My cautious call of 2 weeks ago may have been premature (see link below). However, we are now seeing additional cautionary signals on the SPX : 1. Two consecutive down days at the beginning of this week; 2. Visible break yesterday on the index (gap down); 3. Reasonable volume on the downside; 4. Traded and closed below SMA10; 5. Tech...
A bit of a gamble to be honest, but there's enough evidence from this year to support a gap down this weekend. I labeled all the previous gaps this year and why I think they happened. I've put a very small position on a short gap down since I believe our support from this week's trend down is around 112.450. If it pays off, I'm closing it as soon as market opens...
"Trade What You See" I see an unfilled gap, and it worked out for me last week. Long at bounce from support to fill gap.
After half the opening day of weak USD and somewhat strong JPY, this pair fell to the support. Now it's time to buy, as can be seen by the lower wick of the bullish candle. Mainly, it should go up to fill the gap, as markets do in about 95% of cases - sooner or later.
Interesting setup here, and it supports several other setups that I've just published as well. On this chart, is an approximate support trendline drawn from last week. Now, when this week opened, AJ gapped down, but was able to fill the gap before the 4h candle closed. With the following observations: 1. The gap filled, so no need to worry about that...
So far, EC has followed my prediction by going down to the area of the support TL. However, you can also notice how the gap down was not filled when markets opened this week. This supports my prediction of a bounce off the TL and a short term bull movement to at least the previous week's close, if not to the resistance zone around 1.5000 All I need now is a...
We saw rumors of a deal that will be conclued between DB and the Doj september 30rd, pumping DB hard, bloomberg revealed it's false. Prepare to short at the opening, and anticipate a gap down. Target 9.89, can go deeper.
AUDUSD gaped below hourly support visible on 15 min chart, Daily bias bearish so I would bet for short here also. Target 3R units minimum.
The SPX after a gap down has been consolidating in a small range and any upmove in the index is witnessing selling pressure. 2115 - 2110 are the important support levels to watch a break below these support levels would lead to a faster sell off in the index and a retest of 1820 level would not be ruled out.
There was a gap down observed on daily chart which is been not filled up for a long time. Now the price action breaks out from a rectangular consolidation and shall reach out to 3280 levels in order to fill up that GAP. Target: 3280 Stoploss: 3070
Support is quite far so we will expect another round of 3rd gap down due to upcoming good news in US.....
Despite its choppiness since the start of this year, the NZDUSD pair has traced out what may be considered to be a respectable impulse wave. By this count, wave 2 and wave 4 held at their respective 61.8% retracements of wave 1 and 3, and wave 5 is an ending diagonal whose subwave ii retraced a bit more sharply than normal. Additional reasons to believe that the...
The complex correction of the NZD/USD pair has (finally) resolved to complete a Bat pattern that it had been struggling towards since early Feb. While not the cleanest of Bat patterns, there are several good reasons to trade this setup. 1) Harmonics: 2 consecutive Bat patterns are now discernible on the daily chart. The first Bat is slightly imperfect because its...
Identify the GAP up and GAP DOWN opening and plot the line. Strategy when GAPUP identified Buy and target for few 100pips. 1.Color automated Lime candle shows one ahead candle of gapup 2.Black candle shows gapdown. 3.Line drawn for GapUp,GapDown
This is easier seen on the 5min chart. The S&P 500 has put in an Inverse Head & Shoulders Pattern. This is a reversal pattern. Look to buy the Neckline or the Breakout (shown on chart). Look for Targets around Gap fill.
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...
Initially, when I saw the gap down on YELP, I thought this stock looked good to short for a near-term gain. I usually concentrate on the weekly and daily timeframes and, with the gap down breaking through previous support, the $50 half figure and with higher volume, this looked like a great shorting opportunity - as there appeared to be no further support for some...