After the recent market decline it looks like a Neckline has formed on the 182.00 Level that has formed symmetrically so far.
The Grey Rectangle is an estimate of where a Right Shoulder's High would form if the pattern were to complete.
If the Right Shoulder proceeds to form a top in the 199.00 - 202.00 Level I will look to go Short.
The Target being the 150.00...
Taken a Long trade on 21/07/2015 @$22.98
- RSI Crossed Up 30 Level signalling BUY $22.65 ($22.98)
- Testing 50 Level on RSI to break into uptrend
- Diverging Bottom
- Support at $22.50 (Semi-round Number)
- Strong 1H Hammer (High = $22.79)
- Price has just crossed up through the 20MA
- Cyber Security ETF ($HACK) Uptrending but (-8.53% (22nd June...
The GER30 has sat on the 38% retracement of Wave III for 2.5 days now.
Possibly signalling that the Wave IV correction is over and today's gap close and continuing rally is Wave 1 of Wave V.
- 11400 is acting as support
- RSI(14) is picking up momentum
- MACDs are also signalling a change in trend
I will wait for Wave 2 of Wave V to retrace 61.8% of Wave 1...
The Wave IV Correction of Wave III rally (5th June - 18th June) looks to be near completion.
- Wave IV is currently finding support on the Wave B High from 21st May at 1.57 Level.
- Wave IV has retraced almost 38.2% of Wave III
- Bullish Divergence on the RSI(14) and MACD indicators
- Wave III duration = 10 days therefore Wave 4 duration 38.2% of 10 days = 3.5 -...
Yesterday saw a variety of indicators working in tandem to provide a short entry at 11600 level.
- Both the RSI and MACD indicators diverging at the 61.8 - 76.4% retracement of the downtrend from 26th May - 9th June.
- An ending diagonal/ wedge signalling the end of what looks like Wave III
- Bearish engulfing candles at the 11630 double top
Closing the gap from...
Perfect Timing of the IMF to announce, "No progress made."
It appears that Wave A has ended testing Wave 4 of one larger degrees highs at 11450 level. Also finalizing with an ending diagonal/ wedge pattern, and bearish divergence on the RSI (14).
Watching for a possible test of 11164 which is the June 7th Bottom and also the 50% Retracement level of the Impulse...
LinkedIn appears to be moving into Wave 3 of Wave 3 on the 1W Chart.
If this count is correct the target is 1.618 of Wave 1 = $381.00 Level
My stop will be placed under $185.00 - the break of Wave 4 of one lesser degree.
I am watching for confirmation that we have begun a Wave 4 Retracement on 1h Chart.
There is bullish divergence appearing on the RSI & MACD between Wave iii and v possibly signalling a short term bottom.
As Wave 2 was a short uptrending 3 Wave Zig~Zag Correction by law of alternation I am looking for a drawn out 3 Wave Flat Correction over the next couple of...
Scenario 1: Greece Default.
I will be looking for a 61.8% retracement of the GER30 all time highs in a Zig~Zag Correction to the 10415 area.
I am taking the 'correction' as Wave 4 of the Impulse Wave from October 2014. Therefore the lows of Wave 4 cannot touch the highs of Wave 1.
The target 10415 is 1.618 of Wave (A).
Criticism & Comment Welcome!