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TRADE IDEAS

Whether you’re interested in trading cryptocurrency, forex or equities , AskTraders is on hand to help inspire your next trade. Our team of analysts and traders are constantly scanning the markets looking for the best trade opportunities, the feed below is updated throughout the day with their trade ideas. These are all original setups, researched by professional traders and brought to you for free throughout the day

$SIVB - Time has come to test the bears

$SIVB

$SIVB is another breakout candidate that is setting up. Rea to consider 260.50s. It has shown a nice tighteness in the last few months.It showed some volume yesterday but it has to break the resistance and close higher for a potential move to 300+. Note that the position management remains 2% price risk as a stop and aggressive volume on the breakout day.

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Remember: These are not trade recommendation to buy or sell securities. Always do your own due diligence and trade at your own risk.

Never chase a trade once it is too extended from the entry zone.

Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari January 24, 2020
0 2

$FLIR - Breakout area to watch

$FLIR Bullish

$FLIR has shown a decent setup on the longer-term charts. Consider a breakout of 55.70 area with volume. Stops 2% of price and potential move into 60-62 price area. Make sure you align the breakout with the market. Use alerts to make sure you do not chase the price.

Earnings are on 12th of February – Before Market Open.

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Remember: These are not trade recommendation to buy or sell securities. Always do your own due diligence and trade at your own risk.

Never chase a trade once it is too extended from the entry zone.

Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari January 24, 2020
0 2

CADJPY - Update

CADJPY

Good day traders! CAD/JPY failed to reach the price zone that I identified previously and reversed lower. Price has now reached my lower channel line and might find support there.

Price struggled to break through my center channel line and momentum was drying up during the previous move higher.

A break below my channel line and the support zone I drew on my chart, should confirm that a top is in place and result in a deeper decline.

Potential targets could be set at 82.09 and 80.40.

Conclusion 

I cannot rule out the possibility that CAD/JPY will make another high and possibly enter my original price zone that lies between 85.00 – 86.00, but the fact that price struggled to break through the center channel line and shown momentum  divergence during the previous move higher, is a sign of weakness.

If price starts breaking below previous market structure, then we could see a deeper decline sooner, rather than later.

Until next time, have a great weekend!

Richard Krugel

by Richard Krugel January 24, 2020
0 1

$TWLO - Time has come to test the bears

$TWLO Bearish

$TWLO has been a nice momentum stock since its setup near $100 mark and now it shows considerable slowdown near the 200sma mark. Once the market keeps rising, Twilio Inc has stalled and shows some signs of resistance at 121-122 price range. Local supports are situated at 118 and 117 area but hourly charts show most of resistance at 121.50-122. Consider a short position at 120-121 area with a stop above 122.50. Potential add will be on the breakout of the 118.00 mark and a perfect first target around 114 on 70% of your position. The rest of the position 30% could be placed at breakeven once 118 breakdown is confirmed with a close lower. [Earnings estimated on 5th of February according to Nasdaq.com]

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Remember: These are not trade recommendation to buy or sell securities. Always do your own due diligence and trade at your own risk.

Never chase a trade once it is too extended from the entry zone.

Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari January 23, 2020
0 0

$ZS - Potential Short Reasons

$ZS Bearish

ZS has rejected the 200sma along with two resistance lines it had from the prior highs in September and December. We also might mention the double top formation on the hourly charts out of the 62.25 level. All these reasons gave a clue that Zscaler Inc. is a potentially good short at 60.00-61 levels and stops at 63.00. Its target price will be at previous levels near 53-54 mark, which is a great ~ 4 to 1 risk reward. See if you can get a price today at the mentioned levels. Note some supports around 58.00 area. Consider aligning the trigger with the market on 30min charts. [Earnings estimated at 27th of February according to Nasdaq.com]

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Remember: These are not trade recommendation to buy or sell securities. Always do your own due diligence and trade at your own risk.

Never chase a trade once it is too extended from the entry zone.

Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari January 23, 2020
0 3

AUDCAD - More Downside Expected

AUDCAD Bearish

Entry: 0.9100-0.9180

Target: 0.8903-0.8835

Good day traders! AUD/CAD has been zigzagging lower since the high back in February 2012 and has found support at a 50% Fib retracement level, measured from the October 2008 low.

Since 2013 price found support three times within the green zone on my weekly chart but that support zone was broken to the downside last year. That zone could be a classical case of where support now turned into resistance.

Price has struggled to break below the long-term 50% Fib retracement level after it was reached for the first time in July last year. The actual low came in September last year and the resulting upwards price action looks very corrective in nature.

A channel seems to be containing my proposed bearish phase pretty well and we might see price head back upwards to test the December high at 0.9151 with my upper channel line slightly above that level.

Conclusion 

Last year December’s high and my upper channel line falls within that support turned resistance zone which lies between 0.9100 – 0.9180.

If AUD/CAD makes it up that high, then it will be the perfect spot to attempt a short position with pretty large downside potential.

Price might make it back up there or create a lower high. Potential downside targets can be placed at 0.8903 and 0.8835.

If AUD/CAD eventually breaks below the 50% Fib retracement level again, then we could see a much larger drop towards the lower 0.618% Fib retracement level at 0.8544.

Until next time, happy and safe trading.

Richard Krugel

by Richard Krugel January 23, 2020
0 3

CVNA - Trading Idea

CVNA

[Trade 2] CVNA

CVNA is another stock that might become a good buy in the 82.50-83.00 area. Note the conditions of lower trendlines and the major channel. On top of it we can have some power from the fibo buyers in the 82-85 zone. Id showed some bottoming yesterday and today might be ready for a push.Also note the inverted H&S back-test.

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 Remember:

  1. Never chase a trade once it is too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari January 22, 2020
0 6

WW - Trade Idea

WW

Dear Traders,

We have decided to change the format a bit so you have a more technical and interactive approach to markets and less analytical noise. We are going to give you two trade ideas per day. Could be long, could be short. Note that all conditions should align in order to consider the trade so do not blindly follow them, do your own analysis before the triggering the position.

[Trade 1]WW

WW is an potential trade where we have a channel forming. We are currently in the fibs support zone and previous resistance could flip to support around 36-37 area. If we dont hold the previous support zone we can see 34.50-35 quickly. That is the second zone for the price to show power. Note the major channel.

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 Remember:

  1. Never chase a trade once it is too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari January 22, 2020
0 5

AUDUSD - Update

AUDUSD

Good day traders! AUD/USD created a lower high and broke below the 0.6877 level that I mentioned on the 16th of January. It now seems very likely that the 31st of December’s high was the end of a corrective pattern unless price reverses higher and trades above the recent lower high again.

Price is currently hovering slightly above my lower channel line and median line. A break below those lines will be a good indication that the bears are in full control.

Conclusion 

The first leg lower from the December high was pretty strong and if the current leg lower matches the first leg in distance, then we could see price reach the 0.6750 level, which is a 100% extension of the first leg.

Below that level and we might see a decline towards last year October’s low at 0.6670. Any small corrective pullback could present selling opportunities but keep in mind that the lower channel and median lines may act as support.

Until next time, happy and safe trading.

Richard Krugel

by Richard Krugel January 22, 2020
0 4

International Futures Note - Futures pullback or correction

International Futures Note

Its Tuesday 21st of January and on Monday the 20th US Markets were closed due to the Martin Luther King Day. Markets are pulling back to the technical levels on lower volume. Europe is lower with FTSE leading the drop and Asia is dragged by Hang Seng. By the time this report was written we also see a pullback in the US Futures as well. It’s the second day of Davos Economic Forum and we are starting to see more important earnings releases later this week. The economic calendar has more to affect Europe this week.

US Market Comments:

S&P Futures Have tested gradually two support zones noted on Friday. Currently we are holding the red channel along with a more important support at 3300 area. Please note the combination of support areas near 3300 as being very strong. A quick test of this area with a buying reaction will help the market hold into the next move, otherwise its hard to have a plan at the moment. Netflix reports after the market close and will definitely will affect the technology sector.

S&P Futures:

FTSE did not hold the breakout area and made a pullback on Monday followed by a drop today. As noted on Friday we had to stay on the descending line. Currently there is no technical setup that will help us assess the situation with a more clear view. The Davos summit can trigger some news that can affect European markets in both directions.

DAX has gapped down considerably today but moved quickly higher. We see a good bull power on these levels. I would consider intra-day longs if I had to trade Europe. Local supports around 13470ish and resistance at 13560.

GC (Gold futures) rejected the previous highs at 1566.2 but still looks ok. If you have positions from the buy area noted in green maybe its time to place stops at breakeven for at least half of the size. Current US open might help gold decide its direction.

CL (Crude Light Sweet) as we didn’t hold the supports and the US markets were closed on Monday, today we have to see if local pivots will hold or we go lower to test the 56.00-56.50 area. Current range is between 57.45 and 59.07. Note that 50sma was rejected yesterday but currently the price is near the 200sma.

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 Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari January 21, 2020
1 3

USDCAD - Intermediate Bullish Bias

USDCAD Bullish

Target 1: 1.3104

Target 2: 1.3167

Good day traders! The bounce higher in the USD/CAD currency pair, that started at the end of last year, could have the potential to extend towards the center median line of my pitchfork.

Price has been moving sideways in what looks like a symmetrical triangle formation and a breakout of that pattern, to the upside, could drive price towards the 9th of January high at 1.3104 or even extend towards my center median line and a 0.5% Fib retracement level at 1.3167.

Conclusion 

It will be too early to say whether price is correcting higher or starting a new trend upwards but a break above the triangle formation should drive prices even higher.

If the outcome of this triangle formation ends up being bearish, then we could see price head back towards last year’s low.

Until next time, happy and safe trading.

Richard Krugel

by Richard Krugel January 21, 2020
0 9

GBPNZD - Bullish Bias After Correction

GBPNZD Bullish

Entry: 1.9150–1.9420

Target: 2.0559-2.1021

Good day traders! GBP/NZD has been trading higher within an upward sloping channel since the low back in November 2016. Price has on three occasions failed to stay above the 0.382% Fib retracement level, measured from the August 2015 high, and is currently trading lower after price pipped last year October’s high and reversed.

The current move lower might be corrective within a larger bullish phase and could reach the 1.9150 – 1.9420 price zone before price finds substantial support and turns higher again.

Conclusion 

GBP/NZD has been creating higher highs for more than three years now and if we do get a reversal, then price could head towards last year’s high at 2.0559 or even higher towards my 0.5% Fib retracement level at 2.1021.

A break above my center channel line should confirm that the bulls have taken firm control again but although my bias is bullish, I also have to consider that this entire move higher from the November 2016 could be one large correction.

Either way, there is a swing trading opportunity here to go long and then reverse direction at a much later stage.

Until next time, happy and safe trading.

Richard Krugel

by Richard Krugel January 20, 2020
0 2

International Futures Note - Trend is your friend

International Futures Note

Friday and all the markets are green. We have not seen this for quite a while and the optimism is very high and sometimes getting ridiculous. We see retail people becoming over-excited by the moves and more and more people are chasing entries in the market leaders. This is a sign that the end is near and you have to be prepared. We have the forum in Davos next week that will probably give us some volatility in several sectors. Also note that on Monday, 20th of January 2020 the US market is closed – Martin Luther King Day. Lets go to the charts.

US Market Comments:

S&P Futures continue to show us new highs despite that the move is accelerating. On Monday, the US stock market is closed so we are having a long weekend. Local supports are as noted in the charts and fundamentally, we do not have any news release that might be shaking the charts. Technically our portfolio continues to ride the long side of the trend but will be covering some into the new highs. It’s a market when breakouts work well and mistakes are forgiven, but that will not last long so make sure to use stops and take some money off the table.

S&P Futures:

FTSE finally broke the flag to the upside. I hope European traders got some longs this morning. Stops around 7580s. We already broke local highs at 7683 and the next spot is 7729 to consider. As soon as we are trading On the resistance line, its fine.

DAX gapped higher on the other futures move and that gap can potentially trigger some long signals. No setup for now but watch reaction to prior levels in the 13420 area.

GC (Gold futures) looking good and holding for now. It made a small drop yesterday but looks like buyers are stepping in. If you missed the futures longs consider goldminers etfs ($GDXJ) and gold related companies for a trade.

CL (Crude Light Sweet) tricked us on the trendline faking a breakout and closing strong yesterday. Looks like the guys are seeing it and now if we hold on the line and have a confirmation on a lower timeframe a long might be an option. Although the technicals look ok, not sure if the long will be triggered on Friday so consider next week for an entry if we hold the pot. Stops at 57.40s,

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 Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari January 17, 2020
0 2

XCU/USD - Copper Heading Towards Last Year’s High

XCU/USD

Good day traders! Copper found support last year in September and has the potential to test the 2019 high at 2.9900 before a deeper correction potentially takes hold. On a weekly timeframe, there are also two resistance levels present at that high in the form of a 0.382% Fib retracement level and a 50% dashed median line.

A strong indication that price might test last year’s high will be when Copper trades above a 0.786% Fib retracement level (measured from 2.9900). The center median line of a shorter-term pitchfork also lies around that previous high and may be drawing price towards it.

Conclusion 

Although price might test last year’s high, we have to be mindful that there is a confluence of multiple resistance lines coming together there. Any shorter-term corrections might provide opportunities to target 2.9900 but there is a good chance that those resistance lines will turn price lower again.

Until next time, have a great weekend.

Richard Krugel

by Richard Krugel January 17, 2020
0 2

International Futures Note - Europe shows relative weakness despite US new ATH.

International Futures Note

Thursday and Europe is feeling some pressure. SP500 futures hit new highs surpassing 3300 mark and looks like its not the end. We have some economical news coming at 8:30am NY time and ECB president Lagarde Speaks at 6pm London time. Asia is mixed with Hang Seng and Nikkei green but Shanghai Composite in Red. Trade Deal sign has been absorbed. Lets take a look at the charts.

US Market Comments:

S&P Futures pushed higher to 3300+ and set a local high at 3308. Currently this is the short-term resistance. Next resistance 313-316 area. Sentiment remains extremely bullish. Supports at 3295 area for local intra-day and another major supports at 3287ish area along with the channel trend line. No reason to short here although some high beta names need a few days of rest.

S&P Futures:

FTSE does not show signs of strength for now and is still ranging after the December rally. The long-term trend line remains valid. Now we should see if the price reacts to the blue resistance/support. Remember, no position is also a position.

 

DAX is showing weakness. It tried pushing higher through the local pivot of 13487.9 but failed. Retraced aggressively to yesterday lows and now looks more bearish. No clear setup now, ranging.

GC (Gold futures) looking well and bounced off the previous fib levels of support. Currently if shows strength and is rising with SPX futures. Potentially that might signify a higher rate of uncertainty of investors as we see higher prices in the US equity markets. Gold is used for portfolio hedging and reading both instruments (ES and GC) could give you an edge.

CL (Crude Light Sweet) failed the support trendline and stopped some of us. That is normal behaviour once you follow a well designed plan. Our next support area where longs would make sense is near the 56.00. Remember that we don’t blindly buy there, we wait for a price reaction and use lower timeframes to confirm the trade via a short term trigger. Now we just set alerts and wait.

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 Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari January 16, 2020
0 2

AUDUSD - Bearish Bias

AUDUSD Bearish

Entry: 0.6877

Target: 0.6799-0.6670

Good day traders! The move higher from last year’s October low into the 31st of December top looks like a corrective phase within a larger downtrend.

Price might create a lower high soon and a break below yesterday’s low at 0.6877 could be the first indication that AUD/USD will decline further.

Lower targets could be set at 0.6799/0.6800 (lower median line of my pitchfork) and 0.6670 (last year’s low).

Until next time, happy and safe trading.

Richard Krugel

by Richard Krugel January 16, 2020
0 1

International Futures Note - Mid-Week – Levels Holding

International Futures Note

Its Wednesday and we are seeing that the markets stalled a bit in a big range. The sentiment remains bullish. We had some news regarding the US/China tariffs to stay after the elections as well, although today the trade deal phase 1 should be signed today. Looking forward to some news regarding it. We are starting to see banks reporting, mostly better. Asia is slightly lower and Europe is mixed at the moment. Lets take a look at the charts.

US Market Comments:

S&P Futures trapped in a range. Current resistance at 3295ish and supports around 3275/78. Next supports around 3264 areal. The market remains extremely bullish and a lot of stocks show strength but, yesterday some of the extended high beta names showed a series of profit taking and some sectors look parabolic. The sentiment is still bullish but with caution in the orange zone.

S&P Futures:

FTSE slowly ranging, although it’s the only European index that is green for the day. Resistance around 7683 and supports at 7525ish. Watch the action for now.

DAX is drifting sideways for now. As soon as we are under the resistance red line we have a chance to close the gap area. If we break higher to 13500, we have a chance to go further to 13600 spot. Watch price action for clues atm.

GC (Gold futures) showed very nice reaction to the fib supports and bounced back. Stock market traders also noted GLD and GDXJ setups so if the market starts a slow correction, gold might be a shooter. 1566 is the breakout area to consider.

