Micron reached nice levels where to start building short position.
In worst case scenario $MU may fall as far as 70% from current levels, which is not absurd, given that the company is very cyclical, and global economy risks entering recession.
More prudent approach is to wait when bear flag would be broken below 40$, however, given current overbought level, MACD...
- The Main signal is MACD is highest during for3 months. Expecting to retest TOP and a new Top.
- The 2nd key is the slope of FORCE INDEX and RSI
- The 3rd key is EURGBP breakout the support level (Volume Profile).
* 3 targets are calculated by Elliot rule.
- The main key for my trading is Highest MACD during for 3 months at the Symmetry wave 3 (was exceed the upper Bolliger Band.
- Force index indicator is up.
- Now the price is at the mid-Bolliger Band (zone Symmetry wave 4).
- 3 targets are calculated by Elliot rule.
- The 1st key is the real divergence RSI (The point A was exceed 30, but C is not).
- The 2nd key is the real divergence MACD (point B was exceeded THE line 0).
- The 3rd key is the slope of MACD & SIGNAL.
Thus, I forecast EURGBP will up from the Symmetry wave III to IV.
- The 1st key for a sell, MACD lowest during for 3 months, to hope a retesting Bottom.
- The 2nd key is a real Divergence RSI, a new top at the chart but RSI does not exceed 70
- Divergence MACD is the 3rd key.
- The 4th key is the Close did not exceed the upper Bolliger band.
Thus, I forecast GBPUSD will drop to the Symmetry wave III to wave IV.
My main focus for signals is a bearish divergence on the MACD and RSI.
At the new TOP, RSI is not beyond 70.
Bolliger Band is not plugged deeply at wave V. Maybe GBP index has rejected a break for an uptrend and corrected continue.
Look left, 24 Dec 2018 at the Symmetry wave (I) was broken the Uptrend, MACD histogram was lowest.
Thus I predict SPX step to the Bear Market at the Symmetry waves (II) to (III)
- The MACD and FORCE INDEX is decreased.
- The MACD & signal Crossovers
- Real divergence RSI (The point A is higher 70, but point C is not).
* This is the third times SPX...
MACD & RSI divergence for a short.
Note: GBP index reached the Elliot wave 5 (27/2/2019) but RSI not beyond 70. The Candle Stick is at Upper Bolliger band.
I predict GBP index will correct down from the Symmetry wave III to IV.
Look left, At the Symmetry wave (I, II, III, IV, V, VI, VII, VIII) occur The Real Divergence MACD & FORCE INDEX, is always has a reversal.
Thus, I predict AUDJPY has a reversal for down from the Symmetry wave VIII to IX.
Look left, Symmetry wave (VI) was broken and confirm zone reversal for UPtrend.
- Rounding Bottom:
1. The biggest Green rounding bottom is at Neckline.
2. The second Red rounding bottom completed.
3. The last Purple rounding bottom looks the previous.
MACD & FORCE INDEX is upward.
Thus, I predict EURCAD will go uptrend from 78.6 Fibonacci...
- 3 months highest FORCE INDEX for an Uptrend.
- Real Force index divergence.
- 3 times confirmed at Symmetry wave II, IV, VI, VIII, X. Now is at zone Symmetry wave X.
Thus, I predict GBPCAD has a big Uptrend with Elliot wave targets.
Do not die in front of paradise