Author Archives: Trade Advantage

1minute with ForexSurvivor

Resistance: 0.9411 strong / 0.9429 moderate / 0.9451 minor Support: 0.9389 moderate / 0.9371 minor / 0.9349 minor Evening Star (Doji) is just under the pivot point at 0.9411 in Hourly USDCHF charts. With a combination of a high level bearish pattern and a strong resistance consider shorting at market the immediate objective at 0.9389 break of which should see us move to 0.9371. Stop loss should be placed above 0.9411

See more here:
USDCHF Evening Star (Doji) Hourly Chart

S&P 500 (Mar 13) INTRADAY Review The S&P was fairly stable for much of the session yesterday ranging between 1516 and 1512. Our short entry level was 1519 and the index came within just five ticks of this before heading down to set a low for the afternoon just below our first profit target at 1511.75. The latter part of the US session saw a breach of the top of the earlier range and a push up to close at 1525.75 which is just a few points shy of the 2013 high set in mid February. The

Continued here:
The S&P was fairly stable for much of the session yesterday

Forecast for 5th March 2013 RBOB Gasoline April contract RBOB April needs to get back above 312 resistance for a move to 315/316. If we push higher look for 319, possibly 322 for a selling opportunity. If we hold below 312 this risks a retest of 307/306 lows & good support here could hold again today with the 55 day moving average in a very over sold market. However a break lower targets 302.88.

Read the original post: 
RBOB Gasoline, Natural Gas, Gasoil ICE

1minute with ForexSurvivor

Resistance: 0.8306 moderate / 0.8335 minor / 0.8392 minor Support: 0.8249 strong / 0.8220 moderate / 0.8163 minor NZDUSD is generally bullish with the Bearish Harami occurring near a strong support level at 0.8249, the Pivot Point. As such it would be best to consider shorting only if we have a close below 0.8249 with a stop loss above the candlestick patterns high. Price target for any subsequent sell-off will be at 0.8220, possibly on to 0.8163 if the former gives way.

See the original post:
NZDUSD Bearish Harami 4-Hour Chart

S&P 500 (Mar 13) INTRADAY Review On Friday we had an aggressive short strategy suggesting an entry level that the market was trading at when we sent out the report. This worked well initially as the US cash market open generated some downside pressure that saw the index dip to test the 1500 handle. However, the better than expected ISM Manufacturing data reversed the sentiment and drove a 17 point rally. The S&P then drifted sideways into the close to post an miniscule up week despite

Go here to see the original:
The currency pair was in a decent downward trend last week

Forecast for 4th March 2013 Natural Gas April contract Natural Gas held support at 3.390 but will need to beat 3.460 resistance for another test of 3.52/3.554 highs. It is unlikely we can push through here today as this is 10 month trend line resistance & we are getting quite over bought, but a break would target 3.592/613. Below 3.453 support we should retest 3.399/386 support. A break lower today would not be a surprise & should target 3.339/315 where we could expect to see a bounce.

View original post here: 
Natural Gas, Gasoil ICE, RBOB Gasoline, XAU Spot Gold

The US: The ’sequester’ effect is expected to be discounted in the financial market. Going forward, it is important to keep an eye on the US at the end of March (27 March). Italy: Announcements from Grillo contribute to sending EURUSD lower. Grillo talks very much about a vote on leaving the Euro. So far, there is no clarification of the government formation in Italy, and after the weekend it seems that the wide coalition government has lost momentum. It is generally negative for the EUR the

View original here:
Close NOKSEK and BUY GBPUSD

EURUSD Piercing Line Hourly Chart Resistance: 1.3019 moderate/1.3090 strong/1.3127 moderate Support: 1.2981 minor/1.2910 minor EURUSD is in a bear market with prices just under a moderate resistance level, 1.3019. Hourly charts however have a high credibility bullish reversal pattern, Piercing Line. Given its proximity a close above 1.3019 should be seen before taking a buy, the immediate objective will be the daily pivot point at 1.3090, break of which should see 1.3127. Stops should be

Go here to read the rest:
EURUSD Piercing Line Hourly Chart

DAILY AUD/USD OUTLOOK – 1.0198 03 Mar2013

Latest Impact:

Resistance: 0.8270 strong/0.8300 moderate/0.8353 minor Support: 0.8216 moderate/0.8186 minor/0.8133 minor Market bias for NZDUSD is bearish with prices under a strong resistance level at 0.8270 the Pivot Point. Given that Hammer is a low level bullish reversal pattern it is necessary to look for a close above the strong resistance first before taking action. Immediate objective when taking a buy should be a push for 0.8300 break of which opens 0.8353, a stop loss should be placed below the

More here:
NZDUSD Hammer 4-Hour Chart

S&P 500 (Mar 13) INTRADAY Review We were uncomfortable with Wednesday’s gains in the S&P and we got caught out with a short position on that session. Therefore we expected a pullback yesterday and picked the high of the week at 1524.50 as our entry level. Patience paid off in the end as the S&P hit this level at 19.30pm and exactly found the hig of the day here to set up a powerful double top for the week. The reversal from that point was sharp with a drop right the way back to

See original here: 
We were uncomfortable with Wednesday’s gains in the S&P

GBPUSD Bearish Engulfing 4-Hour Chart Resistance: 1.5060 minor/1.5104 minor/1.5133 moderate

Review: Sequester looks like a reality The US: Sequester-savings will take effect today. IMF has assessed that if the savings are not put on hold, they will reduce US growth by 0.5% in 2013 to 1.5%. The US: Weak backward indicators – positive forward indicators. The US GDP was yesterday revised – to 0.1% compared to expectations of 0.5%. A clear disappointment. On the other hand the more forward-looking economic indicators show a more positive trend; e.g. Chicago PMI (56.8 against expectations

View original here:
Review: Sequester looks like a reality