CL (Crude Light Sweet) double tested the support area and held. Kicked off those that had ugly stops and looks like now it might be ready for a bounce. Note today there are oil numbers that might trigger the trade volatility. Watch reaction to news.

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 Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari January 15, 2020
0 2

XAUUSD - Will Gold Correct Deeper?

XAUUSD Bearish

Entry: 1519.65

Good day traders! XAU/USD ran into a 0.618% Fib retracement level for the first time since the November 2015 low. Price also tested the upper median line of a pitchfork for the second time and there might be enough resistance in place to turn Gold lower.

XAUUSD Chart

I cannot rule out another high, but Gold could very soon start a deeper decline. If price starts breaking below the 1519.65 level, with decent momentum, then we could see a test of last year November’s corrective low.

Conclusion

My bias on Gold remains bullish over the long run but I do expect a correction to take hold soon. That being said, the current world political climate could get worse and drive Gold much higher. We cannot control these things but if price does correct lower, then it will just give us another opportunity to trade Gold to the upside again.

Until next time, happy and safe trading.

Richard Krugel

by Richard Krugel January 15, 2020
0 4

International Futures Note - Major Banks Reporting

International Futures Note

Its Tuesday and Monday sentiment was quite bullish despite some technical levels to consider. Currently Europe is down a little and SP500 also tried testing yesterday levels but got a nice bounce from 3275ish. Today major banks report in the US before market open so take note on JPMorgan, Citi, Wells Fargo. Lets take a look at the charts.

US Market Comments:

S&P Futures are trading in yesterdays range. We had a pullback to 3275ish where the trend line along with a level of support helped the price climb back into the higher range of the Monday. At the moment we have technical levels mentioned in the chart and we remain bullish. A strong resistance to mention is 3305 along with a weekly support at 3265ish.

S&P Futures:

FTSE remains in the range. Consider scenario with a trend line breakout or a fade. Current levels does not provide an edge or a clear situation. The setup might be a flagging one but other indices have to confirm. See how FTSE shows relative weakness vs SP500 and doesn’t show new highs.

DAX is trying to fill in the gap as it broke the support zone. Currently gets some traction from the 13374 levels. Watch hourly charts for shorter-term clues. Consider that once we are back inside the broadening megaphone pattern mentioned on daily, the momentum shifted to the short side. Full gap fill at 13334.

GC (Gold futures) made a local lower low to the 1536 area but quickly bounced to 1545ish. Currently we need more conditions for the trade to be triggered. If you are starting a position, start with wider stops and a smaller size. (4H charts)

CL (Crude Light Sweet) worked perfectly out of our trend line and horizontal support. You could have been already making profits if you followed the 58 level for a buy area. Now we need a new higher low coming in the next few days on H4 or H1 charts, then daily. If you initiated, stops at low of the day. Make sure you don’t risk more than 2% of your account on this one.

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 Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari January 14, 2020
0 1

CADCHF - Triangle Formation Update

CADCHF Bullish

Entry: 0.7345 – 0.7407

Target: 0.7505-0.7618

Good day traders! CAD/CHF is still trading sideways within a contracting triangle formation since my last update. My bias on this currency pair remains bullish and at some stage, there has to be a breakout as the price range gets narrower and either the bulls or the bears get the upper hand.

CADHCHF Chart

Price is currently trading within a range around my 0.5% Fib retracement level but if another decline takes place that moves into the 0.7345 – 0.7407 price zone, then I will be looking for an opportunity to go long.

Conclusion

The current range-bound price action could still go on for a while but if price breaks above the 0.7505 level, with decent momentum, then potential targets could be set at 0.7618 and 0.7700.

Until next time, happy and safe trading.

Richard Krugel

by Richard Krugel January 14, 2020
0 2

International Futures Note - Earnings Week – Let the party begin

International Futures Note

Monday 13th of January, we are heading into the start of the earnings season. Europe is slowly higher with FTSE leading. DAX is lagging. This would be an interesting week that can give us the market sentiment for the rest of the month so stay focused on levels.

US Market Comments:

S&P Futures are moving higher, slowly approaching +0.4%. Optimism remains unchanged. Tomorrow on Tuesday JP Morgan, Citibank, Wells Fargo report before the market open. I do not expect many moves in the market itself today as most probably the investors will be waiting for the earnings results of the main banks. We have a larger expanded range so let us look at the chart. Support and resistance noted in R and S.

S&P Futures:

FTSE is still strong and it is tightening. Showing a consolidation on the channel blue line and potentially can push higher if it gets a trigger going. This one could be some economic or political news that will help investors push it; otherwise, it will slowly float in the range. Local supports around 7528 and resistance 7683.

DAX is the weakest from the European indices but for now holding the technical level. Lets see if we can have a test around previous highs @ 13426. Don’t get fooled in the story that all gaps should be filled.

GC (Gold futures) did show some reaction vs the fibs and now holding. If the market will try a move lower, most probably gold will continue its move to the upside but before that happens, the fib area could be tested multiple times so don’t get a blind long, lets see how a combination sets up with ES and GC.

CL (Crude Light Sweet) closed as an inside day on Friday and today trading in the lower range. Next level of support at 58.02 with horizontal line and trendline combining.

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 Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari January 13, 2020
0 4

AUDJPY - Running Into Strong Resistance

AUDJPY Bearish

Entry 1: 76.75

Entry 2: 78.00

Good day traders! AUD/JPY is approaching a strong area of resistance in the form of a long-term center median line.

The zigzagging nature of price structure, from last year’s August low, could be a corrective phase within a larger downtrend. Price has not yet tested the long-term center median line and might still be drawn towards it.

Conclusion

It will be too early to say whether AUD/JPY is correcting higher or if this upwards move is the start of a larger push higher, but if price makes it into the 76.75 – 78.00 price zone, then we could be presented with an opportunity to go short.

If price makes it into my price zone and presents a reversal pattern on a daily chart, then I would start looking for an entry and set my targets accordingly.

More updates to follow.

Until next time, happy and safe trading.

Richard Krugel

 

by Richard Krugel January 13, 2020
0 4

International Futures Note - New day, New highs

International Futures Note

Finally its Friday January 10th. Yesterday we had a continuation move higher on almost all indices. The markets remain bullish and the sentiment gives lots of opportunities in the stock markets. Strong stocks move higher and give entry setups to active traders. Even Mr. Trump tweeted on the savings account 409k, which is actually 401k – everyone had fun. Ok lets stop talking and take a look at the charts. (NFP 1hr before US mkt open)

US Market Comments:

S&P Futures slowly moving higher on optimism. Currently in red a small channel is keeping the futures in an up-trending environment. We are having NFP news 1 hour before the market opens and lets see what type of volatility will we embrace. Supports 3275ish and resistance around 3300.

S&P Futures:

FTSE slowly moving flattish. Looking strong and potentially forming a flag. The breakout of the flag on Friday is not very probably so Id wait for a trigger next week to consider this trade. Supports 7525ish.

DAX is holding the gap and might push higher into its psychological level at 13600. It had a nice back-test of the previous resistance that turned into support so now 13450ish is local support.

GC (Gold futures) slowed down but the US mkt is pushing higher. Please note that gold is not falling while the us mkt is taking new highs so there is a big change that if we start a correction, the gold might try and push higher. For now technicals say to consider 1531-1544 levels as buy areas.

CL (Crude Light Sweet) is trading around 59.30 at the moment. At 58.71 is yesterday low and major supports as mentioned are near 58.00. Lets see if we get there today. There is a chance we should skip that day for CL trading and consider trying some in early next week.

Join our Telegram Chatroom to ask me questions| https://t.me/asktraders

 Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari January 10, 2020
0 3

NZDUSD - Expecting a Deeper Reversal Lower

NZDUSD Bearish

Target 1: 0.6544

Target 2: 0.6479-0.6414

Good day traders! NZD/USD remains within a long-term downtrend and an extended reversal lower might be on the cards after price ran into a downward sloping trendline, measured from the July 2014 high.

Last year’s September/October low made a double bottom with the low in August 2015 and traded higher into a 0.382% Fib retracement level.

Price made a substantial move lower after it reached the upper median line of a pitchfork for the first time. There is a lot that came together at that high – price reaching the upper median line, the trendline, the 0.382% Fib level and a daily reversal candlestick pattern.

Conclusion

It would be wise to wait for a lower high first before a short position is taken. Targets can be set at 0.6544, 0.6479 and 0.6414 which are Fib retracement levels.

Until next time, happy and safe trading.

Richard Krugel

by Richard Krugel January 10, 2020
0 3

International Futures Note - New Highs – That’s it

International Futures Note

Its Thursday and our first full trading week of 2020 is coming to an end. Amazing volatility and great opportunities in Oil, Gold and SPX Futures markets. We are having NFP data tomorrow that might shake the sentiment a bit but for now, we are super bullish with SP500 futures making a new high. Markets continue to update their local highs.

(https://money.cnn.com/data/world_markets/europe/)

US Market Comments:

S&P Futures hourly charts had a very aggressive buy-back from lows yesterday and continued further into the Asian session. Currently we updated our ATHs and the purple resistance is the short term resistance for the price to embrace in the current session. We do see the megaphone pattern forming over 4 days and that is not a good sign. Its not a short signal yet but as ranges starts to expand, expect the unexpected. Level to watch 3276ish.

S&P Futures:

FTSE held supports near 7540s and now trading higher. We still have the trend line with the resistance pivot at 7683 to be taken if we want to see higher prices. Other markets should support that move also or some fundamentals should trigger a push in Europe.

DAX super bullish today, gapped higher now resistance can become support and we might see higher prices near 13600. We had no expectation for this move to happen so aggressively. Sometimes we miss things too.

GC (Gold futures) continues to fall back as the markets become constructive and clear bullish again. Now we are trading near fibs area but lets see if we have to back-test the channel resistance line in blue. It would be good for gold to have a few days of flattish action and then push for another leg higher. Consider GC trades to be in accordance with ES.

CL (Crude Light Sweet) dropped considerably and now might be trying to find a short term bottom. We have the black support line and an important area near 58.00. In our humble oppinion we may see a little lower prices with the trendlines to catch-up and then we can think of a trade.

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 Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari January 9, 2020
0 2

EURCHF - Counter Trend Reversal

EURCHF Short-term: Bullish

Target: 1.0892 - 1.0941

Good day traders! The EUR/CHF currency pair has just pipped last year’s September low and although the larger trend remains down, I think the chances are good that we will see a counter-trend reversal to the upside.

There is momentum divergence present on my MACD-Histogram at this low and if we can get a bullish daily candlestick today, then we might have a reversal pattern at hand similar to the previous reversal patterns, as indicated by the yellow ovals on my chart.

Conclusion

If a reversal does occur, then price could be heading towards the 1.0892 and 1.0941 levels. Reversal counter-trend type trades are slightly riskier and perhaps not everyone’s cup of tea, so proper risk management will be of the utmost importance.

Note: A break below yesterday’s low, without a decent reversal pattern, will invalidate this trade idea.

Until next time, happy and safe trading.

Richard Krugel

by Richard Krugel January 9, 2020
0 4

International Futures Note - International Conflicts vs Market Trends

International Futures Note

Welcome back and its Wednesday the 8th of January 2020. The futures were shaken with the air attack on the US military base; you probably heard the news already. The important thing is the reaction of the price towards these strikes and I can comment that bulls still have lots of steam and the overnight aggressive drop was quickly bought back. Lets go to the charts.

 US Market Comments:

S&P Futures hourly charts show a nice reversal from yesterday right shoulder and a considerable drop to the lower range of the channel. At the moment the price bounced off to yesterday levels and turned the day to green. Very aggressive buyers are in and we shall see if the current levels will hold. The drop and the bounce was mainly in the Asian session so US traders have to confirm the move by building more volume into the current price levels. If we hold current levels we might see further moves higher. Remember the Irak war? Well it was a huge economic and market boost(see charts).

S&P Futures:

FTSE again bounced off supports at 7528 and now trading higher at 7573. We see bullish sentiment from short-term traders and big institutionals. If you are long versus that level of support, consider a continuation to recent highs at 7650s.

DAX is tricky and its having some weird moves in a broadening megaphone formation. Consider the inverted head and shoulders from the bottom as another factor to the upside but without the other indices, there would be no rally. Id stay away from it for now.

GC (Gold futures) spiked on the Irak news and our new high is 1613.3. Now important to know if previous levels hold around 1560s. Take note that ES and GC are discorelated and these instruments may give clues to each other move even before the momentum starts. While trading these keep both charts near each other and you will see what I mean.

CL (Crude Light Sweet) might be coming to its H&S levels at 64.76. Today we have Oil numbers and it’s a binary event with volatility taking place so lets wait to see which levels will be attacked. Supports around 62.00 and resistance 64.76.

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 Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari January 8, 2020
0 6

AUDCHF - Expecting a test of last year’s lows

AUDCHF Bearish

Target 1: 0.6542

Good day traders! AUD/CHF remains stuck in a downtrend and I think there is a high probability that price will test last year’s lows.

The decline from last year November’s high reached the lower median line of a downward sloping pitchfork today. If support holds, then we could see a move higher again which could either result in a lower high or a test of the November high.

Conclusion

Ideally, I would like to see price move as high as possible before I will look for a short since that will increase my reward versus risk ratio. If price continues dropping from here, then I missed the opportunity.

My first target will be located at 0.6542 and my final target if price touches my lower channel line.

Until next time, happy and safe trading.

Richard Krugel

by Richard Krugel January 8, 2020
0 1

International Futures Note - Bulls in power

International Futures Note

The drop over the weekend presented a great opportunity for the bulls to step in at better prices. We are seeing positive dynamic all around the globe and looks like the December rally is not over yet. A few of respectable options, futures and stock traders I’ve talked with are looking positively into this month and these are not CNBC Cramer style speculators but HNW fund managers and strategic thinkers.

Alright so I hope you did have a great Monday and we can proceed to the charts.

 US Market Comments:

S&P Futures had a great bullish momentum for the whole day and closed inside Friday range. Currently we are trading higher, near the top of Monday. Supports to hold 3206.75 – 3200.00. Here we may wait for some sideways action or we can take the highs by the end of the week. Levels to consider 3262.25.

S&P Futures:

FTSE bounced off with the US open as expected and traded higher today. Great moves with great technical setups. Currently the prices have to settle a bit and maybe by the end of the week we will see higher prices. Supports at 7528.

DAX is hard to catch these days and its being choppy chop. I would consider staying away from it till it gets a better technical situation.

GC (Gold futures) good if you covered some into yesterday 7 year highs. Currently Gold dropped a little and is holding yesterday range. Local supports at 1557 which is current session lows.

CL (Crude Light Sweet) is still in a slowly uptrending pace. We had a new high yesterday since May 2019 which is at $64.34. Lets see if the trendline holds and maybe we get a slightly lower correction to 61 before going to 66ish.

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 Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari January 7, 2020
0 3

CADJPY - Expecting Reversal Lower

CADJPY Bearish

Entry: 85.00 – 86.00

Good day traders! The upwards move from the August 2019 low is currently approaching the upper median line of a long-term pitchfork (in green) and I do expect strong resistance to set in if price reaches that line.

CADJPY Chart Daily 07012020

Price is currently hovering around last year October’s high and an upward sloping channel has contained price action from the August low very well.

Conclusion

Price might still be drawn towards my upper channel and green median line around 85.00 – 86.00 before a meaningful reversal occurs, but my MACD-Histogram is currently showing a decrease in momentum.

If price does not reach my 85.00 – 86.00 price zone, then an early indication that a top might be in place will be when price break below my lower channel line.

It is too early to execute a short position but once a strong reversal does occur, then I will be using market geometry as a guide to set my targets. More updates to follow.

Until next time, happy and safe trading.

Richard Krugel

by Richard Krugel January 7, 2020
1 2

International Futures Note - Political and Military tensions create market uncertainty.

International Futures Note

After the rising tensions over the weekend, the markets created a gap and showed some weakness on Monday. Currently we are in the European session with DAX leading the drop and FTSE and CAC following. US Futures are also in the red territory but not dropping as aggressively as Europe. We are in our non-holiday week after the new year so lets embrace volatility and trade both ways.

US Market Comments:

S&P Futures are trading inside Friday range and looks like we may hold 3200. Of-course we will know for sure once the market opens. Currently there is no reason to go short as we are near supports and even if we break lower, technically we remain in an up-trend as soon as we hold the channel. Consider a reaction versus Friday lows + 3200. Be prepared that we have unemployment data this week.

S&P Futures:

FTSE back-tested the blue channel line and the 7535 area. Currently bounced off a bit and if the stars align with the other indices, we may see a bounce on the US morning open.

DAX is considerably lower and looks like the macro pattern gave us a nice pull-back. Id avoid this instrument for now and maybe watch it for a confirmation on what the Europe might be doing further.

GC (Gold futures) amazing move higher on tensions and fear. We’ve hit seven year highs in Gold and momentum has been amazing for bulls. If you have positions consider unloading some as these parabolic moves can bounce back quickly. Consider 25-50% of your position to be closed near current prices. Quite tactical move if you followed the technicals in this instrument.

