Tag Archives: double top

Microsoft – Double Top Potential

I may be a bit early here, but with the US share markets looking a little shaky over the past week, Microsoft looks as though it might be a candidate for a double top set up.

Rate this:

Posted in Market, Shares, Stocks, Trading | Tagged , , , , | Leave a comment

Timing the Yen reversal with MACD

CAD: JPY looks like a chart with potential for a major correction. Faced with an uptrend that’s been the proverbial freight (or perhaps bullet) train it would seem prudent not to take it on just yet. That said, the obvious supports are a long way below the market at … Continue reading

Rate this:

Posted in Forex, Market, Trading | Tagged , , , , , , , , , , | 3 Comments

Iron Ore Chart – Update

Last week, I posted a blog discussing the outlook for iron ore and RIO Tinto. Iron Ore is now breaking down below the double top support outllined in that post. Spot prices in this commodity are a key driver not only for major resource stocks … Continue reading

Rate this:

Posted in Commodity, Trading | Tagged , , , , , , , | 6 Comments

Dax – Double Top

Despite a couple of big selling sessions this month the German 30 CFD, like the Australia 200 has clung on without breaking major support. However, yesterday’s big reversal candle leaves what might be a double top. This could make the next couple of … Continue reading

Rate this:

Posted in Market, Shares, Stocks, Trading | Tagged , , , , , , , , | 4 Comments

EUR:CAD sell trade – adding to the position and changing exit strategy.

With trend following strategies, most wining trades will be held through at least one or 2 minor corrections.  As the trend starts to develop there are often opportunities to take one or more of the following actions: Add to the position with pyramid staking strategies Move the … Continue reading

Rate this:

Posted in Forex, Market, Trading | Tagged , , , , , , , , , | 2 Comments

AUD: NZD – Double Top

This chart has been drifting for a couple of days after a sharp rally last week. Although it may be a bit too soon to place a label on the pattern formed by recent sideways action, it’s starting to look like one of … Continue reading

Rate this:

Posted in Forex, Market, Trading | Tagged , , , , , , ,

EUR: CAD – sell on RSI failure swing

Regular watchers of currency charts will be aware that the strong rally in most Eurodollar pairs has peaked in recent weeks. The Canadian Dollar has been late to the party, but the RSI is giving a clue that the Euro may finally be about to weaken against the CAD as … Continue reading

Rate this:

Posted in Forex, Market, Trading | Tagged , , , , , , | 3 Comments

Silver – Double Top

I’ve outlined an approach to profit targets and stop losses on the chart below for those readers interested in following progress on the double top pattern I discussed in my blog on 12 October.

Rate this:

Posted in Commodity, Trading | Tagged , , , , ,

Silver – close to triggering a double top sell

Precious metals have struggled to move past the highs reached just after QE3. It remains to be seen whether they are going to break out of current chart formations with a continuation of the strong uptrend leading into QE3 or with a corrective decline. However, the rallies … Continue reading

Rate this:

Posted in Commodity, Gold, Market, Trading | Tagged , , , , , , ,

Companies Week – Bollinger Bands make Ansell a stock to watch

My post on Tuesday outlined a possible reversal set up in Resmed which has continued to rally so the sell set up did not trigger. No harm done but no trading opportunity either. My post today discusses a similar situation with latex manufacturer … Continue reading

Rate this:

Posted in Market, Shares, Stocks, Trading | Tagged , , , | 3 Comments