RationalTrader

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Joined
Markets Allocation
39 % commodities 23 % forex 2 % indices 36 % other
Top Mentioned Symbols
ES1! 23% | 24 XAUUSD 16% | 17 EURUSD 14% | 15 CL1! 10% | 11
RationalTrader RationalTrader ES1!, D,
ES1!: Waiting for some correction
71 0 5
ES1!, D
Waiting for some correction

Pulled out long some hours ago. There's a raising wedge on the chart, most visible on the weekly time frame.

RationalTrader RationalTrader ES1!, 240, Short ,
ES1!: Expeting more consolidation next weeks
41 0 5
ES1!, 240 Short
Expeting more consolidation next weeks

Minor wave B (green) seems likely to break into wave C from the current wedge shaped top

RationalTrader RationalTrader CL1!, D, Short ,
CL1!: And finally the breakout occurs
128 0 5
CL1!, D Short
And finally the breakout occurs

There is obviously more downside ahead now. First level to watch now will be 47,18, last low, and respected Fib level.

RationalTrader RationalTrader EURUSD, 240, Short ,
EURUSD: Expecting a break out here anytime soon
89 0 7
EURUSD, 240 Short
Expecting a break out here anytime soon

Current view suggest we should see a break out to the downside from the triangle forming ahead. The move upwards the last days is seen as a corrective minuette wave 2.

RationalTrader RationalTrader CL1!, 60, Short ,
CL1!: Classic trendline break
77 0 6
CL1!, 60 Short
Classic trendline break

Some more downside very much likely at this moment. See my free blog for more free forecasts: http://rationaltraderblog.blogspot.no/

RationalTrader RationalTrader ES1!, 240,
ES1!: More downside seems likely
69 0 6
ES1!, 240
More downside seems likely

See my free blog www.rationaltraderblog.blogspot.com for comments on my charts

RationalTrader RationalTrader ES1!, 240,
ES1!: Minor correction upwards in longer term consolidation
55 0 7
ES1!, 240
Minor correction upwards in longer term consolidation

Waiting for a minor wave B to complete upwards before a longer wave C down towards 2260.

RationalTrader RationalTrader EURUSD, 240,
EURUSD: Possible current wavecount
102 0 12
EURUSD, 240
Possible current wavecount

Soon moving into a intermediate wave 5 downwards after a wave 4 correction.

RationalTrader RationalTrader CL1!, D,
CL1!: Doesn't look to pretty for oil price in 2017
93 0 7
CL1!, D
Doesn't look to pretty for oil price in 2017

Price is forming wedge shapes, that looks logically likely to break to the downside sooner or later. We might at least get one more leg up inside the blue wedge before a potential break out.

RationalTrader RationalTrader EURUSD, D,
EURUSD: strong resistance above now
130 0 10
EURUSD, D
strong resistance above now

This will be interesting. I am not sure price is strong enough to break out to the upside of this structure, yet.

RationalTrader RationalTrader DXY, D,
DXY: consolidation at strong support
22 0 6
DXY, D
consolidation at strong support

Looking for a flat correction before more upside

RationalTrader RationalTrader ES1!, D, Short ,
ES1!: Waiting for more correction to the current long term bull trend
46 3 6
ES1!, D Short
Waiting for more correction to the current long term bull trend

Chart should not need any more description for the seasoned technical trader. Inputs and comments are welcome:)

RationalTrader RationalTrader XAUUSD, D,
XAUUSD: Gold in a major dowtrend
130 0 9
XAUUSD, D
Gold in a major dowtrend

Expect gold to run lower in 2017. We're inside a larger wedge, -a possible wave A of a bigger ABC correction on the monthly timeframe. Upswings should as I see it now only be seen as temporarily corrections. The closer we get towards the apex of the wedge, a breakout upwards will be likely. Next level to see how price behaves now is 1171, fib 0.382 of the ...

RationalTrader RationalTrader CL1!, D,
CL1!: This wavecount suggests one more leg up in the wedge
117 0 4
CL1!, D
This wavecount suggests one more leg up in the wedge

This wave count suggest one more leg up to form an intermediate wave E before a larger price drop. In a primarily wave count (dark pink) I am open for the possibility the blue wedge being a wave A in a ABC correction. Stay aware that price might as well break out at point (D) as we are moving pretty close to the wedge's apex now. If point D is broken I suggest ...

RationalTrader RationalTrader EURUSD, D, Short ,
EURUSD: EUR/USD in corrective pattern
77 0 4
EURUSD, D Short
EUR/USD in corrective pattern

EUR/USD seems to be in a corrective wave pattern in 2016. I am expecting a combination of corrections, where a zig-zag 5-3-5 with two truncated 5s in the impulsive patterns, seems to already have formed. We now further seem to be in a X correction down, consisting of 3 waves.

RationalTrader RationalTrader XAUUSD, D, Short ,
XAUUSD: Waiting for the current impulsive structure to break soon
223 0 6
XAUUSD, D Short
Waiting for the current impulsive structure to break soon

After a five wave impulsive structure, we're seem to be break out in an corrective pattern, forming a wedge shaped A wave. Leading Wedges like the structure currently forming can only appear in the 1st wave or the A wave, supporting the idea (Elliott wave theory).

RationalTrader RationalTrader ES1!, W,
ES1!: wave 5 under construction
44 0 4
ES1!, W
wave 5 under construction

Wave 5 seems to take the firm of a wedge which is not that unusual. But trade carefully this autumn as a corrective ABC pattern will come after the 5th wave if this pattern proves viable. It should break the weekly trendline, and wave 4's zone at around 1800-2100 would serve as the first target for the correction. Wedge seems technically it will break before new ...

RationalTrader RationalTrader CL1!, 60, Long ,
CL1!: strong weekly trendline being tested
66 0 3
CL1!, 60 Long
strong weekly trendline being tested

Price seems ready to break above the weekly (purple) bearish trendline now. See my related idea below as well, there is a wedge on the weekly chart.

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