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USDJPY Up 9% After Breaking Out!With the US Dollar now on the move, some forex pairs are forming trends and one of them is the USDJPY, which recently broke out from long-term consolidation. Price started to consolidate in June 2015 and broke above resistance in April 2022. There was a nice move up, and then a pullback, then price continued to move back to the upside. Since breaking out, price has moved up 9%. This forex pair has trended really well in the past and is likely to do the same going forward now that we have a breakout. The current trend appears linear and clean, and if we continue to see a pattern of higher highs and higher lows with small pullbacks, that will confirm a linear trend is in play. If today’s bar closes with a break and close above the previous high, it will confirm a trend continuation. If you like enjoyed this post, make sure to like, and follow for more quality content! If you have any questions or comments, comment below. We reply to every comment! See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
Long
by Sublime_Trading
US Dollar Up 3%The US Dollar has moved up 3% so far this month and entering price levels we haven’t seen since 2002 and still climbing. Price was previously in an area of consolidation, which ran from 2017. With a breakout from a long period of consolidation, we can expect a strong move in the direction of the breakout. The 3% move to the upside this month equates to $3 and price may continue to climb and if it does then forex pairs that the US Dollar influences are likely to move as well. The next level of resistance in the way is at $121, which is the high of July 2001. A move to this level would create a trend large enough to allow us as trend-followers to compound and profit heavily from such a move. If you like enjoyed this post, make sure to like, and follow for more quality content! If you have any questions or comments, comment below. We reply to every comment! See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
ICEUS:DX1!Long
by Sublime_Trading
1
US Oil Battles With 2011 HighThe price of US Oil has not consistently traded above the May 2011 high at $114.79 since the high was formed as price has not remained above this level. Price did move above this resistance in March, May, and June, but the sellers forced price back down again. We have a major support level below price in the form of the $100 round number, which may prevent price from declining further. So far this month, the candle is bullish, but this could change as we are only a few days into the month. If the buyers can gather enough momentum, we should see another attempt above resistance. There is nothing to do now except wait for a clear trend direction to form. Trying to go long now could see your position close out for a loss if price reverses sharply at resistance again. If you like enjoyed this post, make sure to like, and follow for more quality content! If you have any questions or comments, comment below. We reply to every comment! See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:USOIL
by Sublime_Trading
Bitcoin Breaks Major Support From 2017It is still early in the month, and the week has only just started, but Bitcoin is now trading below a major support level which has now turned resistance. Last month, price bounced off the December 2017 high support level at $19,666. The sellers have taken control so far this month but will price close above this level by the end of the month. Bitcoin has been displaying signs of weakness since November 2021, so we are now waiting for a strong support level to prevent price from declining further. Once we see a change in this market’s behaviour, we will look for opportunities to go long. The early signs of a bullish reversal is a pattern of higher highs and higher lows on the daily timeframe. The next sign is price breaking above multiple resistance levels. Patience until then. If you like enjoyed this post, make sure to like, and follow for more quality content! If you have any questions or comments, comment below. We reply to every comment! See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
BITSTAMP:BTCUSD
by Sublime_Trading
Will Bitcoin Go Higher Or Lower?Bitcoin has declined further since the last post, dropping down through the weekly 200 simple moving average which is now resistance. Price also declined below the $20,000 round number but has since moved back above this level and is slowly creeping back towards the moving average. This current move up does resemble a pullback, and if it is then we will likely see a continuation to the downside. Historically, a trend has usually followed a bounce off the weekly 200 simple moving average so we will have to see if history is set to repeat itself. There is nothing much to do with Bitcoin right now and the best position to hold is standing aside until we start to see signs of bullish moves to long, or bearish moves to go short. If you like enjoyed this post, make sure to like, and follow for more quality content! If you have any questions or comments, comment below. We reply to every comment! See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
BITSTAMP:BTCUSD
by Sublime_Trading
