FieryTrading

FieryTrading

WTI Oil didn't manage to break the $43 resistance. Currently its moving down to the previous support. Consider Support 1 and Support 2 as the next targets. Support 1 being the most conservative. If we see bearish world-market news next week, prepare for a bleed to Support 2.

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GBP/CHF is following a very wide channel, of which it just bounced off the upper trend line. The GBP is in some rough weather currently, so be wary for swings. Trade this set-up carefully, wait for the price to close below the confirmation line to get some insurance in case the price will return bullish. Consider Support 1 to exit your position (partially). In...

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AUD/NZD's support managed to hold. It bounced off with quite some force, so i'd betting on a reversal of the trend, at least in the short term. Consider Resistance 1 and Resistance 2 as excellent profit areas to exit your trade.

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GBP/USD reversed from the channel that it's been following for the current year. GBP's outlook is bad. Chances of a "No Deal Brexit" happening are increasing by the day since the ongoing talks between the EU and GB are fruitless. Be careful with going long GBP in the coming weeks. Consider exiting the short trade around the green area, the lower trend line.

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NZD/USD and all other NZD pairs have seen a bullish trend over the past week. It seems this trend is correcting for the time being. The RSI was severely overbought at the moment it hit the trend line, making the reversal from the resistance more believable (and tradeable) Support 1 would be the most conservative target for a short trade. In case bearish NZD...

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GBP/NZD just exited a wedge in which it has been for over a year. My guess would be that, especially with the volatility of the last week, GBP/NZD will continue falling the coming weeks. Consider Support 1 and Support 2 as your profit targets, with Support 1 being the most conservative.

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The NAS100, an index consisting of the 100 largest tech companies on the NASDAQ exchange, bounced off the 0.618 fibonacci retracement line, also known as the Golden Ratio. It seems that the recent tech slump has ended, in the short term. Although it's true that a corona vaccine is bullish for other stocks, it doesn't mean we will stop using tech companies anytime...

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USD/JPY broke through it's upper wedge resistance this week, without any indication of stopping soon. Break-outs with a lot of volume like these can be a strong indicator for trend reversals. It looks like we are going from bearish to bullish. Consider resistance 1 and 2 as possibilities for reversal, thus exiting you position around that area.

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NZD/JPY has been very bullish last few days. With great bullish action comes also the risk of reversal. For the past few months the RSI and the red resistance area (currently a support area) have been working together in signalling an upcoming reversal. Since NZD/JPY is very overbought & above the area of resistance, I think it would be a good idea to bet on a...

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GBP/CAD just failed to push through the upper trend line of the wedge. Together with this reversal, we've spotted a bearish divergence on the RSI. The two signals working together make this reversal more likely to succeed. Consider the green area to exit your short, since the price is likely to bounce off the lower trend line again.

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LINK/BTC is steadily increasing along the upward sloping trend line. In my earlier post I argued that this trend line could again be the bullish signal you have been waiting for. It seems we don't have to wait any longer! Consider Resistance 1 and Resistance 2 as your profit targets. In case the price breaks below the Support line, beware of a shift in trend...

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At the moment BNB/BTC is consolidating around 18k sat. We might soon see a reversal happening: a bounce from the lower trend line of its wedge. The wedge has been holding strong for over a year now, will it continue to hold? Before entering the trade, make sure that the reversal is actually confirmed. If a daily candle manages to close above 19.5k sat, we might...

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EUR/GBP broke through it's multi month wedge, on the downside. Wait for the price to break the first support before entering as it might reverse there. As soon as the 4H candle closes below Support 1, consider entering your short. The target should lie around Support 2, since it's an area of great buying pressure.

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CHF/JPY appears to be following the wedge it's been inside since early July. In my earlier post I argued that the price could follow this wedge another time, it seems its doing just that! Consider the green marked area as a strong support, a good place to exit your short.

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Since the start of the month Bitcoin's price is following an ascending wedge, which is a classical bullish pattern. With the recent influx of volatillity in the markets, the price of Bitcoin might follow this wedge for a short consolidating phase. When the price breaks this wedge, prepare for a strong bullish run towards 17k+.

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GBP/JPY bounced off the lower trend line, staying within it's channel. Assuming it will bounce back and forth, consider the red marked area for a potential exit of your long position. Follow the trend!

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EUR/NZD has exited the wedge where it has been inside for all of 2020. If today's volatility will remain, expect the price to drop even further. Support 1 and Support 2 are great areas for short- and long-term targets.

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We've all seen the massive bullish movements of the markets today. And luckily for us, volatility means new chances. In my previous post I argued that the SP500 was prone for a correction, especially after the massive rally it had since the election. Little did I know about today: a corona vaccin. Currently the SP500 is above the (logarithmic) trendline that it...