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Rangebound

A range bound EUR/USD may rise back to its top Sitting in a range EUR/USD may rally back to the top of the range. If not, it may retest the level halfway and continue downward. Signs of bullish anticipation are shown by price finding support at the bottom of the range, a near resembling low test bar - but really a bullish reversal bar , and Stochastic and RSI bullish divergence . entry - above high of reversal bar stop loss - below low of reversal bar target - at around 1.1100 or 1.1450
Long
by amanpaulbhogal
1
SPY - Bullish or Bearish ??This is a WEEKLY chart of the SPY. All moving averages are also weekly. These are longer term signals I am pointing out. I want to focus on a few things on this chart. 1) The broken uptrend line 2) The new horizontal range 3) The last two weeks and a Monday 1 - The Broken Uptrend Line There is a green uptrend line that started back in Oct of 2014 and was broken in June of 2015. You will notice that the week of June 8 was the first week the SPY closed below the uptrend line. The closing price for the week was $210.01. What is the rule when an uptrend line is broken? It usually means there could be some downside to come. The longer a "stock" stays below the broken downtrend line, the higher the likelihood it will remain under the downtrend line and that lower prices are in its future. 2 - The New Horizontal Range The SPY has changed its complexion. It used to mimic a rock climber traversing a mountain. Now it resembles a person walking on a plateau. The question is what will come next? Will this person fall off the edge of the plateau or will the rock climber begin up another mountain. Believe me, I have tried everything to see farther to the right. To see what the next candles look like. "C'mon", I have yelled to my monitor, "Show me more!". But no luck. As I see it, the bottom of this new range is about $204.50ish and the top of the range is about $212ish. The bottom of the range has held pretty well but the top of the range is not so cut & dry. There have been a couple times where it looked like the SPY would break out of the channel to the upside. But very quickly is just sank back down into the channel again. The SPY is range bound. And it will be until the SPY breaks out of the range one way or the other. 3- The Last Two Weeks and a Monday Please take a look at the week of July 27 and August 3. I want you to notice that The week of August 3 is an inside week. Meaning the week of August 3rd has a higher low but also a lower high than the week of July 27. You should also notice that today (Monday 8/10) continues the pattern and is also an "inside week". Why is inside week in quotations? Because Monday alone does not make a week. We shouldn't really talk about another inside week when only Monday has passed. Now if Friday comes along and this week has a higher low but a lower high than last week we can lose the quotes and just call this week another inside week. But we will have to wait a few more days for that. So what is the significance of an Inside Candle anyway? The rule goes like this. If the candle after the inside candle gets higher than the inside candle, then we could see higher prices. If the candle after the inside candle gets lower than the inside candle, then we could see lower prices. So the chart may be telling us (this week) what is coming next... The high of the week of August 3 is $211.31 and the low is $206.87. Keep those two numbers handy and remember, above $211.31 may point to higher prices while below $206.87 may point to lower prices. There are many other things to consider along the way and many reasons why this rule may not be telling you what it seems. No rule of investing is 100%. But the Inside Candle rule happens often and has a pretty good track record. I will be keeping an eye on this weekly chart even though I typically trade based on daily charts. I hope you too will remember to look at the longer term picture of a stock that you are trading or investing in. For me, it is nice to step back and look at the longer term trends. One more thing. The answer to the question in the title of this idea... I just don't know :{ It could go either way. The candle after the inside candle is a hint. You will have to take it from there. Trade What You See... Not What You Think, Or Feel, Or Hope, Or ... The Trend Id Your Friend Until It's Not Limit Risk & Protect Your Profits
AMEX:SPY
by TheTrendLineInvestor
FX CHART OF THE DAY: USDNOK RANGEBOUND TRADINGUSDNOK has been trading laterally for some time now and no sits right on its weekly (120-h) mean. Volatility (measured by 3.2 st deviations) is compressing and there is no apparent slope of the mean. As there are no significant news (calendar events) coming out on the USDNOK today. traders can pick trades both ways, betting that the price will keep reverting to the mean from its 1st standard deviation Each new approach to the border of the lateral range is a risk of breakout/breakdown, so traders should not forget putting their stops close to relevant peaks/lows.