S&P To Break $4000?The S&P 500 has moved further away from last year’s low support level at $3662 which is proving to be a strong level to break. There is now a long wick below June’s candle after price bounced hard off that level, but will it be the start of the resumption of the bull trend. May’s candle closed as an indecision candle with a long wick but price still exceeded the low of May. A long wick does not guarantee a trend resumption but a pattern of higher highs and higher lows on the daily timeframe suggests a possible trend resumption. Price still remains below the $4000 round number so we have a monthly close above this level which will further suggest price may continue to move to the upside. As for now, the overall trend is bullish so we just need to wait patiently for signs of a continuation on the lower timeframe as mentioned. If you like enjoyed this post, make sure to like, and follow for more quality content! If you have any questions or comments, comment below. We reply to every comment! See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:SPX
by Sublime_Trading
Bitcoin At The Next Major Support LevelBitcoin has now declined 71% from the high of November 2021, almost reaching $70,000 before moving south. Last year’s low at $27,734 was held as support in May this year, but June’s candle has so far penetrated this level. We could see a push up before the end of the month and a close above this level, but for now price is trading below it. Another major level of support is holding price up, and this level is from the high of December 2017 at $19,666. This level held as resistance up until December 2020 during that consolidation period. It has now turned from resistance to support. This level is also around the $20,000 round number, a psychological level of support. This reinforces this support level as being significant, but of course, we have to wait and see what price chooses to do next, so patience for now. If you like enjoyed this post, make sure to like, and follow for more quality content! If you have any questions or comments, comment below. We reply to every comment! See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
BITSTAMP:BTCUSD
by Sublime_Trading
S&P Halts At Last Year's LowIs this the major support level that stops the S&P 500 from dropping further down? If it is, the bull trend will eventually resume, but if not, we will likely see a bear trend. Price is now at last year’s low at $3662, which is a strong level, but we will have to wait and see if it is strong enough to stop the 23% decline from increasing. Other previous significant levels of support have been broken, so we need to see a confirmation of a bullish trend continuation before jumping into long positions. The first thing we need to see on the daily timeframe is a pattern of higher highs and higher lows. Next, we need to see price break above resistance levels on the lower timeframes. Once our proprietary trend filter on the daily timeframe turns green, this will be our queue to start looking for long opportunities but only in the strongest trending stocks forming linear trends. Until then, we will continue to see how the market plays out. If you like enjoyed this post, make sure to like, and follow for more quality content! If you have any questions or comments, comment below. We reply to every comment! See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:SPX
by Sublime_Trading
S&P Having A Weak JuneThe S&P 500 was held at the $4,000 round number zonal area of support. We did witness a little strength to the upside, but the previous support from February 28th 2022, at $4114 turned to resistance and prevented price from climbing higher. Price hit this level of resistance and has since displayed weakness and an impulsive move to the downside unfolded. Thursday's move was bearish, and Friday opened with a gap down and closed with a big bearish candle. We will have to see how this week pans out, but we can expect to see the weakness continue, at least for the short term. There is plenty of uncertainty in the markets right now, and the best position to hold is standing aside. Opening positions only when there are clear trends in play is the simplest way to extract profits from the markets. If you like enjoyed this post, make sure to like, and follow for more quality content! If you have any questions or comments, comment below. We reply to every comment! See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:SPX
by Sublime_Trading
Bitcoin Breaks Multiple Support Levels!Bitcoin was held at a major support level for almost 18 months and appeared to bounce from this level to resume the long-term uptrend. Price dictates the next move and in this case, it decided a bounce would not take place for now. Instead, the major consolidation support at $28,800 was broken and so far this week, another level of support has been broken at $25,401 which is the low of May 2022. The markets will always surprise you, which is why it is best to stand aside until there is a clear move in either direction. Jumping into positions prematurely is purely guesswork. Based on the weekly timeframe, the next major level of support is the weekly 200 simple moving average which currently stands at $22,375. Standing aside is the best option for now as you want to preserve your capital for when the big moves begin, which could be the upside or the downside. If you like enjoyed this post, make sure to like, and follow for more quality content! If you have any questions or comments, comment below. We reply to every comment! See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
