Trend is down, and price has tested this resistance area five times, and did not make a new high as indicated by our Zig Zag. Evening star is forming on daily chart, and we have a tag of the upper Bollinger Band. Checking 4h chart shows several bearish candle reversals - most recently Falling Three Crows, and likewise tag of the upper band. Stochastic has...
Trend is down - Price has just pulled back but failed to exceed high of 9-2. Bearish Engulfing pattern engulfs two days of price action, and has tagged upper Bollinger Band. Stochastic has turned down and signal line has crossed as well. Finally my new "confirmation filter" the Connors 2 period RSI has exceeded the 90% threshold, which indicates extreme...
ASNA announces earnings tomorrow, and it may be worth watching if you're looking to get in long on this clothing retailer at bargain basement prices. www.marketwatch.com Truth be told, I generally dislike clothing retailers; in addition to just running their company effectively, they have to deal with changing tastes in a far more nimble fashion than other...
This is a 3 Hour Chart. it is more bearish than the daily. Here are ONE DOZEN negatives I see in-XAUUSD, and why I feel-Gold is a sell: 1. Sell Fractals in effect (red rectangle on chart). 2. Alligator jaws OPEN in tandem with sell Fractal. Alligator FEEDING IN DOWN-TREND. 3. Chop indicator (under chart) is above the 38.2 shaded area. This indicates a ZERO...
This is a combination of Wyckoff and price action. There are many names for this rally up to the upper channel line of the bearish channel, such as "Second Entry", "2 Leg Pullback", "Gartley", and of course "Redistribution". I think this shows an important aspect of trading. Even though there are many different methodologies regarding successful trading, at their...
Indicators used: 1) Zig Zag with 3% deviations to identify bull and bear swings (similar to the Weis Wave Indicator); 2) OBV is used to determine net volume change during the bull and bear swings (instead of cumulative volume used by the Weis Wave Indicator). Aggressive short entry on break of low of DV (Distribution Volume) bar with significant weakness in the...