Sublime_Trading

Sublime_Trading

We last posted on the GBPCAD on March 28th when price was being propped up by pivot support. Price has broken through these levels and is now also trading below the round number 1.8000 and the weekly 200SMA which we would have liked to have seen hold strong as support. Price is now back at our entry from initial break an close above 1.8000 last month. All is...

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We last posted on the TRYJPY on March 19th after price had broken support and triggered our short position. Since then, price moved further into profit before pulling back to retest the drawn-in pivot resistance. Price has since bounced off this resistance level and is weakening nicely. However, we need a break and close below the drawn in pivot support...

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We last posted on the EURUSD on March 24th when price was firmly in consolidation. There has been no change on this since then with price still trading sideways between the drawn in support and resistance levels that define the high and low of this range. Overall, our bias is still very much bullish with price trading above the daily 200SMA and the round...

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Fever Tree Drinks is still in an overall uptrend on the monthly and weekly timeframes. On the daily chart price is above both the 50 and 200 simple moving averages. As we know the 50 sma is normally used as support in an uptrend and that seems to be the case with this stock. At the moment price is reacting to the 50 sma and has bounced off that area. If the...

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3IN was in a period of consolidation that began in July 2016. After price broke out of that consolidation zone it used the resistance as support and now looks set to tackle the next area of resistance. The resistance level we need price to break is at £2.15 and if it does get through then we may see a trend form like the trend we saw from 2014 to 2016. Price is...

Sublime_Trading

Here at Sublime Trading, we focus on all the markets that includes FX, UK stocks, US stocks, commodities and cryptocurrencies. We do not have any attachments to any single market such as FX and to any single instrument such as Apple, gold, oil or the EURUSD. Instead, we move to where the money is by using a sophisticated scanning process to identify where the...

Sublime_Trading

We last posted on the GBPAUD on March 20th when price had broken out of consolidation and was showing signs of bullish strength. Price, since that last post, continued to gain momentum but that has been halted by key resistance in the form of the weekly 200SMA. It is now a waiting game to see if this halt is temporary before the bulls regain control of the...

Sublime_Trading

Coca Cola is a household name and a company many investors may be interested in trading and it is potentially on the verge of breaking out. On the weekly chart we can see that price has bounced off the 50 simple moving average where it found support. The sellers were unable to gain control and the buyers forced price to head even higher. The 200 simple moving...

Sublime_Trading

We last posted on the USDJPY on March 23rd when price has broken and closed below, suggesting a continuation of the bear trend. Ideally, we would have like d to have seen price trend in a neat and linear fashion but instead price pulled back to the resistance level close to the entry point of our trade. Because of the way we manage out stops, i.e. not being...

Sublime_Trading

Here at Sublime Trading we do not believe in re-inventing the wheel with some of the techniques that we use when it comes to technical analysis. Before the internet, charts were drawn by hand and for that reason, old-school traders were very selective with the information they put on their charts. Charts were clean with the main focus being on price. A handful...

Sublime_Trading

We last posted on the GBPCAD on March 23rd when price had pulled back to a pivot support level. 5 days on and we can see there has been little change in price. However, the positive that we can take from this is that this pivot support level is holding strong. If we look at the structure of the trend from January when priced bounced off the daily 200SMA, we...

Sublime_Trading

The FTSE 100 has been bearish for a few months. Price at the moment is below the 50 and 200 simple moving averages. Price did not look like slowing down but today it has bounced off a strong support level at £68.75 from May 2013. Since we are below both moving averages, this bounce does not mean much just yet. For price to become bullish again then we need a...

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The USDSGD is an exotic that is a regular on our watchlist. It is a slow mover but trends very well and hence a great addition to balancing out a portfolio. If you look at the monthly time frame, you can see how well this trends from 2002 all the way through to 2011. Since 2011, however, this has been difficult to trade with short lived trends and extended...

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Burford Capital is still hovering around the support level which I mentioned in this previous post. It is normal for price to retest the consolidation zone but it is unclear for now whether price will return back to consolidation or bounce off that zone before moving higher. The time in which this may happen is not certain right now but what is certain is that...

Sublime_Trading

We last posted on the AUDJPY on March 17th when we were waiting for 2 key support levels to be broken. The first, the drawn-in pivot lows of March, have now been broken and confirmed as resistance. This would potentially offer a short entry into the trade but this is where we are applying patience and waiting for the next key support level, the round number...

Sublime_Trading

There has not been much change on the EURUSD since our last post on February 28th. Back then, we were waiting for a breakout and we can see that there has not been much change since then. Price has remained in consolidation and we still require a break and close above the 2018 high. Price still very much has a bullish bias to it as it is trading above the...

Sublime_Trading

Never expect instant gratification or for price to shoot in a straight line. This is very much a short term mentality and why many find themselves trading on lower time frames battling inconsistent results. Instead, embrace the fact that a trend is a function of time. Take fashion for example. Trends are a minimum of 3 months based on seasonal wear. Other...

Sublime_Trading

The UK FTSE 100 appears to be bearish but on closer inspection of the weekly chart, it shows us that the bigger trend is still bullish. Price is at a strong support area which could hold strong and send price back on its way up. We can not predict the next move but we can be ready for the possible outcomes and take advantage of it. If price starts to head back...