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3087
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The Dow Jones has formed a lovely hammer off the short term uptrend to day which should be the 4th wave of this sequence.Note how it was also close to the 23.6% Fib and the hamme low formed at exactly the level of the candle bodies of the two earlier dojis.I'm targeting c. 16178 for the top of this move before a correction down towards, but not below, 14550. Original link...
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6064
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A very simple price only chart here and this is thanks to Remo who runs www.chartsview.co.uk who gave the heads-up on this during the live trading chat on his website today.What we have is a backtest of the 123-low breakout level. These trades are actually even better than simply trading the 123-low breakout if they work out because the resulting move, again if it works, ought to be stronger than the original breakout where doubt still remains and consequently we see the drop back to the breakout level.Normally I'd have a stop below the higher low but the doji offers a tighter option below 79.5p. Original link...
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3040
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Rather than try and catch the bottom on POG I'd planned to go long on a 123-low breakout but completely missed it due to being busy with other things. We can see the results, though, with a healthy number of pips to anyone who did take that trade.The thing to look out for now is that RSI. If it reverses off the trendline then it might be worth taking some profit. If it breaks through then it should indicate further rises but beware that tricky 123p level. Personally I think CNR or KAZ offer better risk reward than POG for those not already long here. Original link...
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4908
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I thought I'd start this analysis with a really long term view using the daily chart as it shows the power of RSI trendline very nicely. We can also see the big bearish divergence at the recent high.What's interesting here is that this RSI uptrend support was hit again only a couple of days ago. In the past this has been the trigger for some decent rises but you never know when these trendlines are going to fail so is there anything else to support the hypothesis of a rise? In this near(er) term view we can see that price is at uptrend support and the 61.8% Fib as well as having formed a double inside bar pattern so there should be a decent move one way or the other. You can just make out that long term RSI support at the bottom of the chart too.I would definitely have...
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3741
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Here we have today's closing daily chart showing quite a few trendlines, supports and resistances.The first thing to note is that it closed back inside the uptrend support from the 129.25p low so that support remains in tact for now at least.I've also slightly re-drawn the downtrend resistance from the 260p high to take account of the recent 184.75p high though I still believe that a close above 180/2p (which we haven't yet had) is more important.As can be seen, support was found today at the original breakout point of this move up which was 158p and the fact that price closed back inside the uptrend, having dropped a fair way out of it, it bullish IMHO.Generally there seems to be two main ways of viewing the whole post-126p sequence: the camp that views at as a big bearish wedge which appeared to be the source of the resistance at...
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