Looks bearish along w/ a lot of other momo stocks with the market still stuck in consolidation at the moment and in a 6-8 month range. With this market uncertaintity as far as the direction of the market.......many momo stocks are breaking down. As a risk/reward setup.......NFLX looks like a short right now as it has b/o to the downside of the immediate uptrend...
The 10-Year Treasury Note Yield is on the verge of breakdown due to the recent downtrend in oil and consequent lowered inflation expectations. Despite the anticipated FED rate hike, the Yield can actually go in opposite direction (the famous puzzle outlined by Greenspan, the former FED chairman) The breakdown in the Yield will be confirmed on quarterly basis, if...
GBPUSD broken below 1st standard deviation of weekly (120-h) mean amid expanding volatility, signaling probability of further downmove. Traders can pick shorts below or close to the 1st st deviation (at 1.5580) with stops at the weekly mean (1.5605) The trade will be confirmed if price falls below relevant lows at 1.5550. Traders should also be aware of...
Looks bearish here as it has b/o to the downside of the intermediate upward trendline from 4/14'. It also just had an outside bearish engulfing week 2 weeks ago and has been trending lower as it is testing major support lvls. Also has been in a consolidation range for almost all of 15' & can't seem to break out to new highs which this consolidation could actually...
EURUSD has been trading laterally since mid-Arpil 2015, with price staying within the 1st standard deviation from its quarterly (66-day) moving average. Currently there is apparent risk of breakdown: the price fell to the lower 1st standard deviation from the quarterly from within amid expanding volatility, measured by 3.2 st deviations from the same mean. If...
The USDJPY has traded back into previous structure & is currently consolidating at the resistance level. To most traders this opportunity would have SHORT written all over it but I’m actually looking in the other direction. For those of you who I work with on a regular basis you know how I feel about the personality of the USDJPY and how it moves and looking on...
Same play as i posted before on the 4hr chart but this time on a smaller timeframe. (attached in the related links) Same rationale as well as there is clear selling pressure building from the triangle/wedge pattern from the last few days. Expected price target for this play is 130.90
After forming a triple top at the upper trendline GOOGL went on a quick move to the downside and could now be consolidating before a further move. With the divergences present and candlesticks showing high amounts of selling pressure its possible that it will continue to the downside. The lower horizontal lines are levels of support to keep and eye out for or...
Last week the main event for the Aussie Dollar happened on Tuesday, when the RBA cut the rates to a record low of 2% . After a quick spike down, price started to rally a staggering 250 pips in the following two days, since the cut had been anticipated and the statement (mentioning improved demand, high employment and inflation in line with goals) was perceived as...
Although there is still room for the current drawback to expand even further up, it still has a lot of barriers before the long-term downtrend is broken. For now, the downtrend remains in force with two touches of strong support at $210-$220 that may serve as a breakdown zone. If and when the price returns to this level, we may get a quick snap to $170-$180 for...
It's hard to define exact levels of resistance around this area, but we seem to have a descending wedge into strong support here in the $210s, which should result in snap back up for a correction. After that is anyone's guess, but I'm still leaning toward a long term bear market. Given the oversold condition, I would say a snap back to the $240s is likely. ...
LOTS OF UNCERTAINTY WITH GBP BECAUSE OF THE ELECTION WHICH IS CAUSING THE POUND TO DEPRECIATE. PRICE BROKE OUT OF THE RANGE LAST WEEK AND IT IS NOW LOOKING TO RETEST THE RANGE LEVEL (SUPPORT TURNED RESISTANCE). THIS IS A TEXTBOOK TREND CONTINUATION PATTERN (BREAK,RETEST,CONTINUATION) IF PRICE MANHES TO RETRACE BACK UP TO MY SELL ZONE I ALSO HAVE 2 FIB CONFLUENCES...
The markets appears to be trending within an 3 drive uptrend channel. However, when drawing some fibs from March 2013, I saw the 0.236 retracement level has not been touched yet. So this got me thinking.. If i was a BIG investor/trader with lots of money, at which levels should I be looking at? Well, drawing in some more fibs from 2014-09, 2014-11, 2015-01 i...
Earlier this month RL broke down below recent support and beyond the consolidation zone where price has been trading since mid-2013. The downtrend began to develop a few days after the earnings announcement on 4th February. Throughout the majority of February price has been trading between the lows of 2014 and 2012 - with 2012 acting as support and 2014 as...
The bulls have had a good few weeks, but the long term downtrend appears to be stopping the price from moving any further, further validating my suspicions as indicated in my last idea (link provided). As the price continues to try to break out with several high-volume surges, it has continued to make lower highs and broken the immediate uptrend with lower lows...
Right now, we are in a symmetrical triangle and we are going to have fake-out moves on the smaller time frames like we did just a few minutes ago that don't involve any real volume. Now we can see that consolidation is almost over and it's almost time to choose a trend. Since we made the peak at $315, we've had several patterns that might indicate a move, when...
We seem to have established a floor for this support around $210 near the last area of consolidation before the big Coinbase pump. The market is now forming a massive descending triangle by making lower highs on very weak volume. This pattern will be validated if and when the price dips below intraday support at $220 again. The market had a similar, albeit...
We've hit daily support at the breakout zone in a very oversold market. If we see more bear action, it most likely won't be until later. I've outlined important daily support and resistance levels on the chart, and the next stop appears to be a retest of $252 where the market broke to the downside with huge red candles on very little volume compared to the...