Technician

Technician

A long term Trend line break, accompanied with a period of high volume levels, which is a typical accumulation phenomena, price then managed to break the long term 52-week average and forming a potential inverse head and shoulders. Having that said, i am looking for a turnaround and further gains for CLF in 2014.

Technician

Potential for a rebound as price prints a hammer candle with a spike in volume levels at a horizontal support. Please check my earlier secular view of Apple at

Technician

Shorting the EURUSD if a pullback materializes toward the broken double top formation, the neckline of the double top is around 1.3710.

Technician

The chart is an illustration of multiple medium to long term potential channels. Are we nearing a long term top? or will break higher and draw a new secular bull trend?

Technician

Price failed around the major high at 102.22, heading back lower within a minor falling channel, a break and weekly closing below 94.00 may give further confirmation for the the bearish formation. That could signal a move to 83.30 major low and neckline for a major long term bearish double top. Note: This is a non-confirmed setup and might be...

Technician

Price is heading towards the major targeted low in my previous medium term view As AUD took a major hit after RBA governor pressed that strong Aussie is not helping the economy, hinted 0.8500 level would better for the economy. So is it a matter of time ? Don't fight the RBA :)

Technician

Interesting correlation between copper and WTI Crude oil illustrated on chart, as copper has been a good leading indicator or crude in most of cases(at least within the past few years). A nice setup was seen August-September, when crude was breaking higher due to geopolitical risk(tension of war on Syria) while Copper was trading sideways and under pressure,...

Technician

The price has retested the long term resistance at 1.0655, initial reaction was a rejection last week. This level may provide good short term scalping shorts.

Technician

Update: closed at 0.9030, on NFP Profit/loss=-15 This analysis is based on the overall view i posted earlier at I am looking for a short term correctional bounce within the context of the bear channel, as price completed an hourly double bottom, while RSI momentum continues to show positive divergence

Technician

Update : first target hit, moved stop to break-even for second half, stopped at break-even Profit/loss= +$23 Price has successfully changed stance from bearish to sideways after breaking the bearish channel. A bullish divergence is clear on RSI, while a major engulfing candle on the daily time interval. Looking for a move towards the recent main high at 1258...

Technician

Update: first target hit, moved stop to break-even Closed first half at first target= +90 Closed second half at 102.11= +74 An outside bar on a test of 1.618 extension level and potential reversal zone for a bearish Crab Harmonic pattern. The pattern's target is near the 38.2 retracement level at 101.00. A more conservative target at the low of the outside bar at...

Technician

The retesting process of the broken channel has taken some time here, but correction remains within a potential rising wedge , and bearish breakout remains intact. I remain bearish so long as daily closings remain below 1.3650

Technician

Not Ideal but valid Bullish Gartley harmonic sequence in play, supported by a swing failure in bearish momentum, and a bullish candle stick formation

Technician

Gold could be heading towards the top of the falling wedge pattern, as price formed a strong pin bar hinting rejection around the bottom of the wedge. A retest of 1295 swing high is likely.

Technician

Update: reached target without triggering entry, trade cancelled. If symmetry is the case, wave A clone points to a correction, as price hits the rising channel resistance A major pin bar also seen on the daily time interval

Technician

Price has been in a sideways ranging market since May-2011, where the 52-Week BB has been a good envelope for price action, good short and long signals on stochastic crossover near upper and lower bands, the middle Band has been a good resistance/support level as well. Stochastic oscillator is best used in sideways market; most overbought/oversold crossover...

Technician

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Technician

Swings from excessive bullish and bearish sentiment have been a good contrarian market indicator for the past 6 years. Every time the indexes of stocks above or below 200-days Average reached an extreme of 90-100 percent a correction in DOW industrial was close. Instances where the index started falling, diverging away from the DOW index( indicating internal...