Friday, 29 July 2016

ActivTrades Tools - SmartLines & SmartOrder

The togetherness with my broker ActivTrades always fulfil me with the blissfulness of polishing my skills and enlarging the stream of knowledge. Undeniable truth is that there is always something to pop up and surprise me with new opportunities that provide better trading solutions. In fact I was not likely to use additional applications on my MT4, but it seems I had missed a thing.
Yet another quite impressive and educative webinar  was held by ActivTrades and led by the professional trader Paul Wallace, who talked about the amazing and practical tools SmartLines and SmartOrder. Both applications are developed for MetaTrader 4 and MetaTrader 5 platforms and are extremely helpful.
To learn more, follow the link to find the record at webinars archive section.

Thursday, 28 July 2016

Gold: On the street of dreams or A tale that wasn't right

Yesterday gold was fascinating shiny and moved above the resistance at $1,337, where 100-day moving average is placed. Of course the major market mover was the FOMC statement release, offering fresh numbers pointing out improvement in US economy. The news was running trough the golden track and dragged gold to daily high at $1,344.

Today the precious metal was seen in smooth mood, trying to break another brick in the resistance wall at $1,338, where 21-day moving average is located.
Eyes catched must be around $1,325, where the 200-day moving average is hypnotizing on downwards and possibly could jack gold further to $1,312 area.
Do you remember gold on the street of dreams, running from the memories of $1,375 highs form the beginning of July? Should the bulls be spellbound of  $1,338 resistance level, further moving on up will take place, heading up to  $1,355 area.

USD/CAD showing mixed signs

USD/CAD pushed higher on Monday, reaching high at 1.3239, which is the highest level for the last four months. But due to the lack of macro news that could stir the market more significantly, the weak crude oil prices dragged the pair down. Since then the pair is trading sideways within a tight rage. On Wednesday the USD dollar was boosted due to Fed’s decision to keep the rate unchanged and consequently USD/CAD drew near the four month lows.
First resistance is located at 1.32119. A possible break above will drag USD/CAD to the temporary top marked at 1.32547. On the downside, the support is seen at 1.3093
OBV confirm the sideway movement. But as on Monday the pair ticked higher and the OBV is staying below May’s levels. It seems that bulls are not attracted  by this divergence, as the volume on up candles is not strong enough.

Tuesday, 26 July 2016

XAG/USD struck between spiky lines

XAG/USD was trading today around $19.70 level, marking an intraday high at $19.795 and low at $19.485. The daily chart is showing that silver has found support at $19.20 two times, but the downward trendline, acting as a resistance seized it from advancing further. Meanwhile the 20-day, 30-day and 55-day EMA validate the bullish trend.
It is very possible the current trendline and the support at $19.20 to form a wedge scene. Until XAG/USD is stuck between these interesting lines it’s hard to find to where it will be much trilled. 
Closing above $19.70 will drag silver to test key resistance located at $20.66. One the other hand if closing below the support line, supports at $19.00 - 18.50 area will take place.

Monday, 25 July 2016

AUD/CAD triggered to the upside

During today’s early session the AUD/CAD pair was trading around 0.9825 area. The key support located at 0.97174, where also the 200-day EMA is lying, remained below. The intraday low was marked at 0.9802 and the high at 0.98771.
Bulls successfully conquered the 23.6% Fibonacci retracement line (from May’s low to July’s high) of 0.98168 and now the pair is heading up to the resistance located at 0.9903. The upward trend seems to be confirmed as 38.2% Fibonacci retracement at 0.97242, acting as a strong support is now muted for the bulls run. Next bulls target is the 0.9903 and the 0.9970, where the next major resistance is placed.

Saturday, 23 July 2016


Gold broke the downward trend that started since mid-March 2015, when was marked the annual low at $1046.77. Currently the price of the precious metal found support around the psychological level of $1200 and successfully broke the previous highs around $1270. Possible continuation of the movement would lead the price to the nearest resistance in the area around $1352, and then to $1395. On the downside support is located at $1210, followed by $1085, and in the longer term at $1000. 
On Friday session ahead of the ECB rate decision, gold bounced from the four weeks bottom and reached an intraday high at $1333.90. But thereafter fell and marked a low at $1319.30 and closed at $1321. The stochastic is about to cross the oversold area, but is still is showing bearish momentum.

