Over the weekend I was asked a question about a triangle breakout on the 15 min chart of BTCUSD and whether the negative ADX set up would have precluded this trade idea. Here are my thoughts and observations. You may benefit from my article on the ADX, if you are not familiar with this indicator, […]
Last week: There was only one minor trend line breakout of note last week and I attribute this relative void to market uncertainty in the lead up to FOMC and, then, more of the same as this rate news was digested. This was compounded by cautious trading on the S&P500 as it now trades just […]
The US$ weakened after FOMC and this triggered a bit of movement across numerous instruments so I have drafted charts with revised trend lines to monitor. Today brings the BoE rate update so take care if trading GBP pairs.
Stocks edged higher on re-opening optimism and the US$ was a tad higher but most instruments were little changed. I often find the markets to be quiet /choppy in the days just prior to FOMC so keep this in mind.
Last week: US stocks shrugged off the continued rise with interest rates and, instead, hitched their move to the bullish narrative surrounding increasing US Covid vaccinations, re-opening of economies and the passing of the US stimulus Bill. So much so, that the S&P500, DJIA and Russell-2000 indices closed with good sized, bullish weekly candles at new […]