I see the moving average ribbons like a flag, they fly open and boldly either bearish or bullish when are full stacked one way or the other, or when the trend is at risk of changing they furl up and get twisted up. The weekly Madrid Moving Average Ribbon has begun to furl bearish but has not completed the bearish ordering of price action below the ribbon and the...
I have seen a couple of posts showing the current formation drawn as a symmetrical triangle, and that simply isn't the case. This is a descending triangle and the target gets the price action below the long term black trendline. The monthly chart shows the situation quite clearly, and the situation is bearish. The S&P is staged to dump, paper precious metals...
Introduction BTCUSD is being tracked on the BLX chart as it has the longest history and likewise Gold is on the Futures ticker likewise for the history and both are on the weekly time frame. Due to the speed of crypto the cart covers less time overall. The main chart is BLX and the chart below is gold centered on 2008 to 2016. Key Concepts Fundamental...
>be Elon >Genius >Knows basic TA >Sees support is now resistance >see Divergence on the MACD Histogram >Bearish cross of the signal and MACD finta happen >Price action bouncing against the top of the bollinger band >knows how bad the market is >wants attention >Comes on out and says his company is over-valued >TSLA dumps >SPX Dumps >Fools are saying that Elon...
I see a potential head and shoulders created by the interaction of two trend lines. the blue trend line has flipped from resistance to support repeatedly and so has the black trendline. There is plenty of divergences to review on whatever time frame you like but do like the 12h. We can see the signal line waveing gently as it established a lower high while the...
I am just waiting for the price action to test this nice purple trendline as resistance again. If we set a lower high I expect that we will see the ratio come down rather quickly, but it is possible that price action with interact with this trendline and set a higher high before the price comes down to a more balanced level. If I had any gold to sell for silver...
The left chart has our current set of circumstances on the 12H settings and the right has the previous bear flag on the 4H settings. As this move matures we will have to look at higher and higher time frames to determine which one is controlling. The rising red arrow shows on both MACD histograms shows classic bearish divergence between the indicator and price...
In general I like to see a trendline flip from resistance to support as an entry into a long position, backed up by other indicators, of course and here it seems we don't have the appropriate indicator support. The trendline of interest is the rising blue line. Without any other analysis it looks like gold is finding support here but I just don't see the move...
I haven't been the best at naming my SPX/Eurodollar posts, but it seems that this is my sixth post on the matter over the last yearish. So far my most accurate calls on a macro level have been using the movements in the eurodollar to predict what will happen with the S&P and therefor the broader market. I am going to start on the S& 500 and it is just going to...
This post isn't going to make the bearish case, I have done that enough in other posts, this is doing some target setting using basic Elliot Wave theory (this post also assumes you most of the basics). One basic way of predicting some sort of pull back or correction (2,4,A, or C Wave) is to see when a trend line that was support turn into resistance. Now Elliot...
I am constantly looking for trend lines to flip from resistance to support and we are finally seeing that right now. The rising blue trend line frustratingly set a higher high with the blue trendline acting as resistance for three retests. The purple trendline is beginning to assert itself as resistance; due to the hidden bearish divergence on the MACD...
The volume situation on the S&P continues to look bearish. The chart pattern is a rising wedge and we have falling volume as we go deeper into the wedge. The On Balance Volume has the OBV, the 10 and 20 EMAs underneath the 100, which is as about as bearish as one could need if one wanted confirmation. The horizontal line on the OBV shows a technical top on a...
Things loog grizzly right now for the whole world and broader markets but there comes a time where the sell off gets over done, the shorts get squeezed and people think that it is over. Rising support becoming resistance is a key sign that the trend is changing and we have a whole lot of people contemplating going short right now and FOMO'ing in to recoup some...
I am by no means a TD Sequential guy but I know the basics. The indicator does the counting for and you are looking for continuation. The indicator counts up in green if the candle is higher than the 4th candle behind it. The dude that made created the default and concluded that most moves exhaust at count 9. Both of the US indices with major histories have, so...
Once again just the basics here. Support turned to resistance on the price action as shown by the rising purple line. The current peak is ~$10 lower than the last. Doesn't matter how slight that is, that is, so far, a lower high The MACD is bearishly divergent The MACD Histogram is bearishly divergent The RSI is bearishly Divergent. The formation is a...
The BARR bottom is one of the best patterns that one can play for reliability and profit (according to Bulkowski thepatternsite.com) and I see a potential formation here. Paper silver and physical silver prices have decoupled and eventually the paper market must obey the physical market, and that gives us a move to the upside. Lead in should be about a...
This idea still focuses on the basics of price action and volume action. It is a bit repetitive because I have done similar posts so consider this an update to those posts. The blue and red trend lines show where the trend line went from support to resistance, which is bearish price action The black trendlines show divergence on the price action to OBV and...
Very quickly as I am about to be off wageslaving. The rising channel internal structure sets up the inverted head and shoulders and a quick extension of the height to neckline gets us a full performance target just under 3k. Should we get above that falling purple trendline we have set up for a BARR reversal bottom. I post on those alot and so rather than going...