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Silver Broken Trendline

Silver bearish trend may have ended once we broke the trendline that connects the 2011 highs and all the intermediate highs of this bearish trend. This bearish cycle has lasted almost 4 years and based on my experience any new major trend starts with a trendline breakout of previous trend. We already broke to the upside of the trendline that connects the highs of this bearish trend at beginning of the year(see Figure 1), and not only that but we had a successful retest of th…
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Daytrader21 28 Авг.

Update 1: Silver broke to new lows and it's fading below 14.00. We're still moving in consolidation and I'm not expecting a running market. A retest of the current top range at above 15.60 is in cards. First level of resistance stands at 14.70 which is also a pivot point a break and a close above it should see further upside

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Daytrader21 20 Сент.

Update 2: After a false break below key support level 14.27 and previous major swing low point we managed to get back inside the big range. In the short-term there is scope for another retest of the big figure 15.00 before to see another attempt to break current resistance at 15.55.

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Daytrader21 28 Сент.

Update 3: As expected we broke above the 15.00 big psychological number and managed to find resistance at 15.50. Right now we're trapped inside this tow levels, but current price structure still favors a break to the upside.

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Daytrader21 15 Окт.

Update 4: As expect over the past few days Silver has had an impressive rally and it already reached my target and beyond. Right now the current range in play is between 15.60 which should act as support and on the upside we have 16.30 which is a big pivot level.

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NZD/USD COT Report

NZD/USD has broken key support level at 0.7200 which held the price since beginning of the year and it seems now that the bearish trend is ready to resume. First we also need a retest of the broken support which now is expected to act as resistance. We also have confluence if we draw and connect all the high from 0.7750 high, we have a nice trend line which should act as resistance.
Major Levels to watch:
[list][/list]…
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Daytrader21 5 Июнь

Update 1: The market has not managed to break below key support level and big round number 0.7000 but we neither where able to retest the previous broken support level at 0.7250 which as based on my prediction should happen before the downtrend resume

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Daytrader21 14 Июнь

Update 2: This week the COT has continue to widen again and although technically we broke below key support level and round number 0.7000 a reversal is still in place. Next key support level remains at 0.6900 which is a multi year pivot level.

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Daytrader21 19 Июнь

Update 3: Right now the market is trading near an very big inflection zone between 0.6900-0.6885 which should produce a bounce as the COT extreme is still widening suggesting a reversal may come soon. However we still need a break above the big figure 0.7000 in order to see more upside momentum

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Silver Broken Trendline

Silver bearish trend may have ended once we broke the trendline that connects the 2011 highs and all the intermediate highs of this bearish trend. This bearish cycle has lasted almost 4 years and based on my experience any new major trend starts with a trendline breakout of previous trend. We already broke to the upside of the trendline that connects the highs of this bearish trend at beginning of the year(see Figure 1), and not only that but we had a successful retest of th…
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Daytrader21 16 Май

Update 1: It seems that now the 17.20 previous resistance level once broke it's acting as support and the momentum is starting to build up for the next up leg. Until than we should see further accumulation between 17.20-50 level.

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Daytrader21 22 Май

Update 2: As expected silver is now retesting the previous broken resistance at which is now new support. The 17.00 round number is acting as expected and the market is already inside a small range between 16.85-17.30 with the round number being a central pivot.

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Daytrader21 29 Май

Update 3: Even though we broke back inside the range this may be just a pullback. Right now we're below the key support level 17.00 at the next support level 16.50 which should act as support next week. We'll need a break and a close above 17.00 next week in order for the bullish momentum to come back

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Cable Trendline Broke, But Upside Move Not Over Yet.

Although cable broke the trendline from that originates from the 1.4800 low the current upside move is not over yet. Based on Elliott Wave analysis we have only completed 4 wave so in order for the cycle to be completed we need a final spike up above 1.6260 resistance level(see figure 1). Also at 1.6100 we had a first failure retest of the trendline, market reaction was very mild and currently the market is rallying strong from the 1.5860 support level suggesting sellers are very weak. Also we h…
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Daytrader21 22 Нояб.

Update 1: As expected it seems the breakout of the 1.5880 support level was a false breakout as the momentum has picked up since than and we're now retesting the resistance level of 1.6220. The current up leg that started from 1.5880 has took shape of an 5 wave rally so I'm expecting for now a retrace all the way down to the wave 4 base around 1.6100. We should see an ABC correction

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Decebal 25 Нояб.

Very good!!

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Daytrader21 29 Нояб.

Update 2: We already hit our 1.6370 target, GBPUSD stopped right at that level and for now is capping the upside movement, but the wave E is not finished just yet. we still need a final spike up. Next resistance is 1.6450 from where I'm expecting price to finally start selling of

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Daytrader21 9 Дек.

Update 3: Right now the market seems ranging around our 1.6370 target and as the 5 wave sequence has already completed I'm expecting now an ABC correction before any upside movement

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Daytrader21 14 Дек.

Update 4: As I said the five wave sequence completed at 1.7460 from here on we are in the earlier stage of an ABC correction. Currently wave A is developing and I'm expecting it to find support at 1.6200 round number which previously acted as strong resistance and now I'm expecting to hold as support.If this level can hold that next wave will move again towards the high to retest the 6370 level.

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