The high-volume shooting star of January 2016 coincided with the bearish breakout of the Stoch TL. The highest point of the rally is not only an intersection point of parallel MLs but also a Fib confluence level. These all suggest a bearish turn in the trend. The area pointed by the red circle is likely to be visited, after which I charted two possible courses of...
The wave count in this chart differs from the one in the monthly. If this one holds true, we should be in W3:W5:W4, which is supposedly in a rectangle shape below the previous major support, which is now our major resistance (the red line). Daily analysis will give us a better understanding of the inner structure of the wave in making, and will hopefully provide...
It seems what W. D. Gann said some half a century ago still holds: "Soybeans is the king." Now this king is still away from a powerful support. It so seems that a 5-wave move is to be completed by the LMLH. Stoch seems quite happy and restful in the oversold zone. We are in the sixth narrow monthly bar, and technicians would love to see a NR7 breakout. But what I...
This is my first trade in the project 1000x. Both monthly and weekly views show that there is still place for the bears to push the price lower. We had a good red candle with bearish Stoch crossover at a key TL. Hidden divergence is in play, too. Thus, I risked somewhat $500 for this is my first trade in the series where I take the challenge of turning a grand...
I am not sure if seeing the last price action within a triangle is a legitimate technical stance, but it seems the triangle break is imminent. Bullish targets for this breakout is so close, so let's hope it's going to break the support. I will not trade this until the weekly picture is cleared.
Some lines I see important are in the chart. It seems the downtrend is paused for a while, and will probably continue to eat more beef until the ML. We will see how far this consolidation will last. In-range opportunities might occur on both sides.
It is known that there is an 80% probability of the price visiting the ML. But the major trend is bearish, and it will be so unless the red line is broken. So it would be best to wait for a shorting opportunity at a key level. A weak candlestick pattern together with a bearish Stoch crossover at the the green line might be a strong bearish signal. On the other...
The major bullish trend is still in effect. The final downward leg has been rejected by L.5 fan line, which I think will be revisited. So that means the bears still have a lot to do. Though, I will not be on the short side until I see a bearish crossover in Stoch unless there's a must-sell signal in a lower time frame.
It seems all in all that trading opportunities for both sides are possible, and it needs proper investigation in an intraday time frame.
Nice test of an old low with a nice divergence in the Stoch. Bullish crossover in Stoch paves the way for daily longs with a lesser degree of confidence.
As far as I can see, the pitchfork technique seen on the chart is what it fits best to markets in range.
This analysis should be taken into consideration with the assistance of the weekly view. That being said, if the red arrow is really the beginning of a new major trend, then we need to see a corrective bullish structure which will halt at the ML. I expect to see that the Stoch will signal a bullish opportunity and will fail. This failure will be a confirmation for...
Lots of lines at work here to construct the price, its past and its future. In the monthly view, we suspected a fresh start for a new major downtrend which should have been started in this chart at the latest bearish crossover in the Stoch. It seems now that the downward kickstart has had its first leg stopped by the Fib .5 line. We will see if the downsloping...
This is what is left over from a lengthy analysis. First we need to wait for the top at around 90, which is a power zone. Then, we will wish for a clear sell signal therein.
The price travels within the symmetrical triangle towards the apex at which a longer-term decision will be given. The latest downward move is headed towards Fib .618 level, which also a confluence zone. Now it seems it is best to watch how the price structure will be formed and what the market will do at that zone. Stoch-based short-term trades seem possible in...
Seen in daily, this pair might be giving us a good buying opportunity. But I am tempted to wait for the bullish correction to end. Then, I will be on the short side. This point is because of the strong bearish indications in the weekly and monthly views.
It seems the queen's currency is in trouble. Let's see how it will react to the green TLs. As far as it can be seen from here, the indicators and the price action suggest a deep fall, thus opening the gates for shorting opportunities in the shorter time frames. Though a final decision will be given in the following months when the market tests the rising lines.
With the monthly view, we have a double criss-cross pitchforks at work here. The suggested corrective structure in the making should be waited for to form. It seems there is a good deal of profits before us if the formation we are now in proves to be actually of a corrective mode. I think I can use this pair as my first trade in the 1000x challenge. Oh, I never...