Pattern: Channel Up on 4H.
Signal: (A) Bearish as the price is near the Higher High trend-line of the pattern. (B) Bullish if the Channel Up breaks above its Higher High trend-line.
Target: (A) 2830 (just above the inner Higher Low trend-line). (B) 3100.
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First off, please don't take anything I say seriously or as financial advice. As always, this is on opinion based basis and not meant to be taken seriously. That being said, let me get into my opinion. FR40 which is a French stock index for the Euronext Paris, have been hit pretty significantly as a result of Covid19 after being on a bullish recovery for almost a...
This is a DJI comparison of the Great Depression and the phase that preceded it against the current COVID sell-off and the phase since the DotCom bubble that led to it.
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As you see both time phases are Megaphone patterns. Both started on high...
On our last trading set-up we mentioned the potential that the Channel Down could be wider and since the 4H MA50 broke, the pattern would fill in a Lower High near the 0.618 Fibonacci retracement:
Right now we use the 1D chart (RSI = 52.588, MACD = -25.640, ADX = 24.177) and see that the recent stochastic run is being exhausted (STOCH = 83.359, STOCHRSI =...
Pattern: Channel Up on 4H.
Signal: Bearish as the Channel made a Higher High exactly on the 4H MA200 and near the 0.382 Fib from ATH.
Target: 2550 (the 0.382 Fibonacci from today's High and right below the 4H MA50 which is on the Higher Low trend line).
The German index is trading within a Channel Down on the 1H chart and at the moment the momentum is sideways (RSI = 54.078) within 9,950 and 9,300 (Lower High and Lower Low respectively).
If the Channel Down breaks upwards, then we will target the 10,400 - 10,750 zone while if it breaks downwards we will target the 9,060 - 8,800 zone.
** If you like our free...
I am not an expert TA or Analyst. These messages are based on my own knowledge, research, and learnings. I may be wrong or I may be right but this is how I see the current market during a crisis within a crisis (financial & health crisis).
The sentiment speaks what the chart is telling us and currently, we are in FEAR & UNCERTAINTY or the people finally awake how...
Pattern: Channel Down on 1H.
Signal: Bullish as the price made a Triple Bottom and Lower Low on the Channel Down.
Target: 2600 (+10% rise as per the previous Lower Low).
Pattern: Rising Wedge on 1D.
Signal: Bearish if the next opening is below the 4H MA50. Otherwise the signal is invalid.
Target: 13360 (right above the 4H MA200).
DJI is extending the 1D Channel Up (RSI = 60.150, MACD = 193.000, ADX = 15.316, Highs/Lows = 339.6071) after the MACD turned bullish following the January 31st bottom. However as the overall bullish pattern is the 1W Channel Up that started in July 2019, is near its Higher High trend line again, there is a high chance of a pull back.
Last time the 1D MACD turned...
The index has made a marginal All Time High today but the 1D RSI remains on a bearish divergence (RSI = 59.286, MACD = 52.400, ADX = 20.325) within the 1W Channel Up. This pattern resembles the May- July 2019 top sequence which ended with a strong decline towards the 1D MA200 (orange line).
If the 1D MA50 (blue line) is crossed again, we are expecting this time...
When we look at Canadian instruments during the Autonomous LSTM Adaptive period:
We see a cheapness in both stock markets and currency.
Even though I have a positive opinion about the target, let's try it out in small quantities and leave more position size in case of a second try on negative scenario.
This analysis can be more risk-free with the following...
DAX is trading within a 1D Channel Up since early November. At the moment the price is next to the Higher High trend line, which is technically an optimal sell entry assuming the pattern holds. With the RSI also at the top of its 2 month consolidation channel, we treat this as a strong medium term sell opportunity. Our Target Zone is 13,165 - 13,100.
** If...
Pattern: Rising Wedge.
Signal: Bearish if the Higher Low trend line breaks.
Target: 3,170 (potential contact with the 1H MA50) and 3,135 (potential contact with the 1H MA200).
SPX is currently on the wrong foot again as last week's quick recovery on the impressive Nonfarm Payrolls is proving to be too unstable. The index is well within the multi month 1W Channel Up (RSI = 64.964, MACD = 69.900, Highs/Lows = 55.7180) but as it trades on the Higher High trend line, a medium term pull back for a Higher Low is technically justified.
The...
DJI has extended the 1W Channel Up (RSI = 65.157, MACD = 519.030, Highs/Lows = 742.8189) that has previously provided a handful of trading opportunities (see bottom of the analysis).
At the moment a Double Top is being formed on 1D, which since April has been a bearish signal, later initiating a decline towards the Higher Low zone (where the 1D MA200 always...
