ElephantCapital

ElephantCapital

Many currencies look strong against the #yen. I have previously posted the $USDJPY chart, which shows that 119+ could be in the making. $GBPJPY presented here, much like $EURJPY, although the $GBP is looking a little stronger against the #yen. Notes on the chart. If this plays out and the yen continues to weaken, this will provide the Nikkei (Japan 225) a tailwind.

ElephantCapital

Clear head and shoulders and in line with cycle count on SPX500. December target zone identified.

ElephantCapital

LIVE update. Notice the cup and handle, and the action around the support/resistance zones - these become parameters for a trade (entry/exit/stop based on closing prices). Play it as you see it. Noting the trend is still down, but there will be relief rallies.

ElephantCapital

The AUDUSD has set a pivot high on a daily timeframe. It faces overhead resistance at 0.744 and again at 0.76. I do not expect a close above the pivot high, yet if it does, I do not expect follow through to the measured move. Confluence at 0.7-0.68: - support zone, - channel, - measured move on weekly - extension of pivot high/low

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Short term trade idea - Short BTC to 30750-30600

ElephantCapital

Chart with notes attached. Please note from a macro perspective, my thoughts to support the chart read, includes: 1. that the recent relative strength in the dollar and the drop in yields tells me that the financial markets might be pressed for liquidity. #dollars trapped in the system as a result of QE? Disinflation over secular inflation? Two messages the...

ElephantCapital

Some #ASX bellwethers are showing that the market is about to rollover. Take a look at the $XJO chart (interesting geometry) and the $CBA.AX and $MQG.AX charts. The $CBA chart in particular looks like an alarming short setup.

ElephantCapital

$XJO (ASX200) some points of potential confluence over the coming days, suggesting a SHORT set-up. Overhead resistance, head and shoulders, against a ticking clock for a daily cycle high to be printed. One final run into a cycle high before rolling over. Tail risk is high, if going long on the ASX. 1. On a short timeframe, the ASX200 looks to be approaching a...