Swiss franc matrix as we approach the anniversary

15th January 2015 is a date etched into the memory of Swiss franc traders, and is the day the SNB removed the floor of support for the currency, unleashing a wave of volatility on the markets not seen since the dark days of the financial crisis back in 2008. With year end on the horizon,… Read more »

Trap move on 5 min CL chart

It was business as usual for the big operators on the 5 minute chart for oil, with the trap move clearly evident immediately after the open of the major US markets. Oil prices were initially taken higher, and outside the average true range on this timeframe, with the volatility indicator being triggered as a result…. Read more »

No Monday morning blues for the Indices

With the Nikkei having fallen over 2% at the start of a new trading week and month, European and London traders could be forgiven for thinking their respective markets and Globex would simply follow suit. And the indices on Globex did indeed make an attempt to follow through to the downside, but it seemed Mr… Read more »

Weaker USD fails to put some sparkle into gold

Trading gold need not be as onerous or capital intensive as it once was, as many of the MT4 brokers now offer the precious metal on their platforms, along with other metals and markets. And indeed the daily chart for gold on MT4 is as bleak for gold bugs as it is in the traditional… Read more »

Euro duly delivers our forex webinar set up

Many thanks to those of you who came along to our forex webinars today. Both sessions provided us with plenty of examples of volume price analysis in action, but it was this afternoon’s webinar that has delivered the most dramatic price action. This morning it was the back wash from the BOJ monetary startement and… Read more »

Quantum trading indicators now available on Tradable

David & I are delighted to announce that the range of Quantum Trading indicators is now available on Tradable, and both David and I are delighted to be associated with such an innovative company. Tradable, available on Windows or Mac OS, has a unique interface which enables traders to download and arrange third party developed… Read more »

Another disappointing week for gold investors

For gold investors, it’s been yet another dismal week, with yesterdays wide spread down candle on high volume, picking up bearish momentum once again, that has only been marginally halted in today’s minor rally. A rally which lacks both conviction, and more importantly volume! The most significant aspect of the daily chart is now the… Read more »

Sterling boosted by inflation data

This morning’s inflation data most definitely put the spring back into Cable bulls with the pair launching itself off the VPOC (volume point of control) and overnight lows in the 1.5570 and 1.5560 regions respectively. Indeed the pair   and pierced through the strong resistance at 1.5689 and even managed to pierce through the psychological… Read more »

Cable waits for BOE

Cable anticipating BOE by going precisely nowhere! All we can say is 1.5550 region represents strong support & is also where have the 200 ma. The pair has been rotating around the VPOC (the volume point of control) on the daily in the 1.56 region for some time, but we don’t have to wait much… Read more »

Cable may be rangebound, but the cross pairs deliver

Tomorrow sees the release of the Services PMI for the UK where a figure of 58.1 is expected against a previous of 58.5, a small but notable reduction and something traders will be paying close attention to given the UK’s huge reliance on its services sector. It will also be interesting to see whether tomorrow’s… Read more »

Aussie dollar in focus

The commodity dollar now coming into the market’s cross hairs is, of course, the Aussie where a string of key releases are due in the coming hours. The data kicks off with retail sales, expected at 0.5% against a previous of 0.3%, along with the Trade Balance numbers where the forecast is for -3.06B against a… Read more »

Forex update – USD and EUR/AUD

With only two tier 2 releases due this afternoon in the US, namely Flash Manufacturing PMI and New Home Sales, and liquidity fast draining away as summer kicks in, it will be interesting to see whether this morning’s moves in the forex market are likely to continue, or simply wither away. From a technical standpoint… Read more »

AUD/NZD – commodity cousins

The release of this evening’s RBA minutes should give us some insight into the Central Bank’s thinking on Australian interest rates, which were kept on hold earlier this month. In the run up the release the Aussie has been performing reasonably well against its peers, with the exception of the AUD/NZD where we have seen… Read more »

British pound in focus

Interesting move in Cable today as it appears to have failed to capitalize on Gov Carney’s remarks about interest rates, and the need for a rise sooner rather than later. Today’s move lower now sees Cable sitting on the strong support platform in the 1.5550 region, ahead of tomorrow Public Sector net borrowing figures. Whilst… Read more »

Market Analysis

It’s business as usual for the VIX

For the VIX it has been business as usual with the reverberations of late summer calming as the index continues to edge ever lower and down towards single figures, where complacency dominates and where the warning flags will really start to fly. For November, the index found support in the 14 area on the daily chart,… Read more »

Janet’s effort at the Fosbury flop!

