riki143 Posted March 13, 2017 Share Posted March 13, 2017 Hetty Green – the Witch of Wall Street3/13/2017Every trader has a special itch for money. We don’t want to say that it’s bad. For people who work in finance having an earnest interest in money is a necessity. In this article, we would like to condemn misers, those whose ultimate goal in life is money accumulation, those whose gimmy is insatiable. Beware of becoming such a person, because extremely greedy people eventually come to a sticky end. To prove this, we’ve decided to tell you the story of the woman who is known as the world’s greatest miser of all times – the financier Hetty Green.Ms. Green was a really talented savvy financier, one of the first women who turned a fortune on Wall Street. A smart manager of her own funds, she managed to become a major player at the New York Stock Exchange. Wall Streeters watched in astonished amazement as the rumpled, dowdy and dirty woman opened large positions in the chaotic totally unpredictable stock market, and made money almost every time. Playing in the stock market was Hetty’s self-indulgent preoccupation. Her real passion were mortgages. She also enjoyed lending money to bankers and brokerage houses. She started out with only $6 mln and turned this sum into the real fortune - $100 mln by the time of her death. Really impressive, eh? Yes, Hetty Green was a woman a century ahead of her time. I bet she would have become a great hedge fund or private equity manager. From all that has been said above, it would seem that we should praise this woman for her undertakings, admire her personality and wonder her ability to manage financial affairs. And we do give a proper respect to her talents. But we also feel obliged to point out at some seamy sides of her life. Historians picture Ms. Green as wicked, greedy, extremely frugal woman with dowdy appearance, negligent to hygiene and to her surroundings. It is hard to describe the extreme of her miserliness in our such a tiny little article as ours. Stories circulate about Green’s stinginess. She was believed to wear the only black dress. She fought with everyone over money and how much she has to pay; she lined her son’s shoes and clothes with paper in wintertime. When she took her skirts to the laundry, she insisted on washing only the hems to save up more money. When her son, Ned, hurt his knee in a sledding accident, Green refused to get him a proper medical attention, because it was too costly. The boy grew up lame until in his teenage years, the leg became gangrenous and had to be amputated. When her beloved husband got bankrupt she refused to cover his debts. Green took her kids and moved to Brooklyn having decided to rent a flat in order not to pay higher taxes. Since then she went to her Wall Street office every morning at 7 am. in her ragged filthy dress wearing a black veil over her hat. Her contemporaries dubbed her a witch of Wall Street. She was watching every penny; her weekly expenses never exceeded $4 – 5; every morning she ate a dried tasteless oatmeal having heated it on a someone’s radiator in her Wall Street Office. The list of Green’s mean things can be extended. Here we’ve presented just a small number of them. But even with that, you got an idea. Our extreme greediness, avarice may make us insane, wicked people despised by the society and her nearest.The moral of this story is following: be moderate in your wishes to earn more (you’re not Hetty Green, who was so lucky that didn’t suffer great financial losses; nowadays, traders are more exposed to the risk of losing all their money), trade wisely and don’t make the money accumulation the only goal of your life. More:https://new.fxbazooka.com/analytics/12835 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 13, 2017 Share Posted March 13, 2017 EUR/USD: "Engulfing" on the "Window"3/13/2017We’ve got an “Engulfing” pattern on the upper “Window”. So, the market is likely going to test the 144 Moving Average in the short term. If a pullback from this line happens, there’ll be an opportunity to have another bullish price movement.There’s a bearish “Engulfing”, which has been confirmed enough. Therefore, the pair is likely going to test the lower “Window” in the short term.More:https://new.fxbazooka.com/analytics/12836 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 13, 2017 Share Posted