captain_smollett

PRO
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Last visit Joined a year ago Spain smollettTV
Tweeting some trading thoughts. Welcome aboard!
Markets Allocation
39 % forex 8 % commodities 7 % stocks 46 % other
Top Mentioned Symbols
EURUSD 10% | 16 USOIL 10% | 15 DXY 8% | 12 SPX 7% | 11
captain_smollett captain_smollett PRO DXY, D, Short , 22 days ago
DXY: DXY. Reversal zone would confirm the Head & Shoulders pattern
202 1 19
DXY, D Short
DXY. Reversal zone would confirm the Head & Shoulders pattern

An eventual H&S Pattern may be forming at the US Dollar index. If price gets stuck in a 102-103 area, for me it would be a perfect place to open shorts, targeting 96 zone. Last CFTC report shows Retail traders have bought from the Large Specs while Commercials have increased their position. Normally, that happens when trend is exhausted and ready for a ...

captain_smollett captain_smollett PRO EZU, M, Short , a month ago
EZU: EZU. Eurozone: still alive but for how long?
33 1 8
EZU, M Short
EZU. Eurozone: still alive but for how long?

What will be the problem: Brexit, Greece, Turkey, DB/italian banks/swiss banks or the new refugees crysis? Maybe, all together plus something else which we are not aware of yet? Probably, this is the reason why the ECB won´t taper the QE programme?

captain_smollett captain_smollett PRO JPN225, D, a month ago
JPN225: JPN225. Nikkei full of zigzags and patterns
97 0 10
JPN225, D
JPN225. Nikkei full of zigzags and patterns

Nikkei may have offered two following trading opportunities which are pairing with the zigzags we see on USDJPY forex pair. First of all, a bearish Cypher pattern has just completed today. I will short the market on opening, targeting 19215 and 18995. SL set at 19700. If the trade completes correctly, I will long the second pattern, a potential bearish ...

captain_smollett captain_smollett PRO GBPUSD, D, Short , a month ago
GBPUSD: GBPUSD. Bearish Cypher completed. Short-term trade
86 1 9
GBPUSD, D Short
GBPUSD. Bearish Cypher completed. Short-term trade

GBPUSD pair has completed a bearish Cypher pattern. It has completed yesterday and went a little bit longer today but I believe it is perfectly valid for shorts. This is a short-term trade so I believe we may reach targets of 1.24 or 1.2250 by next week. I have already shorted at 1.2610 and will add more once it breaches an important support level of 1.2570. Set ...

captain_smollett captain_smollett PRO DXY, M, a month ago
DXY: DXY vs S&P: they live together and decline together
147 3 8
DXY, M
DXY vs S&P: they live together and decline together

Just a small research I made. Haven´t applied any advanced methodics though, just a simple comparison. 1. DXY and S&P move together on bullish times which means there is a strong demand on US Dollar to make profit from raising american market. The profit is double: growth of the stocks index and a convertion back from the USD to your own currency which, by that ...

captain_smollett captain_smollett PRO EURUSD, D, Short , a month ago
EURUSD: EURUSD. Please welcome The Parity
197 1 12
EURUSD, D Short
EURUSD. Please welcome The Parity

After breaking out of a triangle, EURUSD pair is having the last correction before heading to the long and very expected level of 1:1 . Unfortunately, that is not all for EUR: as a general rule, once the triangle is broken, we should expect a movement similar to the height of a triangle towards the direction of the breakout. In this case, the official breakout ...

captain_smollett captain_smollett PRO SPY, D, Long , a month ago
SPY: SPY. A never-ending Diagonal
173 0 9
SPY, D Long
SPY. A never-ending Diagonal

The choices on how the uptrend will finish are very few to be honest: a common 1-2-3-4-5 structure or the so-called Ending Diagonal Triangle. Experienced EW adepts may surely be able to correct me but I feel like the EDT it starting to become our main option. This means: 1) S&P will first climb to 2360-2370, then to 2450-2500. 2) The correction will bring the ...

captain_smollett captain_smollett PRO UKOIL, D, Short , a month ago
UKOIL: UKOIL. In a range
202 0 11
UKOIL, D Short
UKOIL. In a range

Many of you noticed that Brent has mostly been trading in 45-55 range since May 2016. As a consequence, there is no valid trend for now and, in order to know where oil prices may end up in a week or in a month, we have to operate with Fibonacci extensions and Harmonic patterns. I believe the current setup is as following: First of all, we have a huge ABCD ...

captain_smollett captain_smollett PRO IBEX35, D, Long , a month ago
IBEX35: IBEX35. Spanish market getting ready to pop
83 4 7
IBEX35, D Long
IBEX35. Spanish market getting ready to pop

IBEX35, the spanish stocks index, is ready to pop but first it has to correct to a huge support zone which was a resistance for approximately year and a half. A potential Cypher pattern is pending to be completed highlighting the end of this correction, I will wait for pattern confrmation before I enter a long position. If everything is correct, will place a ...

