Farty McFly: Remember!!! Everything can happen in these insane markets! No Bull crap Bat shit pattern or Elliot Wave will save you... Focus on price behavior, the proces and manage your money properly. Trade safe!
This is not about to open a large discussion about specifics.
It is a "mind-map" I created to get a clearer picture for these fast moving, complex and intertwining markets. It is a pure personal interpretation of today's markets.
Some are hard facts, some are assumptions. Some are hard to proof, like ...
Based on today's price action and previous study.
Most likely a same narrow range day tomorrow.
The strong correlation with Equities (expecting more weakness) will also have an influence, or vice versa.
If everything turns positive (not most likely, but always expect the unexpected in this ...
$8 and $24 legs.
Tightening and shorter timespan price ranges.
From $51 it set 3 exactly $8 legs.
Crude is respecting 20 tick/cent levels in small daily ranges and is very volatile within these small ranges.
Rotations usually around 50 cent, also getting shorter.
FTSE and DAX make days losses back in few hours. Missed this long opportunity. It happened very quick and I was away from the screens for a moment. Very risky to hop in late, we know how quickly this can turn.
Can we go short again? Maybe.
I wait a little bit longer. SPX has some more room to the upside.
Scenario 1 = Green
Pattern of 2011-2012 is still very similar including the double bottom. We have to make a clear turn next week.
Scenario 2 = Red
Pattern of 2007-2008 into 2009 slightly shifted in time, double bottom took place in 2008. This means that the drop already is taking place, one bump and it is off the ...
Sunday evening I published the same chart predicting the target would be reached within 16 days, like a previous period. It did within one day! This indicates which crazy volatility we have at the moment.
Cleaned it up a bit and what's next?
I am still bullish about the EURUSD. Markets do bounce a little today. ...
The tide seems to turn for Crude. See for signs on the chart. Ideally I would say a close above 54 (taking out two previous monthly highs) would really make me bullish. It is not going to 100 again this year. But between 70 and 85 is technically possible (see related idea).
The other scenario is a close far below ...
Bullish above the yellow line or below Bearish very long term.
Expecting some pullbacks towards 30-50 SMA in conjunction with corrections on major indices.
30 SMA is penetrating or going parallel with the yellow line very soon which can act as dynamic resistance.
See period 2002 - 2009 for the exact opposite ...
If Crude manage to close above 50 end of this month, a 38-50% retrace towards 70 can be possible. 61.8% comes in at 85. Do also have a look at the momentum indicator. This is pure from a technical standpoint.
But it is a big IF! Technical analysis aren't enough to make a good judgement.
A close below 45 end of ...
Aussie did violate the February support coming back a little bit. Another support at 0.775 is can act as resistance too. Keep in mind that Copper is approaching a long term downward upper channel band after an intermediate upward channel. Gold could correct to 1185, a long term support now acting as resistance and ...