We have all heard of the Fosbury flop which revolutionized the sporting world of high jumping, but sadly the same could not be said of Janet yesterday who delivered their equivalent effort of the FED flop. Unscheduled and tentative news releases such as the one highlighted in yesterday’s economic calendar can cause markets to become… Read more »

Sterling under pressure in the US forex session

By the time we came to our forex webinar for the start of the New York session, it was clear the heavily negative sentiment towards the eur/gbp had started to wane, although it was more a question of the market targeting the British pound, particularly against the US dollar. And here too on the 5 min… Read more »

EUR/GBP delivers in London forex session

Friday’s forex webinars, not only delivered some great trades, but also some excellent trading lessons which reinforced not only our volume price analysis methodology, but also our unique approach to the forex market. It was also great to welcome so many Quantum Trading customers, and even more importantly to learn about their trading successes. As usual our… Read more »

Oil taking centre stage on FED decision

One of the many factors used to decide whether a central bank should or should not raise interest rates is inflation, of which energy is a main contributor, and given the extended bearish trend for oil prices at present this aspect of the decision making process is likely to remain sharply in focus. This is… Read more »

Currency futures reflect on the FOMC minutes

Whilst yesterday’s FOMC minutes were flagged as a tier one item of news, the market reaction suggested that perhaps a tier three ranking would have been more appropriate, with the markets noting the news with a collective yawn, and failing to react in any meaningful way on the release. Whether the starting pistol on interest… Read more »

USD bulls remain in control

Bullish momentum continues to remain firmly in play for the US dollar on the longer term weekly chart, following the minor pull back of last week, which saw the dollar index test the new platform of support now in place in the 12,155 area (as denoted by the pink dotted line). This was the resistance… Read more »

Gloom deepens for gold bugs

It was another gloomy day for gold bugs in yesterday’s trading session with the precious metal picking up bearish momentum once again following last week’s respite, which saw the metal pause and move into a congestion phase in the $1085 to $1095 per ounce area, before closing last week at $1080.90 per ounce. The question… Read more »

Soybean futures finally break away – courtesy of USDA

For Soybean futures, yesterday was a seminal one from a technical perspective with the soft commodity finally breaching the strong platform of support that has been building in the $8.70 per bushel area, and closing well sold on the day to test support in the $8.50 per bushel region. Prior to yesterday’s price action, this… Read more »

Silver Bears…..not Silver Bells

At this time of year with Xmas fast approaching, I am reminded of the classic Yuletide song Silver Bells, composed by Jay Livingston and Ray Evans and first performed by Bob Hope, as given the current state of the daily silver chart, Silver Bears now seems infinitely more approriate. Indeed I was bold enough to… Read more »

Oil prices – not waving but drowning!

I’m sure you have read, or maybe come across the poem by Stevie Smith entitled ‘Not waving but drowning’ which in many ways encapsulates the oil market at present. The reason is that over the last two months, as each attempt to rise to the surface and struggle higher, has promptly failed with the price… Read more »

How low can the Euro index go?

The question that everyone is asking right now about the single currency is ‘how low can it go’ and for an answer we need look no further than the daily and weekly charts for the Euro index. If we start with the daily chart, the longer term congestion phase which saw the index trade in… Read more »

Rising triangle on the USD index weekly chart delivers

In one of my posts last week where I considered the longer term chart for the US dollar index, I referred to the chart as a picture that painted a thousand words The analysis anticipated a stronger move higher, given the formation of the rising triangle chart pattern on the weekly chart. This is one… Read more »

Still no good news for gold bugs or gold investors

Whenever I am about to put pen to paper to write about gold, I can feel the gold bugs breathing down my neck, and preparing to deliver either some stinging rebuke or to refute point blank what the market is signalling. Indeed I also seem to attract a similar reaction when writing about silver. So… Read more »

Santa has some catching up to do!

The traditional and seasonal Santa Claus rally appears to have come rather early this year, with October’s rally for the NQ Emini recording a sensational month of gains following the equally dramatic events towards the end of August which saw the index correct sharply, before strong stopping volume duly appeared to prevent the market falling… Read more »

Silver bears back in control on the weekly chart

For silver investors, as indeed for gold bugs, it’s been a long hard road back as the metal continues to struggle to find any bullish momentum in the longer term, with each minor rally duly stalling and then reversing to pick up the longer term bearish trend once again. The most recent rally for silver… Read more »

A picture paints a thousand words on weekly USD index

It’s been said many times before, and indeed in many different fields of endeavour that ‘a picture paints a thousand words’, this sentiment perfectly describes the weekly chart for the US dollar index, portraying as it does the indecision and lack of clarity which has been the hallmark of the FED over the last twelve… Read more »

Currency majors pick up bearish momentum after the FED

With the long awaited FED announcement now consigned to history, it’s time to revisit the major currency pairs in the light of yesterday’s more hawkish rhetoric, and to take stock of its impact on the daily charts for the Aussie dollar, the British pound, the Euro and the Canadian dollar. If we start with the… Read more »