S&P 500 @ critical cross roadAbove is the S&P500 weekly chart from 2007 highs to today.
The last week of April 2016 will be interesting to watch.
Big support @ 1572 in May 2016 maybe in the cards.
Grab the popcorn guys, interesting times indeed..
500
Bitcoin Bear and Bull Fractals at Crossroads AgainBears:
Bitcoin is showing weakness with a double top at $475-500 and H&S formation as well. A move below $400 on Bitfinex will confirm the bears taking over and a potential revisit of $340-350 and even $315.
Bulls:
If we manage to hold above $400 then we will stay in 2 weeks of sideways and consolidation and break out after January 15th towards new highs of $650-680
Note: Any bad news e.g. BitcoinXT Fork etc. can wick down Bitcoin to $275 then shoot it back up.
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Too high to be true.This is getting unsustainable, I don't see it going anywhere but down over the next 3 months.
Could this be the bagholder's last ride after the end of QE?
Just when they thought that the end of QE isn't going to affect stocks at all, it'll hit them even harder by surprise.
I'm adding more short position here as we move on...
EURAUD 240min - WAITING FOR DIRECTIONEURAUD currently @1.4417 - not doing much yet. Currently inside a big wedge in the 240 min chart and waiting for direction out of it.
But if you look at the EURAUD 60-min chart, we are inside an ascending wedge with a potential 30-35 pips once we break out of it and continuation to the top 1.4460-80 levels.
Both potential trades would be as follow:
LONG ENTRY @1.4430 STOP 1.4390 TARGET 1.4468-80
SHORT ENTRY @1.4380 STOP 1.4410 TARGET 1.4330-26
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IMPORTANT DISCLAIMER:
These comments are for information purposes only. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors. Do not trade without proper research on the asset. This is an opinion ONLY – and not a trade call, but this analysis may lead you to a trade. The information contained on this document does not constitute a solicitation to buy or sell an asset by FOREXTRADINGZONES.COM.
DO NOT TRADE WITHOUT STOPS
AUDNZD Head & Shoulder 240-min - SHORT SETUPAUDNZD currently @1.0789 giving us a head & shoulder pattern right at the top of our Channel for a potential square up of the move from last week.
Let's wait to see if they will violate the H&S by going higher, If not take the short below the neckline @1.0770 - or even before the break at the current level of 1.0790
ENTRY: SHORT @1.0770 STOP 1.0800 TARGET 1.0730-20
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IMPORTANT DISCLAIMER:
These comments are for information purposes only. Opinions, market data, and recommendations are subject to change at any time. Forex trading involves substantial risk of loss and is not suitable for all investors. Do not trade without proper research on the asset. This is an opinion ONLY – and not a trade call, but this analysis may lead you to a trade. The information contained on this document does not constitute a solicitation to buy or sell an asset by FOREXTRADINGZONES.COM.
DO NOT TRADE WITHOUT STOPS
