As we progress this week the EURCHF is literally side ways giving pattern traders the upper hand. If the market continues lower, we could look to buy the EURCHF back into support structure at 1.0615 which lines up with the bull butterfly. Slightly above we have an AB=CD harmonic move which further gives me confidence about the direction of the market. However if...
ALL CURRENCY PAIRS IN WHICH THE USD IS THE DENOMINATOR HAVE BEEN FOLLOWING A SIMILAR ARC SHAPE SINCE THE 2009 RECESSION. AS WE CAN SEE HERE, JPYUSD, CADUSD HAVE REACHED THEIR PREVIOUS SUPPORT AREAS. ONE CURRENCY PAIR THAT HASNT REACHED ITS PREVIOUS LOW IS THE AUDUSD. ALL MARKETS WORK TOGETHER, THEREFORE I BELIEVE THIS PAIR IS LAGGING COMPARED TO IS RELATIVES....
I like to trade harmonic patterns on the EURGBP on the 1H/4H, but recent months have been very difficult as you can see the pair was trending. Not many opportunities.. Now to me it appears the pair is heading to a consolidation zone, a previous range of between 0.7096 and 0.6415. I might be wrong on this zone. What do you think? I think that in that zone lies...
We are in a consolidation phase. Let the market decide which way to go and buy/sell the breakout. Possible targets are on the chart. Atleast 33% profit within a month after breakout should be possible. Are you ready ? : ]
JWN is in a solid uptrend with the MA's lining up parallel since quite a while. Since breaking out of its last consolidation, it rallied up about 13%, before consolidation again for just short of 3 months. It broke out on a very bullish day with huge volume and has retested the prior resistance. It's now forming what seems to be a bull flag, with a nice volume...
HRL has struggled to comfortably clear the $50 half figure zone. It is not a great trending stock - it has been a little erratic in the past, despite its overall uptrend since the low of 2000. The November 2014 to February 2015 consolidation tested $50 time and again - even though this zone had already been retested through August - October 2014. More recently...
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...
Volume and OBV are both not supporting the bullishness of this wave (III) We are likely to continue forming the wedge (in 5 waves ideally) on lower volume and break down right after. Sell here and buy at the level of green support trend line. For further analysis check out my other published charts that I linked bellow. Cheers : ]
BA spent the whole of 2014 in consolidation but now price has broken above the 2014 high and cleared the $150 half figure a new trend could be emerging. BA has trended well in the past, for several months at a time, so presents a reasonable opportunity for the longer-term trader. After such an extended period of consolidation there is a high probability that...
MAR earnings are due after the close today so I will be waiting to see how this affects price. If the move up continues there may be an opportunity to buy. MAR was a great performer last year. After cleanly breaking the 2007 high ($52) in about February/March 2014 the up trend continued to be linear with multiple pullbacks and breakouts allowing us to add to our...
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...
I like to think that each currency pair has its own genetic code. Some pairs move very harmonically, some pairs do not. One of the reason that I like to keep my trading portfolio small is so that I can get a good feel for how each pair likes to move. Over the past few years I noticed that the USDJPY likes to go on these insane rallies....followed by consolidation...
Potential bearish butterfly pattern coming in at the very top of a recent structure area. If the market intends on continuing to consolidate until Thursday, then it's an excellent spot t shoot for another move down.
The EURNZD is currently in choppy waters but i think based on my analysis, for some hope. Currently on the Gartley pattern we are at a potential AB projection to form the C leg of the Gartley pattern if that happens(as we are @ the 26-18 trade setup), we could ride the C leg to form a Gartley completion @ the PRZ, 1.5623. If this happens we could look to get long....
We might be cought in sideways within the red channel for another 20 days. I look at the Willy or MAGNUS™ indicator and compare it to a similar situation we had a couple months ago. The yellow box had some rangebound action in it with a little breakdown in the middle ( just like we had it now ). The question is what will happen after the yellow box? The red box...
If you’re a follower of my work on YouTube then you know that this week I wanted to try something new. I wanted to introduce something I’m calling Chart of the Week where, you guys shoot me a question about a chart that is giving you problems and I show you what I see and talk about how I would look to trade it. This week I chose to take a look at the EURNZD on...
Re-post with both charts this time. The comparison between the ill-fated Paypal pump that became completely unsubstantiated and our Microsoft announcement. The latter was slightly smaller (9% gain vs 13%), but so far it has been showing a far higher resilience. Will be interesting to see how this one consolidates and how support builds. No position as this...
SEE is a stock which hasn't been on my watchlist before. Earlier this year it broke the 1998 high - having been in a long and deep range since then. It has only been trading above $35 for a couple of months so it is too early to see what type of trend is developing, but so far it looks to be entering a new phase. It is now trading above $40, so has cleared the...