Gold is Strong, the Mining Stocks Aren’t

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gold verus GDX ETF
On December 26 I wrote about a breakout in gold and mining stocks. I posted a list of stocks to watch for breakouts to the upside. Yet, while gold continued higher, the miners flatlined and then dropped right after. I put out a couple of trades, they popped, and then quickly failed. I got out with tiny profits (moved stop loss just above entry price), because it is a warning sign when gold is rallying…

Some Big Forex Trades to Watch For (EURAUD, USDJPY, EURPLN, CADJPY)

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EURAUD consolidating near support Jan 4 2020
There are currently some big patterns that are at risk of being broken, or holding, on various forex pairs. The nice thing about a currency pair at an important level is that no matter which way it goes there is a trading opportunity and the potential for a big price move. EUR/AUD Triangle and Channel The EURAUD daily chart is testing both the bottom of a rising trend channel and the bottom of a triangle…

Gold and Gold Stocks Break Out

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gold breakout on daily chart with COT data Dec 26 2019
On Dec. 23 gold broke out of a consolidation to the upside. This was confirmed on Dec. 24 when gold rallied 1% more. As of mid-day trading on Dec. 26 gold is up another 0.7%. Silver took off to the upside one session sooner, on Dec. 20. The GDX/GLD ratio, which measures the performance of gold miners versus the gold ETF, had a sharp turn on Dec. 23 and continued higher on Dec. 24 for…

Watch the Canadian Dollar (CAD) For a Big Breakout

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canadian dollar index with triangle breakout levels and targets
Forex traders, keep an eye on the Canadian dollar. The Canadian dollar index is in a triangle pattern, a breakout of which could create a big price move in CAD-related pairs. The Canadian dollar is referred to as a commodity currency because its price direction is influenced by the price of crude oil. Canada is a major oil exporter. Oil has also been in a triangle, and is right near the top of the pattern.…

US Swing Trading Stocks Near Major Breakout Levels

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BKI swing trade stock idea
The S&P 500 remains strong, and while there is always a chance of a pullback, it remains a favorable time to be swing trading stocks that are exhibiting overall strength and that are near breakout levels. These breakout levels let us know when the stock could be embarking on its next advance. Below we’ll look at some stocks that are poised for another potential rally to the upside. Black Knight (BKI) is approaching the $64.80…

EURUSD Volatility Low For Day Trading but Swing Trading Opportunities Abound

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EUR/CAD potential forex swing trade
The EURUSD remains mired in low volatility, typically moving less than 50 pips over the course of an entire 24-hour period. For day trading this means that even trading during the London or US session can leave them hunting for price swings that move 5 to 10 pips before pulling back. A nice move is 20 pips. Compare that 2015 when the price was moving close to 150 pips per day, it was a lot…

S&P 500 Outlook and Stocks to Watch

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gold stock 52-week rank nov 27
The S&P 500 is making new highs ahead of the Thanksgiving holiday in the US. Historically, December has a slight edge to the upside, with an average gain of 0.5% over the last 19 years. The month has moved higher 12 out of those 19 years. More recently, December hasn’t been as strong. Over the last 5 years, the index has lost ground in December. Whether December is strong or weak, the overall uptrend remains…

Use a Regression Tool to Cut Through the Clutter on Forex Charts

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regression trend indicator forex chart example
Sometimes forex charts can look downright chaotic. Drawing some lines along recent highs and lows may help make some of the chaos, but other times it doesn’t seem to help at all. If you find this happens to you a lot—you look at your forex charts and scatch your head—then a regression trend tool may help. What is a Regression Tool? A linear regression tool draws a “line of best fit” through all the data…

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