Блог Daytrader21

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Gold Price Action Reminiscence of 2013


If you haven't seen up until now my last update on Silver I strongly suggest to check it out here: Metals Outlook. Silver Leading The Way Down because that's key to understand why gold is going to follow silver and break lower.
In my last update about gold, and you can check that blog post here:Gold Double Inverted H&S Bottom? I was arguing that on the daily chart we may be developing an inverted H&S pattern which was never confirmed as we need a break of the neck-line. Howe…
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VictoriaVika avatar
VictoriaVika 3 Окт.

Fell down each single day here, in my country... Gold price suppression is undertaken through naked shorting of the metal by bullion banks?

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NZD/CHF Trading Box Effect

Nothing much has happened with NZD/CHF in last few years as we are moving in an never ending ranging zones. On the weekly chart (see Figure 1) you can notice this trading range boxes on top of each other which are characteristic in this range environment and which clears further current price structure. Usually the top/bottom of previous range box provides support or resistance for the next trading box as old resistance has become new support and vice versa. But there are times when price do…
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Daytrader21 avatar
Daytrader21 3 Авг.

Update 1: Nothing much has happened and the sellers are still in control we need to test the 0.7600 level before going back up again. if we manage to stay below 0.7750 the sellers will be still in control only a break and a close above that resistance level will suggest otherwise/

Daytrader21 avatar
Daytrader21 9 Авг.

Update 2: As expected the momentum keep pressing down and we're now only 30 pips away from our target. We' still have to touch 0.7600 the middle of the 0.7750-0.7500 box. Right now 0.7700 remain key resistance level so we may see a retest of that level before a final spike down

Daytrader21 avatar
Daytrader21 16 Авг.

Update 3: Nothing much has happened since my last update except the fact that new we have 2 small boxes (congestion zones) on top of each other and as previously said 0.7700 has indeed stopped the upside momentum. We still need a final spike lower before to take in consideration any significant upside movement

Daytrader21 avatar
Daytrader21 24 Авг.

Update 4: although we already hit our target and had a rebound from there, we're still in a tight congestion one between 0.7700 resistance one and 0.7620 support one and until either of this 2 levels gives up we should expect further consolidation. as I said in my last update we still need a final spike lower to make  "v" shape type bottom.

Daytrader21 avatar
Daytrader21 30 Авг.

Update 4: As expected from preview update nothing much has happened and we further consolidated as per my projection. The structure of current wave suggest further downside movement and a break below previous Friday low is in the cards for Monday. Be aware of a break below 0.7648 as Elliot Wave suggest this move should develop 3 waves to the downside but so far we only managed to develop wave A from 0.7875 high and wave B as form of consolidation between 0.7700 and 0.7600 support level

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NZD/CHF Can't Escape from Current Range

NZD/CHF is still stuck in a trading range and as recent price action suggest we can't see an escape from current consolidation not unless we brake lower. However the momentum suggest that we should see a break above current trading range. In Figure 1 is the weekly chart of NZD/CHF which shows 2 clear trading range boxes and based on my own experience usually price is going to retest the resistance of first range box before going lower. Also in the last few weeks we can see how each low of the w…
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Daytrader21 avatar
Daytrader21 21 Апр.

Update 1:So far as my prediction said the 0.7500 level has been keeping the market from falling even further. The move towards our 0.7500 level was in a 3 wave move which is corrective and we should see this level hold. We don't have much resistance to the upside not until 0.7700 level so we should see momentum start accelerating. 

Daytrader21 avatar
Daytrader21 7 Май

Update 2: So far it seems that the upside momentum is fading away and we need the 0.7500 round number support level to hold for our trade to be still valid. If this is wave 2 than 0.7500 level should hold and we should se momentum to start picking up and develop wave 3.

Daytrader21 avatar
Daytrader21 17 Май

Update 3: The momentum has already start picking up as per my last update and although we fade away after we made a new swing high above 0.7730 and we even hit our target at 0.7750 which was actually the high. But this is a good thing as we need for now to establish another base with support at around 0.7600 before another attempt to break higher.

Daytrader21 avatar
Daytrader21 24 Май

Update 4:AS expected we're now consolidating around 0.7600 level making the base for another attempt to push higher. The momentum is still in our favor so we should see in coming days another attempt to hit our target at 0.7750

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EUR/CAD Uptrend Intact

EUR/CAD is following the path of USD/CAD which confirms that the current bullish trend will have more upside legs. In Figure 1 we can have a look at the bigger time frame the Weekly chart which shows us a clear up trend and the fact that we have just broke away from a multi year consolidation
  • Figure 1. EUR/CAD Long Term View (Click on the picture to enlarge).
In Figure 2 we can have a look into the more recent price action. As the trend develop itself we need this periods of consolidations like t…
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Daytrader21 avatar
Daytrader21 14 Март

Update 2: The range have been extended to the upside until big round number 1.5500 which has provided a good resistance level and should cap any upside movement. To the downside we still have as support the 1.5100 level. Based on elliot wave we have formed a raising wedge which must complete a 5 wave sequence, so far we have made only 2 waves so we should expect further consolidationhere

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Daytrader21 23 Март

Update 3: After a false breakout above 1.5500 where many stops were tripped we should see now EURCAD moving down and close near to our target. Strong support lay down at 1.5300 right near our target and we need a close below that level.

