PA is at a pivotal level. A clear break and close below 154.75 gives a strong sell signal. A bounce here to back above 155.75 could signal a reversal and the start of the final leg up of what could then become a double bottom with the neckline at about 164 and a completion of this pattern at around 171 - 172. To support this long position we have the stoch and RSI...
Again, i see the SPX overload at rsi and cci, and see the formation of an ascending broadening wedge pattern. The problem is the next: if the hypotesis is right the AMEX:SPY (or spx) can are entering into a mega bearish breakout. Target 1: 1810 Comments, Suggestions, Corrections. They are always welcome!
Couple of nice bottoming tails on the Jan and Feb monthly bars. Squeezing in March so far. Major support at prior resistance around 33. IF it breaks and holds $40, then look out it could go on a monster run.
I'm already long this pair, and moving over to the Weekly you can see a beautiful pin bar forming at the bottom of the channel. There's little in the way of Supply ahead of an extended move higher, so i'll be keeping the HTF in mind with this trade.
Looking forward to better days... And in case that wasn´t the bottom, then well, I dunno... REKT, I guess ;)
Anyway... Although, the ultimate bottom aread (blue) hasn´t been touched, (yet?), the uptrend is very likely to continue once the bottom has formed and the blue area holds. Happy Tarding!
Back in the days of swing ... this was an inverted cup and handle. It was not a bullish sign. Today our computers can back check our our predictions, Algos, and ATMs. As they give us micro second opportunities. If my trading action happened at the speed of humming bird wings, my heart would explode. If you play against the herd, stay short into the weekend....
After months expecting the bottom of at least around $1000, did the bottom came and gone without much of a BANG??? Gold has spotted the most perfect rounding bottom pattern, a long term reversal pattern. In addition it had broken a triangle pattern where it had been moving around since mid 2013 as well as 50 weeks MA (200 days MA on daily chart). Yes, that had...
If you failed to make money this month, you either fought the tide looking for small gainsand lost or you need a new Tiki, ..... cuz this blow was forecasted all month. As today shows, old school big guns can hold the curl. The end is coming... just not this week. Daily swings can be 8%+ . And I betting we will see a few days with those moves.... Short to sub...
A nice little Inverse S/H/S bottom has been completed, with the break above 14.36. The calculated target for this formation only call for a rally to 15.30, but we have to remember that this calculated targets only are the minimum expectation. From an Elliott Wave perspective a firm bottom could be in place for a rally back to 18.50 and possibly even above for a...
Monthly trendline up from 2002 lows comes in at around 7! Monthly trendline down has been broken to the upside and has held But fibonacci expansion 0.61.8% from last two moves up are both just below 14 If price breaks below 13.8 again we may see 100% fibonacci expansion level from last move - at least! This is just above 12 So: buy between 14 and 10.5 (100%...
CrudeOil has made new lows now and is at the bottom of the channel.. I would expect it to give a bounce from current level and go higher from here either for short term or this being the lows that it will probably make.. I am being bullish on Oil for now.. Lets see if anything changes.. Happy Trading!! Siraj Hudda, CFTe Web: www.prowaveanalysis.com Skype:...
WTI oil is in strong strong down trend as fundamental from OPEC and others pump oil into over supply. Companies fight for the market share and survive and battle conditions seems to be the same for a while. This fundamental view is supported by Elliott wave impulse pattern unfolding down into the last wave 5 (brown). This impulse pattern is the last wave C (blue)...
Reasons to buy Strong Earnings in last quarter Strong Earnings in past 3 years Strong volume indicating buys buy institutional investors Strong compared to S&P500 Confirmed Double Bottom (see chart for details) Within 5% of buy point Reasons to tread with caution Not necessarily a game changing company (opinion) Not in a leading industry Market...
it hit support, RSI indicates that is over sold and the moving averages indicate a future bullish crossover, looking at possibilities, just as long as it does not break 1.00 support