AUDNZD 2Hafter a 200 pip decline, price is now back at daily support. From here its possible price can see a bounce back to the upside. Will be watching for a daily closure
Break
SPX: Flashing cautionary signals (again).My cautious call of 2 weeks ago may have been premature (see link below).
However, we are now seeing additional cautionary signals on the SPX :
1. Two consecutive down days at the beginning of this week;
2. Visible break yesterday on the index (gap down);
3. Reasonable volume on the downside;
4. Traded and closed below SMA10;
5. Tech indicators turning (MACD, RSI, Stock);
6. RSI coming from very overbought levels >85;
7. Treasury yields picking up;
8. Some divergence/topping signs from tech market leaders;
9. High-volume surge in the VIX (please see chart below);
10. VIX broke/closed above two resistance levels in a day.
Current earnings should bring further steam to this market, either for a highly-expected consolidation or for a rebound.
In this context, am warming up to buying downside exposure in one -or multiple- of the following ways:
1. Reducing portfolio risk by taking selective profits/losses;
2. Buying puts on selected stocks ahead of earnings;
3. Shorting the market outright (SPY, QQQ);
4. Buying volatility outright (VXX).
The rest of this week should be interesting and followed closely.
EURCHF 4HLooks like price made a double bottom to daily support, now watching for a break of the counter trendline as confirmation for potential longs..
AUDCHF 2HPrice making a double top at strong previous support now resistance. Watching for a break of the counter trendline to go short. Last time was above the pink zone, price made a double bottom then made a strong move away from this zone. Vise versa of what price is looking to do now..
CHFJPY 2HTarget this morning missed take profit by 17 pips, but as you can see price broke above resistance now looking to potentially enter on the retest of broken resistance now support.
Eurjpy 2hManaged to grab 160 pips roughly on this pair this week, now watching for a break of the top of consolidation for a potential 200 pip move to create a new high. Will be watching for a break & retest. A daily closure above 136 will be great confirmation as well
AUDUSD fallingI see AUDUSD falling from the sky.
Lets keep an eye out for this one.
As usual very tight stop loss not risking more than 2% with a 30 pip stop loss
AUDUSD 2HFOMC meeting for the dollar shortly, watching for a break to enter price is showing pressure to weekly resistance
USDJPY Another triangle pattern to watch for a break either direction. Im leaning more towards an upside break due to price sitting on a strong support. But ill have to wait & see
EURJPY 2HBreak back above previous resistance now support again. Long up to weekly resistance 136.000
Cardano analysis: 30% profit target.Very strong support zone, doubt it'll crash through. Strong resistance at 5900. However this was tested several times now, so I expect it to break this time.
I'm setting the target at the resistance after the 5900 resistance.
Remember to set your stoplosses when you enter: markets can sometimes be irrational.
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Feel free to ask me questions or to ask me to perform my analysis on a coin of your choice.
Happy trading!
US OILBreakout, now a retest to the 61.8 is a good entry to ride the deeper pullback that oil is looking to make
Long or Short depending on clear break of the wedgeI will either be going long or short on this pair just depending on the break of the candle. I will wait for a retest then go on either side.
I have a buy stop and a sell stop ready with my stop losses
EURCAD 2Hwatching for a break of the CTL for potential longs, a break of the channel & support to the downside I will look for shorts
DXY MonthlyAt 200 Ema support 88.60. In 2014 price broke out of this zone with a strong move, but never came back for a retest to validate this zone as support. Now we may have a potential retest to this level & price could potentially be making its way up from here.. Previous resistance now support. Lets see how next months candle opens up!
GBPAUD 4HWatching for a break of the supply zone for a new higher high. Price is in a small range between support & resistance
GBPCAD 4HSitting on daily support & ascending channel, im leaning more towards bounce & this could be a good swing trade next week
EURJPY 4HPrice broke out of its daily consolidation box I was initially hoping it would break to the upside, however Friday the market closed with a 4 hour bearish engulfing breakout & now looks to have validated the broken zone as new resistance. Will keep an eye out for a reversal candlestick pattern to the supply zone price is currently below
XAUUSD 4HBearish engulfing rejection to weekly resistance.. Awaiting breakout of channel & support for shorts down to potentially monthly key level 1300
