Something else to ponder, the S&P futures chart is in the process of developing a candle pattern called "Falling Three". This is a bearish continution pattern. In this pattern, several days of bullish activity are then engulfed by one single large ...

XAU/USD Spot Gold

A little something to keep an eye on.... recently gold appears to have been responding more to the fate of the Euro rather than the USD on UCHF. EU may have a strong recovery early next week (when the panic is over), while UCHF may just consolidate. ...

XAU/USD Spot Gold

It should re-test the trendline at some point. Possible short @ 1350-1355 (21 and 55 emas likely to put further south pressure and strong resis at that level) and watch very carefully on the next TL test.

XAU/USD Spot Gold

Weekly trend line support here? Scenario - USD does not hold here, USDX falls over, so does UCHF and the majors go for a north romp, while gold hits the panic button north as UCHF threatens breaking the double bottom. Not liking the UJ retrace or ...

XAU/USD Spot Gold

Tokyo opens in 15 mins. hmmm wonder what the Nikkei will do with household spending in the toilet and the S&P downgrade. they're not likely to be in a Yen buying mood.

USD/JPY Discussion

UJ has a bull flag/pennant chart pattern on the daily that has now confirmed. Price is presently resting on the upper edge of the flag. Inverted hammers x 4 on the 4H plus 200 ema support. As bull signals go, it doesn't get much clearer than this.

USD/JPY Discussion

It may be possible that instead of heading into the toilet, if the market looks shaky, gold may keep it's head up. What's been bothering me about the PA on gold today is that the bull traffic didn't actually hit any of the recognisable short entry ...

XAU/USD Spot Gold

btw, the PA on UJ is a very significant development for the whole of market, every last professional trader will know what this chart pattern means (i.e we are likely in for a largish dose of bear traffic on the majors) take care if going long ...

AUD/USD

yw Alki, t'was one rip-snorter example hope other traders will now know what a bull flag/pennant looks like and what it does price on UJ has broken out of the bear channel "flag" and should keep tracking north from here for quite some time ...

AUD/USD

Hi Chilly, A bull flag or bull pennant is a chart pattern that has a bull "post" followed by some bear traffic that forms a "flag" or "pennant" shape. Typically in these patterns, the price action resumes a strong north bound journey. The UJ daily ...

AUD/USD

The jungle wire has it that the ACB's (Asian Central Banks) are bid (selling) EU @ 1.3720. If they are in charge of the shop this afternoon, we may see some down traffic. And, gotta say, I'm liking UJ as a bull flag.

AUD/USD

Watch for a possible dump after 5pm swaps, AU, NZD and gold.

AUD/USD

Yes. Most interesting that the dollar is struggling to find any bullish support at this particular juncture. If FOMC doesn't deliver the dollar a boost, everything else will likely go on a north binge. Tho I would be keeping an eye on UJ when London ...

AUD/USD

Yes, Razor, timing is everything in this market. This week, this month, May sell-off, next year? Happy Oz day, oi oi oi

AUD/USD

What happens on a daily basis doesn't matter to you? It may be helpful to put a corollary on your posts to that effect and perhaps a statement that your views are a long term position trader perspective only; that you are only interested in the ...

AUD/USD

Ely, do you know what the difference is between experienced traders and inexperienced traders? Inexperienced traders have strong opinions. Experienced traders have fluid opinions. Inexperienced traders would rather lose money than lose their ...

AUD/USD

Liking it for a major dose of short. FOMC on Wednesday and UCHF may be putting in a right shoulder here + we have BOJ sabre rattling about intervention in the Yen if the Yen bulls wanna try it on. Such a noticeable lack of buying support in recent ...

XAU/USD Spot Gold

Rather suspect we may be going back up, AU 4 hour has 2 inverted hammers and some nice ema compression, plus it has held up over the up trend line + EUR/NZD chart herewith (resistance, the Kiwi may rise from the dead today) + EUR/AUD has a double ...

AUD/USD

EUR/AUD is breaking out over the weekly trend line. EU may well put in another wick on the daily, i.e. retrace to the high of the last session, then sell off again (or not). EU does have a truck load of resistance @ 1.3550-70 running in to the 200 ...

AUD/USD

Well, that was an interesting set of numbers out of China.... not what market was expecting, (market is likely pondering the validity of this)... so what now. Euro may move higher during Asia, but when risk is off, the risk sensitive pairs (GBP, AU, ...

AUD/USD