I'll be watching the price action from first thing Monday and as soon as there is a confirmation I'll be going long.
Gold recently made a higher high and then bounced off the resistance turned support. Monday morning if it continues to hold this level and starts making higher lows then I'll be entering long. Reasons for entry: Breaking up from a bull flag following a strong upward move Making a higher high and then finding support from previous resistance Lots of...
Given the strong thrust upward I wanted to see how sustainable it was and how it compared to the previous bull run. Interestingly enough it fits quite well. I'm posting to see how well it tracks this over time.
A chart for me to keep an eye on how brent is tracking up the channel. Once it breaks out and can't hold it then it should be ready to short.
For my tracking purposes. If Coffee can break this channel it could be on a decent trend long.
AUD should continue it's downward trend shortly and should make another fail. If it taps this trend line then it should make a fairly good short entry.
It is looking like it could turn down temporarily and then move up to the upper channel. This also agrees with the the USD possible correction idea I posted as the USD is very over-bought and needs to correct before continuing it's bull run. The question is will the EURO start trending up now or after it goes down and hits the lower trend line. The big...
This is my, "watch out for a USD correction sometime this year" graph and what appears to be history rhyming
AUD has been quite bullish lately but the fundamentals and long term trend are against it. From a technical pov it could continue though for a few more weeks but then will need to make a move. Given the size of the triangle its in that could be down to 69 which I think it could fall quickly to and then hit support around there and then continue again...
Looks like it could range up and down for a period while it traverses across and then eventually track down once it crosses the long term upper trend line. The better trade would probably to go long once it hits the lower longer term trend line as that could go for many pips on a usd dollar bull run
Looks like a strong downward trend could continue