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Trendfollowing

Microsoft Trending Towards $300!Microsoft’s movement has been relatively predictable over the last few years, as you can see on the monthly timeframe. We have seen trends followed by consolidation/pullback, then trends again and so on. Currently, price is in the trend phase and there are also smaller areas of consolidation on the daily timeframe (not shown). The most recent consolidation period was from April this year and lasted up to last month, where price broke above the previous all-time high at $263. If price encounters another pullback, then the 50 simple moving average is below to catch price and act as support. The last time price made contact with this indicator was in March 2020. As price has remained a reasonable distance away from the 50 simple moving average, it highlights how good the trend currently is performing. Going forward, we want to see a more linear-looking trend develop, one with shallow pullbacks and smaller areas of consolidation. We now want to see price continue to trend towards the $300 round number as the bullish momentum builds up. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
NASDAQ:MSFTLong
by Sublime_Trading
Brent oil buyers remain hopeful inside five-week-old channelAlthough the weekly falling trend line probes Brent oil buyers of late, the commodity prices remain inside an ascending trend channel from May 27, not to forget staying beyond 100-SMA. The same joins an upbeat RSI line to keep buyers directed towards an immediate resistance line of $76.00. However, any further upside will be questioned by the stated channel’s upper line, close to $77.50. In a case where the oil bulls remain dominant past $77.50, the late October peak surrounding $78.00 may test the rally targeting the $80.00 psychological magnet. Meanwhile, pullback moves become less concerned until staying beyond the 100-SMA level of $74.10, needless to mention the channel support of $74.50. Also acting as a downside filter is the $74.00 mark, a break of which will make the quote vulnerable to decline towards the mid-June lows near $72.00. It’s worth noting that Thursday’s US ISM Manufacturing PMI and Friday’s US NFP, not to forget Thursday’s OPEC+ meeting, become the key events for energy traders.
TVC:UKOILLong
by MTradingGlobal
Palladium Ready For A Breakout?Palladium looks set to make another attempt at breaking out of the 16 month period of consolidation, which began in February 2020. A break above the consolidation high at $2875 was made in April this year, but that was short-lived as price returned back into the consolidation zone after being forced down by the $300 round number psychological resistance level. During the sideways market movement, price has still respected the 50 simple moving average, which has acted as support, helping price create higher lows. Last week we had a reversal just around the 50 simple moving average, which was shown in a recent post, and this week price is gaining momentum and heading towards resistance at $2875. If this level is broken then we still have the $3000 round number and the all-time high at $3017 in the way. The long-term movement has been bullish prior to the consolidation period, so the bias is for a break out to the upside. Should we finally have a breakout, then we should see a linear trend unfold as this commodity has trended really well in the past. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:PALLADIUMLong
by Sublime_Trading
S&P Bounces After PullbackThe S&P 500 ended last week with a big bearish candle. The Dow Jones 30 also closed bearish with a gap-down candle. Price action today was important to give us an idea where price may be heading next. If we continued to see bearish moves today, then that would have indicated the potential end of the trend. But Monday and Tuesday so far have seen a nice reversal with bullish moves. We now need to see bullish momentum through the rest of the week. The bounce came at the 50 simple moving average and price even closed above the 20 simple moving average. Price is not too far away from the all-time high, which lies at $4257, and we could see a breakout this week if the momentum continues. Following a breakout of the high, we want to see the trend go on to the end of the year. This will allow our portfolio to increase in profit and give us many opportunities to compound and maximise our profits further. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
SP:SPXLong
by Sublime_Trading
Palladium Bounces After Free FallFollowing the free fall we witnessed in Palladium last week, price has appeared to have found some form of support just above the 50 simple moving average. Price does tend to hit the 50 simple moving average, so if we see further declines, we may see price tag this indicator before seeing a continuation to the upside. In April this year, price had finally broken out of the 14 month-long period of consolidation but then struggled to remain above the consolidation resistance level at $2875. With price back inside the consolidation zone, we need to see another breakout but this time above the new all-time high at $3017. This would also mean a breakout above the $3000 round number. Overall, price is creating higher lows, but as price is still in the consolidation zone, its behaviour may be unpredictable, which is why we wait for breakouts to confirm trend continuations. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:PALLADIUM
by Sublime_Trading
1
GBPUSD kick-starts the key week on a bearish noteGBPUSD remains pressured around mid-April lows, down for the fifth consecutive day, amid early Monday. Although oversold RSI conditions recently probe the cable bears, a clear downside break of 100-day SMA and an ascending support line, now resistance, from January 18 favor the pair bears. Hence, a horizontal area comprising March-April lows surrounding 1.3670 remains on the traders’ radar before directing the sellers toward 61.8% Fibonacci retracement of December-June upside near 1.3560. It’s worth observing that the lows marked during mid-February and early March, close to 1.3775, can act as immediate support. Meanwhile, corrective pullback needs validation from the previous support line from early 2021 around 1.3855 to challenge the 100-day SMA level of 1.3940. During the quote’s run-up beyond 1.3940, the 1.4000-4010 area and multiple levels around 1.4085 can test the GBPUSD bulls. It should, however, be noted that the bullish impulse remains challenged until the quote refreshes the yearly high beyond 1.4248 on a daily closing basis.
