Within the present correction a bear stand is the only logical position. Sure it can turn over, and with the current volatility it may well go up or sideways. I believe there is still margin for the SPX500 drop at the very least to the 2591, as that is the full Fib retracement of the previous up swing. If Europe opens lower and Japan and China bleed all over there...
USDCAD has been a quite difficult trade. Oil is climbing and that strengthens it (makes USDCAD go lower) on the other hand the green back is getting stronger each day, which would push it higher. This Monday's strong move with a gap pushed this pair to the bottom of a quite strong channel. Also the previous up swing fell short of a perfect AB=CD, which gave a lot...
After being hammered in the last weeks by the Euro, I became very confident that currently there are no available technical bull option for the Euro. The previous week, tenuous channel, evaporated with a down swing without any fight. The marte has been swinging in the last few months in a very well defined range, with only a failed breakout (really nasty bear...
I was very lucky on my last win on the cable. This last bear bar was quite strong,and I could easily lost all my earnings. Friday's movement was so strong that iI strongly doubt it will turn around into bull land that fast. The up channel drawn may still hold, as it was just briefely pierced, so my guess is that it will now continue (at least) to the bottom of...
EURUSD was not good for me in the last week. I was short and got stopped out. Although last Friday the move was down, right now I believe most technical bearish signs have been erased, although I cannot fathom any fundamental reason for it to happen.
Momentum is definitely rising and higher highs and higher lows were formed. Plus, the last down move formed an...
This one is an interesting case. The cable has been down for a long time and its volatility skyrocketed recently. The current up move although steady, has many of the properties of a retracement. It is following a nice and tempered channel, without many attempts to continue the previous down trend. It has also unequivocally got out, in quite vigorous terms, from...
There is a clear and steep down trend in gold; it would be a great time for a retracement (and long due). This might quite well be occurring, and the continuous rise in momentum may be a sign of that. However, close to the 1215.00 there is a quite nefarious resistance region that may hamper any bull effort. Still, there is room for growth until the resistance...
It was not trivial to identify the underlying structure of the present situation, but we can see that current price has been swinging within parallel lines inside a very well defined channel. Currently we are in an up swing towards one of those (weak) inside lines. Although not yet tested, resistance may be present when closing in. If that is the case, down move...
Here is one of those difficult situations, where long term and short term are at odds.
There is a long term bullish channel that has been holding prices for a long time, on the other hand, current uncertainty has caused the price to oscillate in a smaller, and more short term bear channel. Just above the current price there is some weak resistance not very well...
The Euro is reaching the top of a very well defined bearish channel. There is very strong resistance upwards and momentum is waning. Plus, there has been a clear divergence of price with momentum. Most likely there will be a strong drop to the 1.3 (or lower) region in the foreseeable future. To embellish stuff, the Risk/Reward Ratio on this trade is very low,...
SPX is very bullish. Piercing the last channel line. There is no sign of exhaustion. Momentum (MACD), albeit decreasing, it is not diverging from price. Without an unforeseen catastrophic news, the bull trend will continue for the next 2 weeks at the very least
