Rally
XAU/$GOLD Analysis for XAU, looking for opportunity for short near $1245.00 area, with target of $1214.00
If $1214.00 holds support. I will long for a target of $1295.00
CIG - Cup & handle formation break-out Long from $2.87 to $3.67 CIG seems breaking out a cup and handle formation, also broken out long term resistance. Moneyflow is strong, and also has support form the moving averages. We think it has good upside potential & it can go all the way to $3.67 or higher.
It was send through our intraday alert.
* Trade Criteria *
Date first found- February 15, 2017
Pattern/Why-
Entry Target Criteria- Break of $3.10
Exit Target Criteria- 1st Target $3.43, 2nd Target $3.67
Stop Loss Criteria- $2.87
Please check back for Trade updates. (Note: Trade update is little delayed here.)
TBIO - Pennant breakout Long from $0.90 to $1.40 TBIO had a wonderful move & now consolidating within a Pennant formation. If it can breakout $1.90 it can easily hit $140 & higher.
* Trade Criteria *
Date first found- February 9, 2017
Pattern/Why- Breakout trade, Pennant formation.
Entry Target Criteria- Break of $0.90
Exit Target Criteria- First target $1.20, Second target $1.40
Stop Loss Criteria- N/A
(Note: Trade update is delayed here.)
Gold - More Upside coming?Gold has proceeded to push past the 1212 mark which, at one time, was very significant. It has continued its uptrend and at the moment is forming what could be either a double top or simply a continuation candle that will form a higher high.
Do have patience and wait and see, the NY rush hour on Monday will be very telling. Also keep an eye on the USD Index, If USD heads down, Gold and EURUSD usually go the opposite way. Choose one and don't over leverage.
I am biased toward the upside, as it is quite evident from the chart. Nonetheless, there is no absolute certainty in trading, so trade carefully and good luck to everyone!
VIRT - Possible flag or breakout Momentum trade from $18.57 VIRT seems breaking out its long term resistance forming a flag formation. On the weekly frame it seems breaking out of a downward channel. It has strong insider buying, Strong Moneyflow on weekly chart and above all moving averages supporting this Long trade.
* Trade Criteria *
Date first found- January 25, 2017
Pattern/Why- Flag formation, Breakout of Long-term resistance.
Entry Target Criteria- Break of $18.57
Exit Target Criteria- Momentum trade
Stop Loss Criteria- $16.87
(Note: Trade update is delayed here.)
Low RR EURUSD longwith the DXY getting weaker and EXY getting stronger it's safe to say we will see a rally on the EU at least into the next resistance in the 4H
US DollarIt looks like the USDOLLAR has reached a strong S/R line. In keeping with the axiom of trading with the trend, I will be looking for clear signals, when it enters the S/R zone, to confirm that it will be continuing upward. Anything can happen, but in this case, there is a decent probability that it might continue with the trend.
Good luck to everyone, trade safely and with clarity.
FTSE / UK100 Potential Rally.The FTSE has passed its historical key resistance in October of 2016. On both the weekly and monthly chart it shows a clear uptrend. My reasoning is very straight forward here, wait for it to reach the confluence of S/R and the 38.2% Fib and initiate a long position.
EURUSD - Potential Rally to 1.08500?Like anything ending with USD, it looks like EURUSD has maintained it's upward momentum past local S/R lines. My bias is favoured toward the upside until around the 1.08700 mark.
If there are clear signals this week, I will initiate a long position targeting key resistance as my final destination. Then I will look to short from there.
Good luck everyone!
Gold - Possible rally to 1250?It looks like Gold has broken the key S/R line and could potentially be heading up. I will wait till the UK/US market cross over tomorrow morning to see if it is indeed a break to the upside. If so, I will wait for a clear retest or strong price action before initiating a long position.
Good luck and clear trading to all.
EURUSD - My thoughs for the week.Hope everyone had a nice weekend, we are now back to what could be a very volatile year with Trump as president, which is good for us traders.
Based on the weekly chart, the EURUSD broke new lows at 1.03400 on Jan 3rd creating a lower low. My sense is that it may continue in that direction.
The EUR is now at what I would consider a local S/R line. If it does break up, I will enter a long position after a retest or a clear signal and then target key resistance at around 1.08500 to exit. That will also be a very good point to look for a clear signal to short.
If it breaks down, I will also wait for a retest and enter a proper time and place. Overall, I feel that EUR is still in a downtrend.
Good luck to all of you.
I'm bull. No, i'm bear. No, i'm so confused...So, bullish for now, bearish for later, bullish at the end. If i had any sense, i would grab popcorn, and sit by the sidelines watching this show play out.
