tradingwithyg

tradingwithyg Jun 11, 2020

Price is coiling inside the asymmetrical triangle. Historically, this pattern is prone to volatility once price reaches the apex. The next two daily candles will put price outside the pattern. If there is continued risk taking and positive market sentiment across all financial markets, then there is increased probability that Palladium will develop a new bullish...

tradingwithyg Jun 9, 2020

CRON has broken out of the descending triangle pattern (reversal) with a strong bullish candle (+21%) on 6/8/20. This is an interesting setup since the descending triangle chart pattern seemed to form at the end of the downtrend. Over the last several months pot stocks have gotten hammered. Some stocks even falling +90% during the bear market. The fundamentals are...

tradingwithyg Updated  Oct 29, 2019

Despite the US dollar sliding most of last week, USDJPY did not selloff as much as other USD pairs. As a result, price has been able to maintain the ascending channel within the right shoulder of the inverse head and shoulders pattern. Inverse head and shoulders patterns can trigger a reversal in momentum if enough volume gets behind positive price action (PA)....

tradingwithyg Oct 15, 2019

Risk trends will dictate how the next few days to weeks will play out. The last several times price has reached the $75 it has rejected and retraced to $70. Most recently two pin bar candles have formed back-to-back so the probability of bearish price action has increased significantly. Traders should pay attention to headlines related to trade and fed speak. If...

tradingwithyg Oct 12, 2019

Silver trades similar to gold. If there is severe risk aversion, expect for silver to rally. Price is trading near a previous level of resistance. If it can hold, it will become support. I would like to see price retest 16.86 before continuing higher. It would create a confluence of support. Price has already tested DS twice and it would put price near the apex of...

tradingwithyg Oct 12, 2019

Daily chart has an interesting set up. While price has been descending gradually in the flag pattern, buying pressure resumes. Would like to see buyers hold up and price move sideways to the apex if the asymmetrical triangle before moving in a particular direction. Ideally, bullish resolution. Otherwise, wait for 1400.

tradingwithyg Oct 12, 2019

One of the more interesting bull set ups in the market. Seems like the perfect storm is setting up. Quantitative easing has restarted, trade wars (China and potentially Europe), and Brexit just to name a few issues. I would like to see a pull back to $1,400 before continuing higher, but there is a possibility that it will not happen. $1,400 is a major level. It is...

tradingwithyg May 29, 2019

Recent price action continues to push the index lower. It has nearly completed the head and shoulders pattern. For this pattern to be active, there needs to be follow through on the break of the pattern neckline. I would start getting excited if price can hold below 2786. The head and shoulders pattern comes at a critical point in the structure since price...

tradingwithyg May 27, 2019

After a strong selloff last week, oil is having a relief rally back to the upside. I am looking for price to reject the ~$60 level before continuing lower. So far price respected trend resistance. If S/R does not hold I expect price to test trend resistance and reject that level. If it can do that, it would be in line with the bearish channel.

tradingwithyg May 22, 2019

Litecoin looking weaker as buy side volume fades. Price is currently trading $5 from the pattern neckline. The head and shoulders neckline is about 20% lower than the recent high, so if this pattern is activated price could fall towards the <~$70 range. Price is trading at trend resistance so I expect price to continue moving lower towards the neckline. Will need...

tradingwithyg May 22, 2019

BTC is going through consolidation after retesting $8.4k level (resistance/pattern neckline). I can see this pattern acting as a continuation pattern further to the upside. If price can break above and hold the $8.4 level I can see it continuing up towards $10k. Price faced some resistance around $9.9k back in March and May of 2018. Will need a volume spike to see...

tradingwithyg May 3, 2019

10 years later and the price is trading $100 above all-time lows. Last time price hit $750 it reversed and rallied +150% over the span of three years.

tradingwithyg May 3, 2019

Gold is trading at a critical spot. Price is trading near key support levels. However, there has been a clean break and retest of head and shoulders pattern. It will be interesting to see how price action plays out over the next several days.

tradingwithyg Apr 13, 2019

Inverse head and shoulders pattern. Closed out Friday with a push to the upside. Will be watching early next week to see if there will be any relief. RSI is on the higher end of the spectrum.

tradingwithyg Apr 13, 2019

Price is at the higher end of the range, volatility is low, RSI = oversold.

tradingwithyg Apr 13, 2019

A lot of Dollar based pairs are reaching critical points in price action. This pair is faced with a confluence of resistance. The 112.1xx level has been holding as horizontal resistance. Price has also reached the center point of the channel that it has been moving up in. If price breaks into the higher part of the channel this would increase the probability of...

tradingwithyg Apr 13, 2019

Massive wedge pattern nearing the apex of the pattern. Volatility is at all-time lows, and RSI is in the lower range as well. Last time volatility was this low (2014) price proceeded 3,200 pips (~23%) to the downside. 1.12 is a huge support area, so there will need to be a serious fundamental development to get a trend going. Stay tuned for me.

tradingwithyg Apr 9, 2019

Please refer to text bubbles on the chart to get an understanding of why I think there will be short term bullish price action.