BITSTAMP:BTCUSD
by Sublime_Trading
GBPJPY On The Move!The previous post of the GBPY showed price holding at the support level of 156.60. This was the consolidation resistance turned support from the January 2018 high. Price formed a textbook pattern by breaking out of consolidation and retesting the consolidation zone, then bouncing off support. We are seeing an impulsive move to the upside, and should the move continue, the momentum could break price out above the next resistance level at 168.43. If there is a breakout, it confirms a continuation to the upside and may lead to a long-term bull trend lasting several months. This forex pair should be on your watchlist as an opportunity to go long may be just round the corner. If you like enjoyed this post, make sure to like, and follow for more quality content! If you have any questions or comments, comment below. We reply to every comment! See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
Long
by Sublime_Trading
Bitcoin Bounce!Last week, price made contact with a major level of support, formed from the low of January 22nd at $28,800. Price stayed at this level for a few weeks. It’s the start of a new week, and already seeing a bounce from the support level. As the weekly candle displayed is still new, we will have to wait until the end of the week to confirm a weekly bullish candle. A bounce from this level could be significant because it would suggest the resumption of the long-term bull trend. But of course, we still need a breakout of the all-time high at $69,000 to confirm this. We want to see a pattern of higher highs and higher lows on the daily timeframe and resistance levels broken prior to the all-time high. A build-up of strong momentum should see record highs created in the next trend. If you like enjoyed this post, make sure to like, and follow for more quality content! If you have any questions or comments, comment below. We reply to every comment! See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
BITSTAMP:BTCUSD
by Sublime_Trading
10
GBPJPY Ready To Burst Into Action!The forex market has been silent for many years now, so there haven’t been many opportunities to jump into trend-following positions. We have to remain patient during quiet times and keep an eye on the calm markets even when placing positions in more active markets. The GBPJPY is showing signs that watching the quiet market may pay off. Price is setting up for a potential long-term bullish opportunity. Price went into consolidation from the low in October 2016 at 124.78. It moved sideways for almost six years before finally breaking above the consolidation resistance level at 156.60. The breakout occurred in March 2022. Price continued up and then started to decline and came down to retest the consolidation resistance turned support in May. We then had a bounce off support and now price is looking strong and heading back to the upside. If a breakout occurs above the April high at 168.43 then we are likely to see a continuation to the upside. This could result in an uptrend lasting several weeks or months. Expect updates on this chart if we have a breakout. If you like enjoyed this post, make sure to like, and follow for more quality content! If you have any questions or comments, comment below. We reply to every comment! See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
Long
by Sublime_Trading
USDJPY Set For A Bullish Trend?The USDJPY went into a long period of consolidation from June 2015 to April 2022, almost seven years, and may be at the start of a potential long-term bullish trend. Before the recent sideways market, price formed a trend that lasted from October 2011 to June 2015, rising from 75.56 to 125.85. Now that price has broken out from the long-term consolidation zone, we need to ensure it is not a fake breakout. We do this by waiting for a retest and then a continuation in the direction of the breakout. Price appears to be doing just that. Following the breakout above 125.85, price moved higher and has since pulled back. We want to see price use 125.85 as support and then break above the recent high at 131.34. A break and close above that level on the daily timeframe confirms a trend continuation. We are then likely to see further moves to the upside. Remember that this can still be a fake breakout which is why we need confirmation first, so patience for now until we get that breakout. If you like enjoyed this post, make sure to like, and follow for more quality content! If you have any questions or comments, comment below. We reply to every comment! See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
Long
by Sublime_Trading
