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trading dollar[/caption] Day Trading US Dollars to go Lower than 78.0? this move I was looking for since few month, I mention about US Dollar going to last bottoms at 78-76 area. Look like my "M" pattern will be completed sooner or later. What very interesting, as stock market start to correct, US dollar do not increase in value...this is very not good for US economy. https://www.youtube.com/watch?v=afvJtca7zGY
Apple Stock Price | Earning date 24th April 2014[/caption] This stock are going in a very small range now. And after to see Apple stock bouncing on 200MA daily, and buyers don't let sellers support apple stock price under 516.00$ it seems like buyers are quite confident on Apple stock earning date , witch it's the 24th April 2014. Click On video to watch more about! https://www.youtube.com/watch?v=7xveAoG4VQI
Silver has been in a very tight consolidated trading zone with a smaller range on the weekly charts. As price breaks below 19.50 we see there are no large buyers entering the market on the Silver futures contract. The volume on silver has also dropped off as institutional traders and large traders have decreased their holdings. Silver has been in distribution since mid 2011. The next level of support for Silver is 14.80 to 17.50, although this is a wide trading range we can see that the previous price action bounced from this area to start the run up in September 2010 that led to the parabolic move up in 2011. If silver does break through the resistance at $21.00 the next upside targets will be close to $25.00 . The chop (moving from support to resistance back and forth) has been exhausting for most traders as they are looking for the break out in this extremely tight range. Silver can be very volatile and since there is light volume be very careful as it is easy to shoot out stops. Never trade Silver unless you are using purely risk capital. Silver has many margin calls on positions that aren't monitored.
I took on my long position at 101.50 for a daily / weekly swing trade. If price moves to break the 104.50 area of resistance then we could be looking at oil moving back to test previous highs set a few months back at the 107 and even 110 areas. Stop is in at a break even position for the moment. I am watching price as we close the week and move into trading early next week. With a move up we could see the test of the 107 area, if resistance holds I will likely take out a good portion of the position or even all of it depending on price action. Trade what you see, I'll see you at the starting line!
Even though there is overall weakness in the stock market which normally has an inverse relation to the gold markets, we are seeing a bearish pattern in the technical charts. Gold buyers have been very weak in this move up. Although the US and world markets this week have mostly seen a correction. As you can see in this chart of NUGT which very sensitive and volatile compared to gold futures prices, we have created a bear flag. This means the market has sold from $60 to $33 a share then recovered back to 43. We are not seeing any commitment on the buyers side and as you can see the supporting trend line is about to be tested as sellers have moved in and could be taking control again. On the sell side the targets we are looking for is $33.95 this will be initial support on the move down. It would not be unusual to see it Chop in this area from $33-39 with highs to $43. If support holds here at $398 then we would be looking fro a continuation to $44 and then a further move to $49 which is the 200MA or the 200 day moving average. There are many outside variables effecting gold pricing. What goes on in the Ukraine this next week could be more of a determinate than the correction in US stocks. We shall see. Trading Gold, Gold miners in either futures or ETF's is extremely volatile. Do not trade it unless you have spent time studying the charts and have risk capital. Risk capital is money that if lost will not hurt your financial future. For many people buying and holding physical gold is an easier position as it normally turns out to be a long time ho [...]
A great target now is the 1800.00 area of support as that is the level of the long term bullish trend line on a daily and weekly chart. Should price move to touch that area in the net couple trading days or so then I would look for the bounce there to start a possible reversal and test back up again. Should we break that area of support at the 1800 level then we could be looking at this market perhaps making a longer term reversal going into the summer months. With May upon us in a few short weeks, this could be the set up for the seasonal summer reversal to take us into the fall trading again. Trade what you see, I'll see you at the starting line.
Watching as the light volume on the buyer side with the increasing volume on the sellers side is creating a head and shoulders on the Dow Jones Transports. For many the Dow Jones Transports are considered the leader for the S&P500 and Nasdaq. Will be watching for the consolidation to continue at these price levels. The first area of support was touched this past week with two more areas of support at 7380 and 7250 but breaking through the first level of support could prove difficult. As you can see the uptrend is still in tact in the long term and the market players have not distributed in high enough volume to cause a sell off. If we sell to 1390 this could signal an increase in seller commitment to break through the support. I am looking for this to chop around in this first area of support and resistance and further establish this Head and shoulders trading pattern. There is a good chance that the market will move up again on light volume. This could create the perfect storm for the sell off. Especially with some geo political considerations thrown in.
Day trading USD/Cad[/caption] DAY Trading USD/CAD CAD/USD , a nice trade I'm still on. Looking to take some good profits on this one. After clearly passing the 1st test line, USDCAD are moving to the 2nd test. Witch should not be hard to pass, since is a week one especially with the high volatility we moved down to day. But how ever, if sellers don't support price under 1.0940 , I will get out from this trade. if they do...it will be a home run to the 200MA , witch also my target
daily trading bonds[/caption]
silver jump up Or crash down[/caption] Hey Traders a quick one about silver price. On monthly Chart we are approaching to the end of the pennant. and as result we should get a strong break out from one side or another one. On weekly chart, Silver looking to retest bottom one more time, and if fail, retest the downtrend....and keep going this way till we get a break-out. For targets, long will be 27$ at least , and for short one, at 15$. Will be very interesting to see how gold will react on this move Up or Short and $US dollars
gold buyers zone[/caption] Gold | Silver buyers zone but buyers are.. We can see buyers are starting coming back, but failing to move up...at one point I don't blame after get caught in double trap by sellers. Quite normal to have a certain range on consolidation...before the price will restart to move up. How ever, watch for this range in blue, if sellers break this one, look at Joel Wissing last post on Gold to see what will be the next short target. [caption id="attachment_7280" align="alignright" width="300"]
silver buyers in[/caption] For silver...is quite better...but hitting a triple tops on 240min charts. With silver is more clear to see buyers in...one of the reason will be that, there's nothing else to go lower, since we are hitting again the last bottom of all time at 19-20/oz price.Look for buyers breaking this triple top, and then it will be more secure to go long on silver.
Cl day trading[/caption] CL Buyers Trading | WTI Buyers Trading careful, resistance on the way Great short trade was few hours ago...fall again on past buyers support price at 100.00 . Looking for a decisive move by the end of this week. From sellers or from buyers. so for this trade I will be 50/50 from both side. If sellers break 97.00 price a lower low trend will be made , but if buyers close in the green range, we can see a formation of Bullish trend. So watch for CL, good trades are coming.
GBP USD day trading[/caption]
Today however, I took advantage of a move on Crude Oil Futures. I took on a short position shortly after the open and definitely had the right timing on this move. Opening the short just over 101.00 and price has traded down through the short term support area of 100.00 to close the day in the 99.50 area.
On a daily chart this move has moved to break below both the 50 and 200 day MA's, as well as also crossed through the daily supporting trend line. Current my first target will be in the 98.50 area where the next supporting trend line is, with 97.50 as the next area to watch for. As my stop is already in for a guaranteed gain on the account of 1%, I am free to let this trade develop with only profits to gain and nothing to lose. I am watching the longer term chart as well for direction, a close on the weekly candle below last weeks candle would also be a a great sign to stay short on oil for the longer term. But we shall see what the rest of the weeks holds first... This week I am watching the Eur/Aud, GBP/USD, Eur/GBP, and USD/JPY and a possible revers [...]