captain_smollett captain_smollett PRO GBPUSD, W, Long , a month ago
GBPUSD: GBPUSD. Bearish Bat pattern meaning end of a correction
167 1 14
GBPUSD, W Long
GBPUSD. Bearish Bat pattern meaning end of a correction

GBPUSD pair is probably forming a bearish Bat pattern with three legs already completed. I expect a beginning of a new leg up which would mean the last leg of a bullish correction before further decline for the Pound. Will open a long position at the nearest dip, setting a Stop-Loss order at 1.19 and Take-Profit order at 1.3350 P.S. Notice a curious candle on a ...

captain_smollett captain_smollett PRO TWTR, W, Long , a month ago
TWTR: TWTR. Buy Twitter shares but at a right price
207 0 8
TWTR, W Long
TWTR. Buy Twitter shares but at a right price

I stopped following Twitter at some point of time but I´ve been curious on, after all the news bombardement and price movement we had in 2016, what price we may expect in 2017? I found a very interesting setup: on first place, we have an ascending fork (labeled green) where the Median Line hasn´t been reached. Therefore, as per Hagopian´s rule, the price should ...

captain_smollett captain_smollett PRO EURUSD, 240, Short , a month ago
EURUSD: EURUSD. Bearish Butterfly about to complete
433 10 19
EURUSD, 240 Short
EURUSD. Bearish Butterfly about to complete

A short-term trade on EURUSD is about to be triggered: bearish Butterfly pattern should complete around 1.0742 value and give a place to a correction after a good bullish impulse. Notice also a potential bearish divergence on 4H timeframe. Will open a short position at 1.0742, SL: 1.0822 TP1: 1.0588 TP2: 1.0497

captain_smollett captain_smollett PRO AUDUSD, D, Long , 2 months ago
AUDUSD: AUDUSD. Long correction in a correction
128 3 10
AUDUSD, D Long
AUDUSD. Long correction in a correction

AUDUSD reached an important support level which is, at the same time, placed at fork´s Median Line. Pair is now bouncing and I believe it will try to complete an eventual Cypher pattern which ends close to the fork Top Line. I missed a run today so will open a long position now, SL: 0.71, TP: 0.76

captain_smollett captain_smollett PRO USDJPY, W, Short , 2 months ago
USDJPY: USDJPY. Japanese Yen. Trades of 2017. Number 3
287 3 13
USDJPY, W Short
USDJPY. Japanese Yen. Trades of 2017. Number 3

USDJPY pair has already completed an eventual Bat pattern and now moving to an important reversal zone between 120 and 122. I will look for placing mid-term shorts at this zone, targeting 82 in the next 6 months. Will place my SL order above 2015 maximum of 125 and TP1 at 100, with TP2 at 82. Please notice if a price tags 122.795, the pattern is invalidated and ...

captain_smollett captain_smollett PRO GC1!, W, Long , 2 months ago
GC1!: GC1. Gold futures. Trades of 2017. Number 2
318 15 13
GC1!, W Long
GC1. Gold futures. Trades of 2017. Number 2

Gold is currently completing an eventual Cypher pattern. Although, the price has already gone quite low, it can break 1100 levels as the Dollar Index hasn´t yet completed the last move to the upside. Nevertheless, due to a great Risk/Reward levels, small longs on Gold can be added as the target price is really high: I believe we can reach a 141.40% extension of ...

captain_smollett captain_smollett PRO US1!, W, Long , 2 months ago
US1!: US1. T-Bonds. Trades of 2017, number 1
84 0 9
US1!, W Long
US1. T-Bonds. Trades of 2017, number 1

US1 is completing an eventual Cypher pattern and soon will be ready for another leg up. Notice a bullish divergence on a weekly timeframe: such a big timeframe indicates this last leg up will be important and will take some months to develop. But on overall return, in my opinion, it will be one of the best trades of next year. Notice as well that, despite having ...

captain_smollett captain_smollett PRO EURGBP, D, Short , 2 months ago
EURGBP: EURGBP. Potential H&S Pattern
107 0 9
EURGBP, D Short
EURGBP. Potential H&S Pattern

Although, a first target from a giant Cypher pattern pullback has been achieved, I expect further decline on this pair before it runs above the Parity. A potential Head&Shoulders pattern is forming which, if compelted, would bring the pair to 0.76 area. This would complete the leg B correction and start the leg C which should bring the pair above Parity. Will ...

captain_smollett captain_smollett PRO GBPUSD, 240, Long , 2 months ago
GBPUSD: GBPUSD. Looking for a Wave C
121 7 10
GBPUSD, 240 Long
GBPUSD. Looking for a Wave C

Pound Sterling performed much better against the US Dollar than other currencies which form DXY benchmark: while the whole Dollar Index gained 5% since October 2016, GBP gained 7% to the Dollar Index. I believe the correction hasn´t completed yet and expect one more leg up. Will long 1.245, targeting 1.34 to be achieved before the end of the year. This movement ...

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