CL (Crude Light Sweet) due to tentions it has some buyers stepping in but the price action is so ugly that we are avoiding it for now. If you hold positions, stops under Friday lows.

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 Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari January 6, 2020
0 2

Nasdaq (NQ) - Projecting more downside

Nasdaq (NQ) Bearish

Entry: 8800.00

Target: 8625.00

Good day traders! The Nasdaq reversed lower on the 3rd of January and created a possible lower high afterward. This week started with a gap lower and a potential short trade might present itself if price breaks below the 8747.75 level.

Ideally, I would like to see that gap filled first, which lies slightly above the 8800.00 price level, followed by another decline. If this happens during the US trading session, then I feel that price has the potential to trade towards the 8691.25 and 8625.00 price levels.

Until next time, happy and safe trading.

Richard Krugel

by Richard Krugel January 6, 2020
0 3

International Futures Note - America Buying – Europe Down – Asia Flattish

International Futures Note

Despite the fact that yesterday we ended up on a very strong note hitting record highs in Nasdaq and SP500 futures, the Asian session triggered a strong sell-off that brought us back to Friday levels. Europe got hit as US Airstrike kills Iranian commander. Tensions are spiking and this fear factor may shake the trend.

US Market Comments:

S&P Futures made a new high yesterday but couldn’t hold the gain once the US Military killed an Iranian Commander. Technically the event didn’t change much but we are still not considering that the market is closed. There is a feeling that some investors would like to rebalance their portfolios as a result of the unexpected event so more moves could be ahead.

S&P Futures:

FTSE is lower due to the US – Iran news. Now supports are near 7535s. Lets see of we hold the prior pivots. If you have long positions under 1450, use stops to protect yourself. If you’re short, stay aware as its not a trend change yet.

DAX after hitting previous pivot highs gapped down considerably, dragging the Europe lower. At the moment its slowly sliding lower, retesting previous pivot at 13140. As Europe is lower and US Futures also reacted with a sell-off, its important to see how do we open in the US Session and how the first 30mins are traded.

GC (Gold futures) due to fear in the Equity markets started a strong move hitting a 3 month high at 1530.4. If we continue to fall in the US Session we might see a more aggressive move in Gold Futures. If we start bouncing, gold will have a slow-down but its still up-trending so no shorts are allowed.

CL (Crude Light Sweet) of-course it topped on the Middle East tensions and current session high is at 64.03. I wouldn’t consider any positions at the current levels in Oil.

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 Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari January 3, 2020
0 6

NZDJPY - Preparing for a reversal lower

NZDJPY Bearish

Entry: 74.00 – 74.37

Target: 71.10 - 69.92

Happy New Year traders! I have been tracking the rally from the August 2019 low on the NZD/JPY for a while now, and my longer-term outlook remains bearish.

Last week’s high fell short of a 0.618% Fib retracement level and an upper channel line and price reversed lower.

NZDJPY Chart

Since price did not test my upper channel line and 0.618% Fib retracement, I would ideally like to see some sort of A-B-C correction lower, followed by another high around the 74.00 – 74.37 price zone for an opportunity to go short.

That being said, I feel that there is a chance that a high is already in place and the first stab at a short might present itself if price retraces the recent decline and create a lower high.

Conclusion

Should this decline continue, then price could be heading lower towards the 71.10 to 69.92 levels.

It would be wise to wait for a lower high first before a short position is taken but keep in mind that two attempts might be necessary in case the first fails.

More updates to follow.

Until next time, happy and safe trading.

Richard Krugel

by Richard Krugel January 3, 2020
0 6

International Futures Note - New Opportunities in 2020

International Futures Note

I hope everyone had a great NY party so we can slide the markets with a refreshed mind. The Europe looks great for now. US Futures also higher and Asia is positive. We continue to see positive moves in most futures even after a few days of red arrows. Fundamentally, nothing changed and there are several sectors in the markets that might consider a move this year.

(https://money.cnn.com/data/world_markets/europe/)

US Market Comments:

S&P Futures bounced off the 3225 area and are trading near the all-time highs ~ 3254. Local Swing Low is 3213 that is the pivot to consider stops if you hold longs. For now, the channel holds and we have no reason to consider a change of trend. I would continue holding my portfolio but also be a bit more picky in for new trades.

S&P Futures:

 

FTSE did retrace lower but bounced off the back-test of the blue resistance flip near 7530s. Currently we have to hold the pivot at 7535 and break 7683 with volume to continue the grind higher. The move could be helped from the fundamental side with the Brexit positive talks.

DAX holds the pivot low at 13140 and bounces to 13340s. Currently we might see a sideways action and a potential test of the blue trend-line. Level to consider longs 13200/13150.

GC (Gold futures) broke the previous pivot at 1519 and has put a high on the 31st at 1529ish. Currently its trading in the middle of Tuesday range. The upside remains strong so stay with the position if you have bought under 1500.

CL (Crude Light Sweet) has topped on a short term with highs 62.32. Currently the move might resume after a small pull-back around the middle of the next week.

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 Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari January 2, 2020
0 2

International Futures Note - New Year Week – Will bears become active.

International Futures Note

Welcome back to traders and I hope everyone had a great weekend or still having a part time chill. Tomorrow is the last day of the year and I wont be posting so lets wrap a game plan till January 2nd. Europe is lower and the US futures are flat. Most of the Europe has an early close tomorrow and will be feeling hangover on Wednesday. No major news this week. Straight to the charts.

(https://money.cnn.com/data/world_markets/europe/)

US Market Comments:

S&P Futures are trading in the lower zone of the Friday range at the moment. If we break the 3235.50 which is Friday low, we can see lower prices near 3225ish. Some stocks may react harder as in the past few weeks we have seen extremely accelerated moves.

S&P Futures:

 

FTSE closed as a shooting star on Friday and currently being lower as the resistance line has power for now. No clear level to consider longs. If you re long from lower prices, reduce to 30% at current prices.

DAX is a bit messier but holding. Recent pivot high at 13381 and pivot low at 13140. This is the range for it to settle and maybe form a continuation or a reversal pattern. For now it may look like a H&S but it’s not confirmed.

GC (Gold futures) has some resistance at 1519 as expected. If you had a position, it is a spot to reduce some and maybe add it back once the 1520 gets taken. Unfortunately I missed it due to Christmas Holidays but will closely watch for an entry between 1520-1500. A back-test with a few days of flat move might be a good thing for the price to continue its move higher.

CL (Crude Light Sweet) may be ready to test the previous levels near 63.20. Its slowly grinding higher and supports now become 60.00.

62.12 current session highs.

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 Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari December 30, 2019
0 3

International Futures note - Ho Ho Ho, the trend continues!

International Futures note

Merry Christmas to everyone. Its 27th of December and we are in a strong uptrend on European and US Futures. Looks like Santa made all traders happy this year. Currently 4:30am NY time, Europe is up +0.3% on average and US is up 0.5%. The charts look parabolic and that is a bit frightening.

(https://money.cnn.com/data/world_markets/europe/)

US Market Comments:

S&P Futures continues without any desire to make a correction. Everyone is buying and the trend remains unchanged. We are still in the channel and although the volume is dropping, its mostly due to the Holiday season but lets watch how we start the year next week. For now if you’re long, hold, if you’re shorting, you should be very picky in terms of instruments. Consider some resistance on the upper line of the channel. Supports for short term 3225ish.

S&P Futures:

FTSE did exactly as we were expecting for the last push since 7500 to 7650. For now we see some resistance at the trend-line and it’s a good spot to cover a part of your position if you hold some from lover levels. Session high – 7683

DAX continues to stay strong but the daily diamond formation is a bit tricky from the technical point of view. The green trend-line holds for now but I will not be surprised if we test the blue ascending supports.

GC (Gold futures) gold had a nice push on the Christmas days. It finally broke the daily flag and looks like it may be ready to continue its move. If you have positions from lower prices its wise to hold at least 50% for a bigger move. We can easily break 1566 highs if we start a move as hold has been consolidating in this range for over 3 months.

CL (Crude Light Sweet) looks like the previous channel is no longer valid as we’re moving higher. The red resistance line gave a small pull-back but the price continued to show power. Today we have oil inventories at 11am NY time so lets see. Currently we are trading near 62.00. Next target 63.25. Consider that oil has also been slowly grinding since october, maybe it gets a momentum move to 70s quite soon. We shall see.

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 Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari December 27, 2019
0 4

International Futures Note - Friday Thoughts Before Christmas

International Futures Note

Its finally Friday and the markets are still looking north. US made a new high yesterday with Nasdaq (NQ) being stronger. European DAX, CAC and FTSE also showed strength. At the moment Europe is trading on a positive note and US futures are trading in the upper range of yesterday price area. Looks like the bulls are still strong but don’t forget that Fridays could be tricky.

(https://money.cnn.com/data/world_markets/europe/)

US Market Comments:

S&P Futures pushed through the highs and trading on 3210. We remain strong with local supports at 3200. Some sectors and stocks have a very fast momentum so maybe its wiser to pick the best in breed. As soon as we are in the channel and continue to make higher highs, we’re ok. Pivots matter so short term support pivot is at 3192.

S&P Futures:

FTSE pushed higher, looks decent. Targets at 7650s with stops under 7500. If you don’t have a position its late to get in as it might be tricky at these levels.

DAX reacted to the bullish sentiment overseas and closed with a hammer yesterday showing some buyers are stepping in. Its not the best setup but it doesn’t confirm the trend power for now. Pivot to consider stops 13140ish, which is Thursday low.

GC (Gold futures) showed some power yesterday. Looks like the trendline might be taken. We have a new small channel forming in blue. Supports at 1475ish.

CL (Crude Light Sweet) slowly grinding higher and making a new local high. I wouldn’t consider a new position here but if you have a long, short term supports for swing Is 59ish.

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 Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari December 20, 2019
0 4

EURGBP - Update

EURGBP

Good day traders! EUR/GBP traded lower than my first support line (see December 11th update), which prompted me to draw a different Schiff Pitchfork (in green) to see if there was another median line that supported price and started the current bounce on the 13th of December.

Last week Friday’s low found support right at the lower median line of my green pitchfork and although I’m only seeing this after the fact, I would now expect price to be drawn higher towards at least one of my center median lines at 0.8661 and 0.8737.

Until next time, happy and safe trading!

Regards

Richard Krugel

by Richard Krugel December 20, 2019
0 7

S&P500 - Day trade outlook: Bull trend extends again

S&P500

A Thursday rally to new record high at 3213.75, to build on the Tuesday-Wednesday high-level consolidation plus the mid-December late surge through the prior record high at 3158.0 (for an intermediate-term bullish shift), to keep risks higher for Friday.

  • We see an upside bias for the new cycle high at 3213.75; break here aims towards 3215.75, maybe 3229.5.
  • But below 3184/81 opens risk down 3159/55, maybe 3137.25.
by Steve Miley December 20, 2019
0 1

International Futures Note - Market Volatility Slowdown – Lazy Markets

International Futures Note

Thursday and we are seeing extreme moves in the indices. Holidays are coming and more and more investors are willing to look at their screens. Europe is mixed with FTSE at +0.2% and DAX down about -0.33%. Asia not doing much. Some news expected like Existing Home Sales at 10-am US time and BOE Interest Rate Decision. There are some news related to Trump political impeachment but seems like the market doesn’t care.

(https://money.cnn.com/data/world_markets/europe/)

US Market Comments:

S&P Futures remain in a tight range, volume is slowing down and I wouldn’t expect a hell of a lot from the futures moves. Its hard to tell what is doing to happen next so no position is also a position in the markets. I would like to see we are retracing a bit before going higher but its just an opinion. Supports unchanged 3177/80.

S&P Futures:

FTSE trying to break from a short-term flag. Interest rates remain unchanged. Resistance 7554 and support at 7497. As it’s the last week before Christmas Id not chase a trade here.

DAX is going lower, hitting session 13162s. I would wait till we pass the holidays to revisit the charts. It’s a bit tricky to take decisions now as even weekly charts don’t show a clear situation.

GC (Gold futures) doing hell of a nothing at current price levels. Maybe after holiday sessions will give us some clues. At the moment the price action is too narrow and the volume too low to take a trade.

CL (Crude Light Sweet) very interesting situation. Closed strong yesterday but the volume was low. Currently looks like it feels the red resistance line and might be tricky for bulls. 61.07 is the current session high.

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 Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari December 19, 2019
0 3

XAUUSD - Philadelphia Gold and Silver Sector Index (XAU) – Approaching Strong Resistance

XAUUSD

Good day traders! XAU is an index composed out of a selection of precious metal mining stocks in both the Gold and Silver sectors.

The high that was formed on the 28th of August 2019 ran into strong resistance when price reached an upper channel line and upper red warning line.

Price is currently approaching that high again at 102.3, but the entire price structure from the low back on the 11th of September 2018 can be counted as 4 completed waves, with the final 5th wave currently underway.

A break above the 102.3 level could see price extend towards the 105.1 level or even higher towards my upper red warning line, but I do expect a decent correction lower at some stage that could last for a few months.

Until next time, happy and safe trading!

Regards

Richard Krugel

by Richard Krugel December 19, 2019
0 3

USDCAD - Day trade outlook: Bias lower

USDCAD

A Wednesday selloff below 1.3142 to probe lower through 1.3110/07 supports, to reinforce Tuesday’s rebound stall at the down trend line from early December and capped by the 1.3205 resistance level, to keep risks lower for Thursday.

  • We see a downside bias for 1.3098; break here aims for 1.3069 and maybe key 1.3037.
  • But above 1.3164 opens risk up to 1.3205 and maybe 1.3235.
by Steve Miley December 19, 2019
0 1

International Futures Note - Mid-Week Slowdown

International Futures Note

Good morning and lets start with the fact that I hate Wednesdays. Its my worst day of the week statistically and I am already feeling tired after a strong push on Monday and Tuesday. Our plan for today is to continue to ride the trends and see where do we have an edge. European markets are flattish with DAX leading the drop. Asia is mixed and US is holding. We only have a block of Oil News coming. Christmas is close and I don’t expect a lot of moves till the end of this trading week.

US Market Comments:

S&P Futures peaked with a new high yesterday and retraced. We had a very low volatility so short term resistance 3203.5 and supports at 3177. Flattish move is expected in the upcoming few sessions if no unexpected news come out. The technicals remain unchanged on the chart.

S&P Futures:

FTSE is holding 7500ish for now and is relative stronger than the rest of Europe. Its good it had the election catalyst and for now we have a more defined tactical plan to trade. Ideally Id like to see a back-test to 7450 where the price to hold and move higher to 7650+ but we shall see, Its just a thesis so lets monitor the chart for a confirmation.

 

DAX is trying to back-test the trend line and 13200. The pullback is something healthy considering its technical condition but it’s the weakest of the Europe and has some pressure on CAC40. The trend line should hold for the trend to stay unchanged.

GC (Gold futures) is interesting but I would stay away from it for the holiday season. Volume is dropping, big money is not actively in so chop-chop might happen at any given time and Gold could be very volatile if something goes wrong.

CL (Crude Light Sweet) bullish momentum is holding but the volume is just super low. The resistance breakout backtest worked well and now we are near a more significant resistance line (red one). Today we have oil numbers, consider supports around 60.00s and make sure you are not too aggressive.

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 Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari December 18, 2019
0 1

GBPJPY - Expecting deeper correction

GBPJPY

Good day traders! GBP/JPY traded much higher than I originally anticipated but a rework of my original analysis now shows that price ran into two different intersecting median lines last week Friday and reversed.

Price also broke above the upper channel line that I originally drew and is currently testing it from above.

GBPJPY Daily Chart 18122019

Ideally, I would like to see price retrace the current selloff, create a lower high and then attempt an entry targeting the 141.50 and 140.12 price levels.

The first leg down of a larger correction might still be underway but if we do get a lower high at some stage, then I will start using market geometry to project how deep this entire proposed correction could go.

Until next time, happy and safe trading!

Regards

Richard Krugel

by Richard Krugel December 18, 2019
0 2

EURUSD - Trade outlook: Upside threat

EURUSD

Again, a positive consolidation tome on Tuesday (as also seen Monday), to also spike just above the 1.1173 res (to 1.1175) to further reinforce last Thursday’s surge above the peaks at 1.1176/83, to keep risks higher Wednesday.

  • We see an upside bias for 1.1173/75; break here aims for 1.1197/1.1200 and maybe 1.1223 and 1.1250.
  • But below 1.1128/24 opens risk down to 1.1101, possibly towards 1.1054.
by Steve Miley December 18, 2019
0 0

International Futures Note - Bulls have power

International Futures Note

Its Tuesday and the US markets hit new highs on Monday. At the moment Europe is mixed and Asia is green. We still observe the bullish sentiment around the globe and for now, it remains powerful. We are slowly coming into the Christmas and New Year week and volatility might slow-down a little. Many traders do not trade next week or are very light in their positions so make sure you adapt.