EUR/USD: Anticipating Fed to set direction

During the last 52 weeks the EUR/USD pair is seen in a sideways movement, which is in fact a record, having in mind the length of the period. This is of significant importance as any possible break would set the course towards major directional move.
If we take into consideration the long term trendline, the most feasible development should be to the upside. This assumption will be confirmed if the bulls conquer $1.1185 mark. 
In short term outlook nothing points this perspective. On Friday session the pair was trading above the physiological level $1.10. For shortly was seen in correction rally towards the 20-day EMA at $1.11, but lost strength and closed at $1.0973.
The US calendar for the next week offers yet another FOMC meeting. Lately US data is showing positive numbers and slightly upbeat from Fed would surge the US dollar additionally. Anyway key support remains the psychological level st $1.10.

Thursday, 21 July 2016

USD/CAD ahead of CPI release

USD/CAD is developing in sloping upward channel, passing through last week’s low and breaking the temporary resistance coinciding with the 100% Fibo at C$1.30831.
Focusing on the channel, the pair is nearing the resistance zone around C$1.3130. This is quite an important area, where May’s and July’s highs are trending. Breaking above this spot possibly could lead the pair towards April’s high at C$1.3220.
Meanwhile tomorrow’s macro agenda will bring the CPI release and we must take into account the nearest support level located at C$1.30235.  The flirting with the key resistance might fade away and in this case bulls might be hypnotized and find a spellbound at C$1.29 zone, where key support is located, together with the monthly open.

Silver slightly uplifted

During the last two weeks silver has been seen in choppy trading, forming many fleeting chart patterns, that couldn’t indicate any reasonable movement and developed to nowhere.
Since the marked high from 10th July at $20.661, silver prices formed a channel with prevailing bearish sentiment. The intraday frames were coloured with lower lows and lower highs, that couldn’t accelerate further on.

During today’s session the intraday low was marked at $19.270 and the high at $19.905, which is showing a bounce form the bottom side of the channel and meanwhile braking the support at $19.466. In the daily chart is clearly seen that the 20-day, 30-day and 55-day EMA steer to upwards and confirm the bulls run. 
Looking from the short-term perspective, silver is stuck between strong support and tilt resistance zone, drawing downside movements.  
A possible close over $20.15 area will lead XAG/USD to resistances locates at $20.45, $20.66 and $21.09. On the other hand, closing below $19.20 will drag the prices to supports levels at $19.15, $19.5 and $18.63.

Monday, 18 July 2016

Moving on up

USD/JPY marked impressive gains last week moving on up with 425 pips, which was not seen for almost two years and it seems that we will witness elevation this weeks as well.
Since the beginning of  the year the mood has turned to downbeat mode for the bulls to reach its  lowest level. Meanwhile bears are creeping to enter short into the pair. 
Technically speaking, some important resistance levels should be taken into consideration. In case of forceful push above, this could lead prices even higher. 
Currently we have an interesting match of 55-day SMA, 200-day SMA and the resistance trend line from the beginning of the year, so the area from 106.30 to 107.30 deserves attention.  

Friday, 15 July 2016

Trade Like A Pro: Trading counter-trend breaks

Yet another amazing and quite helpful webinar was held yesterday by my online broker ActivTrades, led by the professional trader Paul Wallance. This time the focus was set on trading counter-trend breaks.  It was a great opportunity to learn how to trade against the trade. Paul Wallance shared his valuable experience and provided some interesting tips from the perspective of a professional.

Do not miss the upcoming events this month:
July 21: "Adapt to the new normal: One month after the UK Referendum" with Malte Kaub
July 28: "ActivTrades Tools - SmartLines & SmartOrder" with Paul Wallance

For more information and to register, follow this link.

Thursday, 14 July 2016


Bank of England announced today that will keep the main interest rate at 0.5% and the major expectations are postponed for August. The GBP/USD pair might not be so seductive for the bulls in the scenario of rate cut, and bears can not play a leading role until finding stronger resistance levels.
There are three important levels if observing next tryouts of the pair to find stronger resistance zone. 1.3500 is the lowest point during the financial meltdown and as well is considered as a major psychological level. 1.3840 is holding the line of 7 years low before Brexit and in case of deeper retracement, this could turn to excellent resistance level. The third major level is located at 1.4004 as this is the pre-Brexit swing low.

