peterchung16

peterchung16

The .65 is close to fibonnaci level. It is a good short area

peterchung16

1. Pull out the chart of Gold at 2012 till now. It is exact movement. We are not even break the neck line yet. 2. Every rally is a chance to sell for the bulls. The Bears started to take control. 3. The Best Bull can do is waiting for Trading Range to trap other Bulls, so that they can get out of the position 4. It is mostly a Double Top forming very...

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1. After all the apocalypse Euro collapse, the Euro is holding 1.05. The worst is over. Look at the left side of the chart,1.05 is a important mark, because it is the worst of its worst since the crisis start from 2008 financial crisis. Every rally is an opportunity to short for the bears. Bulls will sell, because every rally is a counter trend rally. 2. ...

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Bears lost the battle at 1260. So, Bears will dump all the short position to cover or dollar cost average. 1. The long term resistance is 1360. Bears will defend it, because the Bulls tried to break the 1360 3 times previous. Last year, the Bull lost the defense in 1360 because it is a Bearish Channel. The Bulls sold exactly around 1360 level. 2. Last...

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EURUSD Bearish channel is broken. It will go to 1.19 region. 1. Bears will try to cover their short at 1.19, arguing it is Trading Range. 2. Bulls will wait to see the retest region of 1.16 for follow through. 3. If the follow through is strong and retrace back to 1.16 region. It will create a HL. This HL will give a confirmation to the bulls. Bulls will...

peterchung16 Updated 

Bullish Context is unchanged. 1. Bear sells last Friday. However, it doesn't create LL. In the eyes of the Bulls, it creates Higher Low. The Bulls will try to establish a Bull Channel, possibly creating a two sided trading. 2. Look at the Context at the left and the 1265 area. The Bulls broke the Long Term Bearish Trend. The Bulls broke the Triangle again...

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1. This is a very classic Trading Range chart. It is a 20% Bull play to break the top of the Trading Range. The bulls are getting out 4 -5 times to sell out for profit taking. 2. On Sept 7 2017, the Bulls see it as a Tease Break, trapping the bear to break the 108.52 level. The probability of breaking TR is 20%. The Bear Stop selling at this region,...

peterchung16 Updated 

1. Bulls win the fight ,because Bears fails to break 1265 area 3 times. If the price action couldn't break 3 times, then it discourages the bear. Creates a void. Bulls will buy every bear bar. Every short will be squeezed. There is no reason for not buying. 2. The discouraged Bulls were trapped at 1360 and 1307. Finally, Bulls create double bottom at...

peterchung16 Updated 

There are a lots of noise about Gold. Simply, it breaks the Bearish Channel. Many are playing the game of Major Trend of Reversal. 1. The Gold rises from 2008 to 2011 top, because it was fueled by MBS bond collapses. In fact, MBS collapse is a tiny portion of the entire Bond market and derivatives. 2. 2011 is the top of Gold. From then on, Gold was in...

peterchung16

US dollar is in a counter trend rally. 1. Expects the Dollar counter trend rally to 97'ish. 2. The other play is buy into the EURUSD for this counter trend rally. Or buy into EURUSD proxy Gold

peterchung16 Updated 

The SP 500 is currently undergoing Parabolic Wedge. Parabolic Wedge in Price Action always ends badly. 1. In Daily chart, the bull keeps buying the every pullback. There are no sign of reversal 2. In Monthly and Weekly chart, it is a Parabolic wedge 3. Always Long, Scalping only. 4. The Bulls are hoping for a bearish reversal at least 5% - 10%...

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Remember the post 1 month ago. We are doing the same thing over and over again. Expect to go higher......... It is not coincidence that we call the Bull market. If you watched the Cowboy riding a raging Bull, the Bull will try to throw you off at every moment. Hang Tight.

peterchung16 Updated 

1. The fundamental picture is still very strong, meaning earnings and fiscal policy. 2. The rate hike will definitely breaks the multiyear Trading Range. 3. Buy when the SPX is going down

peterchung16 Updated 

The Sell off is simply Trading Range. 1. The Smart money is accumulating/cost averaging during the current fall. 2. The interest rate hike will only pressure the gold goes up. 3. 1206 -1216 is a good buy now. 4. The fundamental would not allow the break below 1206. Watch the action of Gold now. Every sell off to 1206 region will bought up my...

peterchung16 Updated 

Economy means Total Sum of Spending. 1. The Fiscal Spending accelerates in a extreme level. It means the Government spends tons and tons of money to keep the Economy from going south. Yes. We won't have a market crash. The worst is that the market will go Trading Range for a year. 2. The Smart money already buy from the dip. 3. The Bearish...

peterchung16

Trade USD/JPY as a Trading Range 1. The head of BOJ said that they will short their currency between 90 - 95 per dollar. They are currently doing it. www.reuters.com 2. The head of the BOJ don't want to change their monetary policy (Negative Interest Rate). That means it will put a cap on USD/JPY at 112 area. 3. Fiscal Policy (Money Printing) will only...

peterchung16

It is a good opportunity to short Gold. Since, it is a parabolic wedge and reaches to Major Resistance level. 1. 80% of the Trading Range Break will fail. 2. The Gold rally is almost without major pullback. Therefore, it is a parabolic wedge. This is the sign of the Buyers, pushing the Price of Gold up.

peterchung16

Agnico Eagle has a good short opportunity. After 3 days sell off, the bulls argues that there is countertrend trading opportunity. As long as the Bear channel is in tact and broad. There is opportunity of countertrend trading. The probability for short is 60% at this current moment. Since, the Bear channel is not broken. The counter trend trader will try...