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December 7, 2020

Scandex Technical Weekly: 12/06/2020

Interestingly, a daily volume reversal triggered on Friday from a 2 year high in EURUSD. There have only been 4 instances of this happening since inception of the euro (see chart below). If a top is in place at Friday’s high, then impulsive weakness likely extends towards 1.2040 before a bounce. That bounce would present the opportunity to short.
December 3, 2020

Market Update: December 3

Silver has been trading within a downward sloping channel since the August high. The 11/30 low was right at VWAP from the March low (see SLV chart below), so bullish risk is against Monday’s low. Near term, watch for resistance near 25.07/56. Eventually, focus will be on identifying a higher low against Monday’s low.
December 3, 2020

Market Update: December 2

Gold is one of the only things I’ve gotten right recently. Watch for resistance and a reaction near 1849. If price pulls back from there then I’d keep 1800 in mind for support and a higher low against the 11/30 low.
December 2, 2020
How to choose a forex trading platform

How to Choose a Forex Trading Platform

The trading platform you choose will be your gateway to the forex market. Follow this guide to help you choose a forex trading platform.
December 2, 2020

Market Update: December 1

Copper is trading at its best level since March 2013 and has rallied 7 of the last 8 months. Be aware of the 61.8% retrace of the decline from the 2011 high at 3.6130 for possible resistance. Considering that ‘everything’ is going up against the USD, this level could prove important from a multi-asset perspective.
November 30, 2020

Market Update 11/30/2020 – USD Reversal!

USDOLLAR reversed higher today after undercutting the September low. Importantly, price reversed at the median line…just as it did in September. Divergence with RSI attends the low, as it often does at important turns. Today was also a bullish engulfing pattern. This occurs when price opens below the prior close and closes above the prior open.
November 29, 2020

Scandex Technical Weekly: 11/29/2020

Right on cue. Bitcoin plunged last week before bouncing back. This is the 2nd weekly volume reversal in the last 3 years. The other one was in June 2019. Watch for resistance from daily reversal resistance at 18732
November 25, 2020
Introduction to FIX API Trading

Introduction to FIX API Trading

FIX stands for Financial Information Exchange. FIX API is the primary messaging protocol used throughout the capital & money markets sector, and the foreign exchange market […]
November 24, 2020

Market Update: November 24

There is a massive parallel in the Dow at about 30900 that is worth noting. The line crosses the 2007 and 2018 highs and high from early this year. The line equidistant from the median line (concept symmetry) was support in March. These parallels are based on the line that connects the 1932 and 1982 lows (see monthly chart below).
November 23, 2020

Market Update: November 23

Gold tagged proposed resistance on Friday and dumped today…beautiful. Price is quickly approaching the long held support near 1780. This level is an important parallel and the lower channel line from the bearish channel off of the August high. I’ll be paying close attention to 1780 for reversal evidence.
November 23, 2020

Market Update: November 22

S&P 500 futures continues to stairstep lower. I am looking lower. Price ideally stays under 3583. Initial focus is 3456.75 with 3506.50 as a possible bounce spot. On the sentiment front, hedge funds are all in and short interest is at an all-time low (see charts below).
November 19, 2020

Market Update: November 19

Assets prices were down in early U.S. trading as the USD rallied but everything reversed course when the magical U.S. session got underway (stocks up, metals up, USD down, etc.). I still like gold lower but a bit more strength may be in order to test resistance near 1876.