(https://money.cnn.com/data/world_markets/europe/)

US Market Comments:

S&P Futures continued their move to the upside tapping resistance at a psychological level of 3200. Yesterday highs at 3202.50 and current session highs at 3202.25. We are trading in the higher range of yesterday and there is no reason to be thinking of shorts now. As soon as we are trading on 3177 mark, which is this week low – bulls have power. Next support 3158ish.

S&P Futures:

FTSE closed strong tapping 7550. It is holding the upper range with current session lows near 7500. I would love to see a sideways action for a few days with a flag type of pattern to continue its trend to the upside. Major supports at 7450s.

 

DAX shows some relative weakness versus the FTSE and the US Market. Currently it is trading under yesterday lows and next support level is 13300. We have to stay on 13252, which is Friday low to keep bulls active.

GC (Gold futures) is having a divergence vs the market. Usually when we hit new highs, gold is not holding its previous pivots and shows weakness, here we can observe that there might be an accumulation before we breakout the major resistance line. Id wait for a volume confimed breakout of 1491.6 or consider having small positions with stops under 1463.

CL (Crude Light Sweet) is trading in the upper range of the channel and shows some bullish sentiment. Tomorrow we have Oil news that might shake a bit the tree if the numbers come out at an unexpected levels. Id stay away from crude for now and wait till we start a new trading year. Local support 59.30s.

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 Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari December 17, 2019
0 4

GBPAUD - Update

GBPAUD

Good day traders! GBP/AUD had a decent push higher since price reversed from my support zone early last month. Price reached my target level at 1.9488 but fell short of my upper channel and red warning lines which currently lies between 1.9633 – 2.000.

I would expect price to be drawn towards that zone before strong resistance sets in. Swing trading GBP/AUD to the downside might be a possibility but I would like to see a reversal pattern from within that zone on a weekly timeframe first.

Until next time, happy and safe trading!

Regards

Richard Krugel

by Richard Krugel December 17, 2019
1 3

S&P 500 - Day trade outlook: Bull shift reinforced

S&P 500

A Monday advance to another new record high for the broad, US benchmark index, the S&P 500, to build on the Thursday-Friday surge through the prior record high at 3158.0 (for an intermediate-term bullish shift), having held at our new support established at 3159/55, to keep risks higher for Tuesday.

  • We see an upside bias for the new cycle high at 3202.5; break here aims towards 3215.75, maybe 3229.5.
  • But below 3184/81 opens risk down 3159/55, maybe 3137.25.
by Steve Miley December 17, 2019
0 1

Market Comments - Positive Note Continues

Market Comments

On Monday the 16th of December we are seeing green arrows around the globe. Optimism continues as we are slowly heading into Christmas period. FTSE is leading the momentum move, Asia is mixed, US is flat for now. Fundamentally we are having a block of news on Tuesday, Wednesday and Thursday as main volatility events.

(https://money.cnn.com/data/world_markets/europe/)

US Market Comments:

S&P Futures are holding the recent pivot 3158ish. Currently we are trading in the upper range of the Friday. Short-term resistance 3188.25 as being the Friday high and the regional support pivot is at 3160ish. As soon as we hold previous lows we are good to go sideways or higher. For now no fundamentals or technicals are suggesting a move lower from here. SMH, XLF, IBB sectors are slowing down but not showing a reversal. Its good to hold lighter positions here.

S&P Futures:

FTSE extremely bullish action. It broke the resistance at 7448 and now is trading around 7500. I would definitely see If 7450s holds and then we can talk about a move to 7650s-7700. Current supports 7430-7450s.

DAX closed weak on Friday but now it gapped in the middle of the Friday session and holding. Consider to trade against 13423 which is last week highs. Next pivot at all time highs at 13596. See if a pull-back may occur if the US markets become slow.

GC (Gold futures) Didn’t move lower on Friday and bounced back. The range is getting tighter and it may be a sign that the market reached its short term top or at least Gold becomes a more interesting play for the end of the month into January. Options are a way to play the setup but make sure timing and strikes are adjusted to the chart. 1491.6 is the local high to be taken out before we can go higher + we are having a series of higher lows 1446, 1449, 1463.

CL (Crude Light Sweet) holding the technical resistance of the channel. The psycho mark 60.00 didn’t play an important role for now. The price did a back-test to the broken blue resistance and bounced on 60.00 mark. Support pivot at 59.30 as its being the low for Friday and the current session.

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Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari December 16, 2019
0 0

NZDCHF - Looking for reversal lower

NZDCHF

Good day traders! NZD/CHF found support at the lower median lines of two different pitchforks in August this year and traded higher.

Price entered a potential zone of resistance last week that lies between 0.6514 – 0.6605 and I’m expecting a reversal lower soon. Last week’s high nearly reached the upper red warning line of my upward sloping pitchfork and price might still be drawn towards that line which currently resides at 0.6565.

Above the warning line, we have a 0.382% Fib retracement level at 0.6605 which could also act as resistance should price go higher.

When a reversal does occur, then price could trade towards the 0.6403 to 0.6350 levels or lower. A strong decline will allow me to use a downward sloping pitchfork which will better define my targets and I will provide updates on this currency pair when and if that happens.

Until next time, happy and safe trading!

Regards

Richard Krugel

by Richard Krugel December 16, 2019
0 1

NZDUSD - day trade outlook: Bull theme intact

NZDUSD

A Friday rally to another new cycle high above .6622 resistance to .6636, to build on; Thursday’s advance above key .6591, Wednesday’s dip and a bounce from just above .6517 support (from 6518), plus the early December surge through the key .6466 peak (signalling an intermediate-term bull shift), and despite an intraday dip lower, whilst above .6570 we see the threat higher into Monday.

  • We see an upside bias for .6619; break here aims for .6636 and maybe .6643.
  • But below .6570 aims for .6548 and maybe opens risk down to .6518/17.
by Steve Miley December 16, 2019
0 1

Market Comments - News Storm All Around the Globe

Market Comments

Friday and we are seeing only positive news all around the globe. The markets are aiming higher as China/US deal got confirmed, UK elections are gone and it seems like optimism is embracing the world.

US Market Comments:

S&P Futures rocketed on the news China and US are signing the deal. The mid term flag formation confirmed its breakout and we saw a nice continuation with new all time highs on the SPY. SMH sector just skyrocketed and some of the China related sectors and stocks also showed extremely bullish sentiment. Current session highs at 3188.25 and local support at 3158 as previous pivot high that was broken. As soon as we’re trading on the 3137 which is yesterday low, we re good.

S&P Futures:

FTSE broke 7256 with power on election news and today is trading a lot higher (+1.6%). Some resistance at 7450s as a point of reference. Probably this pivot might be taken out next week if the markets want that. On the macro level we ‘re still In the flat zone between 7450 and 7100. Current session highs at 7418.

DAX closed bullish yesterday and opened with a nice gap today. Its retracing a bit. It can back-test the 13300 levels as a small pullback from the highs. The green arrow noted a few days ago gave you clues on a potential upside so congrats if you took a calculated trade into this move. As we discussed earlier, short term support (lower green trend line) breakouts with immediate pullback into the channel are a sign of power.

GC (Gold futures) Interesting how things allighed with the trendlines and other markets. Meaning they are all connected and technicals have value even for heavy traded instruments like indices futures and gold. Resistance noted earlier with descending trendline gave you clues that sellers might step in at 1490 levels.

CL (Crude Light Sweet) touched 60.01 for now. Yesterday it closed green for the day giving us an idea that potentially, buyers are stronger. Also note the blue resistance line that was broken for now. It might be a sign for bulls. Supports at 58ish for now.

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 Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari December 13, 2019
0 4

AUDCHF - Bullish Bias

AUDCHF

Good day traders! The AUD/CHF currency pair is currently retracing higher within a larger bearish phase. This year’s August lows found support at a downward sloping channel line after which price retraced back to a previous level of support that turned into resistance at 0.6875.

Last month’s high was rejected from that level, but price found support at the center channel line and is currently heading towards November’s highs again.

AUDCHF Chart Daily 13122019

A breakout above the 0.6875 level could drive price towards the 0.6954 level and most likely make it to the 0.382% Fib retracement level at 0.6994/0.7000.

Until next time, have a great weekend!

Regards

Richard Krugel

by Richard Krugel December 13, 2019
0 2

FTSE 100 - Risks higher

FTSE 100

A Thursday surge above 7253/56.5 and 7287/88 resistances to hit and stop at our 7309.5 target, and despite a dip back lower this morning still a very strong tone, to reinforce Tuesday’s aggressive selloff and then equally robust recovery off of 7136.5 (above the key recent swing low at 7129.5), to keep the bias higher for Friday.

  • We see an upside bias for 7309.5; break here aims for 7328 and 7356, maybe 7387.
  • But below 7241.5 opens risk down to 7194/90.
by Steve Miley December 13, 2019
0 1

Market Comments - The markets digested the FED as expected

Market Comments

Welcome back traders and investors. We have digested the FED meeting as expected and currently the markets are flattish. UK is leading Europe and ES futures are slightly higher. The following sessions might be slow ones but we shall see.

US Market Comments:

S&P Futures held the 3132 levels yesterday and tested the previous resistance around 3150s.We are in a slight slowdown as being just a little bit off the highs and hopefully Mr. Trump doesn’t tweet anything. Local supports at 3130s and next is 3137s. The current session may test a bit the waters of the previous level at 3132 but it is not the reason to become bearish as no technical pattern is confirming it at this moment.

S&P Futures:

FTSE broke the local pivot at 7256 and is retracing a bit. The new pivot held at 7128 and it is a point of reference for a week or so. Along with the trend line from lower levels, we might see a pattern forming to the upside but it’s not a blind long yet. UK markets are highly affected by politics and keep an eye on the news that are coming next week.

DAX closed strong after the bounce on Tuesday. That gave us clues that shorts may be trapped. At the moment we tested the local resistance at 13188 and bounced back. The trend remains unchanged and 13100 might be a pullback are where the buyers might step in. Also see how the US markets open to give some clues.

GC (Gold futures) is getting tighter and may be ready for a breakout. It think it needs a confirmation from the equity markets (a drop) to start breaking higher. Pivot of reference for support at 1470s and resistance at 1489.9. Consider only longs as the trend is showing improvements.

CL (Crude Light Sweet) sold off yesterday on news but rebounded. We are seeing a clear up trending channel that holds for now. Some resistance at 59.80-60.00. Supports around 58 and a flat move into the next week is expected if no unexpected news hit the street.

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 Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari December 12, 2019
0 3

EURCAD - More Downside Expected

EURCAD

Good day traders! EUR/CAD hasroken below a long-term trendline in August this year and is currently zigzagging higher in what could be a corrective pattern within a larger bearish phase.

The decline that started in March last year nearly reached the lower median line of a Schiff pitchfork and it currently seems that price is being drawn towards the center median line, which is a common occurrence.

The upwards move from the low back in October this year is contracting within a narrower range which is supportive of a bearish correction.

Price could still trade towards the 1.4753 level, or higher towards my center median line but a break below the lower green channel line and the 1.4598 level could signal the end of my proposed bearish pattern.

The next lower area of support will be my 50% dashed median line around 1.4533 and if price break below there, then we could see a move towards the October low at 1.4414.

Until next time, happy and safe trading!

Regards

Richard Krugel

by Richard Krugel December 12, 2019
0 2

USDJPY - Fed fails to break USDJPY from a range

USDJPY

A rebound failure Wednesday both pre- and post-Fed from below our 109.00 resistance, to maintain a negative consolidation theme evident this week and retain negative forces from the early December move down through the 108.78 swing support to keep the bias lower into Thursday.

  • We see a downside bias for 108.40/36; break here aims towards key 108.22 and maybe critical 107.87.
  • But above 109.00 opens risk up to 109.21, maybe 109.49.
by Steve Miley December 12, 2019
0 0

Market Comments - Wednesday FED Announcement

Market Comments

Good morning and welcome back to AskTraders.com. I hope everyone had their slow start this week and did not lose money. European markets are mixed in the morning and not showing aggressive directional move because of FED announcement anticipation. US markets flat for now.

US Market Comments:

S&P Futures had a nice bounce yesterday from the mentioned are 3117 and today we are showing a slow action for now. Mentioned levels of support and resistance just narrowed to S1 3117 and R1 3151. There is some talk on interest rate decision today but more important is the US – China agreement on Monday. A lot of If > Then scenarios and indecision is starting to gain momentum.

S&P Futures:

FTSE bounced off 7150s and now its flat. We did test 7250 but bears had some power. I have a feeling we wont go higher without testing 7100 or lower to blow some trader stops but we shall see. Id stay away from it for now.

DAX did bounce off its support area noted yesterday from 12927ish. Currently it is trading higher than yesterday prices. Now let us see if we get a follow through higher through 13200. The aggressive longs helped confirm the channel support trend-line power.

GC (Gold futures) is narrowing and becomes more and more tight. I do see there is some price digestion around 1465. It will definitely react to the news release of today. Supports around 1455-1460 / Resistance at 1490.

CL (Crude Light Sweet) didn’t show any volatility so far. Today news could trigger some speculative trades but at the moment its hard to say in which direction. Once it’s a rising channel you always want to have a trend approach and buy the lower range of the channel. That’s why at 56ish id consider some longs if the price shows a reversal setup on lower timeframes like 60M or 30M charts.

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 Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari December 11, 2019
0 2

EURGBP - Expecting a Corrective Bounce

EURGBP

Good day traders! EUR/GBP reached my long-term lower blue median line and a 0.382% Fib retracement level since my last update on the 20th of November.

A closer look at the decline that started from the 12th of August high also shows that price reached the lower red warning line of my downward sloping Schiff pitchfork.

With a confluence of all these lines at Mondays low, I would now expect a corrective phase to take hold. My longer-term bias remains bearish and if a bounce higher does occur, then I would start tracking such a correction to see whether another selling opportunity will present itself.

Until next time, happy and safe trading!

Regards

Richard Krugel

by Richard Krugel December 11, 2019
0 2

AUDUSD - Downside “fakeout”, looking for a bounce

AUDUSD

A small selloff Tuesday just below our initial support at .6809, but then rebounding from above the .6790 level (from .6797), for a fake breakout (fakeout), to hold onto positive forces from the early December advance (after the RBA Meeting, to .6862), to keep the bias higher into Wednesday.

  • We see an upside bias for .6839; break here aims for key .6865 and then maybe .6887/91.
  • But below .6797/90 opens risk down towards .6751/49.
by Steve Miley December 11, 2019
0 1

Market Comments - Europe slowing down, futures lower

Market Comments

Tuesday and one day before FED announcement. The Jobs report on Friday was good so optimism is in play. We’ve done a quick bounce after last weeks test of the lows and currently we are trying to balance. Europe is down a bit so lets take a closer look at the charts to plan our actions.

US Market Comments:

SPX futures closed down as an inside day yesterday and continued its drop through yesterday lows and the mentioned level 3132.50s to the next level we noted 3117 having the current low at 3116.25. The action has been quite technical and looks like we retraced around 50% of the bounce from the last week. Consider the fact that tomorrow is the FED announcement and on Monday is the China/US tariff deadline, as at least that is what traders are talking about. I would not be surprised if we see a test of 3110-3100 on the news announcements so chasing longs Is difficult and shorts could be squeezed easily. Cash is also a position so consider being light especially as we’re coming into the Christmas Holidays soon.

S&P Futures:

FTSE closed with a small shooting star on daily. Today it broke yesterday lows and tested the 7130s area. I would expect the test of the trend line as noted yesterday with a potential breakout failure of 7100. For now, I will just watch the action and see if the price movements confirm my thesis.

DAX didn’t do much yesterday but broke to the downside today. At current prices near 12925 is a local support area with the regional lows. At current highs near 13067.7 is resistance. If the US markets will tank, we will easily see 12600 in the nearest future but first 12800 Is the psychological point of reference.

GC (Gold futures) holds for now. In case of the market drop me may see some bullish action but current price levels don’t seem like a good area to go long. Technicals don’t show much at the moment so the buy area remains around 1450-1460.

CL (Crude Light Sweet) remains in the channel. Tomorrow we have Oil Inventories to be announced so that may shake the tree a little bit. I wont see a clear technical reason for initiating positions at the current prices. Wait till we get a more clear action. Consider 60.00 as level of reference on tomorrow news announcements.

Join our Telegram Chatroom to ask me questions| https://t.me/asktraders

 Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari December 10, 2019
0 2

U.S. Dollar Index (DXY) - Long-Term Outlook Remains Bullish

U.S. Dollar Index (DXY) Long term: Bullish

Good day traders! A “bigger picture” view of the U.S. Dollar Index on a weekly chart reveals that the low that formed last year February was supported by a confluence of a center channel line and lower median line of a pitchfork.

Price has since traded strongly to the upside and found resistance at the upper median line of the same pitchfork in September this year.

DXY has been trading higher within two well-defined channels since the high back in August last year. Price recently found support at my lower green channel line but could still trade as low as my lower purple channel line.

Conclusion

My expectation is for DXY to continue trading higher within those two channels, but it could be a long drawn out affair with price zigzagging upwards. Strong overhead resistance will come in at my upper blue median line, but a break above there could see price target this year’s September highs.