Daytrader21 avatar
Daytrader21 30 Март

Update 4: As per my last update we indeed broke and close below 1.5300 support level and momentum start accelerating to the downside and we even reached our target at 1.5220. After this big impulsive movement market should take a pause and see some type of consolidation between 1.5240 resistance level and 1.5160

Metal_Mind avatar
Metal_Mind 31 Март

Very good analysis buddy!

Daytrader21 avatar
Daytrader21 31 Март

As I'm writing this update we're only 2 pips away from my target of 1.5220 and we're only few hours ahead of the deadline. Next support is at previous day low at 1.5170 and resistance is previous day high at 1.5260

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Cable update

I've been bullish on cable since last year I haven't changed my opinion and will not change it for a while now, until the market will prove me wrong I'm going to stay on the long side. But that doesn't mean there will be no selling opportunities, quite the opposite you will see that as we're going to move upwards there will be plenty of pullbacks where you can make money.
  • Figure 1. GBP/USD Forecast

If you have been trading for a while you will noticed that GBPUSD has a unique behaviour a…
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Why are XXX/JPY Currency Pairs Rebounding?

Last week I've been giving out my own analysis on the yen pairs,arguing that we may see a rebound in the XXX/JPY currency pairs, you can find my blog post here: Still Confused about XXX/JPY Sell Of? What's next My whole analysis was around the point that Nikkei index which was at an important pivotal point is about to resume the uptrend and thus dragging the XXX/JPY pairs in the direction of the main …
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The Hollywood Indicator


Following the success and the popularity of my last blog post on trading movies pattern I've decided to take this one step further. You can find this blog post and the chart that I'm speaking about here:"The Wolf of Wall Street Movie Review". It was a chart showing the pattern between Wall Street movies and the Stock market crash.
This time we're going to look at every Wall Street movie ever made and this time you will see that Wall Street movies not only that have predicted some of the most s…
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Jignesh avatar
Jignesh 1 Февр.

Wow what an interesting read! I was just saying today that I've had several people asking me recently for "stock tips" that know nothing about markets. My theory is that the FED has effectively taken the "fear" out of the markets with stimulus. I like the message of your blog - When the general public gets so excited about the markets (and start making movies!) you know the end of the 5th wave is near.

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USD/JPY Time for Some Consolidation

In Figure 1 you can see the USD/JPY quarterly chart, and being able to see the bigger picture it gives you another perspective that USD/JPY has not gone up as much as you would have thought, and that it's just the beginning of a multi-year bull market.
  • Figure 1. USD/JPY Quarterly chart.
But at the same time we must look at price action as well so you may ask yourself what's next for USD/JPY as you look on the price action. Yen is already down 17% versus the dollar so far just for this year. In F…
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ilonalt avatar
ilonalt 26 Янв.

agree with you

Daytrader21 avatar
Daytrader21 15 Февр.

Update 1: As expected we headed lower and retested the 100.50 level which was a strong resistance in the past. We should now wait and see price retest the highs at 105.00 making a double top before to continue back down and retrace more

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How Fractals can Explain Market Movements


Although I'm using many tools to forecast the market by far the most interesting approach I'm using is Fractals. There are many ways to skin a cat and that certainly applies to market analysis methods as well. There are no guarantees when it comes to defining price movements but in my humble opinion the most interesting approach a trader can apply is the philosophy that a market is fractal in nature. Fractals not only that can explain price movement but it can give you a road map, so to speak, …
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2014 FX Market Outlook - JPY (part 1)

I'm going to give out my Fx Market Outlook for this year and I'm going to start with my favorite currency pair: Japanese Yen. It will be a series of blog post because I want to take the time to go through all the major currency pairs and give my personal outlook for 2014.
We know that currently the YEN pairs is all about Abenomics market policies. The "Abenomics effect" have had a huge impact to revive Japan's economy, strengthening consumer consumer spending. Although many have doubted the mark…
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gmoney7 avatar
gmoney7 1 Янв.

Very comprehensive...nicely prepared...All the very best to you...

HOANG_MAI_NHI avatar
HOANG_MAI_NHI 2 Янв.

very good job

Daytrader21 avatar
Daytrader21 2 Янв.

Thank you guys, much appreciated

Metal_Mind avatar
Metal_Mind 2 Янв.

Nice buddy. On every blog i learn something new!! this needs to be tweeted!!!

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