Going long this pair at 1.9230, stop at 1.9130, target profit of 2.0240. Long wick candles and a recent pattern of lower highs in formation leave me sufficiently bullish; the high reward/risk gets me interested in putting on a trade.
S&P 500 is at the bottom of a price channel. This does suggest a potentially low risk/high reward time to buy, though in light of other elements of price action, I'm actually bearish. Note the reversal candlestick pattern from last week (previous candle), and the inability to create a new high that it implies; when price reached that previous high, bears came...
Gold is getting positive confirmation here, bouncing off support at $1,280. I'm mainly interested in accumulating for the long-term, but short-term traders may be interested in having their stop at around $1,250 with a re-test of previous recent highs around $1,380.
I got long at 168.54, based on the price action at the daily chart. A double top is now clearly forming, and so I'm taking half off here. The stop on my existing order is at breakeven, so no risk is left on the table. I'm still very bullish on yen pairs, because of the disastrous fundamentals I see in the Japanese economy. So, my existing GBPJPY position is...
I'm speaking strictly in technical terms here because I find the pattern interesting -- this is not a comment on Bitcoin's merits or lack thereof. But with this type of pattern -- i.e. basically a descending triangle -- I like to wait until price breaks above the downward slowing trendline. In an ideal world, price remains above support at $397, but trades in a...
Short the US dollar. If Yellen continues tapering, I think EM currencies will continue raising rates to defend their economy, and the trend since the Turkey rate hike will continue. No taper, and I think USD will continue being sold to purchase US equities, bonds, and EM stocks. Most notably, the Renminbi continues appreciating, slowly but surely. I think this...