Sideways
XAUUSD Range-boundWaiting for US election results, as well as candlestick confirmation and ADX before entering buy or sell. Regardless of central bank buying, it's highly likely that the most this pair can go is up to 1,400 this year before going down again.
www.mining.com
www.businessinsider.com
1W:
1D:
XAGUSD Range-boundXAGUSD continues to go sideways and on the extreme (based on higher time frame analysis), can either go up near 20 or down near 16.
www.dailyfx.com
1W:
1D:
Lovely USDCADAlthough USDCAD has been correcting for the past while, I am short on this pair. Please wait for the breakout before placing any trades. No need to get stuck in a trade that may continue sideways.
More Before Less Central Bank Stimulus To Run Economies Hot 2017Central banks are (again) helping bulls by keeping the stimulus active until they see higher inflation - according to rumors and speculation of the last three days, ahead of the next ECB meeting this Thursday, October 20, 2016, where Mario Draghi might surprise the market to the upside again, after the reaction to the last meeting was a falling stock market.
This could mean that we might get a very boring low volatility sideways choppy trending market in the next months until maybe even the end of January 2017, as shown on the chart. If these trend lines hold, the next move would be up, therefore a long to at least 2150 is the next logical step in this calm market scenario, if the low of October 13, 2016 holds as key support, producing higher lows as result in the days ahead. The upper end of this projected move higher could end at resistance around 2169-2171, which is the 2. long target after 2150.
Long entry: 2125-2130
1. Target: 2150
2. Target: 2170
Stop Loss: 2120
1. Reward: 20 points
2. Reward: 40 points
Risk: 10 points (from 2130)
The news:
"Draghi Seen Embracing More Before Less 'QE' as Inflation Edges Up"
www.bloomberg.com
Seventy-eight percent of the 50 economists surveyed by Bloomberg from October. 7-14 forecast the ECB will announce fresh stimulus, and nine in ten of those say it will happen in December at the earliest.
There is a common perception that WSJ reporter Jon Hilsenrath, perhaps one of the most well-connected journalists at the Federal Reserve. Here is his last article for the Wall Street Journal:
"Yellen Cites Benefits to Running Economy Hot for Some Time" (by Jon Hilsenrath)
www.wsj.com
(here a link without a pay wall) www.morningstar.com
P.S The "S&P 500" close of Friday, October 14 shows a lot of bullish divergence on the mainstream indicators (RSI, Stochastic, CCI) and the "S&P 500" bounced back from outside the standard deviation as shown by the Bollinger Band. Therefore there is still some chance left for the bulls to turn this sinking ship around during this outlined potential sideways trend.
SPX500. Bullish butterfly pattern forming at 4H TFPossible bullish bitterfly is spotted on SPX500 but 4H candle close above 2160 level will invalidate the idea.
If confirmed, this pattern can test the bottom of the fork which is built from September´s high through this month´s peak levels.
Short entries are welcome from current values. I will add shorts on market opening as I´m already in a short position as per my previous idea. SL: 1270, TP: 2116
Longs:
Entry point: 2116
SL: 2100
TP1: 2140
TP2: 2155
EURUSD: AnalysisOn FX:EURUSD , the market moves sideways last few days. It found its support at 1.2305 and resistance at 1.1268. The red box shows that the market cannot decide who will get control of the price, Bears or Bulls. The best approach will be to wait breakout and then enter short/long, as people say follow the trend. Few fundamental news coming out today and it is expected that there will be breakout and strong move. Thus, keep an eye on this setup.
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EURAUD - Bullish Gartley+++ Don't forget to LIKE & Follow+++Price is in a sideways move - since price broke up previous PullBack.
This sideways move is presenting nice Deep Bullish Gartley on 1H, here on EURAUD.
Stops and Targets are conventional.
Entry @ 1.4709
Stop @ 1.4672
Initial Target 1 @ 1.4771
Initial Target 2 @ 1.4809
Good Luck!
-Alex
I'm a Professional Currency Trader & Mentor with years of trading experience.
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EUR/GBP ANALYSIS WEDGE PATTERNS, POTENTIAL TARGET POINTS.Wedge pattern broke, the continuation of the trend must carry on moving, I believe the trends movement would be slightly bullish as the euro is gaining strength. I have placed targets of where the trend may roughly go. The current potential bullish wedge may be giving the trends formation in where the type of movement would be directed.
