Now that we have the Greece situation starting to slowly mend, I am looking for markets to start finding a new equilibrium related to fundamentals again.
Here we have 2 ABCD patterns coming to the figure of 2150.
Sequence 1 Red ABCD Extension (161) converges with Sequence 2 Blue AB=CD (100) @ 2150.
This is the cash market version, so will do the same to the...
Nat Gas market has been trending with a strong adherence to standard fib levels.
Sizing needs to smaller than other markets given the volatility/daily range of this market.
Current AB=CD (red) converges back at the ~3.10 level.
2.92 has been a major feature over the past 2 weeks.
A retest of 2.92 and break higher will see me increase current positioning.
My favourite trades are those that commence with a fundamental idea and waiting for the technical picture to turn favourable. Many have been surprised by the resilience/weakness of the EUR/USD.
The 127 looks like it is in check by like-minded participants from an extension commenced at A (pink).
I was surprised by the ferocity of the AB Leg (Red) post Greek...
Wait for the first few hours of trade before considering the medium term trade. We have options expiry tomorrow.
Expectations are for a morning selloff then a resumption higher of the trend.
Will look to add during the morning selloff if eventuates.
Strong price action today was much like futures action last week.
We wait patiently!
This is getting really interesting now.
And in the Asian session to see this move is of great note, normally not as volatile.
We are watching this very closely for any additions.
Fundamentals are with the technicals right now!
AB=CD completed (in Red). Now stands at 38 retracement. Similar action in Australian futures with the 24 hours leading up to expiry and the day of expiry (huge selling on no news). Greece news aside we may see this retrace this sell-off. Broker EPS targets the SPX to be at fair value at the 2100/50 level (now current levels). Limited fundamental upside from here,...
Important bull flag formation after a clean AB=CD completed overnight (in red). Pressure building for break higher tonight to 2133 then 2145 (161 level).
Stop at 2107, below previous days pivot.
