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wallstreett1984
Jan 07 2014 at 00:12
26 posts
Dow finds support at 16325, its a key support because:

 - its 23.6% FIBO retracement level for uptrend from 15610 to 16540
 - We find 55 moving average on 4H Chart

 So far it found support twice here




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wallstreett1984
Jan 07 2014 at 00:12
26 posts
A Beautiful clear downtrend for GOLD on the Daily chart from 1434 (28.8.13) to 1180 (31.12.13)

 The high of today at 1250 is a key resistance level, if it manages to break it we will have 2 new reversal signals ( cross above 55 moving average + trades outside downward channel)

 The first reversal signal was the double bottom we saw at 1180




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wallstreett1984
Jan 07 2014 at 14:28
26 posts
How to spot Trends and their Reversals

EURUSD on daily chart is clearly in an uptrend as we see it still trading within its ASCENDING CHANNEL. However we do see reversal signals.

- Double top pattern at 1.3800
- Price recently dropped below 55 Exponential Moving Average
- MACD drops below 0
- Momentum 22 drops below 100




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wallstreett1984
Jan 07 2014 at 23:43
26 posts
EURUSD H1 CHART




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wallstreett1984
Jan 07 2014 at 23:48
26 posts
wallstreett1984
Jan 08 2014 at 14:37
26 posts
Please submit requests for an instrument you would like to be analysed

wallstreett1984
Jan 09 2014 at 08:48
26 posts
Is this considered a double bottom (as H1 candles failed to close below 1.3560 support) or successful new trend low at 1.3550




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wallstreett1984
Jan 09 2014 at 08:56
26 posts
GBPUSD H1

Bad sign for current GBPUSD uptrend on HI as we see the formation of double top on 1.6470, with big drop on last candle




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wallstreett1984
Jan 09 2014 at 09:30
26 posts
OIL FEB Approaching previous downtrend low 92.00, good opportunity to buy at such a strong support with stop-loss a bit below that level?




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wallstreett1984
Jan 09 2014 at 09:37
26 posts
Good economic news comes out from the US

This should theoretically cause a rise in the dollar(good for the economy good for the currency), but the dollar is usually used as a safe haven, so when good economic news comes out investors feel optimistic and want risky assets with better returns than the dollar, so they sell it and buy other stuff, so it goes down.

So the lesson is good US economic data has an UP and DOWN effect on the dollar. Go figure

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