Short
by MTradingGlobal
GBPUSD 💵💵💵😊💵💵💵🅶🅷🅾🆂🆃 _ 🆃🆁🅰🅳🅴🆁 _ 🆂🅰 Guys, I'm hoping everyone is doing well and printing a lot of pips 💵💵💵😊💵💵💵 during this bear move... This (wave(2)) invalidation level will point us to the right direction, but for now, please, make sure you validate this level before placing any trade. If BULLS proved to have completed the (1,2,3,4,5) pattern, then we may see BEARS be InControl all the way to (1.28258) , (1.24896) , (1.20736) or for worse scenario all the way to (1.18172) But if wave(2) invalidation level is never broken by these BEARS then we may see more Upward momentum as BULLS will have to take control to complete the pattern. Please, make sure you validate this pattern before placing any trades. I wish you all the best.... 💵💵💵😊💵💵💵
by Ghost_Trader_SA
GBPUSD 💵💵💵😊💵💵💵🅶🅷🅾🆂🆃 _ 🆃🆁🅰🅳🅴🆁 _ 🆂🅰 Guys, I'm hoping everyone is doing well and printing a lot of pips 💵💵💵😊💵💵💵 during this bear move... I have re-analyze the chart guys, It looks like wave(5) of wave(3) of wave (1,2,3,4,5) has completed , we were not expecting it to short cut itself this way but history repeat itself, So far it may prove to be valid. So for now, If these BEARS prove to be InControl , we may see cable correcting all the way to 1.34160 and for worse scenario till 1.31453 . Other scenario, we might be correcting for wave (2) of (1,2,3,4,5) of (5) of (3) .... If all this failed, then we are in a different pattern all together .. Please, make sure you validate the pattern before you place any trade... Will share the latest chart very soon.. I wish you all the best💵💵💵😊💵💵💵
by Ghost_Trader_SA
EURUSD bounce off key Fibo. but bears remain hopefulEURUSD fades bounce off 61.8% Fibonacci retracement of November 2020 to January 2021 upside amid fresh selling pressure witnessed ruing early Friday. However, oversold RSI conditions test the quote’s further selling below the key Fibo. level surrounding 1.1885. In a case where the bears dominate past 1.1885, the early March’s low near 1.1835 and the 1.1800 round figure could entertain them ahead of an upward sloping support line from September 2021 near 1.1740. Meanwhile, recovery moves need to cross the 200-DMA level of 1.1990, also the 1.2000 psychological magnet, to restore the upside momentum targeting the 1.2100 threshold. During the run-up, the mid-May low near 1.2050 can act as an intermediate halt. It should, however, be noted that the quote’s run-up beyond 1.2100 will battle the 1.2160 and the 1.2210 resistances before chasing the 1.2265-70 key hurdle to the north. Overall, EURUSD remains bearish following the clear downside break of the important moving average but short-term pullbacks can’t be ruled out.
