Silver prices spent the last year and a half locked between $19 and $15.19, unable to choose a direction and leave this range. The precious metal is still in its boundaries, currently trading around $17.28, but from an Elliott Wave point of view it looks like we are finally going to see a breakout. Bullish…
Fibonacci Support Sends Nifty 50 to New High
In our last article about the Indian Nifty 50 index, published on May 19th, 2017, we shared an opinion that the price “is probably going to reach the 10 000 mark from now on. Maybe even 10 500.” Eleven months later, the Nifty 50 is trading near 10 550 after reaching 11 171 in late-January,…
Trade War Fears Shrugged Off by USDJPY
Less than a month ago, USDJPY was trading below 105.00 after plunging to 104.64. The media hurried to explain the dollar’s weakness against the Japanese yen with the looming trade war between the United States and China. Today, a trade war between the two largest economies is a near certainty, after China threatened to fight…
USDCAD Selloff: Non-Farm Payrolls Just an Excuse
The last time we wrote about USDCAD, it was hovering around 1.29, after a decline from 1.3125. In a video, published on March 28th, we demonstrated how Elliott Wave traders got ahead of the bearish reversal that occurred a week earlier. Two weeks later now, the bulls are yet to find a way to fight…
WPP Stock Bulls Ready to Fight Back
On July 10, 2017, WPP stock was trading above $101 a share on the New York Stock Exchange, down from its all-time high of $123.33 reached in May, 2015. Despite being down 17.9% already, the Elliott Wave Principle suggested the stock is likely to “lose 30% from current levels”, so we wrote an article to…
Bollinger Bands Basics
Liked for their attractive appearance and easy interpretation, Bollinger Bands are in the top three most popular indicators. John Bollinger developed two bands that reflect volatility and are located over and under a moving average. To determine volatility and measure it, Bollinger uses standard deviations, which change with the up and down movement of volatility.…
Greed Not to be Mixed with Trading
Almost all people who go into trading are at least partially driven by greed. Maybe not in a bad way, maybe not in excessive amounts. But it is there. This is natural and is part of our human psyche. But it can lead to disastrous consequences if you let it drive your decisions and trades.…
Canadian National Railway Afraid of NAFTA Breakup?
President Donald Trump has repeatedly criticized the North American Free Trade Agreement between Mexico, the United States and Canada. The White House recently announced that the deal would need to be renegotiated to include better terms for the U.S. What that means exactly remains to be seen, hopefully within the next two weeks, but given…
McDonalds Stock to Conquer 180 a Share
Despite declining revenues in the last several years, McDonalds’ profits are still on the rise. The company’s stock was also climbing until late-January 2018, when it reached an all-time high of $178.68. But instead of going for the $180 mark, the bulls could not maintain the positive momentum. A little over a month later, MCD…
Trading with the On Balance Volume Indicator
On Balance Volume (OBV) is a volume-based indicator that aims to measure the pressure buyers and sellers exert on the markets. Its approach is to add volume on days that the price rises and subtract volume on days that the price drops. Developed in 1963 by the chartist Joe Granville it was probably the earliest…
Foot Locker’s Death Greatly Exaggerated
In about six short months between May and November 2017, Foot Locker lost over 63% of its market capitalization. The retail crisis did not spare FL stock, which crashed from $77.71 on May 10th to $28.42 by November 8th last year, following misses in earnings and revenue in the first two quarters of fiscal 2018.…
EURCHF Vulnerable to Bearish Attacks
EURCHF fell to 1.1447 on February 8th, but has been steadily recovering ever since. By March 28th, the pair was already testing the resistance near 1.1800, but could not breach it from the first try and fell to 1.1732 earlier today. Should we expect the next attempt soon, or maybe the bulls would need more…
DJIA Bulls Still Alive After Two Months of Slaughter
DJIA bulls have not been in a good shape during the last two months, to say the least. The index registered its all-time high of 26 617 on January 26th, 2018, but has been in tailspin ever since, falling to as low as 23 360 on February 9th. After a swift but short-lived recovery to 25…
Volume Trading Basics | Forex, Crypto, Stocks
Volume is one of those trading terms that can be a bit confusing. What does it represent? Is it an indicator? How is it calculated? How do you interpret it? We’ve got all the answers here. Let’s tick off the definition: if one buyer and one seller perform a transaction at an agreed upon price…
WTI Crude Oil Knocking on a Major High’s Door
Between January 25th and February 9th, WTI crude oil’s price plunged from $66.62 to $58.06 a barrel, losing 12.8% in just 12 trading days. What the bears did in just over two weeks, the bulls needed a month and a half to recover from. Finally, oil prices climbed to $66.52 earlier today, following last week’s…