Wednesday, 13 July 2016


Since March 2015 EUR/USD pair is caught within a record long range, defined of closing highs and lows for the last 52 weeks. If the pair is streaming downwards, the former channel support is turning into resistance, seen on the D1 chart. 
During today’s trading EUR/USD erased some losses, accumulated earlier. In the early afternoon the pair was hovering around $1.1088 mark, but pushed above the key resistance at $1.11 to reach an intraday high at $1.1120. 
Still the pair is hanging on a flat 200-day moving average, where the strong resistance at $1.11 is actual and seems the line will not be blurred soon. Next resistance levels are located at $1.1495 and $1.1601. Looking downward, major support is seen at $1.0785 and $1.0465.

Tuesday, 12 July 2016

Silver stays bullish

Since late June silver is behaving in a line with expectations, though is facing some difficulties to set forceful direction upwards.
Moving on up is quite sure, but we should not disregard the last week swing, which might be read as a prolonged consolidation period. 
Anyway, silver has not lost track of time as today bulls are with elevated spirit. The key support, located at $20.09 remained below. The intraday high was marked at $20.65 and the low at $20.22. Closing above today’s high will push silver to test the next resistance at $20.78. On the other hand, a daily close below $20.09 will drag silver to support zone $19.96 and $19.88. 
In a very short-term the bias remains bullish, having in mind the 20-days, 30-days and 55-days EMA, which are highlighting the upward movement.

Monday, 11 July 2016

AUD/USD down from two week high

AUD/USD pair is losing strength since the rating agencies set on focus the fiscal health of Australia. The pair is sliding lower and wanes from the two week high, as bulls irritated the cheerfulness of the Kansas City Fed President on NFP positive data.
During today’s session the aussie suffered some quite losses against the US dollar. An intraday high was hit at $0.7576 during the Asian session, but  subsequently lost momentum and marked a daily low at $0.7522. During the US session again popped higher to currently trade at $0.75314.
On the upside, the pair is limited by the key resistance at $0.75762 (61.8% Fibonacci of $0.7835 to $0.7145). Next resistance is located at $0.7580 (April’s high). On the downside support is seen at $0.7541 and $0.7490.

Friday, 8 July 2016

Positive numbers rocketed the US dollar

The fresh NFP data released today provided best numbers for the US economy and pushed the greenback higher. 287,000 jobs were created in June, well up from 11,000 in May and comparing with the expected 180,000.
In an immediate response to the numbers publishing, the US Dollar rose sharply against the Euro and was seen marking daily highs. The EUR/USD pair went to daily lows, testing the $1.10 level, falling from $1.1083.
During the past week the pair was spiralling in tight range, stuck between the support around $1.1020 and the resistance at $1.11 zone. In case the EUR/USD pair break out from this consolidation level, we may expect the following trend to be undisturbed in the next week.

Thursday, 7 July 2016

GBP/USD stuck between key levels

The Brexit vote turned the cable to choppy-fashioned mood and the strong turbulence continues to hold the sentiment and the volume measures to extened losses. OBV is showing lower levels, which confirm the downward price movement.
If  framing the long term development, yesterday’s low at 1.2788 is located at the 78.6% retracement level of the 1985 low to the 2007 high. The significance of this level  should be consindered as a key support and a possible break below would lead the GBP/USD pair downward to levels of 1.2450 or lower.
In case the pair manage to improve its strength, the key level to watch is 1.3118 - 27th June’s high, currently acting as a resistance zone. If walking below this level, bears will disturb the sound of silience. If going above, a strong rally is expected.
Anyway, the alert is on 1.2788 and 1.3118 as these levels define the short-term devolepment. Be cautious, the door is open towards the stairway to heaven either to the highway to hell.

Silver in bullish intraday bias

Today XAG/USD was trading higher and posted an intraday high at $20.34 and low at $19.62. The intraday sentiment remained bullish, confirmed my the  20-day, 30-day and 55-day EMA, as shown on the daily chart.
MACD and RSI are showing overbought market, so as expected a slight downward correction was seen slightly below the daily support zone at $19.834.
Last week we witnessed an intermediate-term higher trending facing to the long-term resistance zone. Since then silver is hovering around $19 level. Meanwhile the highs marked on 1st and 4th of July and the powerful move in the short-term left buyers exhausted. In case the market skip some additional selling, a short consolidation period is about to push the price towards $21 level. One thing is sure – the recent highs are yet to be digested with a possible extended pull back period. 
Currently we should pay particular attention to the behaviour against Monday’s highs. If trading higher, the resistance at $21.56 (July 2014 high) should be set on focus. On the other side, closing below $19.83 will drag silver towards supports at $19 zone or even $18.50. 