As a good degenerate gambler, ahem, trader, i'll try do participate in the play, however in a minor role. small bull for now, until the 4h chart shows a new channel
USDJPY Elliott Wave Count: Correction Before RallyHey traders! I definitely want to be LONG this pair as the Yen has been weak against the USD and the trend is bullish. However, it looks as though the correction will continue toward the .382 retracement of Wave-(iii) before we see continuation. I will be looking for bullish impulses to get back into the bull rally. Updates to come - Cheers
Ending of the Goldman Sachs rallyGoldmans Sachs had a great really from November 2016 until now. The chart is moving sideways now and shows singular sell signals . The investors are less modifying their $GS positions. They make themselves ready to close their position. The sideways chart shows irresoluteness about their actions.
USDCAD in strong S/R zoneThe USDCAD -0.40% , like quite a few other currencies , is at a major zone of influence. Though the day chart shows an up trend, nothing is for certain. I am slightly biased toward the upside, however, there is high impact USD news tomorrow (today for some of you) and I will wait for it to react before making my move.
Good luck to all of you, may the trend be with you.
US Oil - Key Support. Buy Rally...?Nothing in trading is a certainty, but there are times, when given the circumstances, there are things that have high probability.
Though the weekly chart is down, the Day chart is on an up trend since Feb 2015. Oil looks like it is in a Key support range (blue zone) and my thought will be to buy when there is a clear signal of reversal. to retest the high of 54.00.
There is also the 38.2% Fib within the Key Support zone, so I will look at around that area for signs of possible reversal. Good luck everyone!
EURUSD Potential Rally?It looks like there could be the possibility of a rally for the EUR. If that is the case, I will wait for a clear signal to buy if it dips back down to 1.05300. I will make an assumption that it will rally up to 1.07200. I might take a counter trend trade at that point.
However, if it breaks the 1.07200 mark, then the next logical resistance line is around 1.08700. Thus far, at this moment, the trend is still down, however, my bias is somewhat fragile as there seems to be good momentum toward the upside. This is my humble assessment thus far.
GBPJPY (S) 2016.12.28Another entry because I was too greedy on the last trade. good opportunity to hop on a long term bearish trend showing on daily and hourly chart. Currently trading under 20/50SMA and hanging around support on daily chart. Will not enter 2nd position until support on daily has been broken.
Bitcoin likely breaks $1,000 - PT is $1,030 SKY IS THE LIMIT!!Call this premature but hey, Santa just keeps on giving! Positive karma and white rice carbohydrates will fuel this sucker past $1,000!
Congratulations to all of us who have held firmly in our love and use of the ONLY REAL CURRENCY CLASS LEFT ON THIS PLANET!!!
Yes, I am assuming it breaks $1,000 BUT HEY, if you doubt it now, you aren't paying attention!!
Using rough measure rule next price target is $1,030 but really anything can happen...
... we will dip, and we will rally, but this time next year you will dream of a chance to buy three digit bitcoin!! If we dip now, so be it, after all you must seperate the wheat from the chaff!
Guesstimating the top of this rallySo, the kingly discipline in bitcoin, aside from estimating WHEN a rally might start, is of course predicting the top of the rally.
I should add that I think it is utterly improbably to predict anything at all with a high certainty in bitcoin, since bitcoin is so young and we don't have enough data. But I'll try anyway :)
I looked at the previous rallies and estimated when they started. Even telling when a rally starts is pretty difficult. Does it start with the first green candle? Or with the first big green candle? Or when the Stoch RSI reaches 80? 90? 100?
I looked at the timeframes when the Stoch RSI hit 100. Because when it did, it stayed like this until the top was reached. The first time on this chart in 2012, staying at 100 for 2 months and 1 week. Again so in April 2013. In november 2013, much shorter, only for a month.
I think since we already ar at 100 Stoch RSI since the end of november, and the rally wasn't exactly too impressive yet, this will be a longer one, 2 months and 1 week.
This would put the top in the timeframe of 7th of february.
This would also be in line with the RSI which is still in the 80s, and probably will hit the high 90s in early february.
As for how high it will go, I can only guess that since this rally is still pretty moderate from the price-increase perspective, it resembles the 2012 rally the most. This would put the top in the 2k price range, with a maximum of 2200.
But since this is bitcoin, it might of course overshoot to 3000, or "only" hit 1500. But the likeliest target is around 2k I'd say.
After that it will do the bitcoin dance we all love, crashing down to 1000 again, and bouncing around until the start of the last rally of this bull cycle. I gues this will happen in late 2017 with a top of this bitcoin historical 3rd wave in the 8k - 10k territory.
I hope this helps, enjoy the ride and be prepared for everything! :)
