It's been around 7 months in order to the price to reach 1.87000
First of all, we have to consider that the long term trend (weekly) is strongly going in an upward direction but perhaps this double top may be a perfect situation/opportunity for the price to "take a breathe"/go down a little after this massive rally so we can expect a likely pullback right now.
Although still in a downtrend (Below 200 EMA I classify as downtrend), a counter-trend move to test the 200 EMA is believe to be imminent.
Usually after divergences on a downtrend, there is a move up to the 200 EMA (a test).
Sometimes it will blow pass the 200 EMA (gap above it), sometimes it will get cold rejected.
With that in mind target 200 EMA.
Looking for opportunity to buy once bullish bat pattern is almost completed near pt.D.
Ideal EP = 1.26062 (may change, depending on structure and price pattern).
1st PT: 1.27525
2nd PT: 1.29302
If we zoom in on the top of the trend, we are going to notice that the volume traded decreases as it goes higher (In fact, bearish candles have more volume).
We see a bearish engulfing candle right in the top of the trend which is a very strong reversal pattern. Price already reached the weekly trend-line (green) and it couldn't stay longer than 3 hours to...
Merry Christmas Traders!
We find SPY near the termination of a minor fifth subwave v of Intermediate wave (3), which in turn is part of a larger primary wave One. Primary Wave One should terminate near SPY ETF price 219 on/about 31 Dec 18, after a 28-day decline from 3 Dec wave origin.
Chart describes constituent components of Primary Wave One, including a...
Possibility shorting selling USD/JPY
Chart time frame - H4
Timeframe - 1-2 weeks
Actions on -
A – Activating Event
USD will see another bull run this week.
B – Beliefs
Market will be rejected at @114.5 level and move south towards the 113.5 level. This will be a resting/consolidation...
I put a short order here now on Savius signal that the bullish is about to turn (both on 60' and 15' charts)
Notice how similar the chart is to 2 days ago.
Price also touched the POC of 2695 from 2 days ago.
I am keeping a tight 10 ticks Stop Loss because I'm sure the price will try to push up to 2700 and 2704 (prices from S&P December, this SPX chart prices are...
Quick counter-trend attempt in EURAUD to hedge my short AUD positions as well. Shorted this pair with tight SL near last Friday's high and TP at -61.8 old fib level (but most likely will move my SL or manually close if price indeed drops as expected then suddenly start to show reversal at 0 fib level (yellow marker)....
Following Thursday’s moderate retracement, the sky has been the limit for October WTI crude oil futures. Since the traditional New York pit open at 9:00 AM EST, prices have risen more than $.50.
Counter-trend scalps beneath $70.00 are likely to produce positive price action. Sells from $69.92 with an initial stop at $70.01 produce 5-8 quick...
EUR broke important support at the 1.15088 line on Friday and then collapsed in a near straight line towards the next line of support at 1.13679, after making a low 19 pips above here so far.
All these lines on DXY and Gold and here too are weeks old and none of these charts have had to be updated or amended....showing how slooooow most markets are...
here is a AB=CD pattern that has bullish sentiment. the "C" point is a 786 retracement of the AB. so as outlined in Scott Carney's book Harmonic Trading VOL 1 the 786 uses a BC projection of the 1.27, and the pattern completes the ABC extension beautifully with maybe a pip or less under the BC projection. Because this is a counter trend trade I am aiming for only ...