TrackRecordTrading

TrackRecordTrading

Shanghai Composite Index has broken into the weekly Ichimoku clouds and continue to trade well. With policymakers determined to channel credit to the right sector and promote growth, the bears are now in retreat. Time to look for opportunities to get long on any reasonable pullbacks!

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Looking to get short EURCAD. Rallies towards 1.51 should be good levels to be sold into.

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Looking to get long AUDUSD at some point despite recent weakness due to RBA dovishness. 0.7040-50 building up to be good support for future dips to be bought into.

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US Treasury 10Y yield looks set to break and close below the weekly ichimoku cloud soon. A benign inflation outlook and easing bond yields will be good for stocks going forward. New highs in US stock markets remain very much on the cards as the catalyst for the selloff last year was a hawkish Fed that was causing yields to go increasingly higher.

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S&P500 index breaks and closes above the weekly ichimoku cloud for the first time this year. As we have been saying since the start of 2019, new highs will be seen this year. Investors came into the year very under-invested and the longer the index stays positive on the year, the worse it gets for those who are not involved.

TrackRecordTrading Updated 

USD/CNH seems poised to test 6.35 levels. Positive developments from the trade talks should do it!

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Since the surprisingly dovish stance taken by the Federal Reserve at the Jan FOMC meeting, the Dollar Index (DXY) has been on the rise. Price action is especially encouraging against the EUR. If US rates are lower and growth prospects deemed discouraging by the market, what’s driving the USD strength? More importantly, is there any reason to not get involved?

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With widespread of fears of an impending recession and calls for a bear market coming into 2019, the market is generally under-invested. The Nasdaq has now pierced through the bottom of the weekly ichimoku cloud and a close above the cloud will likely lead to new highs this year.

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Strong reversal candle on the weekly chart and price is now firmly below the weekly cloud. Retracements towards the bottom of the cloud would be good opportunities to initiate shorts.

TrackRecordTrading

Strong candle on the weekly chart. Unless the lows are violated, dips should be bought going forward.

TrackRecordTrading

6200 will be strong support for Nasdaq going forward. Last week was a strong positive candle and could signal the short term bottom is in. Although many uncertainties remain on the fundamental front, 6200 will be a good level to be long against should the opportunity arise.

TrackRecordTrading

Sell EUR/USD at 1.1365, with S/L at 1.1454, and target at 1.1223, based on the daily candlesticks chart of topping out pattern two days ago and today's weakness on the hourly chart.

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Bought AUD/USD at .7240, with S/L at .7194, and target at .7348. Seems the short term weakness was short-lived, so getting back into the fray...

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The NASDAQ Composite Index has yet again failed to break below and managed to recover to close above the weekly ichimoku cloud. With the 90-day truce in the Trade War, it is now likely to trade higher into the end of the year.

TrackRecordTrading

With EUR/CAD twice failing to sustain closes above the daily Ichimoku clouds, the time to re-initiate short positions on this pair could be soon at hand!

TrackRecordTrading Updated 

AUD/USD attempting to establish itself above the daily Ichimoku cloud again. Will it succeed this time?

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The Hang Seng Stock Index (Hong Kong) is trading better recently. It is currently testing the daily ichimoku cloud, and will be a strong positive sign should it manage a close above the cloud. Is this just shortcovering ahead of the meeting between Trump and Xi at the G20 Summit or is it something more?

TrackRecordTrading

USD/JPY has broken into the daily Ichimoku cloud. Looking to sell rallies if opportunities should arise.