See chart for description on what I see
Reason for Entry as described in the chart.
Am I the only person looking at this chart? There's no other commentary. Look at this chart and tell me if this looks really dangerous. The SPX and NZD (NZ50) has correlated tightly since records go back. Looking at this chart, there has been a clear divergence in Nov 15. The SPX500 remains expensive at 25 PE ratio, while the NZD has continued to rocket up,...
We seem to be in a wave 3 rise or wave C rise of an extended zigzag. Wave 3/C has reached 161.8% FE of 1/A. Thus, at least a short term pullback should come, at least till 38.2%.
My 1 day chart. I published this same chart 18 days ago, I haven't changed anything. And I am confident in going Long.
My weekly Chart show and Harmonic Formation (formation haven't finished yet) (C) could still go a bit lower depending on the outcome of the vote for BREXIT. Not much Fundamental news for this week. 1 day chart and 4 Hours Chart are all pointing to an up market. I am already in the market at 5215 . good luck trading
Things to take in to consideration: 1. Brexit, they had a poll recently and 48% voted for Leave. "FEAR" 2. This Friday we have USD Non-Farm payroll and Unemployment rate 3. We have 4 days straight in the red (5275), our next support is at our Fibonacci(0.5) 5210 4. If it break below 5210 our next support is at Fibonacci(0.61) 5019. 5. Red arrow point...
The ASX200 had a big sell off today on the back of the RBA chief defends inflation target. Things to watch in the coming days and month: 1. Last Thursday and Friday of every month most big Financial institutions adjust their financial sheet by getting read of the cash in the bank and buying shares, meaning the ASX200 will probabily go up 20-50 points on those 2...
Previous break out of resistance is showing to be relatively strong. New resistance line is shown in green around 5354 with support at 5184 (blue line). If it breaks this support level, an extreme case would be a negative movement to 4893 (red line). If resistance is broken, we would see a much higher high of 2016.
Weekly trend line broken. Looking for short entry
Updating my previous entry that was based on the trend... It seems the support level may be rising and a potential break out of resistance levels. We'll have to wait and see, I'm not going to trade this for now. Clearly the market has been particularly strong the past few days....
From the first chart, if target 1 and 2 is reached.. It will potentially complete a C Leg for two potential patterns to form. If so, then I would look for evidence for a reversal back up and confirm if price completes the D Leg to complete the pattern. If the two patterns complete, then i will look to enter short.
High Probability Setup: 2 x Advanced Patterns Ratio Confluence Harmonic Pattern (Symmetry) Price testing at or around Major structure (Support Resistance) Entry to Short at or around 5058 and 5096 Initial Targets around 4962 and second targets around 4884 Stops at 5147 Potential entry down at target 2 for a rally up