Brown.Michael.6

Brown.Michael.6

from the higher tf there is a s/r level at 120.08(red line) price has recently broke down it impulsive. i am expecting a pull back to retest this level from below to confirm it as resistance. my Target will be the pink line 118.55

Brown.Michael.6

the Dow is showing signs of a lot of weakness and if the Fed raise rates this will only add fuel to the fire. a break and close below this trend line will bring a few targets into view marked by the gold lines, as we can see all the indicators are agreeing with this weakness.

Brown.Michael.6

after the break of the major down trend there is now a bit of consolidation, on the 30 min chart there is a flat level forming , a break of this could see more upside. there also seem to be positive reversal showing on the indicators. a lower low below 2.264 area would invalidate this trade set up, ideally another higher low would offer a more favourable R:R

Brown.Michael.6

the Nikkei's recent up trend seems to be weakening. on the CCI we are getting some divergence, also on the RSI and SlowStoch it is appearing although not as notable yet. i will be looking for opportunity from the 4HR chrt in the recent past it has put in triple tops before moves down, but each move has been have less power. there is a strong rejection candle...

Brown.Michael.6

s&p500 rejected the 38.2% Fibonacci retracement and 50 day moving average with a strong bullish engulfing or key reversal candle. Despite this high momentum rejection of the 38.2% level, it may pay to keep in mind that the move to the 38.2% retracement is often just the first leg in a deeper correction. Signs of this rally peaking below the recent high might be...

Brown.Michael.6

on the daily chart we have a Possible head and shoulder pattern setting up, and possible trend line break setting up. if both happen it could show a big potential move up in the short term. with a possible profit target (1) at .7277 area. so far with the head and shoulder patter there is a left shoulder and a head, price action over the next few day will show if...

Brown.Michael.6

on the daily chart we have a small bearish candle in between the 8sma and 30wma, this to me is on the break of the candle offers a good trade to recent lows and the potential to more downside. (note as im writing i had just been triggered on my trade)

Brown.Michael.6

On the 1h chart we have a nice level forming with lower highs forming and stop above the most recent lower high opens up the chance to retest the lows around the .704 level this trade will offer a R:R 4:1 and has a chance to form another lower high for a better stop loss. the inducator's in my view seem to be flat t slight bearish offering a bit more weight to the setup

Brown.Michael.6 Updated 

in my last post I talked about 3 ways the Nikkei could go before going up, it has gone though the lower end of the range and bounced off the trend line. I ended up missing this trade due to being away. but there is now another set-up approaching : when we get to the top of the range expect an explosive brake out to the upside, having had 3 touches we will brake to...

Brown.Michael.6

on the EURJPY after a break down though a strong resistance level, marked by the pink line. price over the last few trading days has rejected it. we now have a nice candle, (that as im writing has just triggered me into the trade.) that in between the 10 and 20 MA and show rejection of the 133 level. my entry is the break of the candle and my stop is above the...

Brown.Michael.6

on the DAX we have an opportunity for 2 buy set ups: 1 we have a small bullish candle near the 10 and 20 MA a break to the upside of this candle i see more upside potential to the top of the triangle. and the 2nd set up is a break of this triangle could see more up side towards the 11100 area. if both set-ups trigger they both offer a good R:R with the stop being...

Brown.Michael.6 Updated 

after a huge move though the 5300 level, price is drifting back to the 5300 level, the current trend line and working off some overbought conditions. i see this as a good place to renter to the long side, note there is some resistance at 5400, but i believe if we go back there we will break though. as i am writing this i have been trigged long, my place where i...

Brown.Michael.6 Updated 

on bed bath & beyond there is a nice support and resistance level going a long way back, marked by the pink line also nearly this level is a pivot point marked by the red line and also lining up with this level is a 50% of the last move. if price moves back to this level and rejects i see downside to around the $50 level. at current levels if it gets trigged the...

Brown.Michael.6

over the last week my previous post didn't plan out, price action has been bouncing around in a trading range, working off over bought conditions. i see 3 options of how this will play out, the first way and my preferred option is price moves towards the bottom of the range and either bounce's off the 18700 level or puts in a higher low back to the top back to...

Brown.Michael.6

After breaking though a recent up trend, Copper has be consolidating around the ~2.328 level. it has been making lower highs and now has 3 touches, at the 4th time at this level i expect it break though explosive to the down side. this will be in line with the major trends on the monthly and weekly charts. also adding to this is the SlowStoch has crossed over to...

Brown.Michael.6 Updated 

oars is showing a potential breakdown, if price breaks 225 i expect a bigger move. this set up looks better on lower time frames, but i don't have it on tradingview. also adding weight to to the trade is the RSI below 50, the Slowstoch is down trending, and also a nice sell set up a few days ago in the moving average zone marked by the yellow arrow.

Brown.Michael.6 Updated 

on the daily chart the is a nice small bullish candle back in-between 10 and 20 MA my stop will be going below the low of the candle from the 23rd and entry a few points above 1170, if we see a break of 1170 we can expect to test the most recent highs just above 1190 and potentially 1200. please note this trade can be a bit riskier as the FOMC is meeting and...

Brown.Michael.6 Updated 

on the daily we are now a bit over extended , i see a good spot to join the trend on a pull-back to around the $36 mark. the reason for this that there is a pivot point(marked by the red line) it is lining up with a 50%level from the previous swing, and it also lines up with 38.2% fib level from the one before that. if price retaces to this $36 area the moving...