I think the show is about to start. I see divergence that needs to be corrected and I have been waiting for this indication for a while.
If you look closely at the macd from the last post(linked) i showed you where it would come into play. we may see more divergence because UJ is a freight train.
As of now i have a good seat and dont see anything unexpected. just be patient Nikkei is up
had to repost macd keeps getting altered so i also went with 1 indicator as always trade safe gl and this is not investment advice
Comments
steveb4088
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kinda what i expected given the drop time zone occured friday. market always slows before close and this thing went hard. i think next weeks will start off w/ continuation of this downtrend/macd divergence correction. Im going to make a more accurate chart when i get home. i think w/ the march rate hike looming this will retest the low which is perfect for a reposition
I still think this will produce a nice big head/shoulder pattern and we are currently at the halfway point down the right side of the head where the retracement is the halfway mark. As this pattern forms it will be easier to find validation. so far higher time frame looks great
I expect a fast/bounce off the neckline. hopefully next friday i can cash in some chips
feel free to leave comments
steveb4088
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Dropping as we speak. Unfortunately all i have at the moment is a phone so i cant really examine the patterns. If anyone wants to share any ideas link em in the comments. I wanna know what you think
steveb4088
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Hey everyone im in class. Just wanna post an update. The head and shoulders main pattern needs to be shifted slightly but theres another h&s pattern thats gonna push this back down. We just bounced of previous rejection line giving us a double top. Im still in this trade 113.38 is my first target. Hopefully it comes soon market always slows on friday. Would like to close out some trades
steveb4088
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seeing huge wicks so i grabbed another short. pullbacks like that deserve another short. especially when it breaks thru resistance and falls below 114
steveb4088
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well finally huh. ok so my first target is the arrow head and then i expect a pullback
steveb4088
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neckline broken now we wait for the retest to see if rejection occurs
I still think this will produce a nice big head/shoulder pattern and we are currently at the halfway point down the right side of the head where the retracement is the halfway mark. As this pattern forms it will be easier to find validation. so far higher time frame looks great
I expect a fast/bounce off the neckline. hopefully next friday i can cash in some chips
feel free to leave comments