March 13, 2017 USD/JPY: bearish "Harami"3/13/2017There’s a confirmed bearish “Harami”, so the price is likely going to test the nearest support. If a pullback from this level happens, there’ll be an opportunity to have a local correction towards the upper “Window”The last “Doji” and “Tower” led to the current decline. However, there’s a bullish “Belt Hold”, but a confirmation of this pattern is a quite weak. So, bulls are likely going to test the closest “Window”, which could be a departure point to another decline.More:https://new.fxbazooka.com/analytics/12837 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 13, 2017 Share Posted March 13, 2017 EUR/USD: wave [ii] ended3/13/2017We’ve got a pullback from 7/8 MM Level, so wave [ii] has been ended. Previously, a wedge in wave was formed. Therefore, the market is likely going to decline in the short term. The main intraday target is 5/8 MM Level.The last bullish impulse has been ended on 7/8 MM Level, which was a departure point for wave i. In this case, bears are likely going to deliver wave iii of (i) during the day, so we should keep an eye on 4/8 MM Level as a possible intraday target.More:https://new.fxbazooka.com/analytics/12838 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 13, 2017 Share Posted March 13, 2017 AUD/JPY rising inside impulse wave 3, (3)3/13/2017 AUD/JPY rising inside impulse wave 3, (3) Next buy target – 87.40AUD/JPY continues to rise inside the minor impulse wave 3, which started earlier from the support area lying between the support level 86.00 (which also previously stopped the ABC correction (2), as can be seen below), lower daily Bollinger Band and the 50% Fibonacci correction of the previous sharp intermediate impulse wave (1) from the end of December.AUD/JPY is expected to rise in the active impulse wave 3, (3) and ③ toward the next buy target at the next resistance level 87.40 (top of the previous minor impulse wave 1).More:https://new.fxbazooka.com/analytics/12840 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 13, 2017 Share Posted March 13, 2017 AUD/NZD reached buy target 1.09003/13/2017 AUD/NZD reached buy target 1.0900 Next buy target - 1.1000AUD/NZD continues to rise after the earlier breakout of the key resistance level - 1.0900, which was set as the buy target in our previous forecast for this currency pair. The breakout of the resistance level 1.0900 accelerated the active minor impulse wave 3, which belongs to the intermediate impulse wave (3) from the end of January.AUD/NZD is expected to rise to the next buy target at the resistance level 1.1000. Buy stop-loss can be placed at half the daily ATR (Average True Range) below the aforementioned price level 1.0900.More:https://new.fxbazooka.com/analytics/12841 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 14, 2017 Share Posted March 14, 2017 EUR/JPY: euro caught the Shark3/14/2017On the EUR/JPY daily chart, the target 88.6% in inverted "Shark" pattern has been implemented. Further on, the situation can develop according to one of two scenarios: the update of the March maximum will lead to the continuation of the rally towards 113% of the XC wave (124), or there can be a transformation of the Shark pattern into 5-0. The latter scenario supposes correction towards 50% level of the SW wave (120.6).On the EUR/JPY hourly chart, an expanding wedge pattern is formed. A breakout of the support at 122.07 will lead to its realization. As a result, the prices can be sent towards the lower border of the upward trading channel.Recommendation: SELL 122,07 SL 122,62 TP1 121,15 TP2 120,6.More:https://new.fxbazooka.com/analytics/12843 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 14, 2017 Share Posted March 14, 2017 Gold: bulls grabbed hold of the level3/14/2017On the daily chart of gold, the target 88.6% in the "Shark" pattern hasn't been implemented. "Bulls" managed to hold their positions at the important level of $1205. If they manage to hold there longer, the prices may return towards the resistance at $ 1220. In the case of the break of the aforementioned level, there might be a correction towards the near-term upward trend.On the hourly chart of gold, there is an intermediate target 78.6% in the "Shark" pattern. The pullbacks towards 23.6%, 38.2% and 50% levels can be used for the opening of short positions in the direction of the 88.6% target (near $1,189 level).Recommendation: BUY $1189 SL $1180 $TP1 $1212 TP2 $1222.More:https://new.fxbazooka.com/analytics/12844 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 14, 2017 Share Posted March 14, 2017 EUR/USD: euro corrected to Tenkan-sen3/14/2017Technical levels: support – 1.0650, 1.0620; resistance – 1.0700/20.Trade recommendations:1. Buy — 1.0620; SL — 1.0600; TP1 — 1.0700; TP2 – 1.0760.Reason: bullish Ichimoku Cloud, rising Senkou Span A; a new golden cross of Tenkan-sen and Kijun-sen; but the market is overbought.More:https://new.fxbazooka.com/analytics/12845 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 14, 2017 Share Posted March 14, 2017 USD/JPY: Dollar supported by Kijun-sen3/14/2017Technical levels: support – 114.50/60; resistance – 115.50, 116.20.Trade recommendations:1. Buy — 114.80/90; SL — 114.60; TP1 — 115.50; TP2 — 116.20.Reason: expanding bullish Ichimoku Cloud, rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen; the prices are in the channel of Tenkan-Kijun and supported by Kijun-sen.More:https://new.fxbazooka.com/analytics/12846 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 14, 2017 Share Posted March 14, 2017 Morning brief for March 143/14/2017The UK Parliament has passed the Brexit bill, giving the government permission to trigger Article 50 and begin talks with EU. Today, the bill could receive the royal assent and become a law. Downing Street sources said that Ms. May prefers waiting until the end of March to launch the EU-UK negotiations and pull the Brexit trigger. Apparently, the British pound liked Brexit clarity as it swung to 1.2250 overnight. In the Asian session, it gave back some of its earlier gains slipping to 1.2200.In other developments, Scottish First Minister Sturgeon said she will see authority from the Scottish Parliament next week for a second referendum to leave the UK, but PM Theresa May hurried to rule it out saying that Sturgeon’s decision would set Scotland on a course for division and uncertainty.Now let us turn to the data front. Australia’s NAB business survey kicked off the day and then we received some data from China (industrial production, retail sales, and fixed asset investment). China’s releases were rather decent with a slight miss on the retail sales; NAB business confidence was downgraded a bit, but still remained at decent levels. Aussie dipped to 0.7560 on the data flow, haven failed to break the resistance at 0.7570 (50-day MA). Although the overtone for AUD/USD currency pair has improved recently, we still expect the prices to retrace towards 0.7530, 0.7490 levels. EUR/USD spiked to 1.0715 overnight but then eased off quickly. Despite this pullback, the euro still has some steam to rise higher (at least towards 1.0750). Upbeat inflation figures coming from the UK may change the overtone to bearish and send prices lower towards the nearest supports at 1.0620/1.0615.The outlook for USD/JPY currency pair is still neutral. The pair is consolidating in the narrow range of 113.20 – 115.10 levels (the borders of Ichimoku cloud on the daily timeframe). A clear break of the resistance at 115.60 will allow us to change our outlook for bullish.USD/CAD slid to 1.3440 in the Asian session. There is a strong support at 1.34200. If it’s broken, the quotes might fall further. In commodities, oil prices pared some additional losses and dipped to $51.38 on the concerns about rising US oil production.More:https://new.fxbazooka.com/analytics/12847 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 14, 2017 Share Posted March 14, 2017 Key option levels for Tuesday, March 14th3/14/2017EUR/USDMain trend Short-term period Medium-term periodBearish NeutralChanges in the open interest - 2 483 621 ? - 1 577 361 ?Closest resistance levels 1.0667; 1.0686; 1.0708Closest support levels 1.0633; 1.0600; 1.0580; 1.0558Trading recommendationsBaseline scenario Short EUR/USD below 1.0633 (or from 1.0667), with target points at 1.0600 and 1.0580Alternative scenario Moving above 1.0667 can be considered as a signal to Buy the pair, with target at 1.0686 and 1.0708 GBP/USDMain trend Short-term period Medium-term periodBearish BearishChanges in the open interest + 21 ? + 217 ?Closest resistance levels 1.2180; 1.2212; 1.2240Closest support levels 1.2134; 1.2106; 1.2074 (?ritical); 1.2039Trading recommendationsBaseline scenario Short GBP/USD below 1.2134 (or from 1.2159), with target points at 1.2106 and 1.2074Alternative scenario Moving above 1.2180 can be considered as a signal to Buy the pair, with target at 1.2212 and 1.2240 USD/CADMain trend Short-term period Medium-term periodNeutral BullishChanges in the open interest + 171 ? + 52 ?Closest resistance levels 1.3457; 1.3483; 1.3521; 1.3576Closest support levels 1.3419; 1.3364; 1.3326; 1.3277Trading recommendationsBaseline scenario Long USD/CAD above 1.3457, with the target points at 1.3483 and 1.3521Alternative scenario Moving below 1.3419 can be considered as a signal to Sell the pair, with target at 1.3364 and 1.3326 More:https://new.fxbazooka.com/analytics/12849 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 14, 2017 Share Posted March 14, 2017 EUR/USD: "Double Top" stopped bulls3/14/2017The price faced a resistance at 1.0732, so we’ve got a “Double Top”, which pushed the pair towards a support at 1.0640. Therefore, the market is likely going to continue falling down in the direction of the next support at 1.0594 – 1.0588. If a pullback from this area happens, there’ll be an opportunity to have an upward correction.There’s a “Double Top”, so the price is consolidating. Also, there’s a “Pennant”, so bears are likely going to test a support at 1.0614 – 1.0597 during the day. Considering a possible pullback from these levels, bulls will probably try to test a resistance at 1.0655.More:https://new.fxbazooka.com/analytics/12850 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 14, 2017 Share Posted March 14, 2017 GBP/USD: angry bears3/14/2017Bulls faced a resistance at 1.2260, so we’ve got two “Thorns” in a row. In this case, the market is likely going to continue falling down towards the next support at 1.2106 – 1.2084. If we see a pullback from this area, there’ll be an opportunity to have an upward correction.There’s a “Double Top”, which has been confirmed. All Moving Averages have been broken. In this case, the price is likely going to continue moving down. The main intraday target is a support area between the levels 1.2106 – 1.2084.More:https://new.fxbazooka.com/analytics/12851 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 14, 2017 Share Posted March 14, 2017 Oil prices: never-ending war for market share3/14/2017The past week was really disastrous for oil prices. Brent oil futures dropped to $51 on Friday. At the present moment, prices are trading a little bit higher ($51.20), but the last week pressure is still in force.The price crash was a result of unbridled expansion of US oil industry. Baker Hughes said on Friday that American drillers added oil rigs for an eighth consecutive week. US crude inventories are chockablock with oil according to recent weekly updates; OPEC members started to backpedal on their pledges to drain the global oil glut. No wonder, prices slumped to their three-month low these days.As you see there are different definitions of compliance. Different sources show us a variety of numbers. OPEC itself has not disclosed how it measures compliance, and because the deal is very complicated and mind-boggling, calculating the actual level of compliance not as easy as pie. This doesn't allow us to objectively assess the actual level of compliance and make predictions for the further direction of the price.Oil prices are predominantly led by fundamental factors, rather than technical ones. So, with the market still digesting build-up in the US inventories and increasing number of US rigs, oil prices will likely remain under pressure for a quite prolonged period of time.More:https://new.fxbazooka.com/analytics/12852 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 14, 2017 Share Posted March 14, 2017 How to measure market sentiment3/14/2017Market sentiment is a generalization of the overall dominating emotion of the majority of traders, investors. It determines the current trend of the market, as well as helps to identify the future path of the quotes and build a savvy trading strategy. As a rule of thumb, if the majority of the market wants to sell a certain currency, the market sentiment is deemed to be bearish; if most of the market participants want to buy the currency, the market sentiment is bullish. Market sentiments are fickle as the wind. They tend to change based on constant incoming news flow, economic release. Understanding the current market