Interesting potential trend reversal on weekly chart. 4hr chart double bottom and dragonfly doji caught my attention. A combination gives you a longterm trend with ultra tight stop-loss.
I don't buy the thesis that gold is a safe haven. There are 76 times more paper gold traded than there are actual, physical gold in the world. For the last couples of years alternatives have emerged such as cryptocurrencies. I know they have been heavily criticized as they are not regulated by central banks. However, on the other hand the traded gold papers have...
ABCD and stoploss around potential 0.618 resistance. Announcement on oil reserves on wednesday. TP at previous bottom. Think I'll keep it even longer. Will see oil in the trading range 25-50 dollar for a while. A healthy approach to a financial drug! Check out Traderholic.com :-)
This trade depends on how the market opens. I made this analysis this weekend :-) Link to video: traderholic.com
Not confirmed yet, but please note that we've got: - Resistance - 0.618 retracement - Bearish trendchannel - Possible AB=CD
Chose the far right top to be shoulder because this is where we maybe see the breakout. If you disagree about the shoulder; move target to 77.800 instead. Happy trading :-)
Didn't break trendline. Testing support levels. If if breaks; the next support will be target. Happy trading :-) /Ramsing
Nevertheless this is an idea that came up. If it turns out well it's a terrific Risk/reward. We still have new bullish highs and lows - that's where i keep my main focus. First time I'm long on TradingView. Happy trading, everybody! :-) /Ramsing
When you are shorting (if) is up to you. Maybe a better sell opportunity will occur, but the Risk/reward at this level is already more than fair. If you have a contrary view - please don't hesitate to send a Private Message or share your idea here. Consider giving a like :-) Happy trading! /Ramsing
I KNOW it sounds crazy that the oil should go further down. But: - So did the most think when Oil prices went from 120 to 90, 90 to 50 and so on. - The support and trendline couldn't make it - Oil constantly makes lower highs - The highs since the top is quite similar to the ones from the bull up to July 6th. Can't help thinking that this is a reverse movement....
Wait for confirmation. The red/green boxes to the far right are alternative Target and Stop loss if we go bearish! Stay tuned :-)