SkyTrees

SkyTrees

Hi folks! This is certainly one to consider as it has followed the rules of the impulsive wave so far. As we most know, wave 3 is usually the most erratic wave which usually results in the highest bullish action out of all of the waves. Market correction on the horizon yet?

SkyTrees Updated 

Chart is pretty self explanatory and I think it's certainly a useful outlook when making trades within this market. One thing that I find rather interesting is the blue resistance which dates back from 1999 has been tested perfectly and has lead to US Oil pulling away from that level. Would be satisfying to see the US Oil to fall from here.

SkyTrees

As you can clearly see, a huge number of confliction points look to be in play currently. I feel that we're on the brink of something huge. Either a huge bull run and a a huge draw down. As a contrarian, I'd say the markets see a huge correction, giving DXY a bull run against of all of it's pairs.

SkyTrees

The monthly plug chart suggests that it's testing support (turned resistance) which dates back to the year 2001 - 21 years later it's knocking back on the support. Plug looks severly overbought on all times frames, including the monthly. Markets are due a correction very soon and the dollar rally against it's pairs could really bite into the plug.

SkyTrees

I've linked the prelude to this chart, slighty adjusted here to take into account the ABC correction. This in my opinion is a healthy correction, healthy movement before finding it's feet onto wave 5 (hopefully) Remember, analysis is one thing. Not trading advise.

SkyTrees

Watch it unfold

SkyTrees

My wave count still seems to be in play and looks to have been correctly labeled. Trend-Based Fib marks my target at around 82ish. Coming towards their earning reports which suppossedly is an improvement to their previous according to JPM. I'm not a holder, just a swing trader.

SkyTrees

Sometimes the most simple tools provide the best analysis. As you can see the S&P 500 Index is at the top of it's channel and I'm sure we can expect some sort of reaction here. Hard to identify, or even imagine a catalyst which will cause a deep correction.

SkyTrees

DXY looks to have retested a support zone to confrim the base of the H&S patterns & my first target is 92.6ish as indicated by the Impulsive wave. Markets are surely finding tops too! Not trading advice, just something to consider.

SkyTrees Updated 

Looks like it has completed the 4th wave in a ABC correction, looks to have found very strong support and on it's way to complete wave 5; which in my calculations aims at the 52'ish range. Stop Loss set @ 26, leaving us with a rather pleasant risk to reward. Market correction is not long away, so be ready!

SkyTrees Updated 

Some work with elliot waves. Made for myself, but worth sharing.

SkyTrees

This correlates well with the dollar index - Would short

SkyTrees Updated 

Hey guys. Just a heads up! Looks like a cup & handle pattern is forming - keep this in mind when considering your potential trading options.

SkyTrees Updated 

Wait for the rejection of the previous support before shorting this. Great risk to reward ratio here. Would advise, with the dollar breaking too!

SkyTrees Updated 

This has taken a lovely shape and is approaching a long term diagonal support. The 76-82 mark is my target based on my wave analysis and 50 will be my stop loss. Enter only when it breaks, even consider waiting for consolidation to confirm support.

SkyTrees

To me, it seems as if USOIL has found the top of Wave 3 at a lovely fib level and will now see a correction to create a wave 4, before shooting off to create a wave 5. There's a wave 3 correction ahead which is usually rather rapid and brutal so watch out for it. I'm going short until the 45 levels before, seeing out the tail of the move before loading up for...

SkyTrees

Interesting looking movement which is worth having in your future trading considerations. DXY has a very similar set up.

SkyTrees Updated 

This looks to have completed a near enough perfect Elliot Impulsive Wave. The Stoch RSI seems to be suggesting that this is on it's way down. This has broken a 13 year old diagonal trend line (maroon) which could be a false BO. I would watch this pair carefully along with the NZD/USD as they're nearing an end to their posotive yearly run with a lot of room to fall.