Gold & Silver

Leave it to my good ol' friend the beard - Ben Bernanke....Central Printer in Chief who today went to the printing presses.

As expected, Gold and Silver pulled right back to role-reversal levels before shooting higher on the announcement today.



In the process, they both formed with…

AUDUSD

Taking a more quantitative approach to the Aussie today;

After selling off 13 of the last 19 days and shedding 450pips in the process, the Aussie took back almost three days of losses with an impressive bullish engulfing bar. This is the fifth largest bull bar on an open to close basis for the year.



To…

EURAUD

Today the EURAUD has formed a daily close and Kumo Break (to the topside) for the first time in exactly two months  Virtually all Ichimoku components are bullish with the chikou having crossed the price line, tenkan above the kijun, the kumo break, thus the only things left are for the tenkan and kijun to pierce through the kumo along with the chikou as…

EURUSD

Since the Euro ended last week with a false break, over the last two days the regional currency formed an inside bar, while today posting a combo pin bar.  What I find interesting about these two is how the…

AUDUSD

In my last weeks market commentary, I wrote about the Aussie breaking the Kijun-Sen and closing below it on the daily charts for the 1st time, suggesting short term bearish momentum should take over.  This is exactly how it played out with the pair selling off 3 of the next 4 days while even rejecting off the Kijun.…

Silver

As the snoozefest continues with investors pulling out prior to the Jackson Hole meeting this Friday, breakouts are an endangered species till then while small ranges are dominating.  Tis no surprise that an daily inside bar formed on almost everything, but the one that is more notable is the one on…

AUDUSD

Selling off 8 of the last 12 days, the Aussie has been hemmed in by the Tenkan since the 14th of this month which is quite unusual considering its been in a solid uptrend since the beginning of June.  I commented about this last week on how I suggested a break below 1.0400 and the channel bottom (held in…

GBPUSD

Now that the summer months are coming to an end and traders are coming back to the desks, it seems the foreplay of the recent consolidations is over and things are loosening up. First it was Silver to break the stalemate on Monday, Gold on Tuesday, and now the pound today, clearing a major hurdle and resistance that has held since mid-May.

The clearing of the resistance came via a strong …

Gold

Following in the footsteps of Silver, Gold broke through a key resistance level, clearing and closing above the $1630 level which had not seen a daily close above it since the 1st week in may.  The breakout also came on the heels of some pre-breakout tension or pressure which led to a strong breakout…

Silver

Being the little brother of the precious metals (to Gold that is), Silver broke the stalemate (and malaise) as it broke and closed above the key $28.36 resistance level.  And she arrived - doing so in impressive fashion with a strong breakout bar and good follow through,…

EURUSD

For the last  7 days, the price action for the Euro has been stuck inside a 125pip range playing see-saw with the bulls and bears changing color almost daily.  This could be due to typical August / low volatility, investors waiting for their CB's to hit CTRL+P and help Bank Executives save the ailing banks and…

AUD/USD

Just wanted to do a brief post on this ichimoku kumo break setup for the AUD/USD 4hr chart. I have always talked about many times that when a kumo break occurs with a flat top/bottom ahead, price will often pullback to that flat top/bottom giving you an ideal setup to trade the kumo break and reversal play.

This is a textbook example of a …

IBEX 35 (Spanish Bolsa/Stock Exchange)

Wanted to mix things up a bit with a different instrument today - this time the Spanish Bolsa or Ibex 35 which has broken a key resistance and double top at 7224 which I talked about on my twitter and facebook accounts ahead of time.

What's interesting to note in the …

AUDUSD

Yep, another day on the Aussie which happens to be one of my favorite pairs to trade daily. Yesterday I talked about how the impulsive price action selling on the pair, combined with a bearish engulfing bar, clued me into further selling for the pair.

As many of you know from my …

AUDUSD

Sticking with the Aussie today, which I've been bearish on since Sunday - the pair sold off yesterday and formed a bottom off 1.0496 via an intraday pin bar setup.  But notice how the reaction off said bottom was corrective while the selling price action was impulsive?  This clued me into the fact the pullback was not heavily bought up by the institutions, and to look…

AUDUSD

As I talked about in yesterday's price action & ichimoku outlook, the price action for the Aussie communicated it was likely running out of steam and the pair may be rolling over. Although the pair hasn't made major ground or broken the key support level at 1.0496, it did form a daily …

*I've been gone for 5 weeks on vacation but am now back writing from command central so expect articles daily from Sun-Thur from here on out along with bonus articles on Friday.

AUDUSD

Since the 20th of June, the Aussie has been in an upward sloping channel which has been rather orderly making a touch on the top and then venturing to the bottom....until recently. Lately, it has been hanging around the upper band of this…

EURUSD

After forming a new yearly low last week, the pair produced its strongest 3 day climb (from top to bottom) for the entire 2012 year which is impressive considering the economic situation is far worse than it was in 2011.  I suspect this was more of a short squeeze than anything, and am really just waiting for the shoe to drop (any) which means either Spain asking for another bailout and admitting they are broke, Greece leaving the EZ, or Germany not…

For all those traders interested or currently trading Ichimoku, you will not want to miss this article.

Although I am heading out in a few hours with my girlfriend to Harbin Hot Springs, I wanted to write a brief introduction to Ichimoku Number Theory as there has been a lot of questions (and confusion) about ichimoku settings, time…

AUDUSD

After posting a strong 3 day pullback, the Aussie found strong support at the kijun sen support forming an outside bar in the process.  This also coincided with a short term channel support which has now played out 3x on both ends.  Although the Kijun is currently flat, it held price and combined with the tenkan climbing, I am expecting more…