FieryTrading

FieryTrading

DOGE is a particular coin. Nothing really happens until it shoots up, often with more than 300% increases. The area around 20 sat (green) is considered a major area of resistance wich also functions as a trampoline, sending the price to the moon. Luckily for us, we are currently in this "trampoline-area". If DOGE's past is indicative for the future, we could see...

FieryTrading

EUR/USD broke through the bull-flag that it's been following since July, signalling new bullish movement ahead. For now, my target is placed at $1.21, the 2017 high. It's the first big resistance that we will face in the coming month. The next target would be the 2018 high, around 1.26, but its too early to call that a possibility. Let's first wait out the coming...

FieryTrading

Silver has seen a massive increase in price and volume since March. Together with Gold, Silver is seeing new investor interest with the US election, and the uncertainty that comes with it. The green area on the chart is an area of support which often signals a reversal. Recently the price has exited this green area, indicating a new short-term bullish move. Not...

FieryTrading

USD/CAD has entered the area around $1.30, which has been functioning as a strong support area for almost two years now. Every time over the past two years this area has signalled a short term bullish move. Will the same happen again? The green marked area is an area of reversal, proven by past reversals. Consider exiting your position there.

FieryTrading

XRP managed to bounce off the upper trend line of its two-month channel, signalling a downwards move. The RSI functions as a second confirmer here, signalling when XRP is either overbought or oversold. Recent history shows that when RSI and the trendline are working in conjunction the price is prone to reverse in the short term. The same has happened in the last...

FieryTrading

In my last post I predicted that Link would follow the upward channel. It seems that Link will follow this channel at least one more time: the upper resistance held strong and major selling pressure emerged. Also, the RSI on the 4H chart shows that Link is massively overbought at the moment, signalling a short-term correction. The green area would be a great spot...

FieryTrading

Since the start of November there's a noticeable amount of bullish sentiment surrounding Litecoin. Instead of moving back to the lower trend line of the wedge, it made an unexpected bullish move. This bullish move broke the 4-year wedge, without any signs of stopping soon. On the chart there are four major areas of interest: * Support 1 - $40: If the price goes...

FieryTrading

EUR/CHF has been inside this falling channel since the start of 2018. Every time the price gets close to the trend line areas of the channel, the price reverses. Consider exiting your a part positions at the first target, since it might be an area of short time reversal. The second target are is place at the 1.272 Fibonacci extension, any further than there would...

FieryTrading

EUR/AUD just bounced off the lower trend line of its multi-month channel. Prepare for a bullish move towards the red area. Consider exiting there since its close to the upper trend line of the channel.

FieryTrading

A few days ago I made the preditction that the SP500 was likely to bounce from the lower trend line towards the uper trend line. Suprisingly that prediction came true within 2 days. Now I see a new reversal on the horizon. The SP500 has hit its upper trend line and is falling again. The fact that the RSI was majorly overbought makes the reversal even more likely....

FieryTrading

Today Gold has seen a massive influx of buyers, slingshotting it through the August wedge and preparing for a golden cross of the MA50 and MA200. The last four times this has happened on the 4H chart it signalled the start of a massive bull market, with price increases varying from +10% to +20% within months The first major target should be the $2000 area,...

FieryTrading

USD/JPY has broken through its 15-month support, signalling the completion of the falling wedge pattern. Today it broke through the support with sufficient force to signal a new downtrend. Consider Target Area 1 as the most conservative target in the coming weeks. If it succeeds to break through this support, consider exiting your position at the second target...

FieryTrading

In my earlier analysis I argued that Bitcoin had a massive resistance ahead, namely the June 2019 high and the upper band of the upward channel. It seems that the election frenzy has boosted investor's convidence to push Bitcoin towards 15k. The resistance was broken by such massive bullish force that it could signal a new parabolic move this year and push toward...

FieryTrading

NATGAS has bounced off strongly from the upward channel it's been following since March, completing Elliot Wave step 3. I'd expect the price to retrace towards the lower trend line of the channel, marked in green. The lower trend line will be hit somewhere late December to my expectation, just in time to bounce back up to complete the last step op the Elliot...

FieryTrading

LTC/USD hit the upper bound of a bearish channel, as well as the MA200. The two signals reinforce eachother making a reversal more likely. Consider the red area of support as a place to unload your shorts.

FieryTrading

GBP/CHF has been following this channel for two weeks now. Every time the trend line area's are hit, a swift and powerful rebound occurs within a few hours. Consider the red marked area as a possible exit, since its close to the recent high and the upper channel trend line. The oscillating nature of the forex pair combined with the coming high volatility from...

FieryTrading

GBP/AUD convincingly broke through its channel, which held strong since early September. Accompanying this break-through, a bearish cross of the MA50 and MA200 (so called death cross) happened a few bars earlier. Target 1 should be an area where you want to unload some of your positions, in case the price will rebound from the support line. Target 2 could be...

FieryTrading

A massive spike in stock prices has occured this week, rallying towards the upper trend line of the September wedge. Unless both sides of the US elections will accept the result soon, be careful in this market. If there's one thing that investors dislike, it's uncertainty. With Trump already questioning the results beforehand, chances are that the stock market...