After a clear EW formation and looking to see if a new wave will start. Close to MA200 and tested support on Fib 38%.
Momentum has turned bearish on many fronts. Bearish trend pressure coming from above. Currently hovering in a decision zone. Indicators: Weiss, Macd, EMA DYOR
Neutral bias and bears can look for potential shorting opportunities around the multi-year resistance.
Bears can look for potential shorting opportunities.
We'll see how it all plays out. I'll keep you updated.
We'll see how it plays out. I'll keep you updated.
OMXS30 is forming resistance around the current price of 1544 with target 1385 and lower towards March month.
Fractal copied from the period 2018-01-02 - 2018-02-06
This is the updated idea regarding OMXS30 the coming days. I moved the waves one step forward (incorrect wave-counting) and increased the area where the reversal could happen(the new area takes into account a couple of swing-highs). This is because other indices have already reached fib 0.618.
Bearish Fractal that has been forming since December 2018 with overbought RSI it is now ready to move lower towards 1260 and the 2019-01-21 low-point.
GOMX just got a confirmed breakout on 4 h chart. We got an "inverse emprire" and "green candle reversal" on price action as well as a double divergence on the MACD .
GOMspace seems due for a another breakout. We just hit an extended FIB move to 1.2, stochastic seems ready to cross.... I am expecting a breakout (unconfirmed)! Keep your stop loss tight and remember to take profit.
Not advice. Just an observation. MACD keeps making higher lows, price making lower lows. I would say longing OMXS30 soon for easy 50-60 pips would be a safe bet. Take partial profit and wait for either rejection or confirmation before further sales. Keep in mind a similar fake-out could happen as dec 3rd. Not advice. Just an idea based on patterns and divergences.
Hi folks, this is my first time posting an idea/"short" analysis publicly, hope you'll enjoy it This is the chart from SP500, I mirrored 2007 financial crisis structure, unedited, raw and pure, pasted it below our chart, checked the fractals/similarity, and it's deadly alike. With the somewhat positive sentiment from OPEC and 90 Days truce between president...