Price closing below the support zone (yellow rectangle) is already a fairly bearish sign. That said, it's a very bearish (short-term) sign if price re-tests the median line (red downward slopped line) of the smaller, down-trend, pitchfork that I drew on the chart.
If that were to happen, a trade could be planned off of the correction to that median line test. ...
HOG was running within an upward channel formation, which broken just recently. We think with the falling oil price it will decline further. According to Upward channel breakdown we got target or $45.33. To play this we would consider $55 Aug-17 puts
* Trade Criteria *
Date first found- April 20, 2017
Pattern/Why- Upward channel breakdown, Falling Oil price ...
APA Seems broken down from an upward channel, retested the channel support line & now falling down sharp. With the falling Oil price we think it can decline as low as $34 area
* Trade Criteria *
Date first found- April 20, 2017
Pattern/Why- Upward channel breakdown, Declining Oil price,
Entry Target Criteria- Break of $48.87
Exit Target Criteria- 1st...
While the markets overall have remained mostly sideways it appears that WTI Oil prices are forming an upward channel. This , if broken, would indicate a potential decline in oil prices to the $40 area.
World Geo-political situation, specially situation with Iran seems weighing on Oil price & pushing it down. So we think $40 is a very possible scenario for oil ....
Shorting the recent bullish move move in the established downtrend of CHFJPY.
Low volume on bullish move = weak momentum
RSI needs to cross through the middle line
ABC corrective pattern needs to complete around 109.50
Entry at 109.5
Stop at 110.5
Profit at 105
July Wheat has made a bullish flag and tried to escape it today. Wheat still in downtrend and market full of wheat right now, so still looking for further downside. Upside target reversal may come at 449 downtrend line if flag doesn't decay. If broken and stable we could see a short term turn around. RSI has come to downtrend line so caution should be taken.
SPY broke down from an upward channel & seems approaching to channel support from beneath. We think it will be a very good shorting opportunity if it holds below the channel & reverse from there. And to trade that we would consider $235 Puts
$235 Put option
* Trade Criteria *
Date first found- April 11, 2017
Pattern/Why- Upward channel breakdown
Entry...
I spotted these Harmonic patterns before the big channel started & also inside it, besides A head and shoulder, with X of the yellow pattern as the head of the left Shoulder & C of the red pattern as the head of the Right Shoulder. Keep an eye on it Once the green pattern completes, I'll go long from D to 61.8 fibo of AD ( Red pattern) ... The Green Harmonic is...
The chart will be updated once I make sure of C's reversal point, you'll find it in a comment. I keep an eye on this pair ! The ascending channel broke so we're looking for C, which might be, in the same time, a retest to the descending channel before it goes to D. Keep an eye with me on these levels: 78.383 & 74.270 !!
& let me know what you think, please !
CHS seems forming a H&S formation in weekly frame and in the daily frame it is breaking down all the MA lines & strong support labels. We think it will decile from here down to $9.50 area.
* Trade Criteria *
Date first found- April 4, 2017
Pattern/Why- H&S formation
Entry Target Criteria- break of $12.96 or bounce to $13.34
Exit Target Criteria- Target 1-...
BOFI is a possible head & shoulder formation. It seems it has broken the pattern & $22.50 will be its target. To play this we would consider $25 April-17 puts
* Trade Criteria *
Date first found- April 4, 2017
Pattern/Why- H&S formation
Entry Target Criteria- $25 April Puts
Exit Target Criteria- $22.53
Stop Loss Criteria- N/A
Please check back for...
ROST looks interesting short setup. It has broken down its recent support & all MA lines. We think it has more downside potential. For perfect entry we are looking for a pullback to $64 or break of Long term support around $62
* Trade Criteria *
Date first found- April 5, 2017
Pattern/Why- Support breakdown short
Entry Target Criteria- Break of $62 or...
CY is breaking down an upward channel formation, and showing downward momentum. Moreover it is in the weak semi-conductor sector. It looks a very good short setup & it can decline below $12
* Trade Criteria *
Date first found- April 5, 2017
Pattern/Why- Possible momentum trade
Entry Target Criteria- Break of $13.16
Exit Target Criteria- $11.83
Stop Loss...
FRAN is forming a potential H&S in weekly frame, and in the daily frame it has broken down key support area. We think it has huge downside potential, and it can go down to $10 area.
* Trade Criteria *
Date first found- April 5, 2017
Pattern/Why- H&S formation in weekly frame
Entry Target Criteria- Break of $13.93 or rally back up to $14.93
Exit Target...
