FMG
Short it to the fib levels! FMG shares AustraliaHi guys its bokchoininja here with another fibonacci analysis. In this analysis I highlight three critical zones of support and resistance predicted by good old fibonacci ratios. We had a nice kiss on the 1.618 level and are struggling to break past the current resistance zone. If we do break past we are headed upwards but the resistance box is where i have my buy orders. Check out my youtube for more info AweeboneshTV :D.
Loosing momentumUpside seems limited but 8.60 is current support.
Risk of iron ore prices and Vale coming on line remain.
But Ziggy has offered big dividend surprises recently and with low interest rates, dividends are king.
Continuing to take shorts. Looking for 7.60.
$FMG $6.06 per requestNot for me.
Has been under a buyback for sometime which messes things (volum) up ALOT... now for the shakeout
Depending on hope far they push it,it may become appealing but not at the moment. Well not for me
EUR/AUDHave had my eye on this trade during the weekly, long term I have a long bias and usually I would be looking for buying position. But certain moves in the market have suggested to me that the pair are likely to trade bearish for the next 1-3 weeks and so I will be looking for shorts in the short term to enter with and monitor from the daily chart. Will see how price plays out...
USDCAD POTENTIAL PRICE FORECAST As you can see from the chart USDCAD has been in a bullish environment for quite some time now and is playing out a very similar price movement over and over as price continues to make higher highs and higher lows with similar distance in pips, price is moving around 800 pips up followed by 600 pips down before price makes a new high if history is to repeat itself we could be looking at buying opportunities on USDCAD around the 1.3200 region with targets of 1.4.
I will be monitoring price to see what kind of reaction we get from the markets as price approaches this region.
Trendline, SNR and SNDHTF chart:
Unfortunately i shared this late but i am already in this trade find a reentry as price moves down...good set up.
Simple trade: SNR, SND, Trendline
BULLISH ON FORTESCUE : TARGET $5.46FMG has formed a Head and Shoulder bottom.
Price has broken a recent 6 day channel high.
ADX signalling a bullish trend is forming.
RSI at 65 and in an uptrend.
Stochastics signalling momentum.
FMG bleeding Fortescue has gapped down from the daily 150MA on the back of iron ore, may attempt to close the gap then sink again
