USDCHF - Bullish FlagBullish flag on USDCHF.
This is a continuation pattern and so if the price breaks resistance at 0.9310 then we could see the bullish momentum continue.
Trendfollowing
NZDCHF - pennant flagStill waiting for the breakout on NZDCHF.
NZDCHF has been in a strong uptrend in recent weeks. Therefore, I am looking to jump in on the trend using the continuation pattern as my chance to get involved.
The MACD and RVI have been very quiet, indicating that an explosive move may occur soon.
Before taking a long trade I will look for strong bullish 4h candles as a sign of support rejection and bullish confluence among indicators.
GBPCHF - ascending TriangleSeeing a continuation pattern forming on GBPCHF.
The ascending triangle is an indication of a continuation of a trend.
GBPCHF has been in a strong uptrend for a few weeks. We see an opportunity to jump in on this trend following a break out of the triangle at 1.2970.
This is nice risk-off trade, following the trend and keeping a nice tight SL just below the support of the structure.
XAUUSD - ShortShort opportunity on gold.
Price has reached resistance at 1735 level.
We have some nice bearish rejection at this level as well as bearish confluence among the indicator.
Gold has been in a downtrend in recent weeks so we are looking to get involved in this downtrend with this short position.
My TP is at the 1680 level and a tight SL at 174 above resistance.
Oil Breaking Boundaries!Oil has come a long way from the 100% decline we witnessed in 2020 where price came close to
hitting the $0.00 mark. We have seen price climb above $65 since that time and continues to look
strong on the daily timeframe (not shown) where we see a pattern of higher highs and higher lows.
Price is above the weekly 200 simple moving average and the daily 200 simple moving average and
the recovery has been strong and consistent.
The candle this week so far is displaying an indecision candle so there are some strong clashes
happening between the buyers and sellers.
There is a strong level of resistance above price at $76.88 and this is from the October 2018 high.
If price can continue to climb and break above this level then we should continue to see growth
in the price of oil.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
S&P Approaching $4000!The S&P is showing good progress so far today and if price remains the way it is or moves higher
then this will confirm a continuation of the trend.
February and the first few days of March proved to be a difficult time for investors as many stocks
went on a decline but this was short-lived as price found support levels to bounce off.
The Dow Jones led the way with a breakout the day before and continues to create new all-time highs.
The S&P is following behind and the Nasdaq is lagging further behind.
Along the way up price should continue to use the 50 simple moving average as support which it has
been using over the previous months.
Price is now on its way to reaching the $4000 round number and if this level is breached then we should
see the momentum continue to flow in the markets.
Bear in mind that when price pulls back again, it is imperative to remain calm and only manage positions
if support levels are broken. As for now, continue to profit from the current trends until the trends end.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
USDJPY - Flag PatternFlag pattern clearing forming on 1H chart.
This pattern can also be seen up to the 4H chart.
This flag pattern is a possible indication of a continuation of the bullish trend we have seen on USDJPY in recent weeks.
Strong rejection at support @ 108.40 would confirm a buy or you could wait until the break out and retest at 108.80 for a more risk off-trade.
GBP/USD: Focus on the 1.3725 Fibonacci retracementAnticipated losses have reached the 1.3775 low of 12 February, where unwinding oversold intraday studies are prompting short covering and consolidation. However, daily stochastics and the Tension Indicator continue to track lower, highlighting further deterioration in sentiment and scope for further losses in the coming sessions. A later close below 1.3775 will open up the 1.3725 Fibonacci retracement, where fresh consolidation could unfold. Meanwhile, resistance remains at the 1.3925 intraday lows. Negative weekly charts should limit any unexpected break above here to 1.4000/26.
GBP/USD: Focus on the 1.3725 Fibonacci retracementAnticipated losses have reached the 1.3775 low of 12 February, where unwinding oversold intraday studies are prompting short covering and consolidation. However, daily stochastics and the Tension Indicator continue to track lower, highlighting further deterioration in sentiment and scope for further losses in the coming sessions. A later close below 1.3775 will open up the 1.3725 Fibonacci retracement, where fresh consolidation could unfold. Meanwhile, resistance remains at the 1.3925 intraday lows. Negative weekly charts should limit any unexpected break above here to 1.4000/26.
