ShivkumarMenon

ShivkumarMenon

as usual chart explains all.....lets make some more money this year :)

ShivkumarMenon

I published this chart when gold was around the 1180 $ mark, now i come purely from a technical background, which means i don't refer to news headlines, Trump, Iran, war etc. Now that gold has started going up we have many expert comments like "a combination of economic uncertainty" "trade worries and rising interest rates sparked fear in investors who hurried...

ShivkumarMenon

Either market will fall from the 4100 region or a rally towards 5000 and then drop below 3500

ShivkumarMenon

So we have two scenarios over here, either a small rally towards the 2600 area or a rally towards 2800 and then a drop towards 2000 and below. Long term this market has entered the bear market and we could see levels of 1600 in the long term (refer to my previous post) I will sell around 2600 and join the bear if markets get to 2800, selling is recommended

ShivkumarMenon

Again all the pundits are surprised, there are news about how trillions have been wiped away from markets, people are buying the market calling it a "so called Christmas sale offer" People either tend to buy at high or sell at low and get trapped both ends, and then there are few who wants to catch the falling knife. Then the big question is "who is actually...

ShivkumarMenon

Not every is perfect, but yea lets not make assumptions or draw our own angles and lines and wedges and triangles and so on. During my early days of trading, i saw a college intern scaling many lines on the chart, and what was interesting is, it was on 1 minute chart, i could barely see the candles. I asked him what was he trying to establish, he smirked and said...

ShivkumarMenon

the chart explains all....refer to my earlier post ...i was long from 1180...i don't understand why fellow traders want to short this market...the moment anything goes up every one wants to sell.. we are heading to the 1350 handle ...once the A-B-C is done market will target 1500$ ...good luck

ShivkumarMenon

short the pair with a stop above 114.21 on a daily close, targets around the 109.50-110.00 handle that will provide buy levels for the upside levels of 120-121

ShivkumarMenon

I have been bearish this pair since the 5th wave ending at the 20,000 handle....the drop is a larger A-B-C correction and probably a bubble I see posts from my fellow traders on their views about the BTC, it was quite interesting to note that post with "BUY" had more views as compared to "SELL" posts. This clearly shows the sentiments in the markets or probably...

ShivkumarMenon

so just a quick update, as long as market is below 6544$ market will remain bearish, a small wave (ii) will give a chance to sell again i like the optimism of the mooners and the hodlers, and also its good to read some post about panic selling, triangle breakouts, splits, regulators and so on :))))) kindly refer to my old post for levels

ShivkumarMenon

OK so not sure how many of you went short the YEN, here is the latest update, no change in the outlook and markets is doing as anticipated (check my previous post), wave (x) will drag the prices lower towards 110 - 109.50 region This region will be the ideal levels to go long on this market, the longer term target still stands at 120.00 ...good luck

ShivkumarMenon

Just as i thought and published over the past few weeks, the question is, is this the BUBBLE or a long term bear market, with market going past the 6055$ with ease, there could be acceleration towards the 3800$ mark, stops can now be moved to 6550$ on a daily close, aggressive traders can move trailing stops on an hourly closing candle...THIS IS A BEAR MARKET AND...

ShivkumarMenon

With due respect to all the traders out there :) we all draw lines and we all know from where the market will turn but unfortunately not many survive the onslaught. How many a times has the stop hit or market did exactly the opposite what the wise man has predicted. I once read when i started my career 20 years back, "the bulls and the bears wins the race while...

ShivkumarMenon

sell the yen in the A-B-C correction...stops above the 114.55 on a daily close...markets will target the 109.50 handle over all this is a bullish market, refer to my previous post for the long term targets (120.00)

ShivkumarMenon

one of the most boring markets ever, the party is not yet over though....as long as market is below 7412 $ the chances are for a more bearish correction towards 3800$....however i will not join the party yet, with the market in no mans land i will wait for the 6055$ to break to join the bears

ShivkumarMenon

I SEE POSTS AND THE STOPS DOES NOT MAKE ANY SENSE, IT IS SO VERY IMPORTANT WHEN WE DEFINE A STOP OR TRAILING, MOST OF THE TIME TRADERS OPT FOR SHORT TERM TRADES AND GET TRAPPED, RISK REWARD RATIO AND THINGS LIKE THAT, I HAVE TO ADMIT ITS HILARIOUS, ITS LIKE DRAWING A TREND LINE ACCORDING TO OUR CONVENIENCE TYPICALLY STOPS SHOULD BE USED DEPENDING ON THE TIME...

ShivkumarMenon

WELL THIS TOOK SOME TIME ....AND I FINALLY GOT MY DRAWING SKILLS RIGHT....:) REFER TO MY EARLIER POST WHERE I WENT SHORT AROUND THE 7800$ ....MARKET IS IN THE 3 WAVE AND THE PROJECTED TARGET IS AROUND 4500$ AREA....UNLESS 7412$ ON A DAILY CLOSE GIVES AWAY THERE IS NO REASON TO ABANDON SELL....THE MARKET IS IN A LONG TERM BEARISH MODE ...GOOD LUCK TO THE HODLERS...

ShivkumarMenon

if you would have followed my last post on the yen...i had recommended sell around the 114 region and then go long on the 4th wave...market has rebounded of the region and now we can have one final thrust towards 115 before market coming down...stops will be below the 111. 80 on a daily close.....