So many indicators showing signs of reversal here:
Linear Channel Regression Breakout (dotted yellow lines)
Cross up and over the 100 Day MA (lime green solid line)
Cross up and over the 1D Ichimoku Cloud (not pictured in my chart)
Most notably, the inverse head & shoulders pattern has been confirmed. Might retest neckline, but based on the angle of this...
Getting this chart up for a long entry at $45.41, based on the 50% retracement holding at $44.68. Based on the prior scorching downtrend, really wanted to make sure that this held first.
*My fib retracement tool is reversed to show extension levels*
Take profit: $49.33
Stop loss: $43.75
Floor trader pivot gave support on S1 at around $42.50-$43. Someone pointed...
On any given time period, you can place a box from a wick and span it across the chart. No interference of a price level usually means that outstanding orders still exist. Thus, buyers or sellers may be present at that level again to fight opposite of the trend since they were just pushing from those levels before.
It's a great gauge to understand how much price...
S&P Futures just opened this Sunday afternoon about 40 points up, based on results from the meeting between USA and China at the G20 Summit.
Beta of Ford Stock is 0.7229, and S&P Futures are currently up 45.50 points (1.65%) from Friday's session close. Of course, we will keep an eye on /ES futures as they continue to trade up until the market open tomorrow, but...
This symmetrical triangle pattern has a take profit of $120. Breakout occurred when price converged and then descended from the $205 area. Take profit is calculated by using the height of the triangle. So $255 - $170 = $85. Breakout from $205 means $205 - $85 = $120.
Aside from the above, Ethereum just broke through the 2018 low of $167. It is in no-man's land...
61.8% Fibonacci Retracement on DXY at 96.44. As you can see, my Fibonacci tool is reversed to show extension levels so the 38.2% indicator is actually the 61.8% pullback.
Stop loss slightly below 61.8% if it is not bought up here; this last fib level is usually very precise and does not require a wide stop loss.
See description for the chart I just posted. Take profit at bottom arrow, whenever it is hit in the profit zone.
Should result in between a 3:1 to 4:1 risk/reward, depending on how quickly it falls back to the bottom of the regression channel.
This chart shows price at the absolute top of the downward regression channel that has been formed since September 24, 2018.
The November 7, 2018 trading session gave us a clean shooting star candlestick (indicated in neon green text), followed by a bearish confirmation candle on November 8, 2018.
After retracing back up to these 1.14 levels that were just sold...
This pattern is not complete, but it is getting close.
Confirmation of this pattern will occur if index closes below 23400. If that happens, we will likely be entering a mid/long-term bear market for many stocks.
More info on this pattern can be found at: www.investopedia.com
Fibonacci High on September 26, 2018: 1.17980
Fibonacci Low on October 9, 2018: 1.14322
Fibonacci 150% Extension Price Target: 1.12493
See previous H&S chart for that level identified.
Price may fight to pass through the previous all-time low, identified in orange with gray box, but should still clear through it.
Shorter-term H&S confirmed, breakout should head to about 1.10.
Take profit level depends on the height of the "head". Since its slanted and on a shorter time frame, I've measure about 0.04 worth of movement below the neckline.
Stop loss at top of right shoulder.
61.8% Fibonacci Pullback held a few months ago at 1.24656. Shorting then would have been perfect.
Since the trend is still in early stages, I will short now with these stop loss and take profit levels:
Take profit at 0.92344
Stop loss 1.1850 (see previous chart showing Inverted H&S forming. If 1.1850 level is hit, H&S would be formed and I would look to reverse...
Reversed my Fibonacci Retracement Tool to show the extensions. 61.8% pullback occurred at 88.951 and held perfectly.
I didn't post a chart back then because I just noticed this pattern and how key that level was for a hold. The index moves so slow, it is still early enough to get in on long USD trades for the foreseeable future with leverage.
Watch out as DXY...