krugman87

krugman87

Watching for ETHXBT cup and handle breakout.

krugman87

Last Friday SPY had formed a very large 2 bar reversal from a key support and resistance level. This could see prices rotate down towards 2600 before potentially finding some support. As this market has been strongly bullish , caution is more than warranted if you are looking to short it. Although, this looks to be the best bearish setup that I have seen since the...

krugman87

In USDPLN we have a nice bullish setup on the weekly charts with a bullish inside bar / pin bar fake-out that has formed off of the bottom of a rising triangle. There have been numerous attempts to break out of this rising triangle, with a number of the attempts producing bearish pin bars which saw price drop immediately lower. Even so, price has continued to...

07:06

krugman87 Updated 

The EURUSD has formed a bearish inside bar / pin bar fake-out. This has formed on the weekly charts. There are a number of things to really like about this setup: not only is the pattern itself large and well defined, it is also setting within a larger overall bearish trend, and has formed just beneath some key resistance levels. It really checks all of the...

09:34

krugman87

An inside bar / pin bar fake out pattern has formed on the XLE weekly chart. This pattern has formed just below a key resistance level as well as the 50% retracement of the last swing high/low, which is exactly the area we want to see this form. One negative with this setup is that price has formed a very sharp v-shaped reversal off it's lows. That doesn't mean...

03:55

krugman87 Updated 

The AUDUSD has formed a bearish pin bar setup that is very similar to the NZDUSD. The big difference is the bigger price action picture. The AUDUSD is the weaker of the two, and may end up providing more downside if price breaks down in a major way, but I think both charts have attractive setups worth considering.

04:58

krugman87 Updated 

The NZDUSD pair has formed a nice, large bearish pin bar. The pin bar has a lot of positives going for it such as a very large upper wick, narrow body, and also the fact that it has closed below the upper trend line of the pennant that is currently forming. The negatives with this setup that I think weakens it a bit is the fact that price is still contained...

06:41

krugman87 Updated 

Silver has formed a bearish pin bar setup. There is a bit to be desired in this setup, but I think it does set up an opportunity for price to break lower and retest the 14.80 region. In regards to the pin bar, the real body is sitting a little bit high with a little too much bottom wick. I think it weakens the pattern a bit, but it is a fake out none the less...

08:21

krugman87 Updated 

In DXY we have an inside bar / pin bar fake out pattern that has formed on the weekly charts. This pattern is considered a bullish pattern and has formed within a larger bullish pennant pattern. Last week we saw price break out of the pennant and then pull back in, setting up a short-term bearish scenario. That saw price drop all of the way to the bottom of the...

krugman87

Short strangle on SPY with a short delta bias. The call is at 288 and put at 259. It is offering about 300$ in premium. My leverage on this is about 0.5x (account balance / underlying notional value). This is a somewhat directional play as well as a short premium play.

krugman87

The US Dollar formed a very bullish candlestick pattern last week. The pattern was a large bullish pin bar from a pullback off of a swing high. There will be an immediate test of resistance at the 97.00 level and if that is to break we could see it quickly rise up to the 99.50 - 100.00 level before meeting for serious resistance. I wouldn't be shorting the...

krugman87

**Keep in mind that the daily candle is not yet closed. This pattern is not officially in place until today's candle has closed.** Silver has formed an inside bar / pin bar / fake out pattern. This is where price winds up to form an inside bar, followed by a breakout and immediate pullback into the other direction. Price will still need to break to mother...

krugman87

After an already impressive few months, gold doesn't look like it is ready to have a more meaningful pullback just yet. This morning a large pin bar formed as price broke below horizontal and trend line support and then immediately popped back up. In candlestick analysis, these are fake-outs that we look for to fuel moves in the future. As price broke below...

krugman87 Updated 

The case for the bearish rising wedge strengthened today as a bearish hammer has now formed off of the upper channel of the rising wedge. This market has been very strong as of late but the overhead resistance, rising wedge, and now bearish hammer should not be discounted. I think risk is to the downside right now (higher probability) unless price as able to...

krugman87

A very large bearish engulfing bar has formed on the hourly charts after a failed attempt by bulls to push price higher early in the trading session. This has very bearish implications and near term bias remains bearish.

krugman87 Updated 

Here is another look at the rising wedge but this time on /NQ. It is nearing the apex so I would like to some a break out in either direction soon, and I think we will. This is a pattern has bearish implications. It goes without saying, but anything is possible. Still, I am not discounting the bearish pattern.

krugman87

Ascending triangles tend to be continuation patterns. When an ascending triangle fails that can portend weakness. I have already posted an ascending wedge and overhead resistance that would be downward pressure on the markets. This bullish ascending triangle was the silver lining in that cloud for the bulls but with a failure of that pattern, will it finally be...

krugman87

A head and shoulders pattern has formed on the hourly charts for light crude futures. This marks the potential for a bullish reversal and a sustained break below the neckline could see price drop as low as $49-$49.50. To learn more about my trading strategies check out www.tradingwithkrugman.com