June Swiss franc – The Swiss franc is beginning to exhibit a show of strength on speculation that the central bank will begin relaxing a year-old policy of selling the currency to curb its strength. The market has formed a bullish reaction swing with a retest of the 20-day SMA on Monday. This is a… read more
Tag Archives: Swing Trading
Update on 3/8 post about April Gold. [chart]
On March 8, I posted a blog about the potential buy signal in the April Gold. Recently, a reader asked about the signal and wanted to know if it is still valid. I thought this was a good topic for an updated post. The Gold confirmation buy signal was never confirmed. The market had formed… read more
TR swing pattern portends price advance in British pound. [chart]
The long-term bearish reaction cycle ended on the March 2 reversal swing date at the projected target objective. Then the market moved into a sideways consolidation pattern and formed a bullish TR swing pattern. This pattern typically appears at major tops and bottoms and can precede a major trend shift. Currently the market is setting… read more
May Silver – TC pattern suggests continuation of upward trend. [chart]
May Silver has been in an upward trend since confirming the bullish TR pattern in February. The market reached a high of 17.55 before trading lower into the minor reversal swing date on March 9. The pullback stopped at support provided by the median line as well as the 20-day SMA and upward sloping parallel… read more
Reaction swing triggers sell for may Soybeans. [chart]
Wednesday’s rally was stopped by the 20- day SMA and the downward sloping parallel line. The market turned lower and broke below the $9.35 support to trigger a sell signal. This portends a drop to the descending median line and a test of the previous low of $9.11.… read more
May Silver, lower trade into 3/9 R-swing date sets up buying opportunity. [chart]
May Silver has ben in a strong upward trend since it confirmed the bullish TC pattern (formed between 2/19 and 2/23). The market paused for a couple of days and traded lower into the 3/9 reversal swing date. It didn’t take long before the reversal began to kick in and the Silver began to climb back toward unchanged. This should signal… read more
March ES – Potential selling opportunity @ 1146.00 [chart]
March mini S&P is approaching the prior resistance and potential double top. Sell two contracts at 1146.00 with the stop loss at 1151.00. First target is 1141.00 with trailing stop on second position.… read more
Crude oil breaks resistance and continues bullish cycle.
After testing resistance at the junction where the descending reaction line (red line) and the ascending median (center blue line) three times, Crude broke through on Friday. A solid close above the median line should portend a rally to test the prior high at 84.95. The cycle remains bullish until the March 10 reversal swing… read more
British pound completes bearish cycle, due for rebound. [chart]
Based on the 12/29 – 1/19 A-B-C continuation pattern, the Brithis pound has completed the reaction cycle and is due for a corrective rebound or begin a consolidation period. The pound reached the lower reaction line target objective, one day before the final reversal date (projected for March 2, by the reverse/forward count). The lower parallel line… read more
Gold confirms bullish reaction swing, ready to run!
Gold traded above the pivot high, confirming the bullish action swing and a TC pattern. Confirmation of the TC pattern portends a upward swing to the test the prior high of $1166.00 for the short-term, with a longer-term target objective at $1220.00 or higher. I will keep you updated with stop movements in the TMV Swing trading… read more