EURUSD: Pending Short

EURUSD: Pending Short


EURUSD             has been churning for 2 months. The triangle consolidation will break. My bet (I’m short) is that it will beak down.

I’m not expecting a clean break, as we are nestling above 2015-2016 resistance-turned-support and the weekly 200MA. This might produce a choppy environment. However, once these supports give way, I would expect a swift move to the lower 1.03-1.07 area.

I’m short and have been playing the range for the last 2 months for pocket money. Payday in EURUSD             soon.

Only a move above 2018 high would shift me neutral at this point.

Dow Jones: WARNING PART II

Dow Jones: WARNING PART II

US Wall St 30 OANDA:US30USD


In my previous post, I was short the DJIA             , with the expectation of adding at down trending resistance. I did add, but was quickly stopped out.

Now price has broken ABOVE the resistance line, and I’m forced into a neutral position. This means I have no conviction either way, and any trades I take will be 1/3 of my full size.

I do not want to be one of these traders who perpetually tries to short US equities – which is exactly what has fueled the most hated rally in history. Yet, I maintain that this could be a FALSE BREAKOUT, and that significant downside remains a possibility. For that to happen, price would need to quickly reverse, fall back under the top side of the multi-month triangle, and stay below there.

Another possibility is that we see a choppy consolidation at these levels over the next few months, before simply rocketing higher. For the bullish case to be confirmed, I would still need to see a closing above the 25800 level to indicate strength.

For now I’m neutral, with a slight bearish leaning. My bearishness is colored by the action in S&P             and the Nasdaq – updates coming soon.

I will take a small short position on a Monday rally, with a stop above last week’s high. If price moves higher next week, I will wait for a clear pattern to emerge before acting.

A trading opportunity to buy in AEETH

A trading opportunity to buy in AEETH

Aeternity / Ethereum BINANCE:AEETH


Technical analysis:
. AETERNITY/ETHEREUM is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 49.

Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.00402 to 0.00356). if so, traders can set orders based on Price Action and expect to reach short-term targets.

Beginning of entry zone (0.00402)
Ending of entry zone (0.00356)

Entry signal:
Signal to enter the market occurs when the price comes to “Buy zone” then forms one of the reversal patterns, whether “Bullish Engulfing”, “Hammer” or “Valley” in other words,
NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone.
To learn more about “Entry signal” and the special version of our “Price Action” strategy FOLLOW our lessons:

Take Profits:
TP1= @ 0.00460
TP2= @ 0.00481
TP3= @ 0.00516
TP4= @ 0.00615
TP5= @ 0.00738
TP6= @ 0.00868
TP7= Free

GOLD: LONG – Trendline break + retest. 1222 Pysc support holding

GOLD: LONG – Trendline break + retest. 1222 Pysc support holding

GOLD (US$/OZ) TVC:GOLD


TECHNICALS:

1.
– Price was respecting a short-term descending trend-line
– During consolidation phase price broke out sideways from trend-line
– Price then retested the trend-line on Friday
– Possible precursor to bullish move

2.
– 1222 Psychological level has acted as strong support as of recent
– The retest of the descending trend-line coincided with the 1222 support
– Price attempted to break lower through this level, however snapped back to close
the day on Friday resting upon it

3.
– On the 1hr timeframe a clear H + S bullish reversal pattern can be seen during the retest of the trend-line
– The shoulders lay perfectly on the 1222 Pysc support
– The head of the pattern tried to break below this level however failed and snapped back

FUNDAMENTALS:

– Iran/US tensions yet another geopolitical tension to add to the list that may prove bearish for USD
– If China/US trade tariffs calm down then this may provide a relief rally for gold             as this has been subduing it for some time now

Appreciate any thoughts/comments,

Thanks for reading,

James

A trading opportunity to buy in SCETH

A trading opportunity to buy in SCETH

Siacoin / Ethereum BITTREX:SCETH


Technical analysis:
. SiaCoin/Ethereum is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 42.
. While the price downtrend in the Daily chart is not broken, bearish wave in price would continue.

Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.0000220to 0.0000207). if so, traders can set orders based on Price Action and expect to reach short-term targets.

Beginning of entry zone (0.0000220)
Ending of entry zone (0.0000207)

Entry signal:
Signal to enter the market occurs when the price comes to “Buy zone” then forms one of the reversal patterns, whether “Bullish Engulfing”, “Hammer” or “Valley” in other words,
NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone.
To learn more about “Entry signal” and the special version of our “Price Action” strategy FOLLOW our lessons:

Take Profits:
TP1= @ 0.0000245
TP2= @ 0.0000271
TP3= @ 0.0000298
TP4= @ 0.0000327
TP5= @ 0.0000350
TP6= @ 0.0000391
TP7= @ 0.0000433
TP8= @ 0.0000492
TP9= @ 0.0000567
TP10= Free