This chart show us a possible double top scenario. There actually two of them pink rectangles. A confirmation of it could be the break of support at 120.5 -120.1 area. You can also see how the double bottom scenario worked out (blue rectangles).
Recently with Tesla, Positive news has been ignored and negative news has been exaggerated. This irrational pessimism, combined with high short interest might indicate a rapid momentum upwards swing is in order. This is especially true if Tesla chooses to announce their CPO program or their stationary storage product soon.
New Indicator posted, Utilizing Momentum based indicators for picking the top and bottom in a swing. UCS_TOP & BOTTOM CANDLE -
Hi guys, USD/CAD is the pair that is on my watching list for this week and is very interesting. The level that I am watching is 1.1917 which can a trend line from 07/2013. Also lets keep in mind that the H&S has already hit target and looks like we are in 5 waves up in this pair. Time for correction or reversal? I don't know, but thing is for sure, if he gets...
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Double top is forming near the daily resistance. Sell one pip low to the last pivot low.
Looking at the tops of 2000, and 2007, it is interesting to see where we are 06. Nov 2014 in price and time related to these two former tops. Calculating the time from the Sept. 2000 to the October 2007 top, and then extend the 85 bars from 2007 to November 2014. Markets can be due for longer correction. Adding the pitchfork shows the index streched on price....
Weekly bottom was formed on 15-Oct-2014 which is one week earlier than our expected ES bottom on this week ended on 24-Oct-2014. The price closed well above the critical sentiment level of 1941.50 on Thursday 23rd and continued the move on Friday 24th towards critical resistance lines 1965/1966. We are looking to buy the dips to 1940-1942 levels and if the price...
Sell near o.8368. An Elliott wave sell setup is forming in C wave and triple top is also formed. Sandeep Gupta, Technical Trader Twitter: twitter.com Tradingview: www.tradingview.com Mail: sandeepguptafx@gmail.com Disclaimer: www.tradingview.com
- The trading dynamics since June 2014 display a market under constraint that can't move higher overall. - It is only showing strength within explored price range. - This last leg up reminds me of the Squeeze that we had end of June 2011, the crash occured 3 weeks later.
- SP500 has had a top every 7 years. - Technically we are at similar postures than in 2000 or 2007. - There is the possiblity of a E (we had ABCD so far over 14years). - In October, SP500 will find it difficult to pass 1980: * Supporting channels that require rentry * Monthly amplitude was already 160pts when average over 10periods is...
Looking to short SPX after this double top. Once the neckline breaks you have several opportunities to place short trades ... Target is the longterm channel bottom at around 1737. Taking first profits at 1845.
Short opportunity on the 240 min USDJPY. Double top. RSI overbought on the Daily chart RSI divergence Bearish reversal candle for Fridays close on the 240 1st Target at the 382 fib (108.421) 2nd Target at the 786 fib (107.320) (previous consolidation) Stops just above recent high at 109.540 roll stops forward to break even at 1st target
See notes on chart. 3 week price change is 1.89% PA could not form new highs all of AUG and PA is seeming to form a rounded top. Price broke through support and and the trendline, but was pushed up by buyers today. wait on confirmation. Buying DEC 130 Puts I think this gap will be filled before the end of the year.
We will see in 20 mins if this is valid double top or not.!!!! SL = 1ATR TP1 = retest of structure TP2 = retest of 2nd structure Entry : Double top RSI Divergance MAJOR MAJOR structure on daily Hanging man