Hello traders! On the previous week we saw a nice upward movement of the market, a gain of about 2 points. Although that week’s price action is green, drilling into a lower time frame (5-10 minutes), we can see the struggle that has happened throughout the week - deep and continuous pullbacks immediately when a new high is reached. This behaviour tells us that...
Price has reached target at U-MLH line and so now is the time to draw wl-5 and WL-1. Immediate target will be wl-5. Expect possible price trap between wl-5 and the upsloping U-MLH. This creates extreme pressure to be squeezed in the red "bermuda" triangle here with strong bias for the price to jettison towards WL-1. When that happens, it is time to draw...
Older chart (Mid Aug) - Shows preparation pays off and that we are still bullish. 10 day is new stop
Previously on 2013.08.23 2013.08.02 2013.07.23 2013.07.24 2013.07.29 Price is expected to hit U-MLH after it reached wl-4. Now is time to draw wl-5 as future resistance or target. However, price will probably retraced once it touches U-MLH and head towards ML before moving up again with wl-5 as next target.
This is what a market leader's 60 min chart looks like. Trying to breakout of 2nd flag
Previously on: 2013.07.23 2013.07.24 2013.07.29 2013.08.02 Price has maintained its upwards momentum this week to advance towards its final target at U-MLH and remains within the blue channel. Expect price to break wl-4 next week and we should be taking the final profit at U-MLH.
FB seems to be at a trend resistance point with some bearish divergence. It's right at a Fibonacci level drawn from Nov low to early 2013 high and butting up against an upper channel trend line.
Nothing bearish here. 2.61% off highs is consolidation. Still above 10 day. We will bounce when MACDs touch
Setup for FB Facebook with clones based on price action and Fibonacci Retracement. Stop loss is 38.55, entry at 40.23, target approximately at 44.20. I forgot to tweak the perpendicular lines, so I will post below, on the comment section.
FB is consolidating before another move on the upside. The gab is filled and the pattern that was starring at me for so long ( and I was ingoring it) is promising a large move on the upside. I do expect re-test of the support line at leg A ( forming also a double top) before heading to a higher high and of course the PRZ. I did not use any indicators or...
Next week, we are expecting price to break wl-3 and a dash towards wl-4 mimicking movement comparative and similar to this week. Facebook is firmly in a uptrend and the infancy of it as well. For those who have longed early in the week, it is good time to move your stops to break-even. For those who missed the boat, next week will present a good opportunity...
In the next few days we can see a change of trend. If we take a look to the chart, we can see a clear bearish chart signal for the next few days: Shoulder-Head-Shoulder. Price nees to consolidate and as we can see right now it is overpriced because bullish forces can't push more than 38$ at this moment, that means that if people consider that prices as an...
Once the market is structured properly, we see how prices conform and respect the lines. The red lines give me a cross-section of the market to see how price will stagger upwards but within this blue channel. Price behaves textbook manner and here we can see how market structure embodies greed, fear, news and sentiments. We can expect price to oscillate in...
I am short on this one from around 35 and was waiting a retarcement around 31.....i still expect that retracement to close my short and go long since the weekly chart shows a clear break out targeting 45....for now i expect a pullback due to technicals
Price broke wl-2 as it begins renewed its previous association with the Upper Band and moved back to familiar territory. Price will possibly remain trapped in this Upper Band for a while..weeks or months until we see signs of breaking away from the Upper Band. Now price will head toward wl-3. It may ziggedy zag in the Upper Band and touch the ML but frequency...