Market Direction: Gold, Break of 10 Day Line at $1,278 Required BP (BP.): December Price Channel Targets 415p What is interesting about the daily chart configuration of BP is the way that despite the massive volatility in the Crude Oil price, the progression here in recent months has been relatively consistent. This is because most…
Market Direction: Sterling/Dollar Accumulation Zone towards $1.44 Antofagasta (ANTO): Likely Bear Trap It has not exactly been a pleasant month to date for many holding mining stocks, and some of the gloss of the early 2016 revival has come off many plays. We also have to cope with the “Sell in May” issue as well.…
In the last blog post, I wrote about how the most precarious part of trading is similar to flying: take-off and landing. In that post I looked at entering a trade; in this post I shall examine exiting, or managing a trade. First off, quite obviously if your trade is losing money and has hit…
Market Direction: Dollar/Yen Rebound towards 111 Barclays (BARC): Possible Support Zone The current technical position on the daily chart of Barclays is interesting in the sense that we are on something of a knife edge regarding the technicals. This is said on the basis that while there is a higher low for the start of…
Trade management is a bit like flying. Things mostly go wrong on take-off or landing. To some extent opening a trade is less problematic. After all, you don’t actually have to make a decision at all. If you don’t then nothing happens: you simply miss the trade. Exiting a trade is the more critical because…
Market Direction: Euro/Sterling above 78p Points to 83p Capita (CPI): Bullish Falling Wedge Capita can be quite fairly described as a second line FTSE 100 stock, but this does not mean it cannot be enjoyed as a decent charting/technical trading prospect. The present position on the daily chart underlines this idea given the way that…
You know when something happens and then later you think of something you wish you’d said at the time? Well, sometimes it happens that you do think of the right thing at the right moment. I was talking with some friends and one of them had seen an article about some contraption that men can…
Market Direction: Gold Support in the $1,260s Zone Burberry (BRBY): March Bull Trap Gap Reversal What still dominates the daily chart picture on Burberry is March’s bull trap gap reversal through the 200 day moving average. This is a relatively rare configuration, but one which can haunt a stock or market for months to follow.…
Market Direction: Sterling/Dollar Initial $1.45 Zone Support BT Group (BT.A): Island Reversal One of the plus points of keeping a regular eye out on the more popular FTSE 100 stocks is the way that one gets hints from the charting configuration to build up a greater idea than most of what is going on. This…
Market Direction: Dollar / Yen Initial Support towards 105 BAE Systems (BA.): A Trump Play? Of course, one of the keys of trading or investing in a technical way, or even otherwise, is to be aware of the ranges a stock or market may have. This is very much what we have in mind at…