One thing to take note of is that this upwards fluctuating pattern could indicate some sort of topping formation that may eventually lead to a strong decline when it comes to an end.

Until next time, happy and safe trading!

Regards

Richard Krugel

by Richard Krugel December 10, 2019
0 2

DAX - Looking for a rebound

DAX

A Monday dip but holding above 13045/044 supports to retain upside pressures from Friday’s rebound from here, to retain upside pressures from last Wednesday’s strong recovery above various resistances, to keep the threat to the upside Tuesday.

  • We see an upside bias for 13190.5; break here aims for 13245/250 and 13338.5.
  • But below 13045/044 opens risk down towards 12992.5 and maybe 12924.
by Steve Miley December 10, 2019
0 0

Market Comments - Markets Stalled before the FED

Market Comments

Its ninth of December and the markets are flattish after a great run on Friday. We had very positive news on US Jobs and now looks like the participants are digesting the ranges. We are waiting for the FED on Wednesday this week and there are some news on Thursday as well. We believe that the markets will be slowly drifting before the interest rate announcement and might slide a little.

(https://money.cnn.com/data/world_markets/europe/)

US Market Comments:

The US markets have continued their rise after good job report on Friday. At the moment we are trading in the upper range of the Friday move. For short term traders 3132.50 should hold in order for the price to be able to attack the highs at 3158. If Friday move gets sold at a quick pace 3117 is the level to consider. I would expect a sideways action for a few sessions with last week range being tested before the last few weeks of the year. Friday highs at 3151.

S&P Futures

FTSE held the 7150 with a nice move higher with the US market. Now it’s a local support zone. I do see no setup at the current levels but stay aware of the 7100-7150 area in case we reach it in the next 3-4 sessions. We will have to watch closely the action in that area as it might signify a bullish or a bearish one and we’re here not to predict, but to observe and react.

DAX remains in a tighter range and closed as an inside bar on Friday. Currently It has tested Friday highs a pulled back a little. We are seeing a trend line forming on it, lets see if we get a third touch of it and if buyers will step in. In the case bull react, there might be a long setup Watch 13040-13050 for clues.

GC (Gold futures) got sold on the SPX move higher. That’s why we’re always reminding to use stops and don’t chase the trade if you missed the exact entries. That will help you stay in the game long enough to make $. Currently 1460 is a point of reference along with the trendline that is holding for now. Id consider 1450-1460 as an area to look for a bullish reaction.

CL (Crude Light Sweet) had a reaction towards the 60 level having a high at 59.82 on Friday and almost hitting the resistance line of the up-trending small channel is has been for two months. Hard to trade  it now and patience is key here. I don’t see any specific technical setups here so I will just keep an eye on it for this week. Supports near 56.

Join our Telegram Chatroom to ask me questions| https://t.me/asktraders

 Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari December 9, 2019
0 3

GBPCHF - Waiting for reversal lower

GBPCHF

Good day traders! GBP/CHF has finally made it into the 1.3000 – 1.3100 price zone that I identified more than a month ago and I think that the time is ripe for a correction lower.

I would ideally like to see price interact with the upper red warning line of my pitchfork, followed by a reversal candlestick pattern to confirm the start of my proposed correction.

If a reversal lower does materialize, then price has the potential to trade towards the 1.2740 and 1.2537 levels.

Until next time, happy and safe trading!

Regards

Richard Krugel

by Richard Krugel December 9, 2019
0 4

USDCAD - Just aiming back lower, despite rebound

USDCAD

A Friday rally after the US and Canadian Employment reports through resistances but to stall at the 1.3278 level (at 1.3270), to hang onto negative pressures from Thursday’s probe through key 1.3186/76 supports after Wednesday’s plunge after the Bank of Canada interest rate decision through a notable support at 1.3251 for a Double Top pattern, to just keep risks lower for Monday.

  • We see a downside bias for 1.3259; break here aims for 1.3203/00 and maybe 1.3168 and 1.3154/53.
  • But above 1.3270/78 opens risk up to key 1.3328.
by Steve Miley December 9, 2019
0 2

Market Comments - NFP day to decide next week trends

Market Comments

Finally it’s Friday the 6th of December. The markets are feeling green all over the world. Optimism is on. It wasn’t the easiest week with moves back and forth but we have to stay disciplined in order to maintain our account balance and make some little tweaks to adapt.

(https://money.cnn.com/data/world_markets/europe/)

US Market Comments:

Despite the mixed news on the US/China deal and overall market sentiment, the US economy is feeling well. All dips are bought and for now, we are waiting for NFP announcement. Not like, it will change the trend in a matter of seconds but it may give us a sentiment and a roadmap for the next week action. Current session high 3127, some resistance around 3130s. Yesterday low at 3103 as a reference for the bears.

S&P Futures

FTSE squeezed the shorts around 7135 and now its back to 7200 area. As expected the lower support line is playing its role, lets see if the algos will try kick the longs by touching the supports and coming back in. As the longer term triangle gets tighter, double side action might happen. We must align it with the overall market state in the US and other regions for the setup to have a decent follow-through.

DAX got sold yesterday from 13180s levels, at the moment trading near the lower bottom area of yesterday range. Doesn’t seem like its ready to go higher from here. A few days of rest and a pullback to 13000 might be needed. It may for a higher low on 12927ish and then the real action could start the party.

GC (Gold futures) ranging for now with the local resistance pivot 1489.9. I believe it might form a higher low and try break the resisstance trendline but we shall see. For now if you’re net money, its better to hold a part and cover a part.

CL (Crude Light Sweet) has been slowly grinding in an uptrending channel. We’ve decided to include it as people might be interested in the instrument. Its purely speculative and Oil contracts barely make it to the actual delivery date. Yesterday highs at 59.09 and local reversal pivot at 55.06. Its not doing much at the moment, lets see if it holds 58 and build a flag type or setup. Around 60.00 is a psychological level that traders will be watching.

Join our Telegram Chatroom to ask me questions| https://t.me/asktraders

 Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari December 6, 2019
0 2

EURNZD - Approaching Support

EURNZD

Good day traders! The EUR/NZD currency pair has reached my lower target objective at 1.7001 since my previous update on the 6th of November.

The high that came in on the 16th of October formed at two different intersecting center channel lines and there is a possibility that price may go even lower towards my lower green channel line and a 0.786% Fib retracement level before support steps in.

If you look back at a couple of years of price action in the EUR/NZD, then you will notice that many tops and bottoms are V-shaped, meaning that there are sharp reversals everywhere. I will not be surprised if we get a corrective move higher soon, but my long-term bias on this pair remains bearish.

Until next time, have a great weekend!

Regards

Richard Krugel

by Richard Krugel December 6, 2019
1 3

FTSE100 - Threat back to the downside

FTSE100

A reversal back lower Thursday below the low at 7132.5, to reject and undo Wednesday’s solid bounce from here, to resume negative forces from the aggressive Monday-Tuesday plunge through key 7191 (to shift the intermediate-term outlook from bullish to neutral, range now 7108.5 to 7442), to switch the bias back lower for Friday.

  • We see a downside bias for 7129.5 and 7122.5; break here aims for key 7108.5 and maybe 7086.
  • But above 7168/70 opens risk up to 7202.5 and even 7233/35.
by Steve Miley December 6, 2019
0 0

Market Comments - Two way action

Market Comments

Thursday 5th of December. Its getting colder but the markets remain optimistic. We don’t have any important news to be released today. Europe just opened an hour ago and CAC40 is leading the region. DAX is flat for now and FTSE is inside previous day range. Looks like the markets took a pause before NFP that is going to be released tomorrow.

(https://money.cnn.com/data/world_markets/europe/)

 

 

 

US Market Comments:

Quite an expected pullback yesterday in the US Markets. We still remained in the previous days range. The low remains the same 3069.50 and the high at 3121. No significant fundamentals to push the market either way. If we go higher, we should be aware of the fact that we need some more fuel to continue the rise at an aggressive pace. It’s a good period to stay lighter with your trades and portfolios and also have trade setups both ways, long and short.

S&P Futures

FTSE is consolidating near 7150 levels. There is a lot less volatility these days. The price is approaching the trend line there might be some action near 7100 levels.

DAX had a nice rise yesterday and is trading in the upper range of the previous range. The volatility decreased before NFP and overall DAX looks bullish. Important levels to consider within this range are 13338 as resistance and 12927 as support. I would like to give it some time to settle before any action takes place. No shorts or longs at the moment.

GC (Gold futures) looks good and as soon as we’re holding 1475 we might see a move higher past the resistance. Interesting how channels can predict support and resistance even after months have passed. Looks like algos are reading the market quite strategically. If you bought around 1460 and covered some near 1490, you’re good.

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 Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari December 5, 2019
0 4

EURUSD - Intermediate-term bull shift above key 1.1097

EURUSD

A Wednesday spike above key 1.1097 to signal an intermediate-term bullish shift and despite an intraday setback, whilst above 1.1053/51 to keep risks higher for Thursday.

  • We see an upside bias for 1.1090/92; break here aims for 1.1116, maybe 1.1140.
  • But below 1.1053/51 opens risk down to 1.10010 and maybe key 1.0980.
by Steve Miley December 5, 2019
0 0

GBPUSD - Approaching Strong Resistance

GBPUSD Bullish

Good day traders! The GBP/USD currency pair has enjoyed a strong bullish run from the 3rd of September 2019 low, but price is currently approaching strong resistance levels that could halt this incline soon.

Price is currently trading slightly below my blue long-term center median line (1.3181) and a 50% Fib retracement level (1.3167) where I expect resistance to step in.

The bullish phase from the 3rd of September low can also be counted as 3 waves higher, with the last 5th wave possibly coming to an end soon.

A strong break above those resistance levels, on the other hand, could drive price even higher towards the previous high located at 1.3380 with a 0.618% Fib retracement located slightly above there.

Either way, I do expect a retracement lower at some stage or even a top that will end this bullish phase.

Until next time, happy and safe trading!

Regards

Richard Krugel

by Richard Krugel December 5, 2019
0 2

VIX - Selling out hedges

VIX

We have seen some rather extreme price movement over past 48 hours.

My take for the past month has been to start accumulating protection, mainly via long VIX positions, but also via other types of hedges. The entire month of November was basically a slow dripping torture for people long premium. Theta bleed has been awful for most, but to be honest the SPX did move to the upside, providing some gamma hedging to meet the theta “checks”.

The hedge was mainly as an overall insurance for the overall portfolio as premium had gotten so incredibly cheap. Lows in VIX only a few days ago were in the 11.6 area. VIX sub 12 is usually not expensive if you have a bit of staying power.

VIX spiked from sub 12 to almost 18 in a few days. We have seen even more extreme moves, but this is a big move. Unless there is a “paradigm” shift, spikes in VIX like this one usually tends to revert.

Headline risk around the China/US deal or no deal continues to be a hard risk to manage. VIX at these levels has produced a very nice gain and I have been selling out protection hedges. VIX at these levels is not cheap nor expensive.

I have flattened out VIX longs and will wait for better opportunities in the volatility world.

by Aleksandar Adamovic December 4, 2019
0 1

Market Comments - Market bounce to equilibrium

Market Comments

Its Wednesday and we are having a block of preliminary news to monitor. Unemployment preliminary data on the US and Manufacturing along with Crude Inventories might shake the tree a bit. Europe is considerably higher and US is no longer in red territory. We bounced off yesterday lows and looks like the market is showing some equilibrium.

(https://money.cnn.com/data/world_markets/europe/)

US Market Comments:

After an aggressive sell-off yesterday of the major indices the ETFs $SPY $QQQ $DIA $IWM closed green with tech leading the bounce. There is unemployment data on Friday and its just the middle of the week. I would consider the new range to be a territory where we can settle for a few days if not weeks.

S&P Futures

 

FTSE continued its drop yesterday setting a low at 7133. Current session low is 7134, which means that the buyers are starting to gain some power. As noted from the previous posts the area near 7150s might become supportive as we have the trend line giving some credibility. I would wait for a reaction and a possible break of the trend line with a reaction after.

DAX showed relative strength yesterday. I don’t see its technical enough to be interesting for a trade, looks like the US and UK traders control the volumes better and DAX is just a playground. It may try form a bull flag with a potential continuation higher but that might require more time. At the moment we’re ranging between the local 13338 as resistance and 12927 as support.

GC (Gold futures) broke the noted pivot 1479 and today had a high at 14899 for now. Its near the resistance and as I noted before 1490s is a good level to cover a part of the position. Stops at breakeven now, lets see if we have some sideways action and break the big bullish flag to the upside.

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 Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari December 4, 2019
1 3

CADJPY - More Downside Expected

CADJPY

Good day traders! CAD/JPY bounced higher, as expected, after reaching my lower median line (see my 21st of November update). Price eventually retraced all the way back to my shorter-term upper median line and longer-term center median line and reversed lower again on the 2nd of December.

Price is currently trading at my short-term center median line and I would expect a drop towards the 81.00 price level or even lower to 80.43 if price trades below yesterday’s low at 81.51.

Note: The price structure from the October high is starting to look corrective to me, meaning that although I’m expecting lower prices that I don’t think CAD/JPY will challenge the 25th of August low. That being said, anything can happen, and only time will tell but for now my bias remains bearish over the short-term.

Until next time, happy and safe trading!

Regards

Richard Krugel

by Richard Krugel December 4, 2019
0 1

DAX - Downside threats

DAX

A Tuesday probe lower through 12948/942 supports to reinforce Monday’s plunge through multiple supports including key 13040.5 (for a Double Top type chart pattern for an intermediate-term shift from bullish to neutral), to keep the threat lower Wednesday.

  • We see a downside bias for 12924; break here aims for 12888.5 and 12845.5, maybe key 12786.5.
  • But above 13086 opens risk up to 13100/105 and maybe 13170/177.
by Steve Miley December 4, 2019
0 1

Market Comments - Profit taking or beginning or a correction?

Market Comments

Tuesday 3rd of December and we see some bearish pressure. Yesterday we had a breather in the US Futures and now we are trading lower. This is not very good for bulls but lets see what are we heading next. Some of the positions went to zero and now its time to re-evaluate.

Europe is mixed, Asia also showing mixed market sentiment.

(https://money.cnn.com/data/world_markets/europe/)

US Market Comments:

The US market was under the bear pressure yesterday. Looks like happened that everyone was waiting for. The market was sold with tech and DJI leading the drop (technically). Currently we are trading around 3105ish and yesterday low is at 3110 that may serve as a resistance for now. Next spot on the US Futures is the local pivot at 3090 and if we test it and close below 21EMA we may have see some trouble in the nearest future. Maybe its time to consider some short setups.

S&P Futures

 

FTSE Very nice follow-through to the downside from the resistance zone noted last week at 7440 and 7450s. At the moment we are looking to settle around 7200. Some supports near 7140/50s. I would avoid it for now and/or cover some of the position if you shorted at the resistance.

DAX continued its drop in the US session and closed very weak. Currently it is trading inside yesterday range showing some indecision. It may test yesterday low at 12954.5 and bounce off it today but we shall see. It is a new week/month and some steam has to be released. I would stay focused and flexible on both longs and shorts depending on the market structure and US equity market moves.

GC (Gold futures) tested 1460s and is going higher as expected. Fear of the stock market meltdown might have pushed gold bulls to take action. At the moment it seems to be a good setup that has to be confirmed by a good strong close above 1480s with a potential first target around 1490s. I would consider stops just under 1460s if you have a position.

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 Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari December 3, 2019
0 1

CADCHF - Final Phase of Symmetrical Triangle?

CADCHF

Good day traders! CAD/CHF might finally be nearing the end of a long-term Symmetrical Triangle. The last time I reviewed this trade idea was on the 1st of November and I recently thought that my proposed E-wave may have completed already.

Yesterday’s sell-off may be the start of the final leg lower, but I would like to see a zigzag formation that moves lower into the 0.7345 – 0.7407 region, rather than a fast drop.

If price moves that low and reverses higher, then potential upside targets could be set at 0.7550 and 0.7628.

Until next time, happy and safe trading!

Regards

Richard Krugel

by Richard Krugel December 3, 2019
0 3

GBPUSD - Bias stays higher

GBPUSD

A Monday consolidation after Friday’s dip just below 1.2882 support but to rebound quickly from 1.2879, to retain upside pressures from last Wednesday’s push above 1.2912 and 1.2928 resistances, to keep risks higher for Tuesday.

  • We see an upside bias for 1.2950/51; break here aims for 1.2970 and 1.298, maybe even key 1.3013.
  • But below 1.2882/79 opens risk down to 1.2827/23.
by Steve Miley December 3, 2019
0 2

Market Comments - Into the Winter at new All Time Highs

Market Comments

Monday the 2nd and we have a new All Time High in S&P futures. The trade tensions are getting lighter and optimism is increasing for now. Europe is higher with only CAC40 being a laggard.

US Market Comments:

Black Friday in the US went well and optimism is back pushed by good news on US China deal. SP500 futures made a new high this morning at 3158 and retraced a bit. Current support levels area near 3140s which is a point of reference and probably some traders placed their stops there. Will not be surprised if we test these levels in the nearest sessions. We are already far with the trend and some back and fourth action may take place soon. Maybe December some of the big investors will want to take some profits to show a decent performance for the year. Also note the previous pivot at 3132.50.

