Elliott Wave count suggests we'll see price go up for a wave 3 or C in impulsive fashion up to 2.53 at first.
Notice that we also have bullish divergence and a classic (potential) Head and Shoulder pattern, but this needs a push above the neck line to confirm which limits the profit potential.
We can use a break above the blue channel line as an indication that...
Facebook has filled the gap and the 50SMA, now its top is working as support. --- Bull
The yellow rectangle I drew on the bottom wick of today oct.18.19, has an above volume average. --- Bull
Details to enter position
* Check out my previous analysis right before the gap (linked)
Sugar is trying to hold onto the trend channel.
We are currently in a very volatile process.
You can wait for this week's closing. (Friday)
Since I deem it appropriate for risk / reward ratio, I suggested a position like this:
Target : 0.12764
I don’t believe OILU will stay at the $14 level for very long and conservatively speaking I’d say a 50% swing higher is likely.
Depending on your strategy, you could cap your loss at 2% or whatever your risk tolerance is and then go in full on a breakout. Personally, I’d buy half or a third now and hold. If prices fall, potentially up to 7% or so, I’d accumulate...
We are in a consolidation, currently in possible wave B of (4) and should soon see a push lower for wave C to around 133 before going back up again one more time for wave (5) before we see any deep retracement.
Notice that waves 4 are tricky as they can take any form of corrective pattern, zigzag, triangle or flat.
One more option is that wave 4 is in at 136 and...
Expecting a bearish reversal very soon here.
The higher time frame count suggests that we should see a sharp reversal lower as potential wave 3 or wave C.
But because we have a nice round base here, this could become a Cup and Handle pattern which is bullish!
In that case, we should see price retrace around half of this move up before reversing higher.
For now price seems to be making a 3 wave correction and is at resistance around the 61.8% retracement level of previous bearish impulse wave and the upper channel line.
A clear break above this resistance zone, favors the bulls and we then need to look at current resistance becoming futur support from where price can rally after it pulls back.
If on the other...
We have been in a bull trend since June '19 and it's now making an Ending Diagonal, that as the name suggests, appears at the end of a trend.
A potential termination point is the Fib cluster zone marked by the yellow box but it can also come to an end even at current level!
A good sign of a sustained reversal will be if price breaks below the wave (2) and (4)...
We might be in a bearish impulsive wave currently in wave 4.
For this to stay valid, price needs to remain below 2593.
Any move above that would increase the odds for bulls to take over.
Here is previous post with a bullish bias
Hi @FollowMyForex fans,
Another week, another trade. Today we have the EURJPY that just gave us a short signal for our trend-following swing trading system. The reward is 2x as big as the risk which is our minimum acceptable ratio.
$WTRH is seeing significant insider buying off the lows.
Waitr Holdings (NASDAQ:WTRH) has moved up 12.3% after hours after a pair of insider buys anchored by billionaire Tilman Fertitta.
Fertitta (a director) disclosed purchases aggregating to 1M shares: 275,000 at average price of $1.437, 450,000 at $1.429 and 275,000 more at $1.41. That makes up his beneficial...
We might have finished this ending diagonal at 1.4417 and have seen the first 5 wave move of a new bullish trend that should continue higher from around the 50-61.8% retracement levels if the count is correct.
But the chance remains we are still in wave 4 of this diagonal here and so we need to expect one more new low to around 1.4350 before we rally higher.
Our risk / reward ratio is 0.28 in the first field and 0.09 in the second field.
There was a close above 5.84.
Long positions can be tried in small lots.
However, losses can be a bit high since the bar cannot be sure without closing, so stoploss should be placed directly at 5.81 or 5.84.
Our sales level for the first area is 6.095.
If the first area breaks down,...
75% of WYNN revenue has exposure to China.
With the recent political news we are getting on "partial trade-deal", WYNN is up over 7% with above average volume.
Could be a good opportunity. Great risk reward ratio. (Check chart).
welcome to another free signal of Week #41 Nr. 2
Important: We are trading ahead the FOMC-Meeting-Minutes today!
Market could either be very slow or uncertain...
Market Sell: 1,09615
Target 1: 1,09409
Target 2: 1,09285
We could be in a 3 waves zigzag here, currently in wave (B) which is near it's ending point.
So, if NFP comes higher than what is expected, we could see a new rally in the dollar taking this higher.
If on the other hand we see it come out below expectations and Powell takes a dovish tone later today,
the dollar will then get destroyed!