The National Bank of Greece is one of Greece's largest banks. That makes it a good measure of local speculative interest, financial stability and distinctly a liquidity barometer. I like it for day-to-day assessments of the view on negotiations. Unfortunately, confusion is so deep, that is starting to suffer the same deer-in-the-headlights distress as the Euro, ...
The Euro is a deer in the headlines and implied volatility measures on the currency seem to be drawn down by tempering in other asset classes. Looking at Greece CDS, we have an instrument issue - we had a technical defaulted with the debt restructuring years ago and they have never been the same. Looking for a more sensitive and perhaps accurate gauge of ...
There seems to be some calming down of this and flattening of the downtrend.
Big vol spikes on up movements in price over the last 4 months, and the volatility is subsiding.
This looks like it could be a double bottom, I put my stop entry price at 1.61 because the last breakout failed and it was 7c higher than the previous high, so 1.61 is 10c higher than the ...
As of now technicals are confirming a potential ab=cd that could be formed in NBG over the next few days if the bottom support range of 1~1.23 held providing an excellent 3.88 risk reward.
Some upcoming catalyst:
-Greece reform plans (April 8~9)
-NBG quarterly earnings. 4/2/2015?
I think it is quite unlikely that Greece will be leaving Eurozone (yet).
Even if ...
Sometimes knowing the general direction of fundamentals will be more than enough in trading, the charts says everything of what the market intended.
News are just meant for distribution of expensive stocks to the average joe.
Had a pretty good trade from this :)
There has been a massive about of accumulation over the past week. Im sick of being wrong with NBG (look at any of my previous charts) so I'm not going to bother guessing what will happen. Just wanted to share this with the world.
What I thought was previously a flat, is looking more like a impulsive 5 wave down. Now, is this the death of NBG, or a temporary bottom?
The fib here is the length of wave 1. We are going so low, I highly doubt that we will retrace a full 100% of wave 1, but you never know. I would wait for more proof of a bottom (heavy volume, etc) before trying to catch the ...
NBG price is revisiting the lower MLH of minor fork b. Looking for price to show signs of support in this area. Major fork A is still in control but price is showing signs of of a retest is coming of the center line of fork A. This will be the biggest obstacle to the target 3.60.
In my larger NBG count, we are in a wave 3 of C
Here I have zoomed into that wave 3, where it looks like we are near completion of wave ii of 3. Im explicating a strong sudden move to the upside here, similar to the impulsive waves 1 and i. We are EXACTLY at the 61% retrace of wave i, and if we follow EWT guidelines, I expect our wave iii move up to around the ...
NBG Long term Chart:
I strongly believe we are currently in a corrective wave 2 of a long term wave C pattern that should complete near the fall, end of the year.
What I previously thought was an expanding diagonal (https://www.tradingview.com/v/XG2mSMoK/) now appears to be a double zig zag corrective wave 2. If A=C in ...
Now might be the perfect time to buy to enter right before the strong bullish wave 3. It looks like wave 2 has developed into an expanding diagonal. Here is a zoomed out version of where we are on the longer term:
Here is an example of an expanding diagonal: ...
I am holding a 2 year call options on NBG. Making some shorter term charts to track the progress.
Indicators have been very straight-forward on this name recently. Bearishness on indicators, with double top on on price follow by a lower high, made this recent decline to 4 pretty predictable. 20/20 hindsight of-course. I predict price will rebound to at least ...
Looks like we will find next support around 4.25, which is also 0.618 of wave A. That RSI was at 11 today on the 3 hour....I expect the bounce up to be just as violent. Target depends on how C wave plays out, but 7.62 is a full copy of A, and 9.73 would make a 1.618 move.
A little while back ago, I noticed this reoccurring "flag" pattern.
So I decided to take a step further, and see if these patterns had any relationship with the golden rule.
I applied Fibonacci time zones and noticed an amazing pattern. One time zone remained flat in price, while the next one had a very significant price ...
Elliot wave professionals out there, I really need help with this one!
Here is the National Bank of Greece on a long term Log Scale.
We are still stuck in a downward channel, but I can't for the life of me figure out the Elliot count for this one, particularly near the end.
Anyone out there have any suggestions?
Short term breakout on daily + trend line support in weekly draws my attention to a sharp rally scenario.
Elements of this trade requires: - 6.42 breakout & hold (previous high) - 50% RSI + SMII cross.
Primary targets are 1 & 2 fibonacci retracements, certainly hitting trend line, secondary targets are a & b.
If this breaks out strong it wil certainly fill the ...