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USDJPY Weekly Trade AnalysisUSDJPY > 10/15-20/17 Trade Analysis Timeframe: 1W Shooting Star candle signals roll-over @ week's beginning. Break and Hold below 112.00 signals to 108.00 level. Expecting these levels to be Buyers area. Break and Hold above 112.00 can signal further rise to 115.00 level. High volatily expected as I believe we are in the "wacky" season where up is down and down is up! * Personal analysis only. Please use your own rules and strategies prior to entering market. ** Forex trading involves HIGH RISK. Before entering a trade, carefully consider your objectives, financial resources and level of experience.
by ALSM59
Oil Channel - If It's Not Broke...This is a my potential 8 week view of oil volatility. For a shorter term intra-week short entry, please see my 'Oil Supply - Continuous Chart', which provides a more detailed view of this charts short entry. I have been (im)patiently waiting for a breakdown in oil prices and to see a higher weekly low created prior to prices rallying again. I believe this low will happen at the bottom of the daily channel at the 45.75-46.08 level. I feel that the break down is imminent as the FOMC meets on March 15 , rate hike sentiment is increasing and am expecting a clearer validation/retrace of the 46 level. Volume was enormous on the 11/30 daily candle so I do not expect prices to drop below that daily low. On the upside, I've been looking for a 14 month cycle high to occur on the 4/17 week; so am looking for a top to occur between 4/17 and 4/24. This bottom and top would be in line with the 3/21 and 4/20 futures contract rollover dates. This seems like too large of a swing to realistically happen but looking at the past 16 months of swings it is clearly possible in this channel. I am currently short and am advising short entries for this trade at current price 53.2 - 53.51, targeting 45.75-46.08 to the downside and 56.5-57.5 on the upside. 57.49 was a weekly inflection created on the original Dec 2014 leg down and it may be tested. Short Entry (Currently Active): 53.2-53.51 TP1 (Long Entry): 45.75-46.08 TP2 (Short Entry: 56.5-57.5 Good Trading all!
NYMEX:CL1!Short
by smitheric1970
4
Oil - Higher Weekly Low support chart #4NOTE: this analysis is for the CLH7 (March) oil contract. Also, the path is hypothetical, targets/support/resistance are what matters. I believe that the 12/2 buying climax will hold as resistance. 1. Prices have been rejected at the daily BB midline and are below the daily 9 MA 2. TL of last two daily swing lows and the last daily selling climax are at approximately 51.66 level. 4. Daily bars showing declining peaks and troughs, indicating a potential reversal 5. I have found that .618 run ups are common in descending wedges; 1/12 high was approximately a 618 run up off of the 1/6 high 6. I am looking for a drop and potential bounce at the previous selling climax, 51.66 and .618 bounce to 53.2 level followed by breakdown of 51.66 and the overall distribution range; It is common in a keltner channel to see rejection at the midline prior to a break below, this would be in line with this hypothetical scenario; first target after breakdown = 50.00 Good trading all!
NYMEX:CLH2017Short
by smitheric1970
1