The EUR/USD looks like it is forming a continuation flag pattern after a good uptrend which is a bullish sign. The breakout has not happened yet but there is a very good chance that it will indeed breakout from the flag. The pattern also looks a lot more mature now, so the breakout will be a lot more reliable.
The pair has been correcting for a long time and has now come to key pivot level on the hourly timeframe. This level has acted as support earlier after the breakout and with the pair so oversold a bounce at the first touch is a high probability. An exhaustion candle on the downside also seems to be forming which is generally indicative that some mean reversion in...
Bitcoin took support at the neckline of the head and shoulder pattern and now is back to the former resistance levels from where it fell. This is a key pivot level and any break above this will open up a substantial upside for the crypto currency. We have also been getting a good rally in the equities and is there now a case when the riskier assets are being...
GBP/USD has been in an uptrend since the pair broke out from the head and shoulder pattern on the hourly chart. After being slightly overbought the pair is now testing the support after retracement. There is powell testiminy in about 6 hours from writing this idea. There is a strong chance that the pair bounces from the support till then. Expect the next few hours...
the counter has run up a lot recently and a consolidation rectangle on the hourly charts has been formed from which the pair has broken down. We are looking at the support of around 179.5 as the target.
AUDCAD is forming a bearish pattern. Good short sell with the stop at 0.9070.
Looks like a flag breakout on the hourly charts. The next resistance is at 1.3000. We have considerable room to rally from here after the breakout. Stops are below the recent lows on the hourly timeframe.
Potential ascending triangle being formed in the commodity. Given the long time on the hourly charts this can take the commodity to the previous months highs. Worth going long with the stops just below the nearest low.
Zinc is now looking overbought on the oscillators, there is a minor resistance here and hence there is every chance that we get some sort of correction from the current levels.
This is a small video on how to calculate the target in the head and shoulder pattern which will allow us to place an alert using the tradingview tools. The tradingview tools make calculating the exact target based on the patterns a lot more easier. I hope this video helps the beginners, please note this is only for beginners and if you are already familiar with...
Gold has broken down from the consolidation from the flag pattern. Bearish overhang on the commodity is likely to continue in the near future and we can see some more correction coming in. There were a lot of gold positional longs and they will perhaps have the trailing stop loss triggered, that can lead to some fast moves on the downside.
looks like that zinc is forming a symmetrical triangle when pegged to the dollar, after a long downtrend there is a strong possibility that the commodity now breaks out on the upside.
Natural gas has formed a reversal pattern on the hourly charts and is now breaking out above the resistance level which can set the stage for a sharp rally in the commodity.
Copper has just crossed above a key pivot level on the hourly time frame. This levels has been tested on both sides as support and resistance earlier and hence it is an important level. The next level is roughly 2% away, thus it is logocal to think that we can get a rally of roughly 14 point in copper in mcx from here. The mcx copper is at 731 and hence the target...
Copper has just crossed above a key pivot level on the hourly time frame. This levels has been tested on both sides as support and resistance earlier and hence it is an important level. The next level is roughly 2% away, thus it is logocal to think that we can get a rally of roughly 14 point in copper in mcx from here. The mcx copper is at 731 and hence the target...
The midcap index has broken out from a consolidation patterns and has made all time highs, this is generally a very bullish development and we will perhaps see a lot of the stocks in this universe break out as well.
A short video on the gold and silver after the fall yesterday and looking at the longer term time frame to understand the key levels. Gold has been the worst performer while the rest are actually looking bullish. Silver has been outperforming gold and that is something that we need to be aware of as it is also used in the industry. Overall the base metals and...
Natural gas is trading above resistance levels and using the key levels we can say that the longs now with the stops below the key pivot level of 2.3000 will work out well. Target can be around 2.4300 for today as that is the next resistance level which has held earlier as well.