Short
by MTradingGlobal
Palladium Down 9%Palladium is currently taking a dive, and something similar is happening with Gold and Silver right now. The news is likely fueling this and the decline could be short-lived. In April of this year, price had broken out and created a new record high at $3017, hitting the $3000 round number. This psychological level of resistance created an obstacle for price and forced price down. This week, we see a strong bearish move with the next level of support based on this timeframe being the 50 simple moving average. Price has used this indicator as support several times in this stock’s history, so this is the obvious level that price may gravitate towards. Palladium has been making good progress since the 47% decline during the 2020 global pandemic, and this is just another bump in the road that price will need to navigate around. Patience for now as we wait to see how far price will drop and what price will decide to do once it finds support. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:PALLADIUMLong
by Sublime_Trading
3
Nasdaq Making A Break!The Nasdaq 100 was leading the way and trending stronger than the other main two US indices, the S&P 500 and the Dow Jones 30, during the pandemic last year and looks to be leading the way once again. This week we saw price break above the previous all-time high at $14073 but price has since retreated back below this level. If the week closes above $14073 then we should see further moves to the upside. There is a battle going on right now between the buyers and the sellers this week, as we can see an indecision candle, but one will eventually come out on top. The weekly 50 simple moving average has been used as support in the past, the last contact was made in April 2020, so if we are due another pullback, then price may come down to this indicator to find support again. Nasdaq has been in a bull trend since 2009, but has been moving sideways since February this year. Once the momentum picks up again, we should see price clear resistance and continue the bull trend. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:NDQLong
by Sublime_Trading
Gold stays on the road to 200-DMA support ahead of FOMCGold struggles for a clear direction, after a three-day south-run, during early Wednesday. Even so, the yellow metal stays on the bears’ radar while keeping the downside break of a 2.5-month-old support line, now resistance, around $1,860 by the press time. Hence, sellers are directed towards 200-day SMA (DMA) level near $1,840 during further downside. However, any more weakness past $1,840 depends upon today’s US Federal Open Market Committee (FOMC) announcements. Among them, a direct hint of tapering and/or rate hikes could be considered detrimental to gold prices. On the contrary, a positive surprise from the Fed Chairman Jerome Powell & Company will help the quote portray a corrective pullback towards crossing the previous support line near $1,885. Though, gold bulls aren’t likely to be convinced until the quote stays below the yearly resistance line, around $1,908. In a case wherein gold prices offer a daily close beyond $1,908, a run-up to refresh yearly high near $1,960 can’t be ruled out.
OANDA:XAUUSDShort
by MTradingGlobal
AUDUSD stays directed towards 2.5-month-old support lineAlthough AUDUSD keeps Monday’s recovery moves around 0.7700, the pair bulls have a bumpy road ahead. That said, a 100-day SMA level of 0.7725 and a monthly falling trend line near 0.7760 probes the short-term recovery moves amid sluggish MACD. It should also be noted that an absence of directional signals from the RSI also challenges the pair’s corrective bounce inside a symmetrical triangle formation between 0.7760 and 0.7660. While the absence of bullish signals isn’t enough to back bears, the market’s anxiety ahead of tomorrow’s US Federal Reserve (Fed) meeting adds to the sellers’ favor. However, a clear downside below an ascending support line from April 01, near 0.7660, becomes necessary for the AUDUSD bears to retake controls. Following that, the monthly low near 0.7645 and the mid-April bottom surrounding 0.7585 should gain the market’s attention.
Short
by MTradingGlobal
Hands up anyone else on EURUSD longs? 🙋‍♂️🙌The USD weakeness is being picked up by out script. EURUSD long is now in full swing. Entry details are shown on the chart. We're only looking for TP3. Trade history can be seen below this trade idea too for full transparency. ------------------------------------------ I try and share as many ideas as I can as and when I have time. My trades are automated so I am not sat in front of a screen daily. Jumping on random trade ideas 'willy-nilly' on Trading View trying to find that one trade that you can retire from is not a sustainable way to trade. You might get lucky, but it will always end one way. ------------------------------------------ Please hit the 👍 LIKE button if you like my ideas🙏 Also follow my profile, then you will receive a notification whenever I post a trading idea - so you don't miss them. 🙌 No one likes missing out, do they? Also, see my 'related ideas' below to see more just like this. The stats for this pair are shown below too. Thank you. Darren
Long
by pow_removetheguesswork
1
S&P 500 - 9 Points Till Breakout!In the previous post on the S&P 500, price appeared to be moving fast towards the all-time high at $4238, but it has taken longer than expected to get there. The pullback has turned into consolidation but used the 20 simple moving average as support, which did help price move higher towards the end of last week. The monthly candle for May closed with an indecision candle, suggesting a potential reversal/pullback, but price is looking strong so far this month. The fact that rice pulled back last week and bounced off the 20sma gives us the confidence that the uptrend is likely to continue, but a break and close above the all-time high will confirm this. Friday’s candle closed with a solid bullish candle and price is now just 9 points away from breaking out. If the bullish momentum flows into next week, then we should get that breakout we are waiting for. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
SP:SPXLong
by Sublime_Trading