Sublime_Trading

Sublime_Trading

Gold had an attempt at the August 2020 all-time high at $2075 this month but has come short of even breaking through this level. Price was only $5 away from having a shot at creating a new record high, but the sellers came in strong to ensure that never happened. What does this mean for price now? Since there has been some short-term weakness, we want to...

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Last week I posted on Gold and highlighted the fake breakout of the September 2011 high at $1920. Despite February’s candle forming a fake breakout of this level, we see strong moves above it again. Price could end up closing below $1920 by the end of the month, but the buyers do appear strong for now. When Gold trends, it usually lasts for months and...

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Last week we witnessed a 6.78% decline in the FTSE 100 and just a few hours into this week, price has already declined 2.81%. The major support of the daily 200 simple moving average failed to hold price up last week so we must look at further levels of support. Since May 2021 a low was formed at 6823 and has held strong ever since. There was an attempt to break...

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Gold has made good progress this month, forming a strong bullish candle despite being in an area of consolidation. Price ultimately needs to break above the August 2020 all-time high at $2075, but there is another resistance level in the way at $1920 from the September 2011 high. This month’s candle pushed above this level, but the sellers have pushed price back...

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The S&P continued to display plenty of volatility last week, where we saw a strong move to the downside, breaking through significant levels of support. Price did appear as though it was going to continue its descent, but the buyers were able to reverse the direction of the move, ending Friday with a big bullish candle on the daily timeframe. The 50 simple...

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The GBPYJPY has seen some strong trends in the past and as a result of the 36% decline in 2015-2016, price has been in a long-term period of consolidation. This consolidation range is between 156.60 from the high of February 2018 and 124.78 which is the low of October 2016. Price has pretty much remained in this range. The reason this forex pair has come to our...

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The S&P 500 is back below the daily 200 simple moving average. The last time it traded below this indicator was towards the end of January 2022. What does this mean for price? Not much at the moment as price is consolidating at the moment so we can expect to see moves above and below the 200 simple moving average. The high of the consolidation zone is at $4818...

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The S&P 500 started off the year volatile but we are starting to see price organise itself with the aid of the weekly 50 simple moving average. The last time price came into contact with the 50sma was in June 2020, near the start of the current bullish rally. It wasn’t a surprise to see price run out of steam as it had been such a strong run. We identified...

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A pattern is forming in Bitcoin if you know where to look so could this signify what will occur next for this highly traded cryptocurrency. In April 2021 price declined from circa $65,000, dropping 55% to below $30,000 in June 2021. Then after a rally, price declined from just under $70,000 in November 2021 to circa $33,000 in January 2022 and this drop was...

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When price approaches a level of support or resistance that has not been broken in years, we must take note because a huge trend usually follows a break of such levels. If we take a look at the consolidation zone for the EURGBP, it began from the October 2016 high at 0.9225. A low was then formed in April 2017 at 0.8297. Since then, price has mainly been trading...

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When the decline began in early January, the 20 and 50 simple moving averages were the obvious levels of support. After those levels were broken and price gained momentum to the downside with big bearish candles, the next level of expected support was the 200 simple moving average. On January 21st, price sliced through the 200 simple moving average with ease and...

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Bitcoin is again proving how volatile and unpredictable the cryptocurrency market can be. The start of 2021 was bullish, then after a 55% decline from April to June 2021 price rose to create another new all-time high at $69,000 in November 2021. Since then, another decline has developed, seeing a dro of 51% so far. What we can see now is a consolidation zone...

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The markets are displaying weakness which usually kicks in during the month of February but came early this year. We started to see declines from early January but for now, the overall market remains bullish. The Nasdaq and the Dow Jones broke and closed below the daily 200 simple moving average on January 20th. The S&P lagged behind and closed below the daily...

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Crude oil is seeing bullish momentum in price following the pullback we saw between October & December 2021. Price pulled back to the weekly 50 simple moving average where it found support and has seen a nice impulsive move up this month. Since the low that was formed in April 2020, where the price of oil temporarily reached $0, there has been an uptrend in play,...

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The FTSE 100 has been gaining ground recently, with a 2.95% move for January 2022 alone. December was up 4.62%, so there is clear momentum right now. This brings a nice change from the sideways movement we had between May - October 2021. Following the all-time high created on May 2018 at 7903, price declined, gaining momentum during the peak covid pandemic in...

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Will Bitcoin finally hold from declining any further? Only time will tell, but this level has held strong before so let’s see what happens next. A high was formed in January 2021 at $42,000 but the following month price surged past this level. From then on we have seen a sideways market. This level was then used as support in September 2021 before we saw a...

Sublime_Trading

It’s the start of the year, and already, the markets are displaying a bit of turbulence to shake off the dumb money investors. This is merely a pullback for now, and there are clear signs to confirm this. We can see that the S&P has been using the 20 and 50 simple moving averages as support since the breakout in November 2021. At times when price moved lower...

Sublime_Trading

April 2021 saw price decline 51% from a high of just under $65k to a low of $30k, where the 50 simple moving average was used as support. There was a reversal back to the upside after hitting this indicator and price went back towards $65k, even exceeding the high from April. In November, price fell again and came back to the 50 simple moving average, and so far...