Weekly Bonus Technicals 24 April 2016


Weekly Bonus Analysis Video on EURUSD, AUDUSD, SP500 and GOLD ( 7 min 20 sec)
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Hello everybody welcome to our weekly bonus analysis video.
I'm Stef Breschi and today is Sunday, the 24th of April 2016
Today we cover 4 markets we currently have positions in and have traded… the EURUSD and AUDUSD currency pairs … the SP500 and GOLD.
EURUSD
Looking at the weekly chart  … We had been looking at the top of the channel for opportunities to go Short and we did so 2 weeks ago. Unfortunately we exited that Short at Break Even earlier in the week as we saw the market surge and then rejoined Short later having first got caught out in some crazy volatility on Thursday. Still ..we are Short and enjoying some 70 pips profit. Our targets coincide with the Fibonacci levels but we may revise them if we feel there is a chance the market will re-test the bottom of the channel.
In the daily chart we see when we were originally Long … then we exited at break even … shorted again after Thursday’s Bearish Engulfing candle with a tight Stop which got taken out on Thursday’s volatile pin bar. We should have just kept our original Short with the wider Stop above recent highs.
Anyway we remain Short and given our analysis we feel comfortable and hope our targets will be reached. The 200 sma is likely to act as a magnet so we may revise our target(s) to suit.
AUDUSD
We went Long back in mid-March at 0.7560. Price has been chopping sideways to up and last week 0.7720 resistance was broken so we felt very bullish. Mid-week price retraced back to 0.7670-0.7720 area which should provide strong confluent support. So we hope next week price will rotate to the upside again and head towards our targets. So despite the weekly pin bar at 0.7720 stronger than expected resistance, we remain Long and currently enjoying an unrealized profit of still 150 pips.
XAUUSD
We had been Short since 22nd March at 1255 expecting the market to correct.  Last week though price threatened our in-cost for a second time so we exited at Break Even. Still 1263 level held as resistance so we rejoined Short at 1250 later in the week. Our Reward:Risk remained the same as we placed our new Stop above Thursday’s pin bar which was bearish and indeed pushed the market down. We end the week with ca 160 pips in profit. We hope next week we will see price head towards the 200 sma and our targets. The Weekly pin bar is also very bearish and will hopefully confirm our analysis.
SP500
Enjoyed 2 profitable trades in the recent rally. We exited our last trade last week at 2100 for 720 pips profit. We now stand aside with an eye on possibly going Short but it is always tough to Short a strong Equity market!
 
Thank you for watching please take a look at our subscription service STTS which stands for short term trade setups which covers all the major currencies and other markets which we are likely to be trading
come and find us on www.tff-onlinetrading.com/market analysis
have a great week

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