Currently viewing the tag: "technical analysis"
I have been recommending USD/CAD shorts at ForexLive for the past month based on the break of the wedge from September to mid-January.
The trade worked wonderfully at first, quickly falling from the 1.0150 entry point to below parity.Last Monday, Feb 20, the decline looked like the start of another leg down but the pair [...]
Every day we spin the wheel. Pick one of the PIIGS and pick one of the four following problems: banks, bonds, politics, ratings.
One day it’s Greece and politics, the next it’s Italy and bonds. The news is never positive; just bad or good enough to spark a short squeeze.
I’m generally a trend-following trader [...]
The news was bang on consensus. The EFSF, bank capital and the Greek haircut were all in line with what everyone was expecting yet markets have reacted as if hit by a bolt of lightening.
To some extent, I get it. I was evidently one among many who thought European leaders wouldn’t be able to [...]
A friend at Macrostory.com sent along a more detailed view of the comparison between the S&P500 charts from now and 2008.
the current move up is a 55.3% retrace in 14 days (May 2 high to most recent low) versus in 2008 a 57.4% retrace in 44 days
Our belief is that the two-day selloff in gold is the result of a harsh correction compounded by a leaked CME report. Gold is down $170 from Tuesday’s record high of $1912/oz.
We think this may provide another excellent buying opportunity for gold but in order for us to buy here we want to [...]
Cable broke out on Tuesday. In yesterday’s post, we noted that we thought the bias was to the upside, despite the resistance around 1.6475. When that level broke, the pair rallied more than 100 pips. We talked about buying at 1.6500 and perhaps some of you did, but we did not have a buy order [...]
We are awed by the trading possibilities of the GBP/USD daily chart at the moment. We see amazing opportunities to make money long or short depending how the market breaks.
GBP/USD Daily Since Jan
Cable hit the highest since May on Tuesday but it only exceeded the prior high by one pip before [...]
Technicals were the primary driver for a long AUD/CAD trade I entered Friday. I announced the trade on twitter via FX_Button.
Every Friday, shortly before the market close, I take a look at the weekly charts and see if anything jumps out. This turnaround, along with probably reversals in CHF crosses caught my attention. [...]
Entered AUD/USA short at 1.0735 on July 4. Exited July 18 at 1.0627. Result: +108 pips
Entered with stop at 1.0800 (65 pips). Greatest open loss: 54 pips Greatest open gain: 210 pips
I entered this trade ahead of the RBA decision on July 4. I expected a dovish statement and explained why in a [...]
Entered NZDJPY at 66.68 on 30 June. Exited July 29 at 66.92. Result: -26 pips
I entered this trade at the same time as my short NZD/JPY trade. I wanted to be short the carry trade at a time I thought stocks were overbought with many risks on the horizon. The stops were wide and [...]
Live EUR/USD Chart
