So the price is making the classic impulse and correction moves again! And the market will obviously try to fake us out by driving the price up closer to the descending trendline, before going in our original intended direction (short). So what i did this time is to give the market enough room to breathe, in the form of a stop loss at 109.074 (above the highs) and...
The price for the EUR/CHF currency pair is currently moving in a shallow dowtrend, making a series of impulses and corrections. If history repeats itself, we shall enter a short position around the 1.14000 area and target the 1.13600 area, being close enough to the beginning of the correction move (bear flag). At the 14400, this trade will be invalidated. The bear...
The EUR/USD currency pair is moving in a descending channel on the 4-hour timeframe, and prices have just broken out of a counter trend (ascending channel) on the 1-hour timeframe. I expect further downside of the pair after a small consolidation (breather/correction/pause) in the form of a bear flag pattern. However note that prices might skip this stage if bears...
The price for NIO could likely face resistance at the $5.00 price level, or even if it could go higher than this, it would likely face some strong resistance at the $5.90 area. The price has been moving in a downtrend, forming a series of bear flag patterns along the way. One the higher timeframes, the price broke out of a major range to the downside. This should...
Some simple and irrelevant lines on a chart along with the other convoluted TA out here to gorge on. I don't have any other advice other than 'see the price' and it looks like a bear flag , so maybe it isn't. Take a gander at your Bollinger Bands on 4H with 230 Period Length @ 1.2 StdDv More on volatility theory on DadSharks Page (see image link)
There are a lot of things happening in the crypto world, I certainly feel bullish, in a lot of altcoins, I see a daily divergence occurring. However, I do not see the same thing for bitcoin, and I don't know how I feel about this, but my goal is always to analyze as objectively as I can and determine the possible situations we are in. Synopsis: 1.) After that...
This is looking a lot like a bear flag to me. If I am right then we will be testing the 5.8k-6k area very soon. Plus CNBC is long so we got to go down right?
After a shallow brief wave 4 now in progress expect higher again for a week or ten days. Wave could carry Dow back to Jan high or perhaps a bit shy. Should get within 2 percent. By early to mid-September we could see Dow reach a new alltime high, although it has lagged Sand P and Nasdaq is a real bubble. Market was forming a smallish wave 4 when the Donald...
I think we are very close to the ending of the bearflag. If you take a measured move (neckline) from the top of the flag, gives us the aproximate next stop between $4800 - $4500 We're also overbought in Stochastic RSI. Just an idea, I'm not a pro.
All this bear talk, all this bull talk...I am convinced that we are still bearish...how many days in a row are we going to bounce from these 2 regions? Let's see.
Okay, so there a couple of points I would like to make. First, everyone is contributing this spike to Bitmex shutting down its servers for maintenance, that is probable, but let me explain that Bitemx is a Futures exchange: a bitcoin derivative, something few people understand, which means that they do not actually trade bitcoin, instead they trade contracts and...
Expect gap down and significantly lower based on very bearish futures in PM. C wave beginning- soon. It might be very strong b/c it's a combo of primary ABC from Feb cycle and an intermediate ABC coming off the June swoon, both waves terminating at this juncture. Possible low target zone 23531 at Nov/Dec 2017 support. Good luck! As always, this is not investment...
Compare/contrast to 11/12 June top and throwover. Bearish engulfing candle. Shooting stars. On intraday we saw hanging man twice, and shooting star in SPX 8/.21. Expect imminent throwover to entry on wave C of ABC ZigZag correction pattern within days, after reaching all-time high on SPX 8/21, US 30 25888 at Fibo 0.786 from Jan 26 high. Target 23531. Possibly...
For months I have struggled to make Elliott wave theory fit this Bear Flag rising channel but although 5 wave impulses appear within the channel, it is not itself a motive impulse, but rather, it is a complex, 7 or 9 multi-wave zig-zag flat corrective pattern "A-B-C". It also contains WXY components which we recently observed press index under 25000, as well as...
Traders, my bearish colleagues have persuaded me to take a second look at this channel flag. What I found is beary scary. For months now US 30 have been in correction charting a rising channel. My alternate Elliott wave analysis suggests this is an ABC large-scale correction and the Bear Flag is a long, strong B wave, nearing completion in August. For the...
Dow has charted a hammer spike candle formation with massive reaction after. Hope you got to play that round from earlier posts! Now comes critical test time- breakout or fakeout? Failure to break channel upper trendline will lead to a precipitous decline- panic selling. Gann fan shows of the prior breakout attempts from the flag channel, in April/May and...
USDCAD is in a bear flag similar to the on it was in in 2016-2017. Today the stops were run from traders who were shorting the top of the current flag. Afterwards we saw a very strong revesal back down which indicates the initial spike was a stop run. After clossing back inside the bear flag we should see a very large sell off begin similar to 2017. I am short...
LTC had created a nice W formation and has now formed an inverted bear flag at the end of it. This could be a good potential short setup. We want to watch for first a break of the 50 EMA and then a break of lower trend line with confirmation. If we break the lower trend line we will likely head back down to support around $116 then $109 if that doesn't...