It was a rough night for gold bugs, with the market down $27. However, this chart has been playing right out of the Fibonacci trader’s song book recently and it’s holding another potential support level so far today
Asia Pacific indices Australia 200 is breaking out today, clearing 5,560 (which may become new support) to signal a new upleg with next potential resistance near 5,600 then 5,685. RSI indicates upward momentum still increasing. Japan 225 keeps working its way higher, trading near 17,800 with next resistance near 17,960 then the 18,000 round number. […]
From Craig Cobb at Trade with Precision: The key to a successful trade in my opinion is when all the relevant technical factors come together to give the strategy setup. Often it’s just a matter of turning your computer on, doing a scan and it just appears and other times it’s about planning out what […]
Asia Pacific indices Australia 200 ran into resistance at its previous high near 5,560 and has started to slump back a bit in a normal trading correction. 5,500 has been holding as higher round number support so far with more near 5,450. RSI suggests upward momentum intact but slowing. Japan 225 continues to trend upward […]
From Trade with Precision: In this Technical Insights Video Toby Genaro walks through the higher time frame charts looking for a technical setup that meets his criteria on the US equities markets. The FOMC statement is coming out tomorrow so that should provide some volatility.
Asia Pacific indices Australia 200 continues to climb, clearing 5,500 while RSI above 50 and rising indicates upward momentum increasing. Big channel resistance is looming near 5,565 with next tests after that near 5,600 and 5,685. Support rises toward 5,500 from 5,455. Japan 225 has dropped back a bit from 17,790 resistance but remains in […]
The calls for an interest rate cut next week are louder than the cicadas of high summer. Once the various vested interests, such as housing market participants and bricks and mortar retailers, are discounted, there is still a hard core of respected economists and analysts chirping the rate cut song. In my view, they’ll be […]
In Australia, being called a “battler” is usually a compliment, comparable to “salt of the earth”. Battlers “take arms against a sea of troubles” without complaint, while maintaining a laid back sense of humour. So when Aussie currency traders call the local currency “the Little Aussie Battler” they mean it affectionately, while also acknowledging trouble […]
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- Gerard O\'Born: Thanks Craig. Really appreciate it. Gotta work on ...
- Ric Spooner: Thanks DV. Hope it pans out well Ric...
- DV34: First buy entry set, gartley buy pattern on 4 hour...
- Michael McCarthy: Hi DV - yes, it's our intention to record these s...
- DV34: Can these webinars be recorded for those of us who...
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- RT @gregorymckenna: A huge night with US GDP almost guaranteeing more volatility - I look at that, the $AUDUSD, Gold et al @go_markets http… 1 day ago retweeted via gregorymckenna
- RT @ricspooner_CMC: Ugly night for gold bugs but it's found an interesting support level http://t.co/q4co8VH6oL 1 day ago retweeted via ricspooner_CMC
- RT @Sarah_Buchanan: Could the euro defy conventional thinking? @ricspooner_CMC @CMCMarketsANZ http://t.co/EEj1tgUczH 2 days ago retweeted via Sarah_Buchanan