AUD/USD: Coming under pressure14:15 GMT - Anticipated losses have spiked below congestion around 0.7650, with unwinding oversold intraday studies prompting a bounce from the 0.7620 Fibonacci retracement. Short-term gains are possible, before negative daily stochastics and the falling Tension Indicator extend losses still further. A later break below 0.7620 will open up critical support at the 0.7564 current year low from 2 February. Meanwhile, resistance is at 0.7800 and should prove difficult to reach.
AUD/USD: Coming under pressure14:15 GMT - Anticipated losses have spiked below congestion around 0.7650, with unwinding oversold intraday studies prompting a bounce from the 0.7620 Fibonacci retracement. Short-term gains are possible, before negative daily stochastics and the falling Tension Indicator extend losses still further. A later break below 0.7620 will open up critical support at the 0.7564 current year low from 2 February. Meanwhile, resistance is at 0.7800 and should prove difficult to reach.
USD/JPY: Extending January gains in JPY-driven trade13:30 GMT - Still no change in the bullish tone, as daily stochastics and the Tension Indicator continue to track higher. The break above the 107.15 Fibonacci retracement has improved sentiment once again, with JPY-driven trade extending January gains towards congestion around 107.50. Broad weekly charts are positive, highlighting later clearance towards 108.00/20. Meanwhile, support is raised to congestion around 107.00 and extends to 106.66. A break beneath here, not seen, will add weight to sentiment and prompt a pullback towards congestion around 106.00, where improving background sentiment could prompt fresh buying interest.
USD/JPY: Extending January gains in JPY-driven trade13:30 GMT - Still no change in the bullish tone, as daily stochastics and the Tension Indicator continue to track higher. The break above the 107.15 Fibonacci retracement has improved sentiment once again, with JPY-driven trade extending January gains towards congestion around 107.50. Broad weekly charts are positive, highlighting later clearance towards 108.00/20. Meanwhile, support is raised to congestion around 107.00 and extends to 106.66. A break beneath here, not seen, will add weight to sentiment and prompt a pullback towards congestion around 106.00, where improving background sentiment could prompt fresh buying interest.
Gold Breaks Support Levels!Gold was making good progress in July and August 2020 after breaking above what was then the
all-time high at $1920. It was after hitting the $2000 major round number that we saw a change
in the behaviour of price.
By September 2020, price not only moved back below $2000 but also back inside the consolidation
zone. Despite this, there was support below price from the weekly 50 simple moving average and
the daily 200 simple moving average.
The weekly 50 simple moving average was a key support level because historically it has bounced off
this level a number of times but it failed to hold price up on this occasion.
We are starting to see bearish moves in Gold on the daily timeframe and our proprietary trend filter
has turned red indicating that there is weakness in price.
The next important level of support below price is the $1500 round number which is some distance
away from price.
Should we continue to see a pattern of lower lows and lower highs on the daily timeframe then price
may continue on a downward trend for some time within the consolidation zone to the support low.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
S&P Taking a BreatherThe S&P 500 is still in a long-term uptrend which has been in play since March 2009 and currently
approaching a major resistance level in the form of the $4000 round number. The momentum has
started to slow down slightly as we are seeing a mini consolidation in play.
Just below price we have the 50 simple moving average and price has been hovering around a
resistance level from the high from 26th January 2021. Price has been moving above and below
this level and if we see a bounce off from the 50 simple moving average again then we may well
see price move back above this level.
The recovery from the global pandemic from the peak last year March has seen a move of 75%
so the slowdown in momentum is understandable but now we want to see a resumption of the uptrend.
If we finally see a break above the $4000 round number, which may prove to be a strong obstacle,
then we should see the bull trend continue in both the UK and US stock market.
