Rally
Butterfly pattern on NUGTIt might be time to go bullish on gold ETFs. The pattrern is clear and if the stock doesn't break below the 0.786 fibonacci level ( from X to A), the odds of a bullish rally are in our favor. It might not buy today because we are friday, but i will definetly look into it monday morning.
Entry Points for Bitcoin PullbackBitcoin is pulling back. Great timing to enter the rally. Question is WHERE exactly? Here are some potential entry points .
In no particular order:
$1,900: Confirmed support/resistance level (once).
$2,200: Mildly confirmed resistance level and 38.2% Fibonacci Retracement level.
$1,700: Pinpointed sup/res confirmation and 61.8% Fib level. The strongest in my opinion.
$1,300: Resistance level.
$900: 6-month low and support. Very unlikely to drop below that.
I wrote this short summary today: jimmakos.com
Remember, risk management is way more important than entry points. Know how (much) to trade.
WTI: USOIL: Close to target so closing down shortsWTI: USOIL It's not quite reached the target yet by about 11 pips but if it touches that perfect level it will likely only be a spike, so am closing out here and thinking about a counter rally long for 100 pips - still overall bearish though so still looking to short again, but hopefully from higher up - or on a break below first target as per comment.
EURO Dip and DriveAll right, EURO substantiate itself after recovery from bottle neck and now just it needs to prove itself by testing the support and go for higher ranges.
We're looking for bull flag as a retracement down to 1.19000 follows by rejection and reinstating 1.12020 as confirmed base.
DXY: Dollar Index and USDEUR go hand in hand right nowDXY: Dollar Index Update and confirming levels for shorting USDEUR. These two go hand in glove right now. Really helpful for identifying short term USD counter rallies and resistance points.
USDEUR: USD ready to rally from hereUSDEUR: After rinsing out the gains made over the holiday period USD is back on support and looking to rally again from here
DXY: Dollar Index Update: First positive signal for days on DXYDXY: Doillar Index - double bottom at 96.8 - loss of downward momemtum - and trying to rally as per comment - all Dollar shorts should have been closed as per last comment by now...consider getting long $ for counter rally using DXY as guide and trigger.
USDGBP: Sell the next dollar rallyUSDGBP: The head and shoulders top signals further medium term weakness for the dollar down to 0.7452. Look to sell into next dollar rally.
Potential long entry in SupportAfter the second round of the 2017 Frenchelections profit taking put the EURUSD under pressure. Price is now resting in the support area and potentially form a double bottom
Observing the most recent downtrend line for a rally continuation
AUDUSD:USD collapse come MondayAUDUSD: the US Dollar looks like it's going to collapse on Monday with a strong Euro and GBP the drivers. But it will sweep AUD up in the tailwinds, creating a counter-rally and dragging it back up to .7473 (if you buy sell half here) and more likely up to .7515 (sell other half here) where it becomes a fabulous short once more.
XAUUSD: Gold Spot: near term rally within medium term downtrendGold has broken down and should hit 1201 next week. But in very near term it's staging a minor rally within what is now developing into a medium term downtrend. Levels to watch today. PLEASE check CRB index comment if you trade Gold. It will help you understand and stay on the right side of the bigger picture...
SILVER BULLI have been working on a strategy involving cycles, structure & price. I've had great results with currency pairs & Gold.. Except for when news is released and price manipulation, that's when things don't work..
This is what my strategy is indicating for Silver. I am still in the works of truly understanding if this is more than a theory, so don't bite me if I'm wrong.
Potential Silver bull from 17.20 til 21-22.00.
~Thank you for taking the time to view my chart~
I wish an abundance of prosperity & endless blessings for you all.
NZDUSD and a Confluence of SupportsOANDA:NZDUSD looks like its forming a nice floor where a lot of key technical levels and indicators are at.
4H Moving Averages:
OANDA:NZDUSD was able to get above key moving averages in the 4H timeframe and it has held well so far.
Weekly Higher Lows Trendline:
Even after some attempts of breaking the trendline it has held so far and looks like it was able to get back above it
The Daily 200MA should provide decent resistance but its also possible that it might still break through it to test the 0.73 level once more
Entry: 0.70237
Stop: 0.697
Profit: (tp1) 0.7137 (tp2) 0.73368
Any feedbacks are appreciated!
USD Ready to pop? Possible upcoming powerful rally $DXYHey traders, we may have seen the completion of bearish Wave-B last week which means this a potential powerful rally may be forthcoming in the next week or two. Alternatively, a bearish breakout would require a recount. My bias is to the upside despite the political uncertainty.
CYH- Fallen angel type Momentum Long from $9.83 to $12.13 & highCYH seems a very good long setup. It had a wonderful rally since we first found it around $5.
Now it seems bouncing above the moving averages & getting ready for the second phase of run.
* Trade Criteria *
Date First Found- February 28, 2017
Pattern/Why- Fallen angel; Momentum Long
Entry Target Criteria- break above $9.83
Exit Target Criteria- 1st Target $10.93, 2nd target $12.13 & higher
Stop Loss Criteria- N/A
Please check back for Trade updates. (Note: Trade update is little delayed here.)
MYGN - Flag formation Momentum long from $18 or higher MYGN is another nice Flag formation with beautiful moneyflow accumulation. Anything close to $18 would be a good entry point or break of current label
* Trade Criteria *
Date First Found- February 19, 2017
Pattern/Why- Flag formation
Entry Target Criteria- Near $18 or Break of $18.67
Exit Target Criteria- Momentum
Stop Loss Criteria- $16.83
Please check back for Trade updates. (Note: Trade update is little delayed here.)
Oil - Demandi have been looking for oil prices in the short term to bottom at the 45.6-46.1 level; This chart is meant to provide Target Prices for my 'Oil Channel - If It's Not Broke...' chart; please refer to that chart for more information on my overall view as this chart is intended only as a support chart for price targets.
I will buy/open long positions at 46.10 and expect that prices may drop down to the 45.6 level. I will take partial profits at each of the Target Prices shown on the chart and will then look for lower levels to re-add the partial long positions in an effort to stagger as prices rally again.
Please refer to the chart below for additional details:
Good trading all!
DXY ShortDouble Top & Dollar breakout, expecting a nice dive in the incoming days. Short 101.50 TP 99.00
$BTC testing highs and why USDCNH mattersBitcoin highly correlates with Dollar pair volatility these days, these are signs the market has matured a lot. Which makes sense since the CFTC considers it a commodity these days as more CFTC approved derivatives are on the way. US largest trading partner is China, any market correlation done on any asset if you ask me starts with capital flow from those areas, Europe is a close second which is why you're seeing great coordination between central banks in these economies.
I believe the breakout into ATH's on Bitcoin will go together with the continuation of the USD bull market. China is hugely Dollar hedged which is why PBoC will simply keep fixing CNY down to benefit off this.
GBPJPY Short Low volume today with US markets shut, GBPJPY retracing from steep downside continuation to the downside with JPY strengthening again against US Equity rally running out of steam.
