Timonrosso

Timonrosso

In the short term - like today! 8:30 EST 13 Oct 2022 If the CPI (measures inflation) comes out at above 8.2% this could lead to a market crash as the Fed would likely raise interest rates by another 100 bps on 2 November to curb inflation. If the CPI comes out below 8.2 this could spark a market rally as they will believe inflation is starting to cool down. In...

Timonrosso

Down channel to continue. Momentum is strong Target - 0.95000

Timonrosso

CHALLENGE TRADE IDEA: TAKE PROFIT: R161.91 REASON: Bearish Symmetrical Triangle, Price has tested the resistance and has failed. With inflation coming out today, my cards are on higher inflation which will lead to higher interest rates and a fall in banks and other markets. What are your thoughts?

Timonrosso

Been forming a Falling Pennant in the last month... This is a small triangular formation less than 3 months (hence it's a Pennant rather than a Wedge). Once price breaks above, we can have a strong buy signal to hold until the first target. Also the RSI is making higher lows and is currently above the 50 mark (bullish). CONCERNS: We just need to wait for the breakout...

Timonrosso

Strong down channel is dominating the GBP/USD, bringing the pound lower. We are also seeing lower RSI highs which is confirming the bearish momentum. My first target is to 1.0519. Notice, I don't expect the price to reach recent lows. and the reason is because, it just might be the solid support needed for the pound to bounce up from here. First a tick up, then...

Timonrosso

EUR/ZAR is showing classic textbook analysis of a Cup and Handle. It's broken out of the brim level and is showing strong demand (buying) to come. The first target is to around R18.23. CONCERNS: There is a rising channel which the diagonal line is a strong support. If the price breaks up and out of this channel, we can expect major downside to come for the rand....

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CADCHF is clearly in a down trend with a bear channel. We can expect a bit of upside where price could breakout of an Ascending Triangle. Then it will test the top of the channel at 0.7344 before it comes down to the next target around 0.7068. Concerns: The 7MA looks like it wants to cross above 21MA - Bullish. However, price is still below the 200MA so I'm...

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Inv C and H Major downside Current down channel Target $101.55

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AUDNZD Bearish by nature It's broken below the Brim Level and is showing downside to come. Concerns: AUD/NZD has been on an uptrend and it always makes it a Medium Probability trade when the trend turns down in the short term. But nevertheless it's tradeable.

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Diamond formation Higher probability for upside Target R120.00 Concerns: If price breaks below the Diamond, it will crash hard to R76. But right now the signs are pointing up.

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Alphabet bearish pattern Inv C and H Target $64.64

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M Formation on daily. This is to follow from the massive Inv C and H created in 2 years. But the smaller M pattern, is showing downside to $47.00.

Timonrosso

EUR/NZD is still showing strong upside tomcome with a falling flag. Now that price has broken above, the next target is around 1.7920. I locked profits with this trade, but I'd consider another entry around these levels.

Timonrosso

Ascending Triangle formed on the USD/JPY High probability trade with a confirmed breakout and with the previous trend up. Target 149.22 YEN

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Quadruple Top. Broken below Testing the resistance of the downtrend. If the price continues down from here, we could see the price level drop to $1,364. Concerns: Gold stocks have been recovering over the last few days, and this could help push the price of gold up. Smart Money normally tries to avoid major sells if it's not in their best interest. I would...

Timonrosso

Brent is in a predominant falling wedge channel. As I have mentioned this week, channels are always stronger than breakout patterns. So we need the price to break below or above a certain level, before the price stops meandering... The first target is to the top of the channel at $97 then down to $88 (channel). If the price breaks below the channel then we...

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Right now the channel is pre-dominant. We can expect it to move up to 12,235 before comes back down to 9,000. Bearish Concerns, if for some reason things start showing glimmer of hope, it could be forming a W Formation which the price can break up and will send the price to near highs for the year. But right now, with the channel in play, bearish is more dominant.

Timonrosso

Cup and Handle on BP Plc Breakout confirmed. Target £563.00 Also the RSI has broken out of the down momentum and picking up. Only concern is the left part of the cup is not touching the brim entirely. Still going long.