Lonny Strike / Profilo

Trend lines are lines that are drawn along either peaks (rally, highs) or troughs (dips, lows). Trend lines are simple yet very effective technical analysis tool. Learning to draw correct trendlines pays off in many ways. It is pretty simple on smooth market price movements...

S&P 500 TECHNICAL ANALYSIS – Prices extended upward after clearing resistance in the 1985.30-91.40 area marked by the 50% Fibonacci expansion and the July 24 high, with the bulls targeting the intersection of a formerly broken channel floor and the 61.8% level at 2006.80...

Overproduction of gasoline helped weaken Nearby Crude Oil futures in July. Since the refineries are scheduled to shut down earlier than usual because of the slowdown in gasoline demand, crude oil prices are likely to continue to weaken in August...

6:00 AM Get up and have breakfast. Check emails to make sure that the overnight cron jobs (automated tasks) ran successfully the night before. These are for downloading financial data and uploading our own internal reports. More on that later. 7:00 AM Head in to Mayfair on the Tube...

Prices are testing support at 1272.98, the 76.4% Fibonacci expansion. A break below this barrier on a daily closing basis exposes a falling channel floor at 1267.98, followed by the 100% level at 1257.63. Alternatively, a reversal above the 61.8% Fib at 1282.47 targets the 50% expansion at 1290...

The USDJPY pair as you can see broke much higher during the course of the week as we clear the 103 level finally. This was an area that had been significant resistance over the last year, and as a result we feel that the market is in fact starting to break out...

“The miserable trading conditions in USDJPY are probably explained by its long term Elliott wave position. That is, the rate has been mired in a corrective 4th wave all year. The good news is that wave 4 probably ends soon. Keep focused on the Elliott channel...

All eyes are on the Fed. When will it begin to raise interest rates? Some say next summer. Others think sooner, in the first quarter of next year. A few Fed governors insist that will be too late, that the Fed needs to act before year-end...

Key points made in the video: 1. It took Gary about 6 years of diligent study before he became consistently profitable 2. Understanding the Wyckoff method -- interpreting supply and demand in the market based on price action and volume -- via a mentor was the key for him 3...

USD/JPY Technical Strategy: Flat Support: 103.53, 103.05, 102.75 Resistance: 104.00-12, 104.30, 104.54 The US Dollar is hovering near the highest levels in five months against the Japanese Yen after rallying the most since mid-March earlier in the week. A daily close above the 104...

Richard 'Dick' Diamond has been trading the markets for over 35 years having started out on the floor of the American Stock Exchange working for his father's brokerage firm. JP (Justin Pugsley from mahifx.com): Can you tell me about your background and what got you into trading...

What does the turn in price look like? In the following chart, a supply zone for a short entry was highlighted with the yellow box, and the blue arrow indicates where a good short trade could have been entered. This is the expected “turn in price...

AUDUSD has been in a steady downtrend as the latest test of the falling trend channel resistance is showing downside FX momentum. This marks the third impulse wave lower, which might last until the bottom of the channel at the .9150 minor psychological level...

Prices broke above the 38.2% Fibonacci expansion at 1963.70, exposing the 1985.30-91.40 area marked by the 50% level and the July 24 high. A further push beyond that aims for channel floor support-turned-resistance at 1999.10. Alternatively, a turn back below at 1963.70 targets the 23...

Our near-term trend bias is positive on the metal while over 1280 A move through 1321 is needed to confirm that a more meaningful move higher is in fact underway A cycle turn window of importance is seen around the start of next month A daily close under 1280 will turn us negative on Gold XAU/USD...

He mentions that traders and investors need a level playing field to be successful and the only way to do this is with the use of an automated trading system. George W. Bush was the 43rd president of the United States...

Palladium climbed to a 13-year high in the longest run of gains in more than a month in New York on concern supply will lag demand and add to shortages. Gold fell...

The DAX initially tried to rally during the course of the week, but you can see that the €9300 level has in fact offered a bit of resistance that the market is currently trying to deal with...

Technicians exercise variety of time and price filter in order to identify valid trendline penetration and avoid bad signals or "whipsaws". Depending on the type of financail market, some use 1% while others use 3% penetration critera...

As a forex trader, if you check several different currency pairs to find the trade setups, you should be aware of the currency pairs correlation, because of two main reasons: You avoid taking the same position with several correlated currency pairs at the same time and so you do not multiply your...