AUDNZD MACD divergence shortFX:AUDNZD A hidden divergence has formed on the MACD, coupled with overbought conditions on the stochastic. This makes me believe we will see a return back into the previous support level, to continue the trend.
Stochastic-overbought
USDCAD MACD divergence shortFX:USDCAD A long term divergence has formed on the MACD, coupled with overbought conditions on the stochastic. This makes me believe we will see a return back to the previous support level.
EURUSD short-coming up to 200 day ema resistance
-conservative tp as it may find support off the kneckline before retesting the 200 day ema again.
-overbought stochs
-bearish divergence
Preparation for EURCAD Short OpportunityNothing is definite yet, but I will be looking for signs of possible Euro weakness, on this chart, and on other Euro pairs.
This trade setup is similar to how I shorted GBPUSD towards the end of last week, using the Stochastic Oscillator and selling at resistance
I called this setup a symmetrical triangle but the resistance trendline was broken, mainly due to CAD weakness.
So, how I shorted GU was price reached resistance while the Stochastic was overbought.
It appears that the same exact setup will be forming on this EURCAD trade, as price reaches resistance at 1.3960 - by then the stochastic oscillator will be overbought.
Rather, the Stochastic is already overbought, but it is lagging, so it will range in the overbought area for a couple 4h candles while price consolidates.
Then I will wait for a relatively strong bearish confirmation candle and the Stochastic crossing under 80.
AAPL hitting possible resistanceIt appears that Apple might be coming up on some strong resistance soon.
possible completion of an AB=CD pattern is almost complete as well as the .618 retracement taken from the Nov 4 2015 high and the may 12 2016 low
additionally my stochastic indicator is reaching the overbought condition.
will look to go short @110.55
all comments welcome
Thanks for viewing
Bud
SB Sugar turning neutral in light of bearish engulfingTurning neutral and watching closely. I think good entry for e retracement IMHO
- RSI & Stochastik with bearish indications and market is very overbought.
- bearish engulfing and hanging man (confirmed with bearish engulfing)
- spreads have been weak the last three days already indicating a trend change
I am neutral with a bearish bias, but need more confirmation IMHO
