Marto_Jekko

Marto_Jekko

I don't trade BTC, I hodl it but the other day I was trying to explain myself the issues behind this sudden sell off. Well technically looks like we hit YR2 which led to bouncing back to this year PP(8591) and 0.5% fibo retraction of 8476.26. From this point we could observe bounce up to R3 levels of YPP and even 1.61% from fibo retraction which is around 13 000 .

Marto_Jekko

The peak from 2015 was 17.31 and it was followed by retraction to 0.5 fib level of 11.42291(the dashed blue line). Now we experience another surge at $USD power and this could lead to another uptrend move. The weak channel formed is about to break upwards and this cold end in 17.31xx again. However, if you notice the next level as per fibo extension is way...

Marto_Jekko

$EUR is expressing weakness in few pairs and it is interesting to see how this is developing. In this particular one the $GBP is pushing down and in the past 9 years hit the weekly 450 MA() already few times. Now is approaching again where 450 MA is already 0.3360. If breaks we might witness the same penetration as 2015 and see 0.70xx area again. I will open short...

Marto_Jekko

It looks interesting since it is approaching the upper wall of the downtrend channel and if penetrates it will reach 17.30 without any issues. Please do your own research and use SL or hedge.

Marto_Jekko Updated 

I am expecting the travel to 123(June 2016 high) to continue when the price break above the channel which is forming now. In a meantime small retraction to 118.5x(100dMA) is possible to happen just to confirm. I will update on the entering trade.

Marto_Jekko

I don't trade stocks but friend of mine asked me what is my input for this stock. Clearly to me this is going down to S2 zone and then potentially to S3 i.e. ZAR8000. Not sure about fundamentals of this company or the rest of the financial analysis, and I am not planing to short it. But if consolidates around ZAR8000 this could be good entry point for long term...

Marto_Jekko

It just broke the 100MA on the daily chart and looks like it is going up again. The pennant was penetrated and it closed above 100MA I enter the trade on 9.64550 with SL 9.43250 which is below 250 MA and TP on 10.00 which is psychological level. RR is 1.60. Good luck.

Marto_Jekko Updated 

Just found out this interesting development. Looks like the price was stopped few time by MPP R1 and now is approaching it again. I expect 119.79x to be reached again soon. my initial set up is 118.789 entry point, SL 118.171 and TP 119.793

Marto_Jekko

It reached 450MA which align with YPP and both are representing very strong resistance at 1.32002. If the news allow, there probably will be move down movement to 1.29344. Again, with the current news from China this thesis might went down the drain if some other outbreak is reported. To me looks like $CAD is way more vulnerable to bad news.

Marto_Jekko

I am still bearish on this pair considering my knowledge of the Canadian economy, but looks like market will prove me wrong. The pennant forming on $CADJPY is having three points to break up and this is the third one. What could go wrong. As you could see the first stop is 100MA(83.535x) could cause the price to bounce back. Second one is the yearly PP(84.077),...

Marto_Jekko

This pair hit 450 days MA several times and already formed H&S once which was broken. I am still bearish on $EURAUD and will short again when breaks below 1.60. Fundamentals are against me with all the China deal staff but the RR ratio will be good and possible retraction to 1.48x area could be very good trade. Please do your own research and use SL or hedge when trade.

Marto_Jekko

$CADJPY is trapped between Yearly PP and Fib .236 level. The same level is aligning with 100MA and provide good support as you could see since May 2019. I am expecting some move to 450MA(83.41xx) again and retraction back to 0.236(81.42). Once this level 81.42x is broken the downtrend to 0.382 and 0.5 might continue. So far I am flat and bearish for this pair.

Marto_Jekko

Looks like XAGCAD is retracting from 0.5 Fib and now might go up again. I personally will enter trade above 22.85 which is monthly pivot point. Also, looks like CAD is going to experience significant devaluation soon according to one of the respected Canadian traders @TheMacroTourist who has amazing article about only G7 country with inverted yield curve. Please...

Marto_Jekko Updated 

On 1h chart silver is forming bearish pennant, which aligns with S2 monthly support and might result in sudden move from breaking the pennant and going down to 16.20xx-16.34xx area. Usually S2->S3 movements are very rapid. Why 16.20? because this is October S3 levels. Be careful bulls..

Marto_Jekko

$GBPCHF is trying to penetrate MA450 which aligns with and is still under R1 monthly PP. I expect first penetration on MA450 then R1 on a way from 1.28895 to 1.33445 up to 1.35800 which is 0.5 on fib retracement.

Marto_Jekko

$EURSEK could be changing it stance. As mentioned in previous analysis this pair had three shooting stars already with small reversal. Before the stars were exactly in the area where we expect to see resistance. This resistance aligns with R3 YPP from 2017 and R1 YPP from 2019. The resistance level of 10.58xx remained intact for one and a half years and now it...

Marto_Jekko

Noticed this H&S on the 4 hour pattern and if you are not afraid to short it from the next China deal fake news, be my guest. I am done for now with this deal/no deal game.

Marto_Jekko

Copper might experience downtrend to 2.532xx area which is S1 and if penetrates it might go down to 2.35xx which is next S2 on its downtrend under 100ma on weekly chart.