the range and failed today at the top. And, interestingly enough, the 50% short held through the day. So, we should see the bottom of this range. Depends on where you get filled but, thinking a break of the 61.8% line on the upside would probably be a quick exit. So, look for 3:1 or 4:1 reward: risk ratio here.