S&P Futures

FTSE is retracing from the resistance zone noted between 7450-7440. Local pivot high is 7448 and the low is at 7200. The trend line also shows us some potential support at 7250 but the weeklies show us a range. Id limit my exposure to this instrument or take only short-term trades’ intra-day.

 

DAX seems like it has some pressure on the resistance line of the H&S pattern on the daily chart. Bears stepped in near 13314 and now lets see if we hold Friday low which is 13165. If we break it and close lower the support, that might signify a short term trend change.

GC (Gold futures) is holding 1460s and for now it’s a point of reference. Even If we break it to the downside, we have to wait for the reaction near the trendline around 1450s if it occurs. Thursday 1473 is a short term resistance with the next pivot at 1479. Check the ETF as a clue as it may be confirming the setup.

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 Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari December 2, 2019
0 2

EURCHF - More Upside Expected

EURCHF

Good day traders! The EUR/CHF currency pair managed to break above my long-term Schiff pitchfork’s center median line (blue pitchfork). Price is now trading at a 0.786% Fib retracement level, measured from the 28th of October high to the 14th of November low.

A break above today’s high at 1.1027 could see price target the previous high at 1.1058 before some more serious resistance steps in. There is also a confluence of both my upper median line (green pitchfork) and a 0.382% Fib retracement level, right at that high which could be drawing price upwards.

Conclusion

My bias remains bullish, but price will have to overcome the resistance levels at the 28th of October high. A clear break above there could see price eventually trading towards the 50% Fib retracement level and my upper red warning line, which lies between 1.1143 – 1.1168.

Until next time, happy and safe trading!

Regards

Richard Krugel

by Richard Krugel December 2, 2019
0 6

S&P 500 - Aiming for a rebound and the recent record high

S&P 500

A resilient digestion Friday during the holiday shortened session to rebound from the bottom of our 3141/39 support area and push higher again overnight/ this morning, to retain the positive tone from last Wednesday’s new record peak (at 3155.0), still building on the latter November bull gap at 3116.5-14.5 and whilst holding above 3141/39 to keep risks higher for Monday.

  • We see an upside bias for the new record peak at 3155.0; break here aims for 3161.25, maybe 3176.0.
  • But below 3141/39 aims for 3128.0 and then opens risk down to the bull gap at 3116.5-14.5.
by Steve Miley December 2, 2019
0 3

Market Comments - The Friday before winter starts

Market Comments

Its Friday 29th of November. Last trading day of Autumn. Europe is feeling good, although it had a gap down. CAC40 is leading the run with DAX and FTSE catching up.

(https://money.cnn.com/data/world_markets/europe/)

US Market Comments:

The market was closed yesterday and the futures was trading in a range between 3150s and 3140s. Nothing major happened, low volatility, low volume. Most of the market participants are having a long weekend break and will be back on Monday. As you may notice in the charts, we are trying to see some triangle forming on the hourly charts but don’t get fooled as this setup in the current circumstances may be a misleading one.

S&P Futures

 

FTSE as you can see, did the expected and bounced off 7370/60 area and trading at 7400 mark at the moment. Good if you bought some in the lower range, lets see how things progress.

 

DAX had a gap down and tries to push to 13250 area. I may notice an interesting pattern Head and Shoulders pattern here. Now we have to make sure that 13300 is showing resistance and 13250 is the first stop for the sellers to step in.

GC (Gold futures) start to look more ppealing to me. Supports in the 1450-1460 area. On the 4H charts its more clear to see the swing points. A pullback to 1460s and a price reaction to the level might be a good signal for buyers. Stops under the daily pivot but that’s just an assumption. See how the market reacts overall as we want some confirmation from the US traders as being the most heavy ones.

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 Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari November 29, 2019
0 0

XAG/USD (Silver) - More downside expected

XAG/USD (Silver)

Good day traders! Silver continues trading lower after the September high that ended right at the upper red warning line of my Schiff pitchfork (red arrow).

I’m cautiously viewing the price structure from the September high as corrective and feel that there is more downside potential before price will find decent support. Assuming that we are looking at a corrective pattern, then price might continue fluctuating within the green channel on my chart.

Silver could potentially trade higher soon, within the larger corrective phase, but price would need to break above the 17.11 level to confirm that. Overhead resistance might come in between 17.50 – 17.70 if price is drawn back to my center median line.

Alternatively, a move lower towards my center channel line could see price find support between the 16.15 – 16.35 price levels where a 0.618% Fib retracement, previous high (16.18) and my lower blue median line reside.

Conclusion

I’m expecting this whole corrective pattern to be a drawn-out affair which could take quite some time to complete. If you glance back at Silver’s historical price action, then you will see that price has mostly been stuck within sideways consolidation phases, with short trending periods.

Until next time, happy and safe trading!

Regards

Richard Krugel

by Richard Krugel November 29, 2019
0 2

DAX Future - Bias just higher

DAX Future

A Thursday dip just below 13214 support to then rebound quickly from 13209.5, to leave a positive tone from Wednesday’s prod just above 13315 resistance to 13315.5, to further reject negative forces from the latter November plunge (through 13132/133.5 and 13103.5 supports), and despite an overnight setback, whilst above 13188.5 to keep risks to the upside Friday.

  • We see an upside bias for 13315.5/330; break here aims for 13374, maybe towards 13415/420.
  • But below 13188.5 opens risk down to 13105.5/100 and maybe key 13040.5.
by Steve Miley November 29, 2019
0 1

Market Comments - Testing short terms supports – Thanksgivings Day

Market Comments

Thursday and its Thanksgivings Day in the US. 7:30 am NY time and lets look at the global markets. Germany is leading the European drop and Shanghai Composite is leading the Asia session one. US Markets closed.

(https://money.cnn.com/data/world_markets/europe/)

US Market Comments:

Great move yesterday has made the major indices hit new highs. Our stock portfolio approach worked very well for the past few weeks and I hope you made money, if not, the market is still there next week and next quarter and next year. Learning and researching the charts is something we have to do on a daily basis. If we lose grip, its hard to come back. Like In sports, the trading loves consistency.

S&P500 Futures hit 3155 and retraced back trading around 3150s at the moment. Resistance will be updated to 3155 as a point of reference and

FTSE as was expected, a small correction from the resistance zone was in place. The area in 7440-7450 was a point of reference for sellers or a place to cover for buyers. For now, let us see if we hold 7350/60 area for the breakout to become valid.

DAX is trading around 13240 now. Let us see if 13200 will hold for a few days, maybe we see a continuation into highs of the year, which are 13600. For now, the 8EMA holds and looks like we might see some action into the next few sessions.

 

GC (Gold futures) remain heavy. I would avoid it for now but it should be on the watchlist. If something happens and the market will try a move for a deeper correction, you should know your levels as gold may bounce for a few days. Current pivots to watch for a breakout = 1470s.

Happy Thanksgiving everyone and have a great day!

Join our Telegram Chatroom to ask me questions| https://t.me/asktraders

 Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari November 28, 2019
0 0

NZDJPY - Waiting for Reversal Lower

NZDJPY

Good day traders! NZD/JPY finally made it into the price zone that I first identified on the 31st of October. It has been a long wait, but price is now within the sweet spot where I’m expecting a reversal lower.

Ideally, I would like to see price interact with the upper blue median line of my Schiff pitchfork first, which currently lies around 70.54, followed by a reversal candlestick formation on my Daily chart (similar to the red arrows at previous highs). Also, note that a 0.618% Fib retracement level lies slightly above there at 70.59.

A more conservative approach will be to wait for price to reverse from within my price zone and trade back into that previous range. A break below the 69.68 level will be a good indication that a top might be in place with lower targets at 68.99 and 67.16.

Note: If price does not reverse lower and trades above the 71.00 level, then my trade idea will be invalidated.

Until next time, happy and safe trading!

Regards

Richard Krugel

by Richard Krugel November 28, 2019
0 1

USDCAD - Bias still higher

USDCAD

A positive Wednesday consolidation to dismiss the negative consolidation Tuesday, to still retain the positivity from the strong latter November rally (through 1.3252 and 1.3270/71 resistances), to keep risks to the upside Thursday.

  • We see an upside bias for 1.3328; break here quickly aims for key 1.3348 and opens risks up towards significant 1.3383.
  • But below 1.3251 opens risk down to 1.3228.
by Steve Miley November 28, 2019
0 0

Market Comments - Trend is your friend

Market Comments

Wednesday, almost 8am in NY and we are seeing green arrows around the world. China/US trade optimism gives some steam into the markets and we continue to hold Long Only positions. There are Pending Home Sales and Oil Inventories at 10am NY time that might shake a bit the tree. Lets dig more into the charts.

(https://money.cnn.com/data/world_markets/europe/)

US Market Comments:

The trend continues with major indices showing slow steady growth. Only $IWM took a small break after new local highs yesterday. $SMH and $IBB also closed with a light drop yesterday. No reason to short but do cover some of the positions into the new highs in order to be able to buy the corrections.

S&P500 Futures finally hit 3150s and now retraced a little bit. Local supports at 3132s and resistance for now remains 3150. As tomorrow is Thanksgivings and many traders a taking a long weekend, I do not expect much happening today after the lunch. I’ll stay light and monitor my positions currently being invested just under 50%.

FTSE going higher and optimism rises. I still don’t think it’s a clean trend-line breakout but its not about what you think, but about how the market reacts. I don’t see any reasons to trigger mid-term buys on the FTSE and I just leave it for now. Levels to maintain focus remain the same. 7400-7450 range

DAX remains in the range and might between 13300 and 13050s. Its near ATH and doesn’t look bad. I would not initiate longs here but definitely there is no reason to short. Wait for the levels to start pushing the price or a technical pattern to appear.

 

GC (Gold futures) bounce off 1450s and might be a local double bottom with some buyers coming in. There is a short term falling wedge on H4 charts that is also visible on Daily if you look closer. Id like to see more reasons for the trade to confirm and considering we are in the upcoming holidays with a long weekend to go, just watch the price.

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 Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari November 27, 2019
0 3

Russel 2000 (RUT) - Approaching overhead resistance

Russel 2000 (RUT)

Good day traders! The Russell 2000 Index (RUT) finally managed to break above the high that was set on the 6th of May this year. Price is currently approaching a 0.786% Fib retracement level, measured from last year’s August high to the December low.

The first area of resistance, that price might react to, lies between 1640.40 and 1655.93 (a 1.382 Fib extension level). The upwards move, from the 3rd of October, is also starting to lose steam with momentum divergence showing on a MACD-Histogram.

Conclusion

RUT does have the potential to eventually make new all-time highs, but I will not be surprised if we see a correction lower sooner than later. If price, however, manages to trade above the first resistance area with decent momentum, then the second area of resistance lies between 1689.01 – 1712.56.

Until next time, happy and safe trading!

Regards

Richard Krugel

by Richard Krugel November 27, 2019
0 5

S&P 500 E-mini Future - Another new record high

S&P 500 E-mini Future

A strong advance overnight Monday-Tuesday to spike above the recent record high at 3132.5 to a new all-time peak (at 3145.0) then a dip and a rebound for another prod higher last night to 3146.5, driven by Monday’s bull gap 3116.5-14.5 (to overcome 3124/25 resistance), to keep risks higher for Wednesday.

  • We see an upside bias for the new record peak at 3146.5 and 3150.0; break here aims for 3161.25, maybe 3176.0.
  • But below 3128.0 aims for the bull gap at 3116.5-14.5 and then opens risk down to 3097.75 and maybe even 3090.75.
by Steve Miley November 27, 2019
0 4

Market Comments - Asian session market spike

Market Comments

Its Tuesday and the US futures made a new highs in the Asia session. At the moment bounced back to the open levels. Europe and Asia is mixed and we waiting for Consumer Confidence and New Home Sales numbers at 10AM NY time.

(https://money.cnn.com/data/world_markets/europe/)

US Market Comments:

Indices have shown rotation for the past session with small cap, industrials on the move. Also consider the IBB (biotech sector) that has been on an uptrend. SMH (semiconductors) remain strong with MU being on the winners. As we are heading into the holiday end of the week, I would consider managing current positions and setting only intra-day trades mostly. Overnight exposure and volatility these days can be a double edge sword.

FTSE Broke its resistance line and at the moment we are in a resistance zone we have mentioned earlier. For now its important to see reaction before considering a new trade. If it’s a true breakout, wait for a pullback and a back-test of the previous levels around 7350s with a quick bounce back. We can also stay in a small range for a few days and then try break the 7450s. There is no clear trend and the instrument is highly speculative due to the political situation in the UK.

DAX remains in the range and might

 

S&P500 Futures currently trading at 3132 and daily charts don’t shot any clear pattern yet. Resistance is at Asia session highs around 3145ish and supports for the current session are near 3130s. Depending where the price would settle, we will chose the appropriate market approach towards our trades. Cash position now around 60%.

GC (Gold futures) broke 1455ish and its dead. Very little reaction to the levels and I would avoid it as noted in the previous note.

Avoid for now.

Join our Telegram Chatroom to ask me questions| https://t.me/asktraders

 Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari November 26, 2019
0 3

GBPJPY - Bearish Bias

GBPJPY

Good day traders! The rally from this year’s August/September double bottom has retraced 50% of the previous bearish cycle that started in February last year.

Price was knocked sideways after it reached my upper red warning line (red arrow) on the 17th of October. Last week’s high just managed to pip that previous high after which price reversed lower. I’m currently considering the rally that started in September to be corrective with a possible decline to follow soon.

Conclusion

It might be too early to call a top on GBP/JPY, but if price breaks the previous low at 139.28, then we could see a drop towards 138.03. If price manages to break below my center median line, then we could see a decline towards 135.66 or even lower to 130.43.

Until next time, happy and safe trading!

Regards

Richard Krugel

by Richard Krugel November 26, 2019
0 7

EURUSD - Bias stays lower

EURUSD

A Monday prod lower below 1.1013 support, to reinforce Friday’s plunge through 1.1053/51 and 1.1030 supports, fully rejecting Thursday spike higher above the key 1.1092/93 resistance area (for an intermediate-term bullish shift), to switch risks back lower for Tuesday.

  • We see a downside bias for 1.1002; break here aims for key 1.0988 and maybe 1.0959.
  • But above 1.1032 opens risk up to 1.1060 and maybe 1.1097.
by Steve Miley November 26, 2019
0 3

Market Comments - Gap and Go for Monday European Open

Market Comments

Monday 25th and 5AM in NY. We are seeing bullish sentiment all over the Europe and US futures are gapping up.

(https://money.cnn.com/data/world_markets/europe/)

Market Comments:

For the major indices, we closed mixed on Friday but that did not weaken the bulls. We are feeling the ease of the holiday season coming in a few weeks and this week being a short one for most of US traders we expect some lower volatility in the upcoming days. The market calendar does not have to surprise us with important releases so let us just focus on the charts.

FTSE has confirmed a local low at 7200 and is narrowing the range for a potential breakout in the nearest future. The main question is When. At the moment consider resistance 1 at 7400 and resistance 2 at 7450 as being key levels on the short term. I hope you played the shorts out of the trend line last week and made money, worst case closed at breakeven!

 

DAX is feeling well with everything that is happening in the US and EU. It is back in its range and there is two-way scenario here. I would not chase a trade here if I had to decide. Supports at 13300s and Resistance at 13050s.

 

S&P500 Futures at the moment is testing resistance noted at 3120s. We still have that blue resistance line that worked well last week. If we re-test it this week and move back down, a harder drop might be coming as a possible outcome. For now consider support at 3091ish and see how 21EMA is catching up on the price near 3090s.

GC (Gold futures) slightly lower. Our supports at 1455ish could be violated today so its good if you covered some last week when we didn’t get momentum to the upside. At the moment lets see if we hold. Don’t really like it here as it showed no power for the last three sessions.

Avoid for now.

Join our Telegram Chatroom to ask me questions| https://t.me/asktraders

 Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari November 25, 2019
0 2

NZDJPY - Consolidation Breakout?

NZDJPY

Good day traders! It looks like the NZD/JPY will finally break out of the consolidation pattern that it was stuck in for more than a month and I still consider the price structure, from the 26th of August low, as a correction within a larger bearish cycle.

I narrowed my initial entry zone, since my last update, to now fall between 70.15 – 70.70 and if price reverses from there, then price could trade lower towards my center median line around 69.09 or even lower towards 67.62.

Until next time, happy and safe trading!

Regards

Richard Krugel

by Richard Krugel November 25, 2019
0 3

FTSE100 - Risks higher

FTSE100

A Friday surge through 7315.5 and 7333 resistances, to reject the Wednesday-Thursday plunge through 7237/35.5 and 7217 key supports, to switch risks back higher for Monday.

  • We see an upside bias for 7350 and 7359; break here aims for 7377 and 7399.
  • But above 7301/7299 opens risk up to 7271 and maybe 7243.
by Steve Miley November 25, 2019
0 1

Market Comments - Friday Fun or Bullish Run

Market Comments

Its Friday and its 5am in NY. Early birds are up for a run and we are just checking some charts.