by Killy_Mel
EURO LIKELY TO TRADE RANGEBOUND WITH OILEURUSD is likely to continue its highly volatile lateral movement around is quarterly (66-day) moving average, within the approximate range of 1st standard deviations from the mean (their current span is 1.075-1.1340) The price also is likely to hold within relevant highs and lows (that is to trade between 1.0450-1.1470). Key reason for this is that EURUSD has become increasingly correlated to oil prices since the start of their decline back in the summer of 2014. Oil is very likely to move laterally for extended period of time from now on (see related idea), taking EURUSD with it on a sideways price action trip. And the correlation is not accidental. The plunge in oil prices last year has initiated a broad advance in US dollar value against all key currencies (such as EUR, JPY and GBP), making it attractive to hold institutional funds in US dollars or dollar denominated assets. Another factor supporting lower EUR (that is, holding it back from recovering its value) is the difference in monetary policies between USA and EMU. The Federal Reserve is increasingly talking about probability to raise interest rates within mid-term perspective, while ECB holds interest rates close and below zero and started its own quantitative easing program only last summer. On the other hand, however, further significant decline in EUR (below the lows reached during recent months) also looks unlikely. Thing is, even stronger US dollar means even more pain to already suffering US exporters (their goods becoming less competitive on global markets in terms of prices) - a situation which US corporate lobby, Government and the Federal Reserve would really like to avert.
by Killy_Mel
OIL LIKELY TO TRADE RANGEBOUNDWTI oil currently trades in the upper part of lateral quarterly (66-day) channel, that is above the quarterly mean (now at 56) and below the 1st standard deviation from that mean (now at 62). From the looks of it, WTI oil has a high chance of staying within current range (or at least close to it). Lets step back take a broader view of situation with oil markets. Late 2014 plunge in oil prices resembled the financial crisis of 2008-2009, when the price first fell right onto its 20-year moving average (then at 34 dollars) and then bounced back up relatively fast, when the overall situation on global markets normalized. Current situation in oil is different - the late 2014 fall was triggered by internal factors of oil market, such as supply/demand balance and competition among key oil producers. Additionally, there is no larger crisis on global markets at the moment. Thus oil prices now have more probability to trade range-bound for extended periods of time (close to the 20-year moving average, now at 54.3), until the situation on global oil market is sorted out.
NYMEX:CL1!
by Killy_Mel
USD/CAD BREAKS DAILY RANGE - POTENTIAL LOW RISK TRADEA DAILY CLOSE ABOVE RANGE RESISTANCE INDICATES POTENTIAL FURTHER UPSIDE, A CLEAR BREAKOUT OF LONG TERM RANGE EXPOSES 1.2520's THE 150 DAY MA THAT WAS PREVIOUS RESISTANCE ON 4H CHART HAS BEEN BROKEN, A POTENTIAL MA CROSSOVER TO THE UPSIDE CANNOT BE RULED OUT EITHER - ADDING TO FURTHER CONFIRMATION OF UPSIDE POTENTIAL A RETEST OF PREVIOUS RESISTANCE TURNED SUPPORT CANNOT BE RULED OUT, A HOLD OF THIS LEVEL WOULD BE SIGNIFICANT - LITTLE RESISTANCE LIES AHEAD OF THE DOLLAR AND FOLLOWS THE LONG TERM BULL TREND OF THE PAIR
Long
by JoeNeilCarey
Anticipatory layout with important trend lines, levels, timefibsWe might be cought in sideways within the red channel for another 20 days. I look at the Willy or MAGNUS™ indicator and compare it to a similar situation we had a couple months ago. The yellow box had some rangebound action in it with a little breakdown in the middle ( just like we had it now ). The question is what will happen after the yellow box? The red box like last time? Then we will definitelly see 280 again. Or if 320 holds (looks like some strong demand is sitting there), we'll see another pump like seen in the last green box ! Also check out the time fib analysis : 0.382 & 0.618 were important points in time, so 1 will probably be important too! Likely a major low/high in price. The target for a bullish move is the thick blue dashed line, which is this years top resistance trend line. You can expect sellers there.
BITSTAMP:BTCUSD
by MagnusTradingGroup
2