Senior technical analyst Steve Jarvis discusses the technical analysis homework of expert and amateur traders on charts for gold, WTI, dollar-yen, and pound-yen. Analyzing short-term moves and waiting for confirmation before predicting breakouts is important. While looking at other people’s technical analysis is interesting, one should stick to their own methodology that works for them.

Technical Analysis: A Senior Analyst’s Perspective

Introduction

Technical analysis is a method of examining financial markets based on historical price and volume data. In this article, we’ll discuss the insights of Steve Jarvis, a senior technical analyst at Trader Made, on some of the popular trading markets.

Gold

Gold has been a very unpredictable market recently. However, according to Jarvis, if we analyze it on its own merits, it looks like an off-market and is not attracting many buyers. Gold usually inversely moves to what’s happening with the dollar, but that’s not always the case. Therefore, it is essential to pay attention to its short-term movements.

WTI

WTI is most likely to stay within the broadsword trading range. It has attempted to break out and move higher for some time now and appears to be developing quite bullish on the short-term basis. If the high-low milestones are achieved, a bullish move would be in the offing.

Dollar-Yen

According to Jarvis, the dollar-yen could be a profitable trade. Currently, the dollar-yen is in a rising overall pattern, and the two bullish Daenerys would most likely continue. Therefore, the low currently experienced, which has formed a key high-low for W, represents a profitable buy-in point.

Pound-Yen

The pound-yen is experiencing a great run, and it is not looking like it would reverse yet. Sterling generally looks good at the moment and is expected to continue strong over the short term. However, Jarvis believes that with time, the corrective right shoulder expected would be a buy-in point.

Conclusion

In conclusion, technical analysis is an essential tool for traders, professionals or amateur, analyzing the market. Using historical price and volume data, technical analysts interpret market movements, identify trends, and provide insights into profitable trades. With Steve Jarvis’s wealth of experience, we have gained valuable insights into the gold, WTI, dollar-yen, and pound-yen markets.

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