Wednesday, 6 July 2016

USD/CAD: Possible break out of consolidation

Lately the USD/CAD pair is seen in consolidation, but this period might come to an end in case US Dollar’s power resume. This may lead to strong move to the upside, even above 38.2 % Fibonacci level at 1.3303, confirmed by the trendline drawn off closing lows. 
But yet we must consider the key resistance located at 1.3019, matching with the 100-day EMA, which comes after the high, marked just a month ago. The pair couldn’t break over these levels. Currently the key support is located at 1.2657, formed since late May. Until a break trough this level happens, either consolidation or pushing higher will remain in focus.

AUD/USD trending higher

The US macro data today drove the attention of market participants and caused considerable volatility. As a result the US dollar was under pressure, mostly against the higher-yielding currencies. 

The AUD/USD pair bounced from the support located at $0.7407 and pushed slightly above the psychological level at $0.75. The intraday development was mastered by the bulls and the pair marked the daily high at $0.7519. 
In short-term perspective is seen triangle pattern, which is in process of forming within the next few days. Bulls are targeting the last turning point of the triangle at the resistance located at $0.754, as seen on the H4 chart. The last support turning point is located the daily support at $0.7407. So in long-term we may expect continuation of the bullish trend. 

Friday, 1 July 2016

Gold above $1.335

Gold prices were rolling in the shallows of a familiar area due to the lack of enough significant catalyst that could stir the markets and set a clear direction. The Brexit wave surged volatily in markets, but during the past four sessions the safe heaven was seen in consolidative tone, as yet investors are trapped by the uncertainty.

Yesterday gold was trading around $1,1315, but today’s session echoed with firm gains and the bulls are mastering the short-term run. The key resistance at $1.336 (26th Jun 2016 high) was broken and continuation of the upside movement is expected towards $1,358 and $1,372. Major support is located at $1.1317 (20-day SMA).

                                Chart XAU/USD H4

ActivTrades Tools | Autochartist

The technical analysis is a key trading tool for many traders because of one significant reason – it evaluates the financial instruments and forecast the future movement by providing gathered statictics from the trading activity. But even being fueled with knowledge and knowing by heart the theory basics, it is not so easy to implement it to your trading strategy.

I’ll never forget when for first time I opened a chart on my MT4, the green graphics appeared to me like lots of Christmas trees. I thought that my mind was successfully uploaded with the necessary volume of knowledge as I spent considerable time for learning, but at the very beginning it was very hard to identify any pattern. Of course certain time and efforts were needed to improve my experience and to break free from the Christmas trees vision.
Fortunately, there is a revolutionary application that provides incredible assistance to traders regardless of experience level. Autochartist is an amazingly powerful tool that enhance your confidence in trading by providing synthesized information of price movement of all instruments, clear assessment of rist and volatility and is a reliable guideline for trading. 

My broker, Activtrades, recently introduced an improved version of the application that provide better trading opportunities with the new tools Key Levels and PowerStats.

Here are some of Autochartist tools that will compose the delight of your trading:
Chart patterns: you will have audio and visual alerts when emerging and completed patterns are identified. An  automatic forecast zone is plotted on completed chart patterns. 
Fibonacci patterns: you will be also notified for the emerging and completed Fibonacci patterns with visual illustration of support and resistance levels.
Key levels: Horizontal support or resistance are automatically identified as either “Breakout” or “Approach.
Powerstats: provides an insight into the relevant movement of instruments: average PIP movement in specific timeframes; maximum expected price movements across various timeframes and expected price movements over weekly and daily timeframes.

Autochartist benefits not to miss are:
  • Intraday scanning;
  • Relevant trade opportunity alerts;
  • Forecast zones;
  • Quality indicators;
  • Saves time.

The interface consolidates all actionable trade opportunities and it is very easy to master the tool. To prove my words and to clear your vision, I'm attaching a screenshot:

Please kindly note that on a Demo account Autocharticst will be displayed with delays and you may refer to the plug in for the exact time delays.

The Autochartist rid me of the problem with the difficulties of recognising patterns and I said goodbye to Christmas Trees.