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Showing Commentaries 1 - 15 out of 16 found.

Brexit Vote Unlikely to Rescue British Pound

Brexit Vote Unlikely to Rescue British Pound

Our chart of British Pound futures shows why we don't expect the Brexit vote to produce a drastic change in the value of the currency regardless of the decision. Although the Pound could break in either direction from its present area, the Elliott wave patterns for both scenarios suggest the next move will not be large. Even so, traders might find areas to watch for a turn near the levels we...

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Could Brexit Trigger A Domino Affect?

Could Brexit Trigger A Domino Affect?

With the UK- EU vote pending, the questions remain on what will happen. No matter which way the vote goes, I don’t think anyone knows what the end result will be for the UK or the EU. As the debate continues,   my thoughts turn to one the UK’s finest exports, The Clash. “Should I stay or should I go now? Should I stay or should I go now? If I go there will be trouble An' if I stay it will be...

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Brexit And The British Pound

Brexit And The British Pound

The Brexit vote is approaching and the British Pound is moving.  Here’s the important price levels that traders need to know. Click here to watch a video explaining how to read markets using volume at price. British Pound futures (6B #F) have been rallying and have reached resistance at 1.4674 – 1.4771.  A break above this zone would signal a bullish shift and target a move higher to next...

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Key Technical Trading Levels 6.20.16

Key Technical Trading Levels 6.20.16

All of these technical levels have been calculated from both volume-based continuation and contract specific weekly bar charts. Live Cattle (AUG):  the 109.72 -110.20 can absorb selling through July (assuming we open Monday above this important support region), above which 123.87 is attainable within 3-5 weeks where the August contract can top out into expiration, and the broader complex...

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The Psychology Behind “Harmonic” Trading

The Psychology Behind “Harmonic” Trading

Students of Elliott wave, harmonics and GANN will know about the so called hidden pattern of the universe which can be detected in the charts. Traders at large have big issues though relating the theory into workable concepts for their (trading) life. The reason for this is mental compartmentalization The linear mind does not like the idea of simplicity within complexity. Yet this is exactly...

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ETF Alert: Financial Select Sector SPDR $XLF Cracks

ETF Alert: Financial Select Sector SPDR $XLF Cracks

The Financial Select Sector SPDR ETF (XLF) is one of the most widely traded ETF’s each and every trading day.  It’s down 4% in just the last week, -1.5% just yesterday.  So when and where will the losses end?  Let’s have a look. Click here to watch a video explaining how to read markets using volume at price. The zone of support at 22.98 – 23.27, once broken, shifted the bias to bearish and...

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What Is The Fed Looking At Now?

What Is The Fed Looking At Now?

Today, (Wednesday) the FOMC makes their announcement regarding rates.  After this month’s weak payroll report, the market significantly cut the odds for a hike at any time this year.  The quarterly FOMC meetings come with a press conference, and though some Fed officials have vocally called for rate hikes, Yellen is likely to adopt a cautious stand for the foreseeable future.  The Fed’s risk...

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Dollar On Verge Of Confirming A Rally

Dollar On Verge Of Confirming A Rally

Monitoring the U.S. Dollar Index gives us an edge in forecasting turns in paired currencies and sometimes even in precious metals and other commodities. Right now, our forecast is for the Dollar to climb impulsively into mid-2017 or later, which should make it difficult for other currencies and precious metals to advance by much. Based on the Dollar Index's response to a recently tested...

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Can You Replace Your Income Through Trading?

Can You Replace Your Income Through Trading?

One question I often get asked is whether you should live off your trading profits or let it grow? My answer is, it depends… Why is that? Well, it depends on your current account balance, and on your goals. If you goal is to quit your current job and trade on a full time basis, it is probable that you will need to build up your account to a more substantial size.  If a retirement nest egg is...

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Welcome To June The “Baddest” Month?

Welcome To June The “Baddest” Month?

Welcome To June The “Baddest” Month? Convention, tradition, or established patterns are not things the market truly honors. Sure, there are times when those three things come into play, but you can never … rather, you should never count on them.  - Stocks entered the final trading day of May with solid gains across the U.S. and Europe for the month, supported by a 5 percent jump in the oil...

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Profit From Sell-Off In the Yen

Profit From Sell-Off In the Yen

The Japanese Yen has fallen away from the higher resistance level that we noted for readers here in early April, near 0.009360. If price remains beneath that area, then the Yen should be on track to test or fall beneath the lows of 2015. Such a test could happen later this year, and it may happen again – with lower lows – sometime in 2017. If you have been following the progression of our...

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Profit In The FX Market From Brexit

Profit In The FX Market From Brexit

Many investors in the U.S. are focusing on the November elections, but we have another significant global political event in the next few weeks.   The European Union Referendum, which will be held in the United Kingdom on June 23, 2016 will affect world-wide markets, and especially, the currency markets.   Voters will be asked to vote to “Remain a member of the European Union” or “Leave the...

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Are speculators turning bullish on Euro futures?

Are speculators turning bullish on Euro futures?

EURUSD, as expected moved lower last week. It closed at 1.1307 on Friday. I expect this market to keep going lower for now but the downside should be limited. Looking at speculative positions I see this market might be turning bullish in the long term. This week, speculators reduced their shorts by another 13K and their longs by 11K. This group have been dumping their short positions since...

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Cautiously Bearish On The Canadian Dollar

Cautiously Bearish On The Canadian Dollar

The Canadian Dollar is relatively more sheltered from the "inverse effect" that causes other heavily traded currencies to decline when the U.S. Dollar rallies. For that reason, we are tempering our generally bearish forex view with a special caveat for the Canadian Dollar. It should decline, but not as forcefully as we expect other currencies to decline. The long-term Elliott wave pattern in...

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EuroSTOXX Upward Correction Finished?

EuroSTOXX Upward Correction Finished?

Along with the German DAX and the London FTSE, for which we posted charts in January and March, we also like to monitor the EuroSTOXX 50 Index for a view on the health of European equity. The Euro STOXX 50 Index is composed of 50 of the most liquid stocks throughout the Eurozone and comprises a majority of the market capitalization in the Eurozone, making it a good barometer for the zone as...

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