Here are the target levels and lines of resistance for Gold. Sustained break of 1185 negates.
I am long Cable from 1.5950 with a very short stop below. Here I publish my reasoning based on a simple analysis of the price action and the diagonal lines of movement. The upper level was never properly tested after the referendum and I reason that there are still sellers lurking.... Also see where the axis of intersection occurs just above the 63 level? If price...
Just for the moment the DXY is in retreat and a drop to the 83 - 84 level could be all it takes for the the Euro to push upwards. The higher it goes the less sleep Draghi gets and the noise could finally make him pull out the plug to stop the whole thing overheating. That would make a nice initial wave for a power down. The boys crowded round the 1 hr resistance...
Looking at the price action since the Scottish Referendum panic it seems as if that event threw off an energy cloud thats now looking for a place to go. Theres no real momentum in the market and price hasn't moved anywhere. Cable is having to sit on the naughty step for taking a hammer to the uk constitution and throwing its toys around because of how unfair the...
This has the hallmarks of a classic short squeeze 62+ Any comments? (After hitting the 1.5980 area first) The eurgpb looks to set up short term long/short and there is an interesting pattern in the sp500 - here's a different viewpoint
As those who have read my posts on cable will know I am short this pair and here I publish my reasoning. Now I don't think that the break of 1.5880 was a fakeout. We shall see soon enough. I will adapt my trading strategy at the mentioned level.
As I suspected 1.5880 was a level to respect. Has it been broken or faked? There is a lot up in the air now and I am tempted to take all my short trade profit for the moment. Here are all the key levels, clearly laid out. Regards to you all. (ps you can clearly see the significance of that g a p at the 1.6272 level)
Stop looking at the duty free and report to the boarding gate.
And here is a neat Gann Box version of the last analysis which suggests we could hit the long term trend line that started life on 28th December 2004 / 1 January 2005 that takes us to the parity by 2017 suggested by Goldman Sachs. And who was vice chairman and managing director of that institution from 2002 - 2005 ? Yes you guessed it - Mario Draghi Now 2017...
By my analysis it's probable that we have arrived at the epicentre of the descent that started in May. Look at the RSI slope between May and July. Powering up for the big drop with little price movement. Now look at the RSI over the last two weeks. Big similar slope but very little real movement and lots of turbulence. Expecting a rise to the 1.28 area followed...
Very good RR and upward momentum through clound. Clear objectives.
For any of a bearish persuasion here is a comprehensive levels chart with some calendar dates thrown in free - all the way down to 1.5008
Here is an analysis of my trade from Thursday last. Even though it targets 1.54 I expect a reaction at 1.5880 as I have often said. Nevertheless this trade takes that possibility into account. All critical levels and dates are indicated
Here is a daily chart of the SPX500 with key levels indicated. Break under 1893 puts us on watch for deeper correction. Otherwise rally to all time high at 2030 to create head and shoulders. Break under 1859 very negative and 12 November is a date to watch.
I have just published this idea with full description but the chart wasn't centred properly for you to see easily