I think we might get more upside moves in the Gold and Silver price. I think the daily silver chart is looking for a buy entry today. Long term trend-line is in a bullish alignment and it's coming out of an oversold state offering attractive buy prices to investors. I EXPECT SOME SELLING to occur for the next little while and perhaps a move down and then a...
I have been following HBARUSD for a bit over a week. I was wondering why it was getting huge volumes lately. Hidden away on higher time frames 'monthly' & 'weekly' charts reveals the reasons volume and buying is on increase. Price breaking out of a triangle on Monthly chart very, very recently and price moving back to retest this breakout and give buyers...
Hi everyone, it's been a tough day in Gold Asia trading. I supported the long theory that they gave us at the start of Asia trading today. Long story short, there appeared to be a bullish gap up and price was moving up I would not say impulsively but smoothly. But price stalled twice within an hour at the top of the double top I spoke about on 2hr timeframe. I...
Take a look please at the first chart. Basically, it breaks down the past 36 to 48 hours on a 15m, especially where buying occurred following the 2536 low, impulsive move up which to me looks like smart-money or institutional money with some retailers tagging along, price is then dragged down by a Top 1 where an M-shaped pattern otherwise known M-top forms & a...
I will update this soon. Other Crypto have taken some selling this weekend, not so much BTCUSD, I am thinking they have saved the best for last. Lets' see what happens. RSI does not look good.
If you follow the stochastic's at all, esp. on higher timeframes, if you don't well that is fine, but I will share my tip, you never want to see K line (generally blue) crossing down on the D line if you are in a Long position, but an even further bearish possible move is when the K-line crosses down on the 80 Stochastic's level. Now the fundamentals of the...
EURCAD I went long about a couple hours ago as it turned. It's now on the 200EMA Daily which is a good sign. Momentum was simply fading on the downside and buying increased. This trade I will take for about 1 week and chasing the highs on this chart.
Gold on the 1hr moved downwards in this correction in a lowering wedge pattern however price moved from this wedge, moved lower today and now is building momentum for a break upwards from a triangle type pattern. More on this in 1 moment..... I need to check charts You can see the right of screen 1m chart, double bottom earlier and an upward sloping wedge on...
I see that Gold pulled back to a Fibonacci sequence number 61.8% on the 1HR chart I was watching, there is probably similar on other time frames. I think the market is waiting for Retail Sales data, high number bullish for the dollar. But lets not forget the USD$ has had a good run the past 2 weeks, Gold has fallen in some ways due to the inverse history...
Price is lining on 15m and important daily chart for a reversal in gold Daily is bullish for a reversal. Oversold. 15m chart will commence with this theme. Under 2560 is a selloff
Tron is on the move again chasing its high, not far off it. What I like about TRXUSD is that it tends to buck the Bitcoin down days. In other words, if BTCUSD is moving down on a day, you can usually expect TRON to rally. So it is like a hedge and at 0.1875 and a strong chart. I see a little turning over of the daily BTCUSD chart at the moment, so it needs a...
So about the chart, if you want to move straight to it. Far right is a Gold-colour vertical line & that is Monday's trading of earlier this week. Then several green vertical zones, Tuesday, Wednesday and Thursday of this week. 2 Red horizontal lines above and below is the Gold trading range for this week. If you are wondering how big the Gold correction has...
It simply got caught in a Top1 and Top2 system on the 2HR timeframe. The price is now at a support-line and retracing back to the TOP2. Top 3 is possible? Yes, but I think the momentum will rise very quickly and a breakout above the Top2 and a run to 1.00 will take hold. Here is the chart, with more info on the chart.
If you like to trade H&S's patterns, they can be perplexing and push a traders patience, sometimes manipulated by market makers, other times they form up like a dream. I have mapped it out on the chart I have here. It probably wont play out for another several hours at least.
Asia Thursday and very little rest for the wicked. My attempt at doing something for a change different to trading and getting a life, I ended up mowing the back lawn. Betting here against the USD, I could feel the squeeeze for a bit of love for the EURO. I like this combo, unlike Gold they don't start betting against you, if you get direction right they may...
A lot of contraction/squeeze on Gold and Silver price at these levels. I think I counted 12% correction, it happened quickly. Not a great deal of momentum as you would expect at the turnaround and the USD over 106. Will look for a proper entry to go long.
It looked a bit gloomy yesterday Tuesday for Bitcoin, but really all that occurred was Bitcoin wound up in a couple of double tops, if you call that price weakness, I don't think so they happen so frequently and there are traders who only trade double-tops, double-bottoms - the tradable patterns they form are called M-Tops and W-Bottoms. BTCUSD is cruising as...
On Friday AUDUSD looked to me a very strong case for long positions, at least going forwards a few days to a week. I took the trade Long, knowing the USD$ was strong, because that's what the charts were telling me on Friday, but today it's a difference story. The Aussie likely to get a small bounce now and further selling to then take hold later in...