Current point: 0.8663
Opening point: 0.8680
Target point: 0.87040
Exit point: 0.8587
EURCHF: Wide stop loss longWe can take a long here, fading this momentum run to the downside in a mostly quiet and sideways market.
Support is potentially strong against this level, so we can expect upside soon.
Check out my updated track record here: pastebin.com
If interested in my real time whatsapp alerts and swing trading newsletter, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.
Cheers!
Ivan Labrie
Link to Tim West's chatroom: www.tradingview.com
We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.
Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
GBPUSD - Bullish Cypher+++ Don't forget to LIKE & Follow+++I have my eyes on a potential Bullish Cypher Formation on 15M, GBPUSD.
On 15M market is breaking structures to upside and downside so it is not a surprise that we see advanced patterns in sideway moves.
Stops below X, targets are conventional.
Entry @ 1.3136
Stop @ 1.3101
Initial Target 1 @ 1.3166
Initial Target 2 @ 1.3185
Good Luck!
-Alex
I'm a Professional Currency Trader & Mentor with years of trading experience.
Download my Free Ebook & transform your trading Today! ow.ly
If you'd like to see more good trading ideas from me, click the "Like" button!
You can get my trading ideas immediately, just make sure to follow me.
Bitcoin at an Important Short Term Cross RoadUp until now Bitcoin was still consolidating in a wide range of $680-630 in the ascending triangle and did not rally as I expected after the halving day yet to retest $750-790 area. One thing you can learn from Bitcoin's behavior over the years is that it ALWAYS retests the previous high a second time. Also Bitcoin LOVES to bounce within triangles.
Currently we have a series of 1H 2H 4H and 1D Bollinger Band Squeeze on the Bitcoin chart which indicate that Bitcoin will strongly move in one direction. Both bear and bull directions are depicted on the chart. If you have not been trading Bitcoin for several weeks now well now is the time to watch for the big move that will unfold in the next few hours and buy/long or sell/short the breakout accordingly.
In case of a strong move down and increased volatility Bitcoin could still head to $560-570 to double bottom.
Other indicators and factors to consider:
$660 support has held strongly so far
The 1W RSI megabull trend is still holding strong
We have 2 ascending triangle as shown on the chart (kind of a failover just like we had at the 400s
The 1D and 1W momentum are still bullish showing that the longterm bulltrend is still intact
Google trends shows an expected interest calm which is usual after the strong interest surge of the last spike from $450 to $790: prntscr.com
Longterm: Bitcoin is still in a bull market and should reach $950-1000 USD by end of September and new highs close to December 2016- January 2017
I am here to help. Feel free to ask me questions or Private Message me directly.
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Also check out our new website in our profile (still work in progress!)
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USD/JPY - ShortThe current bias of the USD/JPY is undefined. Sidewards, consolidation for the previous week since the big move last Wednesday. The pair is currently in two channels; short term sidewards, defined by the black dashed line and longer term bearish channel (light blue). At the end of trading today, one of the two channels should be hit and act as a resistance.
Place your short orders when one of the two channels is touched, but obviously wait for confirmation.
(D) Treading range (10,P pivot). Chop till ema50 is less flat.Divergence from minor bullish channel. Follow your rules.
HO sideways or retracement lowerGood opportunity to sell some upside calls or call spread, above 1.60 strike for sideways or correction lower IMHO
Targets on downside middle BBands and lower trend line (orange).
(Time frame next 5-10 trading days)
(DE) Test ema50 support for 3rd time; bottoming process.If bullish, may retest resistance near R1 pivot. OBV has formed a local bottom and MACD and RSI confirm bullish price action. Ema50's slope is nearly flat and price has been lingering near it the previous 4 days.
However, if surprisingly bearish, then it may have a support retest near S2 pivot.
Stalk your entries and obey your rules.
(D) MACD and RSI rolling upwards. OBV resistance testSupport near 95 and ema50 but magnetized to its P pivot. If bullish momo continuation, a pop back into the mild bullish channel before testing resistance of R1 pivot or 100. Obey your rules.