GBPUSD - Sideways For Six Years And CountingThe currency market has not offered consistent long-term opportunities for a number of years now, and looking at the chart of the GBPUSD, we can see why. Price went in a decline from July 2014 to October 2016, falling from 1.7191 to 1.1904. Since then, price has not moved away from the range consisting of a high at 1.4376 and a low at 1.1904. In March 2020, price did break the low support, but the following month returned inside the consolidation zone and continued to move sideways. In this type of market, there is not much we can do as trend-followers because we need price to be in a trend. This market is very difficult to trade but will be infested with many day traders and swing traders. The easy profits are made in a trend, but that requires patience. A strong trend is likely to unfold once price breaks out, which may be to the upside or the downside. This is because a strong trend usually follows a lengthy period of consolidation. We will have to keep monitoring the GBPUSD and be ready once a breakout occurs. If you like enjoyed this post, make sure to like, and follow for more quality content! If you have any questions or comments, comment below. We reply to every comment! See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
by Sublime_Trading
S&P Bounces At $4000The S&P 500 continued to decline last week. Past levels of support formed from previous lows, so we had to look at the next obvious level of support. In this case, it was not a previous high or low but a psychological level in the form of the $4000 round number. The weekly timeframe clearly displays a reversal candle that did not close below $4000, which is a good indication of it being a strong level of support. Price could still break this level, but for now, it is holding. What we want to see going forward is a bounce from support and a resumption of the bull trend. A pattern of higher highs and higher lows will indicate bullishness in the market. If you like enjoyed this post, make sure to like, and follow for more quality content! If you have any questions or comments, comment below. We reply to every comment! See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:SPX
by Sublime_Trading
4
US Dollar Breaks 5-Year High!In last week’s post, I highlighted that the US Dollar was being held at a major resistance level and was preventing price from climbing any higher. So far this week, price has broken through. Closing prices are more critical than intraday movement, so although price is above resistance, it does not mean it will stay above it at the end of the business day. This resistance has held strong for over five years, so it will take a lot of momentum from the buyers to keep price above resistance at $103. The resistance level is actually the high of a large area of consolidation, with the support low at $90. Following a breakout of the high, we need to see a pattern of higher highs to confirm that a trend is forming. This will reduce the likelihood of price returning into the consolidation zone. If you like enjoyed this post, make sure to like, and follow for more quality content! If you have any questions or comments, comment below. We reply to every comment! See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
ICEUS:DX1!Long
by Sublime_Trading
Support Still Holding The S&PThe S&P 500 was held at support last week with price unable to break and close below it. The support is from the low of February 24th 2022 at $4114. Because the level has not been broken for over two months, it is proving to be a strong level. This, however, does not mean that it can not be broken, the likelihood is just slim, but with the markets, anything can happen. We expect to see a bounce from support and a move back to the upside, above the 200 simple moving average and then the all-time high at $4818. If this occurs, then we should see a bull trend back in play. If the support level is broken and price forms a pattern of lower lows and lower highs below it, we may see a bear trend forming. In the meantime, we will have to see how this week plays out. If you like enjoyed this post, make sure to like, and follow for more quality content! If you have any questions or comments, comment below. We reply to every comment! See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:SPX
by Sublime_Trading
US Dollar Could Go Higher!Since June 2021, price has been moving up strong, ploughing through the $100 major round number, which is a psychological level of support/resistance. April’s monthly candle closed bullish for the month and saw a move of 4.64% but was stopped in its tracks by a major level of resistance. The consolidation high at $103 is acting as resistance and this level was formed in January 2017. Price has been moving sideways ever since, between this high and the support at $88 from February 2018. This is a wide area of consolidation so price has been able to form trends in this zone, but a breakout could lead to an even bigger trend forming over a longer period of time. Similar to the S&P 500, price is very close to breaking out. In this case, a pattern of higher highs and higher lows above the consolidation zone, would be our signal to look for entry opportunities. Patience for now as the buyers and sellers battle it out where the outcome will determine if we can go long or continue to stand aside. If you like enjoyed this post, make sure to like, and follow for more quality content! If you have any questions or comments, comment below. We reply to every comment! See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
ICEUS:DX1!