Through our scans, we are seeing many stocks emerging from breakouts and potentially forming
long-term linear trends which will be confirmed if price uses the 20 & 50 smas as support.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
GBP/USD: Short-term consolidation - risk of further lossesSupport is appearing at 1.3860, whilst oversold intraday studies unwind, with prices now pressuring 1.4000. Just higher is the 1.4026 high of 26 February, but the falling Tension Indicator is expected to limit any tests/break of here in fresh selling interest. In the coming sessions, consolidation is expected to give way to fresh losses, with a later break below 1.3860 opening up the the 1.3825 retracement. Meanwhile, a close above 1.4026, if seen, would delay downside tests and turn sentiment cautiously Positive as focus then turns to 1.4100.
GBP/USD: Short-term consolidation - risk of further lossesSupport is appearing at 1.3860, whilst oversold intraday studies unwind, with prices now pressuring 1.4000. Just higher is the 1.4026 high of 26 February, but the falling Tension Indicator is expected to limit any tests/break of here in fresh selling interest. In the coming sessions, consolidation is expected to give way to fresh losses, with a later break below 1.3860 opening up the the 1.3825 retracement. Meanwhile, a close above 1.4026, if seen, would delay downside tests and turn sentiment cautiously Positive as focus then turns to 1.4100.
AUD/USD: Limited scope above 0.780014:10 GMT - The anticipated run to 0.7800 has been seen. Intraday studies continue to point higher, suggesting scope for a break, but negative daily stochastics and the falling Tension Indicator should limit scope to 0.7855. Following corrective gains, expectations are for prices to come under fresh pressure, with a later break below 0.7700 targeting 0.7650. Deteriorating weekly charts highlight potential for further slippage towards critical support at the 0.7564 current year low from 2 February.
AUD/USD: Limited scope above 0.780014:10 GMT - The anticipated run to 0.7800 has been seen. Intraday studies continue to point higher, suggesting scope for a break, but negative daily stochastics and the falling Tension Indicator should limit scope to 0.7855. Following corrective gains, expectations are for prices to come under fresh pressure, with a later break below 0.7700 targeting 0.7650. Deteriorating weekly charts highlight potential for further slippage towards critical support at the 0.7564 current year low from 2 February.
USD/JPY: Extending gains13:15 GMT - No change in the bullish tone, as daily stochastics and the Tension Indicator continue to track higher. January gains are now approaching congestion around 107.00 and the 107.15 Fibonacci retracement, where mixed intraday studies could prompt short-term reactions. Broader weekly charts are bullish, however, highlighting a later break and continuation towards 107.50, and higher. Meanwhile, support is down to congestion around 106.00, and should underpin any immediate setbacks. A close beneath here, not seen, would turn sentiment cautiously Negative and open up congestion around 105.50.
USD/JPY: Extending gains13:15 GMT - No change in the bullish tone, as daily stochastics and the Tension Indicator continue to track higher. January gains are now approaching congestion around 107.00 and the 107.15 Fibonacci retracement, where mixed intraday studies could prompt short-term reactions. Broader weekly charts are bullish, however, highlighting a later break and continuation towards 107.50, and higher. Meanwhile, support is down to congestion around 106.00, and should underpin any immediate setbacks. A close beneath here, not seen, would turn sentiment cautiously Negative and open up congestion around 105.50.
Gold Expected to Catch Bids Gold has just pushed down into our 1750 target area from the earlier post.
Now we do expect to see some accumulation at this area before a mark up higher to our longterm projections.
Wait and see how the accumulation phase plays out before trying to get in long, especially after the strong sell off we just experienced.
- Price pushed back into our 1700 - 1800 zone where we expected to see some buying pressure after a nice mark down.
- Flag pattern with 3 tops and 3 bottoms, expect this to break to the upside if we get a bounce off the this bottom support area.
- Trend RSI has retraced back into the 50% area, wait to see if it begins to turn back up indicating trend is still in the green and upside will prevail.
TWTR > BuyTWTR > Buy
> Follows Buy a trend on this price.
> There is a large volume of purchases. Feb 10, 2021.
> Causing the price to open the Gab to stand at 67 $
> It is a very important signal
> Risk/Reward Ratio: 5.28
