Previous significant market top that formed a mini double top and drop looks to be happening again.
Monday we should see another gap down and continued follow-through selling, or at least next week which should create a spike in the vix as shown here: www.thetechnicaltraders.com
Indecision in the Market right now.
*Multiple failed attempt to break resistance
*Head and Shoulder formation
*Broken wedge up
*Lack luster volume
*Bearish divergence on RSI
***Motivation for break lower : recession fears
* 50 MA broke back above 200 MA
* Price holding above those two MAs
* Symmetrical Triangle engulfing the H&S (Larger...
Coiling... not sure which way this will break (depends on economic data and/or China news) but I got this feeling that it will hit the upper trend line first before it breaks up or down.
In other words, more whipsaw action
hello trader, I give you my first EUR / USD analysis. I listen to opinions, suggestions. with a lot of humility to learn.
I think you will see a strong break down bear down, since Monday I am trading short with good results
The Dow is currently rejecting significant trend lines on the weekly time frame and we are witnessing decreasing volume from a weekly perspective also.
As many of you know who follow me, these trade set ups are what I look for as it allows me to set up a good risk:reward ratio in my trade plan with significant price action changes having to occur to stop my trade...
Bearish shark implies a 0.5-0.618 retrace to the green box... where it'll paint a right shoulder for either a small inv H&S or the larger H&S. The green arrow seems more plausible since the indices just seem to accumulate with abandon on Fridays.
closed net short trades on BA switched to Long on DIA. trade talks to happen monday and the market looks excited. vix futures still heavily in contango. vix cash below all futures months. based on net change dia options look the juiciest. atm strangle infers plus or minus $3.60. i expect the excitement of trade talks to exceed those levels. i expect to cut...
Everyone says the market can't go straight up. Well, it happened last year, so why not again?
Sure looks like there should be a pullback here sooner or later, but the Feds don't meet again until March. We'll be at ATH by that point, lol.
Major test pending for $DIA of upper downward channel.
Each leg down was followed by a .786 FIB retracement- the latest leg being no different.
.50 Channel FIB acted as prior support and is a good first target for shorts.
Just how much we overshot to the downside in DEC, we've likely now overshot to the upside.
Stochastics started to diverge a week ago.
It looks like instead of a breakdown that I foretasted, we are going to complete a 5th wave. we are getting some resistance from the trend line that I drew from the lower highs since the October selloff. We should be able to get past that. Obviously we have a big PUT underneath us, but I will spare talking about that because that's not TA