sentiment and exploiting it accordingly is a cornerstone for success in financial world. Here arises a big question mark. How to know/to measure dominant market sentiment?Well, there are two well-proved ways of gauging market sentiments. With one of them you are already familiar – watching news reports. About another one, you might read for the first time in this article.I am having in mind the Commitment of Traders report.The COT report provides compiled, exhaustive open interest information about futures market. It is released by the Commodity Futures Trading Commission every Friday at 15:30 EST. You can get access to this report clicking this link: http://www.cftc.gov/MarketReports/CommitmentsofTraders/index.htmIt is a very useful trading information that can potentially maximize your profits because skimming through the report you can understand what the other market participants are thinking about the current state of affairs. Then, based on the information you’ve received, you can easily plan the entry and exit points. The only handicap of this sentiment tool is the time lapse between the reporting and release (three-day difference). But even with this flaw you still can get the general idea of the price directions in different currency crosses, aren’t you?This is how the COT report looks likeYou should focus your attention on the data presented in the columns titled as “asset/manager institutional”, “leveraged funds”, “other reportable”. These groups of market participants include those who use currency for speculative purposes. Also, you can take into consideration the data presented in the column “non-reportable”. These market players are retail traders. When a particular currency is trending up against the US dollar, a net long position is registered. A short long position is registered when the currency is trending down against the greenback. The tables and charts presented on the COT official website are really clumsy. Let’s say, they are not user-friendly. Many banks present the same information in a more attractive way in their weekly forecasts. The novice traders tend to omit these useful sources of information while reading the banks’ forecasts. So, next time, you look through them, pay attention to this COT info. It is really valuable for position sizing.Of course, the COT data itself is not sufficient to generate entry and exit signals, but it may give us warning signals of a possible reversals in the spot forex market. More:https://new.fxbazooka.com/analytics/12853 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 14, 2017 Share Posted March 14, 2017 EUR/USD: bears came back3/14/2017The nearest “Window” acted as a resistance, so we’ve got an “Engulfing” pattern, which has been confirmed. So, if a pullback from the 144 Moving Average happens, there’ll be an opportunity for a local correction. However, bears will probably try to deliver a new local low afterwards.The price achieved the “Window”, but there isn’t any reversal pattern so far. In this case, if a pullback from this level be on the table, then bulls are likely going to deliver an upward correction.More:https://new.fxbazooka.com/analytics/12854 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 14, 2017 Share Posted March 14, 2017 USD/JPY: bearish "Harami"3/14/2017The last “Harami” led to the current decline. Also, there’s a “High Wave”, which has been confirmed enough. Therefore, the market is likely going to test the nearest resistance in the short term.We’ve got a local bearish “Harami”, which has a confirmation. However, if the closest “Window” acts as a support, bulls will probably try to deliver a new intraday high.More:https://new.fxbazooka.com/analytics/12855 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 14, 2017 Share Posted March 14, 2017 GBP/CHF broke support level 1.23403/14/2017 GBP/CHF broke support level 1.2340 Next sell target - 1.2120GBP/CHF continues to fall after the recent breakout of the support level 1.2340 (former strong support level from January and February). The breakout of the support level 1.2340 accelerated the active minor impulse wave 3, which is a part of the intermediate impulse wave (3) from the start of December. The price earlier corrected up to test the broken price level 1.2340 – after which GBP/CHF reversed down sharply.GBP/CHF is expected to fall toward the next sell target