by Sublime_Trading
S&P 500 Downfall?The S&P 500 is very close to signalling the start of a potential bear trend in the market, something we have not seen since the 2007-2009 market crash. Yes, we have seen some bearish moves since, but not a long-term bear trend that has lasted for months/years. If this does come to fruition, it will be bad news for bullish investors who have held positions for years. But it will be good news for long-term trend followers who can adapt to market conditions and invest in the direction of current trends. Trend-followers are waiting for the opportune time to place short positions, but that time is not yet, and patience will need to be applied. The reason for us needing to apply patience is because the market can go either way. Price, at the moment, is still inside an area of consolidation and has been since January 4th 2022. When price consolidates, it tends to bounce between the consolidation low support level and the consolidation high resistance level, at $4114 and $4818, respectively. Currently, price is approaching the support level and could just bounce from this level and continue moving sideways between the support and resistance levels mentioned above. But, if price breaks down below support, this will trigger us trend-followers to pay close attention and be ready for a potential long-term bearish opportunity. The first breakout of support is not what we are looking for, as this may turn out to be a fake breakout and catches out the majority of investors. A pattern of lower lows and lower highs below consolidation will give us the signal to look for shorting opportunities. Unless this happens, we will continue to stand aside as we are in an overall bull trend which could resume if the support level holds. We will have to just stay on the sidelines and watch and wait for the right moment. If you like enjoyed this post, make sure to like, and follow for more quality content! If you have any questions or comments, comment below. We reply to every comment! See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:SPX
by Sublime_Trading
2
US Dollar Above $100!The US Dollar continues to gain strength and has been in a consistent rise since June 2021, where we have seen price climb 13.06%. Note that price is still inside a long-term area of consolidation that has lasted since January 2017, between a high of 103.96 and a low of 88.15. As this is a wide area of consolidation, price has enough room to form a trend that is currently in play and moving strong, especially for this month. Price is now trading above the $100 round number and moving towards the consolidation resistance level at 88.15. If we have a breakout of the resistance level, we should see a big trend unfold because the larger the area of consolidation, the bigger the move in the direction of the breakout. Patience for now. If price breaks out, we will likely see other forex pairs form strong trends. If you like enjoyed this post, make sure to like, and follow for more quality content! If you have any questions or comments, comment below. We reply to every comment! See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
ICEUS:DX1!Long
by Sublime_Trading
GBPJPY Pullback Opportunity?The GBPJPY was making good progress last week, creating a high at 168.43, but as was expected, price began to pull back by the end of the week, The first obvious level of support was from the March 28th high at 164.65 and price closed for the week above this level. But so far this week, price has declined below this support level. This is when we have to look for other potential support levels which in this case is the 20 simple moving average. Price has now hit this indicator, but as it is still too early in the day, we will have to wait until the bar closes to determine if it may act as support. If we have a bounce from the 20sma, we should see the bullish trend resume and go on to create higher highs and higher lows. If you like enjoyed this post, make sure to like, and follow for more quality content! If you have any questions or comments, comment below. We reply to every comment! See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
Long
by Sublime_Trading
GBPJPY UP 140 Pips Since Last Post!In our last post for the GBPJPY, price was moving up towards the resistance level at 164.65 from the high of March 28th. It took just two trading days from that post for price to make contact with this level, but price appears to have slowed down. This tends to happen around support & resistance levels, and in this case, it is just a display of the buyers losing momentum. The buyers may be resting before the next move up. We could even experience a pullback before that happens, but the current trend is bullish, so as long we continue to see a pattern of higher highs and higher lows, then the bullish move should continue. If you like enjoyed this post, make sure to like, and follow for more quality content! If you have any questions or comments, comment below. We reply to every comment! See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
Long
by Sublime_Trading