wash N rinse Archive
Natural Gas head and shoulders reversal chart pattern is still intact despite failed rally last week. After that wash out move, real effective resistance is revealed. Am looking for move to neckline.
This is an end of Wk14, beginning of Wk 15 appraisal of the market. I am looking at the AUDUSD, EURUSD, XAUUSD, China A50 and a couple of other trades written about in the past 2 weeks.
Breakout trades explained. We discuss breakouts as a trade signal/trigger, why there are two strategies: to jump a breakout or to fade or trade against one.
Now that DXY is parked at 100 (which is very significant), two camps of traders will be looking at 1) trend continuation 2) reversal. But wait! There is a third possible outcome.
A look at trade setups in AUDUSD, NZDUSD, Nasdaq and XAUUSD. All 4 qualify as potential bearish reversal sell setups pending price signal and confirmation.
Rising DXY could be signalling crude oil weakening especially since WTI and Brent are both at resistance. I discuss the signal in WTI to look out for.