Technical Analysis

Crude oil moves back to the 200 hour MA/midrange The price of crude oil shot higher as Europe was heading into their close. The price rise moved above the 200 hour MA and a topside trend line. The 38.2% of the move down from the July 29th high was tested near the $91.87. The high

The bear flag formation on BTC/USD charts appears to be continuing, suggesting that the current BTCUSD uptrend may be nearing its end. The bears’ outlook is more optimistic than the bulls’. Long-term buyers waiting for a daily candle to close above $26000 should enter or increase positions at that time. Some algorithms and traders might

GBPJPY falls below 200/100 hour MAs The GBPJPY is cracking lower, and making a new low for the day. Technically, the pair moved below the 200 and 100 hour MAs and in the process also cracked below a smaller head and shoulder neckline. WHat next? Stay below the MAs will keep the bears more in

Nasdaq Emini futures (NQ) needs to close a 4 hour candle below this VWAP, anchored from this pivot point (the low of 09 August), in order for bears to fully put their foot on the gas, and bulls to break up. VWAP is a trading benchmark that shows the average price of a security based

The S&P fell for the 1st time in 3 days. The Dow snapped a 5 day win streak. The Nasdaq is down for the 2nd consecutive day. Both the S&P and and NASDAQ are lower for the week. A decline this week will be the 1st after 4 straight weeks of gains. Yesterday the S&P

The following video is a Bitcoin technical analysis update for 17 August, but, moreso, it can teach traders about an important principle to be on the lookout for signs that support or hinder your directional trade plan. The original trade plan was discussed and monitored in the past 3 days here: Bitcoin technical analysis, bulls

The major US indices are closing with mixed results. The Dow industrial average was the biggest winner with a gain of 0.71%. The NASDAQ index fell and the S&P index rose by equal 0.19% amounts. Home Depot and Walmart announced earnings before the opening and they both rose sharply. Home Depot is closing up $12.95

USDCHF ticks to a new high. What next? The USDCHF is ticking above the earlier high for the day at 0.9468 and the swing low going back to August 2 at the same level. The price just reached 0.94709. The 38.2% of the move down from the August 5th came in at 0.9478. Getting back

The major stock indices are closing higher on the day with the Nasdaq leading the way. The major indices are off to a positive start for the week after 4 straight weeks of gains 9 or 11 sectors in the S&P moved higher with Energy (-1.9%) and materials (-0.1%) the only sectors to decline. Crude

The EURGBP used the 100 day MA as a ceiling on Wednesday and Thursday. EURGBP following the technical levels. On the downside, the 200 day MA and 100 hour MA was broken on Wednesday and tried to stay below into trading yesterday. However, after breaking back above, resistance became support again. The price moved up

Today’s daily candle, while closing only in apx 4 hours, is now showing a sign that bulls are failing to break the presented channel to the upside, following this 4th attempt to do so, on the daily timeframe. Even if we had a coin flip (50% chance to win, 50% chance to lose) for this

In this video, I preview the upcoming week in the forex market with the focus on the major currencies vs the USD. I also talk a little a bit about some of the things I hope you can get out of the videos that I have been doing to make you a better trader. Please

The major US stock indices are trading to new session highs with the NASDAQ index leading the way with a gain of 1.5%: Dow industrial average up 300 points or 0.90% at 33637.34 S&P up 49.28 points or 1.17% at 4256.50 NASDAQ index up 188.46 points or 1.48% at 12969 Russell 2000 up 31.11 points

The USDJPY continued it’s move higher today after reaching a low of 132.419 yesterday. That move took the price below a swing area between 132.24 and 132.479. However, when the price move back above the swing area during the US session yesterday, sellers turned buyers and that momentum has continued into today. In the morning

The price of WTI crude oil futures are settling at $92.09. That’s down $-2.25 or 2.3%. The low price reached $91.19. The high price extended to $94.79. One week ago today, the price closed the week at at $88.53. With the price settling at $92.09, the gain is $3.56 or 4.02%. The low price this

The price of WTI crude oil futures are settling sharply higher on the day at $94.34. That’s up $2.41 or 2.62% on the day. The EIA its latest report raised its global oil demand forecasts.. There is a report that Shell had shut down several oilfields and pipelines in the US Gulf as a result

EURUSD falls to a new NY session low The EURUSD continues to leak oil and wander to the downside. The pair is trading at its lowest level in the US session. Stocks are trading to new session lows. The S&P is moving back toward unchanged. The NASDAQ index is down -53 points at -0.42% at

Nasdaq moves to new high going back to May 4 The NASDAQ index traded above the Monday high of 12855.15. The high price just reached 12860.30 but has backed off to 12847 currently. The index is still up 353.63 points or 2.83% on the day. The next target area on further upside momentum comes in