Market Comments:

We closed with an inside day yesterday on Futures and SPY (SP500 ) and today waiting for some volatility and test of the previous levels. No important news are planned to be released so just go with the flow. The market is feeling slower we are ahead of the long weekend next week.

(https://money.cnn.com/data/world_markets/europe/)

FTSE bounced off 7200 mark, looks like something positive is happening as I don’t really follow the fundamentals on European markets. If you had positions make sure you don’t risk a $. Its in a range so it’s a chop-chop situation.

 

DAX bounced to resistance noted yesterday and got rejected during this European session. This is the high to trade against. Check Hourly charts for clues.

S&P500 Futures got some traction yesterday and closed green but inside the previous bar. At the moment we are still in the range with some bullish traction. Supports and Resistance remain the same as we didn’t break the range. Slow market is expected today if no fundamentals appear.

GC (Gold futures) could start its slow rise. Closed weak yesterday but our pivot at 1455s remain untouched. The 1480s has to be breached with volume and continuation so we can have a momentum move.

Trade to be actively managed. 

For those of you who are trading US equities, we are having chart request sessions, Monday to Thursday 12pm-2pm time in our real time chatroom.

Join our Telegram Chatroom to ask me questions| https://t.me/asktraders

 Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari November 22, 2019
1 3

S&P500 - Protect a possible reversal in SPX

S&P500

SPX is falling below the 3100 level as of writing. The index has reversed down from this big trend since May. We have seen some rather volatile intraday sessions over past days, but market has managed coming back, both ways. I would be dancing very close to the exit here, and would start thinking about net shorts if we close below the 3100 level.

First stop at 3080, and the big support down at 3040 (Chart above).

VIX is picking up last 2 days and is up from the levels I mentioned as good buy volatility as protection levels. VIX does not trade as a normal char for obvious reasons. I would look at put spreads here. Not pay too much premium, but still protect the portfolio. Why not a 3080/3040 put spread?

by Aleksandar Adamovic November 22, 2019
1 3

EUR/CHF – Update - RICHARD’S SWING TRADING REPORT 21 November 2019

EUR/CHF – Update

Happy Friday traders! EUR/CHF managed to reach my long-term center median line (in blue) since I last analyzed this currency pair on the 18th of November. Price found temporary resistance at that line for a couple of days and is currently moving higher again towards yesterday’s high.

The next overhead targets will be my 0.786% Fib retracement level at 1.1016 and then finally the upper green median line of my short-term pitchfork at 1.1055.

Until next time, have a great weekend!

Regards

Richard Krugel

by Richard Krugel November 22, 2019
0 2

S&P 500 - Topping leaves bias lower

S&P 500

An erratic, but negative consolidation Thursday, after Wednesday’s significant selloff through supports at 3108.25, 3103/02 and 3097/96, having rejected Tuesday’s move to another new record high (to 3132.5), to set the bias lower again for Friday.

  • We see a downside bias for 3090.75; break here aims for 3081.75 maybe 3075.75/72.5.

But above 3114.5 quickly opens

by Steve Miley November 22, 2019
1 3

Oil - Hitting resistance

Oil

Oil is +5% in 2 days, impressive given the fact equity markets have actually sold off.

I have been bullish oil for some time, but I doubt oil has the momentum to break out properly here. 58 is very big resistance level. Oil over time remains stuck in a boring range with supports around 52 and resistance around here at 58. A possibly overshooting could be in the making, but I would start offloading longs here. Shorting outright is probably pre mature, but something I would start looking at here as well (Chart above).

Oil volatility has come off sharply since the Aramco attacks. Hedging or speculating via options is much cheaper here than a few weeks ago. A simple strategy to hedge longs here would be relatively cheap put spreads.

Should oil make some sort of reversal here, then outright shorts is something I would look for. It would be a short term trade, just for a pullback with a tight stop above the resistance levels here.

by Aleksandar Adamovic November 22, 2019
0 3

Market Comments - No deal, no problem

Market Comments

Thursday 7:30am in NY. Good morning, congrats to everyone who is already at the gym because I am not there yet.

Market Comments:

After yesterday No trade deal this year news, the S&P Futures pushed lower and has hit supports setting up a low at 3090. Europe and Asia had set new session lows but now are trading way higher.

(https://money.cnn.com/data/world_markets/europe/)

FTSE continues its drop showing relative weakness. Support area around 7100.

 

DAX is tricky and for now support around 13200 becomes resistance for the short term. We bounced of 21 EMA and the next target is 12990. If you are short, consider 13200 as a level of balance to play from. Stops should be higher for now. The US open can give us some clues.

The trade could be considered.

S&P500 Futures closed on 8EMA and now we are trading inside yesterday range. If we break it to the downside, we may quickly consider 3070s as a point of reference. Current resistance is at 3120 and this may be crucial for today. Do not forget that we have options expiration tomorrow as we are into the 3rd week of the month. Also consider that next week will be Thanksgivings and volatility will likely be eating a big fat Turkey starting Wednesday afternoon. Don’t get mad at the market, it’s almost Friday.

The trade could be considered

GC (Gold futures) are slowly holding. Lets see if we can break the 1480s and move higher to 1500. Market undicision could help.

Trade to be actively managed.

For those of you who are trading US equities, we are having chart request sessions, Monday to Thursday 12pm-2pm time in our real time chatroom.

Join our Telegram Chatroom to ask me questions| https://t.me/asktraders

 Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari November 21, 2019
0 4

CADJPY - Update

CADJPY

Good day traders! CAD/JPY eventually reached my lower median line and channel line since my last update on the 13th of November. I would now expect price to be supported by those lines, resulting in a possible upwards movement which could be a correction within a bearish sequence.

Overhead resistance now lies between 81.91 – 82.09 with my center median line also crossing through that price zone. If price breaks through that zone, then I would not like to see a move higher than the 18th of November high at 82.52 which could then indicate that this downwards move was either a correction that ended, or part of a more complex correction with more downside to follow.

On the other hand, if price breaks below the 81.28 level, then price could target my lower red warning line at 80.67 or even drop lower towards 80.35.

Until next time, happy and safe trading!

Regards

Richard Krugel

by Richard Krugel November 21, 2019
1 5

GBPUSD - Rebound theme

GBPUSD

A dip and a rebound Wednesday from just below 1.2898 support and above 1.2867 (from 12887) to retain upside forces from Monday’s rally through notable 1.2976 resistance after last week’s strong advance (above 1.2898 and 1.2917 resistances), to leave risks higher for Thursday.

  • We see an upside bias for 1.2954; break here aims for 1.2985, key 1.3013 and maybe 1.3053.
  • But below 1.2887 quickly aims for 1.2867 and then maybe opens risk up to 1.2835
by Steve Miley November 21, 2019
0 3

World Markets - Red arrows around the globe

World Markets

Its Wednesday and we are getting closer to the Holiday season. The traders optimism was as its peak for the past 48 hrs and it didn’t take too long for the market to show a short term top, at least for now.

Market Comments:

Its 7-30 AM in NY and European bears are coming in with FTSE leading the drop. S&P Futures is also feeling the pressure so lets look at the charts.

(https://money.cnn.com/data/world_markets/europe/)

FTSE being the weakest of all the indices has perfectly tapped the resistance. Once we started dropping in the major indices, it had a nice momentum move into the downside. Notice how Fundamental political instability can align up with the charts and trends.

Trade Missed

DAX tried braking to the upside as we’ve notice yesterday but got sold into the close. It opened today lower and tried holding the 21 EMA. Currently the balance shifted to the Sell side. We have two levels of resistance that you can note. R1 = 13200 and R2 = 13300. Conditions to the short side start to align and you can watch it closer.

The trade could be considered.

S&P500 Futures higher during the European session. There is no reason to short. If you have longs, you might cover some into the move.

The trade could be considered

GC (Gold futures) broke 1475ish so if you are in from lower prices or just entered, adjust your size to the stop at 1450s so you don’t risk more than 1% of your account. Make sure you can split the position in tiers and use one tier as a less risky with a stop at 1455ish. Note that the momentum move should start within next one or two sessions and we we slide back to 1450s, the trade might be cancelled. Stay tuned and follow the spot market Hourly or 30min charts for additional clues.

Trade to be actively managed.

For those of you who are trading US equities, we are having chart request sessions, Monday to Thursday 12pm-2pm time in our real time chatroom.

Join our Telegram Chatroom to ask me questions| https://t.me/asktraders

 Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari November 20, 2019
0 3

EURGBP - Long-Term View: Bearish

EURGBP Long-Term: Bearish

Good day traders! EUR/GBP most likely completed a 5-wave bullish sequence on the 12th of August this year. Price has since declined sharply and is currently trading near the March 2019 lows.

After a 5-wave sequence, it would be reasonable to anticipate a correction lower and since we are looking at price action over a period that extends all the way back to July 2015, I would view the current move lower as only the start of a deeper decline that could take some time to complete.

Price has been trading slightly higher since Monday’s low at 0.8521, but another drop below that level could see EUR/GBP be drawn towards the March lows at 0.8474, or even lower to where a 0.382% Fib retracement level lies (measured from the start of this proposed bullish sequence) at 0.8410.

Conclusion

Whether EUR/GBP tests the March lows sooner than later remains to be seen but I would expect a correction higher any time soon that could last for a few weeks before price declines even further.

Until next time, happy and safe trading!

Regards

Richard Krugel

by Richard Krugel November 20, 2019
0 7

USDCAD - Threats flip quickly higher

USDCAD

A very strong rally Tuesday through 1.3252 and 1.3270/71 resistances, to fully reject Monday’s selloff through the 1.3211/07 support area and a spike down to 1.3176, to resume upside pressures from the earlier November push above key 1.3240 resistance, to flip risks to the upside Wednesday.

  • We see an upside bias for 1.3294 break here aims for 1.3348 and opens risks up towards key 1.3383.
  • But below 1.3228 opens risk down to 1.3186/76.
by Steve Miley November 20, 2019
0 3

World Markets - Another Day Another Run

World Markets

It’s a beautiful morning of Tuesday and we are moving high on the EU Markets.

Market Comments:

Its 5AM in NY and Europe is shooting to the moon.

(https://money.cnn.com/data/world_markets/europe/)

S&P500 Futures higher during the European session. There is no reason to short. If you have longs, you might cover some into the move.

ES 2019-11-19_5-06-51

 

 

Trade Ideas:

DAX thesis wasn’t confirmed by the market move. We didn’t manage to close below the 8EMA and held perfectly the previous support at 13150.

DAX 2019-11-19_5-09-12

GC (Gold futures) as mentioned in the previous posts, there a potential upside in the gold forming. At the moment we need a confirmation of the equity market slowdown and maybe then Gold futures will be able to 1475ish and move to 1500.

GC 2019-11-19_5-10-54

For those of you who are trading US equities, we are having chart request sessions, Monday to Thursday 12pm-2pm time in our real time chatroom.

Join our Telegram Chatroom to ask me questions| https://t.me/asktraders

 Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari November 19, 2019
0 4

GBPAUD - Approaching Resistance

GBPAUD

Good day traders! The GBP/AUD currency pair has been trading higher since my last update on the 12th of November. Price is currently trading near the 16th of October high with two longer-term pitchfork lines residing slightly above that high around 1.9125.

With price approaching the previous high and pitchforks lines, we might see some profit-taking soon. How GBP/AUD reacts to those resistance lines could provide a clue as to what price will do in the near-term.

I will not be surprised to see a temporary pullback around the 1.9125 level, but if price breaks that level with decent momentum to the upside, then we could see a move towards the 1.9488 level or even higher towards 1.9603.

Until next time, happy and safe trading!

Regards

Richard Krugel

by Richard Krugel November 19, 2019
0 5

EURUSD - Risks still higher to key 1.1092/93

EURUSD Bullish

A firm advance on Monday, to build on Friday’s bounce from 1.0988 above 1.1043 and 1.1055 resistances, to ease negative forces from the November selloff (to prod below key 1.0989 support), to keep risks back higher for Tuesday.

  • We see an upside bias to key 1.1092/93; break here aims for 1.1117 and 1.1140.
  • But below 1.1053/52 quickly opens risk down to 1.1030, maybe towards 1.1013.
by Steve Miley November 19, 2019
0 2

World Markets - Higher prices, higher risk of a correction

World Markets

Monday, what a beautiful day to start over. If you lost money last week, forget about it. Today you should free your mind and concentrate you technicals and long/short scenarios.

Market Comments:

Its 7AM in NY and Europe does not show big momentum continuation so let us check the numbers. (https://money.cnn.com/data/world_markets/europe/)

Fundamentally we are not waiting for any big events this week, just make sure you know about the FED Meeting Minutes and the Options Expiration on Thursday.

S&P500 Futures have reacted to the resistance at 3127 mark. Consider last week high and low as reference points. If ES prices are kept on last weeks highs, we are still in a bullish territory, if we have a day close below last week high, things might become short term bearish. Its all about If – > Then for a trader so don’t predict the market, read it and act accordingly.

Trade Ideas:

I still hold my thesis that DAX could be a play to the downside once we have some selling pressure coming. Its in a small range for quite a while and showing relative weakness. Other incides are either speculative like FTSE100 or are much stronger to All Time Highs like CAC40. I do see a potential double top on daily within a few days distance and also a rising wedge that is read as a bearish signal.

Don’t blindly short here, wait till we see a catalyst that moves the balance to the bear side.

For those of you who are trading US equities, we are having chart request sessions, Monday to Thursday 12pm-2pm time in our real time chatroom.

Join our Telegram Chatroom to ask me questions| https://t.me/asktraders

 Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari November 18, 2019
0 3

AUDUSD - Bias higher

AUDUSD Bullish

A firm advance Friday above .6807, to reject last week’s negative price action through key .6808/06, to flip the bias higher for Monday.

  • We see an upside bias for .6822 break here aims for .6841 and maybe key .6865.
  • But below .6799 opens risk down to .6766 and maybe .6749.
by Steve Miley November 18, 2019
0 5

EURCHF - Bullish Bias

EURCHF Bullish

Target: 1.1055

Entry: 1.0959

Good day traders! The EUR/CHF currency pair found support at the lower median line of a Schiff pitchfork on the 4th of September. Price then moved higher and struggled to break through my center median line.

After a short sell-off, price has yet again found support last week (black arrow) and bounced higher again.

Using an upward sloping Schiff pitchfork (in green) shows that last week’s low came in right at my lower median line. Price is currently trading slightly below my green center median line at 1.0959 and a push through that level could see EUR/CHF making a quick move towards the 1.0995 level or even higher towards 1.1055.

Until next time, happy and safe trading!

Regards

Richard Krugel

by Richard Krugel November 18, 2019
0 8

S&P500 - New All Time Highs Ahead of the Weekend

S&P500

Good Morning Speculators!

On Thursday there was a speculative info that US-China tariffs agreement is having some issues but the news where bought back quickly. During the Asian Session US Futures have pushed to All Time Highs. At the moment this is what you should consider:

S&P 500 Futures (Chart above)

NASDAQ Futures

Market Comments:

We remain with the same scenario as discussed Yesterday on DAX 8EMA break and Gold buying opportunity. As the angle of the trendlines is getting sharper, we are expecting a pullback in indices that may signify a short trade for a few days. This does not mean that it’s a short at the moment, it just means that you should stay cautious in the next 3-4 sessions. Also we have resistance lines on the ES and NQ. By the way, FTSE100 is feeling the most bearish for now.

The world markets are all in green at the moment and here is a link to check it quickly at any given time.

https://money.cnn.com/data/world_markets/europe/

Trade Ideas:

At the moment, I do not call any trades on US or EU index futures, we have a scenario playground with DAX and Gold so keep it in mind. Its Friday and there could be anything happening but its clear that we have come a long way till current prices and its hard to initiate new positions that are not momentum or news driven.

Cryptos also are slow and low volatile. As we re not seeking day trades or scalps, avoid for now.

As a conclusion:

Watch the market closely, don’t force trades and spend some time with the family if you see that the market is doing nothing.

Have a great weekend!

Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari November 15, 2019
0 6

NZDJPY - Update

NZDJPY

Good day traders!

When I last analyzed NZD/JPY on the 31st of October, I was waiting for price to enter the 70.10 – 70.85 price zone for an opportunity to go short. I also identified an entry zone higher up, but because price has been trading sideways ever since, I now favor my lower price zone for an entry.

Conclusion

Price has been supported on numerous occasions around the 68.99 price level (a previous high) and my center median line which turned price back upwards yesterday.

NZD/JPY might still reach my entry zone, but if price fails to move that high and breaks below the two support levels at 68.99 and 68.88, then I will assume that a top is in place and target the 68.16 and 66.93 price levels.

Until next time, have a great weekend!

Regards

Richard Krugel

by Richard Krugel November 15, 2019
0 7

S&P 500 - Another strong rebound, another new record high 

S&P 500

Again, a setback Thursday but once more holding and rebounding from just above our 3075.75 and 3072.5 supports (from 3081.75), to sustain upside forces with a surge overnight to another new record high at 3011.5, to keep the bias higher for Friday.

