Looks very much like a double top to me. Weekly bearish divergence (not shown) too. I think at a minimum we retest the Oct 2018 lows. Great R:R trade to short from here (~3.5:1). A break below that pullback line will open up SPX to sub 2K prices, but let's just take it day by day. GL!
Correction complete after a huge bounce a few weeks ago. Needs another impulse to the upside to complete a larger correction. Daily bullish divergence says this thing bounces soon. Go long and check it in a few weeks! GL!!
EURGBP looks to have hit the bottom of that channel to perfection and with three corrective waves, looks poised to begin the next impulsive move to the upside. Bullish divergence on the daily also suggests to me that it bounces over the coming days too. Couple that with Brexit focus, I think there will be some weakness in the GBP, thus EUR should outperform. GL!
Two clear 3 waves within this corrective structure. Looking for a 5 wave impulse to complete the C wave of this flat. Bullish divergence on the daily too. So we should see some kind of pop over the coming days. GL!
More bearish divergence on the 4H (daily and weekly too). As we can see, each time divergence is present, we get a nice shorting opportunity before the trend continues upwards. I'm by no means calling long term TOP, but on the 4H we have topped out IMO and should get a decent dip to the mid to low 1300s, thus it's an excellent shorting opportunity for those who...
Epic shorting opportunity here!! The past 10 years looks to have been a huge 3-3-5 flat. Given we have had one impulsive wave to the downside prior to it, I believe we will get one more impulse to the downside to complete the correction.
- B shows a clean 3-3-5 flat
- B completed at the .618 fib retracement of A
- we've only had one impulsive wave...
Looks to be putting in a large triangle for the B wave with the C wave of this triangle very close to completing. Bearish divergence on the daily and weekly TFs. So we pull back at least, but i'm looking to short this D wave down to $105. GL!