dRends35

dRends35 Updated 

APA ready to roll over and crash here in tandem with USOIL. 2 ascending channels here with PA rising out longer term wedge to form a narrow and corrective ascending channel. The channel has already broken to the downside to fall back into the larger ascending channel which will most likely also break to the downside. Could be with impulse and a probable gap...

dRends35 Updated 

Bearish 20/50 cross on the weekly candle just passed. In previous crash / corrections it was all but done by the time this cross passed. But is this crash / correction the same as previous? Well no I dont think it is... But its important to not get too bogged down in bias. I think what started as a potential short covering rally has suddenly and sneakily become...

dRends35 Updated 

SPX back in the ascending channel here. This channel is now very well respected and there are many touches. Price fell out to the downside and there has since been what I think is a fast short covering automatic rally to bring price back into the channel. Ascending channels are bearish and that has been the case already in this downtrend so I expect a collapse...

dRends35 Updated 

Thought I'd share this one with multiple time frame to show my bias. GBPUSD appears to be rejecting from the mid range 1:1 area (grey) and so this provides an intriguing short because if downside continues it may be very impulsive. Previous 30 min candle close printed a bearish momentum candle revealing that the upward trend is breaking down and this should be...

dRends35 Updated 

Just a quickie here. Covering my GOLD short. It was a lot of fun to play the contrarian and land in profit, but GOLD has reached a significant support structure and also it is just below the lows since the 2070 top so this would be a likely area for a shakeout reversal pattern. It could of course go much lower but this was just a simple trade off the shooting...

dRends35 Updated 

Well that gap never filled and so lesson learned - they dont all fill, but I did say previously a gap was not enough to hang a hat on. Anyhow said in the previous thread that an ascending channel correction may lead to another corrective descending channel but this looks very much like an impulse to the downside, not a correction and will most likely break the...

dRends35 Updated 

Monthly candle closed so here is an update. COP having tagged the upper trendline of this long expanding pattern with an upper wicked candle has now slumped back to print a double wicked candle with bearish body through the 1.618 projection taken from the previous 3 pivots which will most likely prove to be a shakeout reversal top to collapse back down. RSI is...

dRends35

Just a quickie not much to say here as I'm already covering SPX a lot. With monthly close it has been an enormous bearish engulfing candle showing momentum increasing to the downside. RSI with bearish divergence from July reveals this top is unlike any since the 2008 crash and I expect RSI to hit the lower band as it did then. MACD also has crossed and there is...

dRends35 Updated 

Entering a short here on UK100. Wave C really leaning over looking very corrective into upthrust top. After which it appears to be in progregessive capitulation structure. Targeting a collapse to at least the 1:1 @ £7128. Not advice.

dRends35 Updated 

Looks like its a good time to buy NFLX with NDX having a strong bounce and NFLX recording its lowest weekly RSI reading ever and printing a first bullish candle on the daily since the second gap down. Stop loss below the low. Good chance that second gap gets a repair and fills I think.

dRends35 Updated 

AMD here breaking trend crossing the 4H20MA bullish RSI divergence and NDX having a bounce so time to stagger in here - stop below the low. Earnings coming up and last earnings a big bounce started a few days before in a similar position to current price. Not advice.

dRends35 Updated 

Bit of a bounce from the lows here for SPXUSD overnight looking very corrective with choppy expanding pattern and weak loopy upthrust. It has currently topped out just shy of the shakeout reversal extremity yet again, collapsing down has printed a gravestone doji at 0.618 and falling below. Looking bearish I think and the momentum change from 200DMA was a real...

dRends35 Updated 

AUDUSD finally appears to be reversing after a long volatile downtrend here. It has broken out from the Wyckoff Supply Trendline and is pushing back above the 1:1 log based Fibonacci extension and so this area below was probably all shakeout reversal. Since breaking out from the trendline it has formed a continuation pattern and so I have my entry at the...

dRends35 Updated 

DXY in this enormous rally appears to be forming a shakeout reversal top here having gone slightly above previous highs but falling back sharply. It has considerably overshot the 2.618 Fibonacci extension and I think that would be a likely area for a retracement before potentially continuing up this potential Cycle wave 5. A sharp retracement here would likely...

dRends35

AUDUSD finally appears to be reversing after a long volatile downtrend here. It has broken out from the Wyckoff Supply Trendline and is pushing back above the 1:1 log based Fibonacci extension and so this area below was probably all shakeout reversal. Since breaking out from the trendline it has formed a continuation pattern and so I have my entry at the...

dRends35 Updated 

Here's another setup - this time i've included RR. Although AUDUSD is breaking to the downside fast there is still a very good chance it will re-test resistance @ 0.71347. And with strong momentum it shouldn't get to far passed support other than to perform a shakeout pattern unless there is bullish momentum coming which would invalidate the call. Due to this...

dRends35 Updated 

Another quickie here - short setup in advance. CADUSD has hit a 1:1 3 wave potential completion here and has rushed passed the low. This I think is a retracement bounce and the dominant trend very much to the downside. I have a limit short order @ resistance - 0.7821 looking for a fairly sharp downside reversal. If it doesn't get there I've lost nothing. Not...

dRends35 Updated 

Simple support and resistance setup here shorting at resistance point in strong downtrend with alarmed stop above top. Now GBP has broken down with impulse out of the parallel channel I think this is now a new and much steeper trend. Not advice.