Recent content by DannyBly1

Friday November 7th, 6PM: http://www.meetup.com/Chicago-Traders/events/214069802/

A hammer bullish reversal pattern formed on yesterday's USD/JPY chart. Resistance overhead around 94.373. This reversal is taking place within the context of a strong uptrend on the daily and weekly charts. Keep in mind some important fundamental factors are in play. A two-day Bank...

I think you're right in that in the case of an ascending triangle you should expect the breakout to the upside to have more follow through because you are in the context of an uptrend. However, I don't think it's bullish until price breaks out above the horizontal trendline. A failure to...

Looking at the daily GBP/JPY chart we can see that it found resistance at the horizontal trendline of it's ascending triangle pattern. The divergence between the uptrend in price and the downtrend in the RSI momentum oscillator suggests a possible bearish reversal. Chart courtesy of Oanda

Agreed, just above Friday's high...

Looking at the daily chart a bearish shooting star pattern formed on Friday: Zooming out we can see some major trendlines that could form support: Also worth noting that MACD crossed the zero line from positive to negative...

Gold back at 6-month highs after Bank of Japan stimulus - Looking at the daily chart we can see that Spot Gold (XAU/USD) is trading right at resistance of the major downtrend line and also that MACD is close to the zero line. Chart courtesy of Oanda

Gold is trading lower for a fourth consecutive day amid concerns over the Eurozone Debit Crisis. Looking at the daily chart we can see that it has slipped below the 'line in the sand' 200 period moving average on the daily chart: Chart Courtesy of thinkorswim Price is not far from...

The Australian Dollar sank early Monday as it's biggest trading partner China said it will lower its target for economic growth to 7.5% this year, down from 8 percent, the lowest goal since 2004. Chart Courtesy of thinkorswim Meanwhile, the perceived safe haven of the the Japanese Yen...