  • We see an upside bias for 311.5; break here aims for 3117.75 and 3125.75 and maybe 3138.5.
  • But below 3098/96 targets 3081.75 and then quickly opens risk down 3075.75/72.5.
by Steve Miley November 15, 2019
0 1

S&P500 - Momentum slows and FOMO is rising.

S&P500

Good Morning Traders!

Its Thursday and the trend continues, although US indices show a slowdown in momentum and Europe is trading mixed, we are near All time highs. Some stocks have been shooting straight up and others are just showing setups. In this indecision its very hard to start new positions to the long side and its too risky for aggressive shorts on strong stocks. Waiting is also a way to trade the market so patience is key here.

Trade Ideas:

DAX

Positions:

As for the positions on US stocks, follow our previous posts to consider stops and targets.

 Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari November 14, 2019
0 4

AUDUSD - Update

AUDUSD

Good day traders! The chart above shows the price structure of AUD/USD when I covered this trade idea on the 25th of October. There were two long-term channel lines above price at the time which created a price zone between 0.6883 – 0.6950.

My second chart shows where price is trading at today. AUD/USD probably topped out after price found resistance at my upper blue channel line and reversed lower. Price has since dropped below a previous level where resistance turned into support at 0.6810.

Conclusion

There is a good chance that price will test the 0.6778 price level, which is where a center median line and lower median line from two separate pitchforks cross. A break below those lines could drive price lower towards the 0.6727 price level or even the 2nd of October low at 0.6670.

Until next time, happy and safe trading!

Regards

Richard Krugel

by Richard Krugel November 14, 2019
0 9

GBPUSD - Day trade outlook: Modest upside bias

GBPUSD

A minor Wednesday setback but still holding above the 1.2815/1.2799 support area, to retain upside forces from Monday’s surge up through the November down trend line and also 1.2832 and 1.2878 resistances, to leaves risks higher for Thursday.

  • We see an upside bias for 1.2898; break here quickly aims for 1.2917 and maybe notable 1.2976.
  • But below 1.2815/2799 opens risk up to 1.2768, maybe 1.2749.
by Steve Miley November 14, 2019
0 6

SP500 - Europe takes a break, SP500 tapped 3100

SP500

Its mid-day and looks like Europe indices are showing some weakness along with Asia. FTSE, DAX, CAC40, in the red with a drop -0.5%+. Gold futures is showing relative strength. Watch how the market (S&P500 futures) reacts to 3064 as local support. If we go lower, 3050s is our next spot.

FTSE

DAX

Trade Ideas:

Gold Futures are showing strength as international markets are slowing their momentum. We saw some commitment at 1450s and looks like it’s the area that matters as previous levels of 1455ish and 61.8% collide in the same price zone. I would consider longs here near 1455/60s if the US market will continue its corrective move. Stops at 1445.

Positions:

As for the positions on US stocks, follow our previous posts to consider stops and targets.

 Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari November 13, 2019
1 3

CADJPY - Update

CADJPY

Good day traders! My bias on CAD/JPY remains bearish (see my 7th of November analysis). The move lower, from the 28th of October high, can be viewed as impulsive and was followed by a possible correction higher that created a lower high.

Price has since traded lower again and if you use a downward sloping Schiff pitchfork, then you will notice that price has respected my center median line on 3 previous occasions.

Conclusion

A break below my center median line could see CAD/JPY test the previous high at 82.091 or drop even further towards my lower median line around 81.500. My upward sloping channel will remain on my chart to see whether price will find support at the lower channel line, but a break below there will be an indication that price can fall even further.

Until next time, happy and safe trading!

Regards

Richard Krugel

by Richard Krugel November 13, 2019
0 8

EuroStoxx50 - Day trade outlook: Dip and a bounce leaves a bull bias

EuroStoxx50

A Tuesday rally to yet another new cycle high to hit and stop at our 3714 target, to build on Monday’s setback and rebound (as also seen last Friday,) exactly from our 3677 support, to reinforce upside pressures from the early November surge through multiple resistances, and despite a dip lower overnight to keep risks higher Wednesday.

  • We see an upside bias for 3714; break here aims for 3726, maybe 3737.
  • But below 3686 quickly opens risk down 3677 and maybe 3665.
by Steve Miley November 13, 2019
0 2

Futures - Higher, the trend continues

Futures

It’s a wonderful day and we are definitely in an uptrend. The strongest sectors remain strong, volatility is steady and the direction is firm. SPY is holding its support at 306ish and local resistance is at 309.65, the trend remains unchanged.

Trade Ideas:

Nike (NKE) Initiate longs near 90.00 with stops under 89.30s. add on break of 90.72 ~ 25% of the position.

Positions:

Danaher Corp (DHR) Didn’t continue its upside move and 135.50s was quite a resistance. I would cut off 50% of the trade and wait either to stop me out or for the volume and price to be directed vertically.

Starbucks (SBUX) showed some power near 81.50s and now looks like it broke the falling wedge and might move higher. Look for clues and confirmation of the following level 83.50. Stops at 81.20.

Electronic Arts (EA) is feeling pressure, stops under 96 for the remaining part but use alerts for a longer timeframe as the trade might need some more time.

Tesla (TSLA) is confirming our scenario and had a nice gap and a small move to the upside. Yesterday Highs at 349. Do not forget to cover into the first target at least 50% of your position. Remember, you cover into new highs  not into correction.

 

Brown & Brown (BRO) is feeling well. It made a new high at 38.03. Unload a chunk into 38.50s and 40s. Leave after 40s only 10-20% of the position as a runner.


Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari November 12, 2019
1 3

GBPAUD - Bullish Resumption

GBPAUD Bullish

Target 1: 1.9093

Target 2: 1.9537

Good day traders! GBP/AUD may have put in a low after price stopped short of my invalidation zone and broke above my upper red trendline (see my 5th of November update).

30-Minute Timeframe

The move higher, from the 7th of November low, looks impulsive and more aggressive traders could have taken a long position when price broke above the upper red trendline. Those traders with a more conservative approach may consider waiting for a pullback towards one of the Fib retracement levels, thereby anticipating a higher low before entering.

Conclusion

Should the recent upwards momentum continue, then price could target the October high at 1.9093. A decent break above that high could see price make its way towards my upper green channel line around 1.9537.

Until next time, happy and safe trading!

Regards

Richard Krugel

by Richard Krugel November 12, 2019
1 12

EURUSD - Still a downside risk to the key 1.0989

EURUSD Bearish

A minimal rebound Monday capped at 1.1055 resistance, after last Friday’s probe lower through 1.1035 and 1.1021 supports, to reinforce last Tuesday’s plunge below 1.1071 for a Double Top pattern, to keep risks lower for this Tuesday.

  • We see a downside bias for 1.1015 and then the key 1.0989 level; break here aims for 1.0959 and maybe critical 1.0939.
  • But above 1.1055 opens risk up to 1.1092/93.
by Steve Miley November 12, 2019
0 3

Trade Updates - US Veterans Day, Futures meltdown

Trade Updates

Good morning traders.

The US holiday gives us a chance to rethink our past week and adjust with some new ideas. On Friday, the futures closed strong but today we are seeing a slide to the lower range of the Friday. The bears dominate the UK Market today and eventually it affects the overall investment sentiment.

Trade Ideas:

At the moment there is not much happening as the Stock Exchange (is closed) is expecting to have lower volume but the futures market might give an opportunity in the Russel 2000 micro contract (M2K). Check the level 1585 – 1582 as the main buy zone to see if there price confirms the levels. Consider entries with increased volume on 30/60 minute charts.

Positions:

Danaher Corp (DHR) looks like it triggered our trade. Its holding 133.50 – 134 and even closed on 135 mark. We see some volume coming in and there might be a good continuation. Place stops under the consolidation at 133.20s. First targets at 139.

Starbucks (SBUX) remains under pressure, it didn’t give enough info for the trae to be triggered but that doesn’t mean it should be skipped. Watch for a reaction of local pivots around 81.00 and 81.50s.

Electronic Arts (EA) stopped most of us at 96.50, good if you placed a separate stop on a part of your position at 95.50 area. For now it looks bullish and its holding 50/21 and 200MA. It may need to clear 100 market for a move to 102. If you are still in, wait, if you got stopped out at 96.50s, consider buying around 96.00 – 95.50s if the price will move there.

Tesla (TSLA) didn’t change much and still looks interesting. This week we might clear the 340 mark and move to 350 where is our first target. Stops at 314.50s for now.


Brown & Brown (BRO) It’s still holding near the highs, hopefully this week we can see a continuation of the move towards 40.00. Stops at breakeven.

Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari November 11, 2019
0 4

XAUUSD (Gold Spot) - Gold Can Still Go Lower

XAUUSD (Gold Spot) Bearish (Short-term)

Good day traders! Gold has been trading lower since the high back in September this year and the current price structure might suggest that we are seeing a corrective pattern that has not yet completed.

4-Hour Timeframe

The move lower, into the October low, looks like a 3-wave structure that was followed by a complex correction higher that ended early November. We may be dealing with what is referred to as a Double ZigZag.

Assuming that this whole pattern is corrective, then Gold might be in the early phases of another 3-wave move lower that could target the bottom of my channel.

Price took out the October low on Friday last week which could be the A-wave of the final ZigZag lower. The A-wave might extend lower, but if price bounces higher again, creates a lower high, followed by another drop then price could target the 1420 price level or even go lower towards the 1400 level.

Conclusion

My bias on Gold is bullish over the long-term, but the corrective nature of the current price structure suggests that I should wait before I want to get into Gold again.

Until next time, happy and safe trading!

Regards

Richard Krugel

by Richard Krugel November 11, 2019
0 11

AUDUSD - Risks now lower

AUDUSD

A Friday plunge below .6878 and .6858 supports, to reject the Thursday rebound up through .6907/08 resistances, to shift risk back to the downside Monday.

  • We see a downside bias for .6845/44; break here aims for .6808/06.
  • But above .6887 opens risk up to .6913 and maybe .6929/30.
by Steve Miley November 11, 2019
0 5

S&P Futures - New high at 3097, do we hit 3100 or fall back?

S&P Futures

Good morning gamblers! 🙂

Its Friday and I bet a lot of you had a great week with our trades in BRO, TSLA. TWTR was covered at a loss and EA is trading near breakeven. Remember when the market is getting to new highs, its very hard to catch a good trade.

SPY got some pressure yesterday but no clear reversal setup for now. Yes, we do feel the bears sentiment but no technical confirmation is in place. IWM is the weakest so it is probably wiser to focus on it. SPY next support is at 306.20s and IWM at 157.35.

Trade Ideas:

Danaher Corp – DHR does not look bad. The price is in the are of support near the previous pivots 134-135.50s. The 200SMA was touched and we have some supporting trend lines that confirm the potential increase in price. It was not very bearish yesterday and the volume is steady. I would consider a long on 133.50s or if it becomes relative stronger than the market, break with volume of 135 might be a spot to watch.

Positions:

Starbucks (SBUX) did show a correction move to 82 level as expected but didn’t confirm the reversal setup with volume. Watch it for clues today so if we get a breakout back to 82.60s with volume, we might start a sweet long.

Electronic Arts (EA) touched the 99 mark once again and got sold. Loos like its not ready yet. Stops at 96.50s, some stops might be placed around 95.50. The drop may become a back test of the trendline break, and it this case, the direction remains unchanged.

Tesla (TSLA) hit the level 340. Stops should be moved to breakeven. Good if you reduced 10-20% of the position near 340 as the market becomes slower. Longer term targets 352 – 370.

Brown & Brown (BRO) did exactly what where looking and tested its previous highs near 38. I hope you unloaded some near 38 mark as the resistance was an obvious obstacle for a the short term. Stops at breakeven.

Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari November 8, 2019
1 10

GBPCHF - Update

GBPCHF Update

Good day traders! The GBP/CHF currency pair has continued trading sideways since I last covered this trade idea on the 30th of October.

4-Hour Timeframe

When I first analyzed GBP/CHF, I identified a price zone between 1.3000 – 1.3100 where I expected price to move towards before a potential drop could take place. Price structure currently suggests that a Descending Triangle formation has taken hold, which means that should price break below my orange horizontal trendline, that a decline could start sooner than later.

There is a possibility that price already made a top when it reached my upper blue median line on the 17th of October (blue arrow). Since that top came in price started moving sideways and at some stage soon, I would expect a breakout.

Conclusion

A break below the 1.2692 price level, with decent momentum, could drive price lower towards my lower blue median line or the 0.5% Fib retracement level at 1.2537. The next level of support is slightly below that at 1.2477, where a previous high was formed.

I will keep my upper entry zone between 1.3000 – 1.3100 while I wait for directional confirmation once this triangle finally completes.

Until next time, have a great weekend!

Regards

Richard Krugel

by Richard Krugel November 8, 2019
0 7

USDJPY - Bull bias

USDJPY Bullish

A Thursday dip and a strong advance from just below 108.79 support (off of 108.62), to a new recovery peak above the key 109.29/32 resistance levels, confirming bullish pressures from the early November surge, to aim higher again Friday.

For Today:

  • We see an upside bias for 109.60/62; break here aims for 109.93, maybe 110.34
  • But below 109.03/01 opens risk down to 108.62.
by Steve Miley November 8, 2019
0 5

- Tariffs get an ease, futures higher

Welcome back!

Wednesday SPY did cover its gap holding supports at 306.20. For now, we are trading higher in the pre-market on the optimism of tariff US – China deal.

Trade Ideas:

SBUX might be an interesting trade as it has 3 reasons to hold the 82 area. First its 200SMA on Daily, second it’s a nice round number that worked well on two pivots before and 3rd we’ve seen reaction on the level and now we need a pullback and a back test of the trend line. The Daily chart shows more clearly. A pullback to 82.00 – 82.25 with a picking up volume and a quick bounce of it will keep the trade valid.

Positions:S&P Futures (ES) is up considerably and did not proceed with out yesterday scenario which means that either you took a trade and exited at breakeven, or you had no trade at all.

Twitter (TWTR) is trading lower in the pre-market and looks like this is a losing trade. I hope you had a very limited risk of no more than 1% on this trade.

Electronic Arts (EA) did show commitement and made a new high of 99.30s before a small pullback. At the moment stops remain unchanged at 96.50s with targets past $100+.

Tesla (TSLA) moved higher yesterday and confirmed the momentum move. First targets near 340s. Stops remain at 309.50 for now. Yesterday low at 314.50 is a local support. I hope you are still in.

Brown & Brown (BRO) Continued its move to the upside, giving us another $ in profits. Its still unrealized gains which means stops are in place at 36.50s. Lets see how it reacts near 38 level. 

Remember:

  1. Never chase a trade once it’s too extended from the entry zone.
  2. Never risk more than 1% of equity per trade.

Happy Trading!

@Trader521

by Yurii Kitikari November 7, 2019
0 0

CADJPY - Bearish

CADJPY Bearish

Good day traders! The CAD/JPY currency pair has run into strong overhead resistance and we might see price trade lower in the near-term.

Weekly Timeframe

Using the September 2017 high as my starting point (Chart above), I drew a downward sloping Schiff pitchfork which has managed to contain price action pretty well. Price has recently struggled to break through the center median line to the upside and reacted lower, leaving a weekly red reversal candle behind last week.

Daily Timeframe

Last week’s high came within a fraction of an upward sloping channel and reacted lower. Price then found support at a previous high (red dashed line) and has since bounced towards my center median line again.

Conclusion

A break below the 82.09 level could see price target the bottom of my channel, but if price does not find support there, then we could see a deeper decline.

Until next time, happy and safe trading!

Regards

Richard Krugel

 

by Richard Krugel November 7, 2019
5 8

DAX Future - Bull extension

DAX Future Bullish

A Wednesday push higher to a new cycle high above 13166.5 to 13208, after Tuesday’s high-level consolidation and Monday’s surge through multiple resistances, to keep risks to the upside Thursday.

For Today:

  • We see an upside bias for 13208; break here aims for 13250 and maybe 13333.5.
  • But below 13103.5 aims for 13070/65 and opens risk down to 12970.5.
by Steve Miley November 7, 2019
1 1

S&P500 - Ready for a short term top?

S&P500 Bearish

Good morning speculators!

Tuesday was a slow day and the market seemed to set a short term top, at least for now. Local supports at 306.20 and resistance at 308. Wednesdays are usually tricky days and we are not seeing much of a fundamentals to boost the continuation move so lets see.

Trade Ideas:

S&P Futures (ES) is a futures trading idea (Chart above). We saw a local top near 3086 on SP500 futures and looks like a lower move could start. Ideally our team is looking to see a market open near yesterday close at 3070s with a potential trap for the bulls and initial move towards 3080s from which we consider, some sellers might step in. The plan is the following: Look for resistance confirmation during the US session with ETF (SPY) resistance synchronization. Enter on a short term pivot trigger during the first 2 hours from the market open. If the play doesn’t confirm the scenario, skip the trade. Stops are local pivot high, target 1 @ 3056, target 2 @ 3040s.