$SPX managed to close the trading week above the 1950 support zone, having its best week since July. I get a lot of questions asking whether the latest S&P bullish move is a correction wave (to its August declines) or whether August's bearish move was the correction that the market was waiting for and we are heading to another bullish wave that will conquer a...
As previously warned, once the 1st TL was broken the 2nd one comes up fast. Down trend looks back, but this is still a chop zone, so risk management must be paramount. Choppy 4th waves can chop a lot of accounts. GL to your trades!
Bearish Bat Pattern Completion. We can also see that an abcde corrective pattern where point e meets point d of the bat pattern Entry Point: 10340 Stoploss: 10414 Profit Target: 9844
This is update I of RSI perspective for the timeframes Weekly and Monthly. I try not to attach too much value to these types of views, as they say little about price and divergence between RSI and price can go on for a long time. Monthly: Monthly has broken the 2009 support and went a lot deeper than i (and probably many others) initially expected. RSI on this...
The German DAX index is hitting fresh 6-month lows this morning, but we may see prices start to rebound if 11,400 holds in the next couple of days. There is a channel support at around 11,420 plus the January 27th low at 10,550 to be watched closely today and tomorrow. Given the longer-term uptrend and significant rally at the start of the year, I'm inclined to...
This is my RSI perspective for the timeframes Weekly and Monthly. I try not to attach too much value to these types of views, as they say little about price and divergence between RSI and price can go on for a long time. Monthly: Looking at monthly RSI i see a H&S where the right shoulder is confirmed and RSI is close to hitting the 2009 rising trend support. I...
Can't complain about that 30 minutes bearish Cypher I traded on DAX (maybe that I got out too early!), but no we have a bullish Gartley right inside the important 11000 support zone. The potential target is the top of the trading channel and the required stop loss should be below X point (although a stop below 10,850 may be enough if that support zone will hold
DAX IS LOOKING BULLISH, DAILY MA'S BULLISH, WAITING ON DAILY CLOSE, PRICE PUT IN A HH, ABCD POSSIBILITY, CAUTIOUS OF THE DOUBLE TOP PRICE BOUNCED OFF 200MA AND IS ABOVE 50MA
Hi Traders, I trade for 8 years and all these years I have been using RSI which is a free indicator which also does not lag. However, I use him with trendlines connecting with higher highs or lower lows so I can see a signal when he breaks this trendline. As you can see the RSI with those trendlines, everytime he breaks those lines it indicates a breakout and...
We have a potential Cypher pattern in line with the overall trend direction. I would love to hear your opinion, feel free to comment, agree or disagree. ----------------------------------------------------------------------------------------- Always wanted to connect, learn and help one another throughout your trading journey? Join our community for FREE at...
Due to the insecure overall political situation in Europe, plunging chinese stocks and industrial metals, the testing of the upper channel edge and a relatively oversold market , we may see another breakdown at least to previous structure level of at least 10700. Another support zone at around 10600 marked with the thin green line may also indicate a potential...
AS YOU CAN SEE I JUST COUNT WAVES. I FIGURE OUT THAT PRICE IS MAKING A 5TH WAVE AND THIS WAVE HAVE AN 5 WAVES STRUCTURE TOO. NOW PRICE IS MAKING THE 4TH WAVE OF THE 5 WAVE SEQUENCE THAT IS INTO THE BIG 5TH WAVE. THIS 4TH WAVE IT SEEMS TO BE AN ABCDE PATTERN. SO I WILL BE LOOKING FOR THE BREAK OUT TO GO LONG. MAYBE IN LOWER TIME FRAME. WHAT DO YOU THINK ABOUT...
Bearish Cypher The bigger harmonic pattern is a Bearish Cypher the smaller one in the right wing is a Bearish Shark. If you agree with my chart(s) or just want to show appreciation - please click the thumbs up in top left corner of the chart. I would really appreciate it! Thanks! TWUC @BLawrenceM Follow me on Twitter for intraday updates and scalp plays....
M- showing loss of momentum, bearish candle couple months back, few pin bars since then. W - LL LH rejected by 8ema, respecting channel D- respected 61.8 fib level which was in con with top of channel and 3rd TL touch also lovely PA on daily. target is 127 ext buffer 10530 which is in confluence with bottom of channel and also 61.8 fib level on daily from...
- Descending Channel - Strong Structure Level - Cypher Pattern
There are some reasons to thin DAX may go little up, to 11370 - 11400, and then short - to minimum 11130. 1.618 of fibo ext of last small rejection ends at D of Bat equal overbalances (green boxes) generally bearish trend - aligned to bearish bat close to downchannel top line