Although I missed shorting Netflix (NFLX) and Tesla (TSLA) these last few weeks, focusing on trading commodities and the equity indices and VIX, I thought it’d be worth profiling the similarity in the NFLX weekly chart analyses I shared on Tradingview.com a month back (https://www.tradingview.com/v/UjIECDyz) to TSLA’s (https://www.tradingview.com/v/A9hUXXuz) also posted a month back. Although IRead More
Month: October 2014
EURUSD, AUDUSD, GBPUSD Consolidating Rally off Bottom
Euro Philadelphia Index Weekly The Euro index surged higher yesterday, and as can be seen in the weekly chart below, has 130 in its crosshairs. Before hitting this next key target, consolidation today is in order after the bounce from 125. Refer to the shorter timeframe EURUSD charts below for a clearer picture of thisRead More
Commodities at Various Stages of Consolidation Before Resuming Rally
Raw Sugar (ICE SB Mar15) Weekly/Daily/4hr/Hourly SB has completed its basing these last few sessions following a pullback late last week, and is now resuming its march higher. On the daily chart, SB appears to want to target the upchannel resistance at roughly .175. On the 4hr chart, the ascending wedge drawn suggests upside mayRead More
Soybean (ZS) Weekly/Daily/4hr Charts Bullishly Aligning
Soybean (CME ZS Nov14) Weekly/Daily/4hr/Hourly ZS rallied strongly yesterday, breaking above its descending wedge resistance (as seen in the weekly chart) along with the downchannel resistance (as seen in the daily chart). On the 4hr chart, it is currently flirting with breaking an ascending triangle resistance. With its weekly, daily and 4hr RSI and MACDRead More
Wheat (ZW)’s Weekly/Daily/4hr Charts Aligning
Wheat (CME ZW Dec14) Weekly/Daily/4hr/Hourly ZW rallied ahead of the WASDE report last Friday, and only pulled back marginally following the release. It continues consolidating the Friday gains in the Asian session, and appears set to resume upside shortly. ZW is just about to break above the descending wedge resistance line (as seen in theRead More
Pending Volatility Spike on Corn (ZC), Wheat (ZW), Soybeans (ZS) Post-Wasde
Cotton (ICE CT Dec14) Weekly/Daily/4hr/Hourly CT continued selling off yesterday after hitting a key resistance level (former ascending triangle support as seen in the daily chart), but found support at the 50% Fibonacci retracement of the rally from .61 to .653 (as seen in the 4hr chart). Its weekly and daily RSI, Stochastics and MACD,Read More
Gold (GC), Silver (SI) Weekly/Daily/4hr Charts Bullishly Align
Gold (CME GC Dec14) Weekly/Daily/4hr/Hourly GC has made a nice bounce this week off of downchannel support (as seen in the daily chart) and is now at the same channel’s resistance. On the weekly chart, you can also see GC having successfully bounced off of major support from its Dec/Jan lows. Bullishly, the weekly, dailyRead More
Commodities Taking Breather Before Resuming Upside
Cotton (ICE CT Dec14) Weekly/Daily/4hr/Hourly CT pushed further up yesterday, but may tire today following signficant gains over the last few sessions. It now sits near the middle of a channel just under an ascending support turned resistance line (as seen in the daily chart). Although CT’s weekly RSI, Stochastics and MACD are all turningRead More
Commodity Laggards Silver (SI), Gold (GC) Bottoming
Although I feel silver (CME SI Dec14) and gold (CME GC Dec14) are bottoming, I haven’t profiled their charts in today’s list as I still feel their trade setups offer slightly less favourable risk:reward versus my trade ideas presented below. As usual, I try listing as many tradable setups (which I consider trading during theRead More
Corn (ZC), Wheat (ZW) Weekly/Daily/4hr Charts Bullishly Aligning
Corn (CME ZC Dec14) Weekly/Daily/4hr/Hourly ZC is at the end of a descending wedge now (see weekly chart), and its weekly, daily and 4hr RSI, Stochastics and MACD are all sloping up and pointing bullishly. On the 4hr chart, ZC has broken above a descending channel resistance line, and next resistance is only slightly aboveRead More