MrVolcano

MrVolcano Updated  Jan 26, 2017

Following yesterday's nice big Bullish Engulfing signal on the D1 chart, price has broken out of the recent consolidation channel and has retested resistance as support, giving us a better risk/reward entry and with some added confirmation that price is definitely moving upwards. Daily

MrVolcano Updated  Jan 26, 2017

Price has broken above the wedge, but is rejecting the upper channel, and is only 40 pips short of touching the multi month channel which started in August 2015. Rejection of upper wedge channel Rejection of upper multi month channel Rejection of Fib 38.8% retracement level Rejection of previous S/R level It's not a proper pinbar, and it's only on the...

MrVolcano Updated  Jan 26, 2017

After a great bull run, EURJPY has consolidated and retraced back to between the FIb 23-38% levels, and appears to have found support at the previous SR level of 121, where a Bullish Engulfing signal has formed, breaking the 4hr sideways trend line. This is also the 50EMA. Stoch has crossed up above the 20 level, suggesting we can now go long. Although I...

MrVolcano Updated  Jan 25, 2017

Price is now showing clear rejection of the upper trend line. Bulls tried a couple of times to push through, but look exhausted now and bears are stepping in. Yesterdays bar clearly shows rejection of the 0.9600 level and also engulf the previous 2 days bars. I'm hoping that price will now head to trend line support at 0.9100, but there is also previous support...

MrVolcano Updated  Jan 25, 2017

Gold is at the fib 38% retracement level and could be about to move lower again. That said, recent bulls action has been looking strong, so we need to get a clear price action signal before entering short. There was some small rejection of the Fib38% level on 12/01 but it was by no means compelling - more of a whimper, but it does show that there is at least...

MrVolcano Jan 24, 2017

Price had broken the short term downwards trend line, and has retested previous support which appears to be holding. Price has been in a range since October and I'm trusting that price will head higher and retest resistance at 1.45. 1.45 is confluent with the top of the range AND long term sideways trend line resistance level so it's sure to be an area to watch.

MrVolcano Jan 24, 2017

EURPLN has now broken it's downwards trendline and price has started to reverse, bouncing off the Fib 61.8 level. This looks like a good opportunity to go long with a great R/R... IF price can retest the previous high. - Stoch is crossing out of oversold condition

MrVolcano Updated  Jan 20, 2017

I've been watching the rally in gold and silver recently, and it's finally looking like the bull's are out of steam. Reasons: Fib 38% retracement 1207.3 is a previous support/resistance area Price has broken below 4hr trend line support and retested as resistance Apex with downwards trend Stoch has crossed below 80 on the daily chart Daily

MrVolcano Jan 20, 2017

Correction on USDJPY is showing signs of weakening. We have a higher high and price broke further above the top of the channel, producing a small daily rejection signal, but small compared to yesterdays Bullish Engulfing signal. Price will likely head lower, either to the mid-channel or possibly to support at 113.00 and then bounce higher. A break and...

MrVolcano Updated  Jan 16, 2017

USDCAD is at a very key level. On 12/1 Price broke below the long term trendline support, creating a long tailed bar but closing below. There was a small bearish retest of the trendline on 13/1, but found support at the 1.31 level which previously acted as S/R on 19/10 and 12/12 too. Price is now below the trend line. so could head lower. The pin bar signal...

MrVolcano Nov 24, 2016

Nice opportunity for a quick long here. Price broke above the trendline (see circle) and then retested and rejected the trendline as support.

MrVolcano Nov 23, 2016

A nice bullish piercing signal formed at fib 76% level. Stoch is oversold Need price to break above the 1h trendline resistance to go Long. I expect price to hit resistance at 0.9650, before heading lower.

MrVolcano Nov 16, 2016

Looks like an Head & Shoulders formation is almost complete. I'm waiting for price to breakout below the neckline to go short. Short entry on break of the recent low candles @ 0.7067 SL above trendline resistance @ 0.7124 TP at horizontal support @ 0.6950

MrVolcano Nov 15, 2016

We have a nice bearish signal at a good level. A bearish signal with a gap down has formed at the 50% fib level of the previous down move. Pair has been in a down trend, so I are trading with the overall trend. This level has also acted as previous support and resistance, creating a good level to short from.

MrVolcano Updated  Nov 8, 2016

AUDJPY is looking ripe for some downside. Price has reached the top of a multi-year channel and is showing signs of rejection. Last week an evening star formed followed by a brief sell off, but bulls managed to jump back in hoping for a continuation. To be honest, the evening star signal was a little bit too early anyway. Today's pinbar looks justs about...

MrVolcano Updated  Nov 7, 2016

Morning star has formed signalling a strong change in sentiment. Price has broken the near term trenline (blue) and there should be some upside here to at least 1.25 or possible 1.26. Technically we are still in a downtrend and traders are going to be nervous about going long. Any negative GBP news could cause a reversal so pay close attention.

MrVolcano Nov 3, 2016

EURUSD is looking exhausted after a fantastic bull run over the past week. Bearish signals are forming at the previous Daily S/R level at 1.111, daily 100 ema, and fib 76.4% level.

MrVolcano Updated  Nov 3, 2016

Large bearish engulfing bar rejecting the daily 21 EMA, trendline and fib 38% level. Hoping for another impulse move lower.