BTCUSD DAILYMaking its 3rd touch to the ascending trendline, rejecting off the 200 ema. A daily closure is preferred first before entering if price closes above the trendline or not. If the trendline breaks the next level of interest is around 6K
Break
USDJPY 4HPrice broke its triangle pattern to the upside, now testing channel resistance. Price broke above its supply zone 109.400, lets see if price can break to the upside from here!
GBPJPY 2HPrice rejecting weekly resistance, however I will be watching for a break & close above or a break of the trendline for a pullback ...
GBPCHF DAILYStrong bearish engulfing breakout of prices uptrend line, now retesting with what looks to be a potential shooting star rejection. Not looking to jump into this pair this week exactly since the market closes tomorrow, but will be looking for a break of support & retest for more confirmation
AUDNZD 2Hafter a 200 pip decline, price is now back at daily support. From here its possible price can see a bounce back to the upside. Will be watching for a daily closure
SPX: Flashing cautionary signals (again).My cautious call of 2 weeks ago may have been premature (see link below).
However, we are now seeing additional cautionary signals on the SPX :
1. Two consecutive down days at the beginning of this week;
2. Visible break yesterday on the index (gap down);
3. Reasonable volume on the downside;
4. Traded and closed below SMA10;
5. Tech indicators turning (MACD, RSI, Stock);
6. RSI coming from very overbought levels >85;
7. Treasury yields picking up;
8. Some divergence/topping signs from tech market leaders;
9. High-volume surge in the VIX (please see chart below);
10. VIX broke/closed above two resistance levels in a day.
Current earnings should bring further steam to this market, either for a highly-expected consolidation or for a rebound.
In this context, am warming up to buying downside exposure in one -or multiple- of the following ways:
1. Reducing portfolio risk by taking selective profits/losses;
2. Buying puts on selected stocks ahead of earnings;
3. Shorting the market outright (SPY, QQQ);
4. Buying volatility outright (VXX).
The rest of this week should be interesting and followed closely.
EURCHF 4HLooks like price made a double bottom to daily support, now watching for a break of the counter trendline as confirmation for potential longs..
AUDCHF 2HPrice making a double top at strong previous support now resistance. Watching for a break of the counter trendline to go short. Last time was above the pink zone, price made a double bottom then made a strong move away from this zone. Vise versa of what price is looking to do now..
CHFJPY 2HTarget this morning missed take profit by 17 pips, but as you can see price broke above resistance now looking to potentially enter on the retest of broken resistance now support.
Eurjpy 2hManaged to grab 160 pips roughly on this pair this week, now watching for a break of the top of consolidation for a potential 200 pip move to create a new high. Will be watching for a break & retest. A daily closure above 136 will be great confirmation as well
AUDUSD fallingI see AUDUSD falling from the sky.
Lets keep an eye out for this one.
As usual very tight stop loss not risking more than 2% with a 30 pip stop loss
AUDUSD 2HFOMC meeting for the dollar shortly, watching for a break to enter price is showing pressure to weekly resistance
USDJPY Another triangle pattern to watch for a break either direction. Im leaning more towards an upside break due to price sitting on a strong support. But ill have to wait & see
EURJPY 2HBreak back above previous resistance now support again. Long up to weekly resistance 136.000
Cardano analysis: 30% profit target.Very strong support zone, doubt it'll crash through. Strong resistance at 5900. However this was tested several times now, so I expect it to break this time.
I'm setting the target at the resistance after the 5900 resistance.
Remember to set your stoplosses when you enter: markets can sometimes be irrational.
If I made you money, please consider buying me a beer to make my day:
LTC: LfbKuDHZaDTRUV9pXJuWCUcG14XLrGtBcs
ADA: DdzFFzCqrhsfoyxqADKYK7mMAMpoMUqjuNeN39aJZx6v2ZHnBxuC79p8QJWJ713mAmRHxF9hS87YKMkD4JLF1rdxLU7ugzRtViBETfWa
Feel free to ask me questions or to ask me to perform my analysis on a coin of your choice.
Happy trading!
US OILBreakout, now a retest to the 61.8 is a good entry to ride the deeper pullback that oil is looking to make