at the next strong support level 1.2120 (low of the previous sharp minor impulse wave 1 from January).More:https://new.fxbazooka.com/analytics/12856 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 14, 2017 Share Posted March 14, 2017 GBP/USD reached sell target 1.22003/14/2017 GBP/USD reached sell target 1.2200 Next sell target - 1.1000GBP/USD continues to fall inside the intermediate impulse wave (3) – which earlier reversed down from the resistance level 1.2200 (former support level and the sell target set in our previous forecast for this currency pair). The breakout of the support level 1.2200 led to the intensification of the bearish pressure on this currency pair.With the daily Momentum approaching yearly lows - GBP/USD is expected to fall to the next sell target at the key support level 1.2000 (low of the previous intermediate impulse wave (1) from January).More:https://new.fxbazooka.com/analytics/12857 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 15, 2017 Share Posted March 15, 2017 EUR/USD: bearish impulse3/15/2017There’re a wedge in wave and a zigzag in wave [ii]. So, the market is likely going to decline in the short term. The main intraday target for bears is 5/8 MM Level.We’ve got an impulse in wave © of [ii], which has been ended on 7/8 MM Level. Under this circumstances, we’re likely going to have an impulse in wave (i). So, bears will probably try to test 2/8 MM Level.More:https://new.fxbazooka.com/analytics/12859 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 15, 2017 Share Posted March 15, 2017 USD/CHF: franc is wandering in the channel3/15/2017On the USD/CHF daily chart, the "bears" failed to send the quotes below the support at 1.0045. At the present moment, there is a struggle for an important level of 1.01. A successful test of this level can lead to the continuation of the rally towards 1.016 and 1.0245. In contrast, the pullback can lead to the breakout of the lower boundary of the upward trading channel and the transformation of the "Shark" pattern into 5-0.On the USD/CHF hourly chart, an expanding wedge pattern can be formed. To form its, the "bears" should send the quotes below the support at 1.001. The key resistance is located near the 1.016 mark.Recommendations:SELL 1,001 SL 1,0065 TP 0,986,BUY 1,016 SL 1,0105 TP 1,0245 TP2 1,0295.More:https://new.fxbazooka.com/analytics/12861 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 15, 2017 Share Posted March 15, 2017 EUR/USD: how euro can train Dragon3/15/2017On the EUR/USD daily chart, the "bears" are trying to return quotes to the limits of the downward trading channel. If they succeed, the prices will return to support at 1.0495. In contrast, the spike of the euro above 1.0635 can potentially lead to an update of the March high and continuation of the rally towards 1.082.On the EUR/USD hourly chart, the "Dragon" pattern has been formed. If buyers manage to test the resistance at 1.066 and 1.068, the rally will continue. In contrast, the quotes'decline towards the middle of the trading channel 1.05-1.0625 will increase the risks of implementation of the "Fakeout-Shakeout" pattern.More:https://new.fxbazooka.com/analytics/12862 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 15, 2017 Share Posted March 15, 2017 EUR/USD: euro supported by Cloud3/15/2017Technical levels: support – 1.0620, 1.0600; resistance – 1.0660, 1.0700.Trade recommendations:1. Buy — 1.0620; SL — 1.0600; TP1 — 1.0700; TP2 – 1.0760.Reason: expanding bullish Ichimoku Cloud, rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen; the prices are on a strong support of 4H-Cloud.More:https://new.fxbazooka.com/analytics/12863 Quote Link to comment Share on other sites More sharing options...
riki143 Posted March 15, 2017 Share Posted March 15, 2017 AUD/USD: aussie testing Cloud’s resistance3/15/2017Technical levels: support – 0.7540, 0.7500; resistance – 0.7640, 0.7610.Trade recommendations:1. Sell — 0.7560; SL — 0.7580; TP1 — 0.7500; TP2 — 0.7460.2. Buy — 0.7580; SL — 0.7560; TP1 — 0.7640; TP2 — 0.7670.Reason: bearish Ichimoku Cloud, but rising Senkou Span A; a golden cross of Tenkan-sen and Kijun-sen with rising Tenkan-sen; the prices are trying to enter into the Cloud.More:https://new.fxbazooka.com/analytics/12864 Quote Link to comment Share on other sites More sharing options...
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