Interpreting market movements in a whole new way
Interpreting market movements in a whole new way
Both Gold and Silver have been trading short on a short extension. It is quite unusual as prices for instruments especially precious metals, usually go higher in Fibonacci long extensions but never fall in Fib short extensions. The short extensions for both instruments with the erratic moves in the greenback however, have been trading relatively … Continue reading “Gold & Silver on another leg lower”
Read MoreThe Yen has been trading in the middle of the channel shown in the trendline chart below. We spiked all the way into 0.009887 at the beginning of the pandemic only to fall precipitously as equities began their rally in the couple of weeks following the first break of the news. Since then, we have … Continue reading “USD/JPY trade analysis and short-term trade idea”
Read MoreCrude oil has been messing up traders who see every pullback as a chance to sell. So has gasoline and both these futures contracts have now rolled to a brand new front-month of Jan’21. Yesterday Gasoline [or RBOB as most like to call it] pulled back alongside WTI Crude futures and held the 1.1250 area … Continue reading “Gasoline could run higher”
Read MoreWe ran into what I would call “single prints” into the close of the US cash session today. If you use market profile charts which maps in a very discernable form the number of contracts traded over every 5 minute timeframe, you will notice that the buying thinned out today over 3580 and selling thinned … Continue reading “Emini S&P trade idea”
Read MoreThe weakness in the greenback has contributed to a bit of movement in a basket of currencies that measure well against it. On Thursday Nov 19, 2020 we made a low very early ahead of the European open at 1.18157 and began moving higher but pulled back sharply ahead of the US market open almost … Continue reading “EUR/USD has room to run”
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