FNMA Big Picture Triange Breakout on Monthly Chart
Long term MA's are about to cross as well in the next few months so hoping it retraces back down for a retest over the next few months and then climb further if their balance sheet starts to improve through retained earnings
The issue is going to be when it is listed what the impact of any dilution will be to...
Been a long term investor in FNMA (over a decade) and this is a long term investment in my portfolio, currently on the daily it has hit a supply level and formed a bearish pin bar with RSI divergence, so looks likely a short - medium term retracement is here
Typically strong divergence this means the price will retrace back to at least the 20ema if not the 50ema...
Possible 5th wave PRZ zones, using fibonacci extension clusters
There are no noticable supply level on lower timeframes around these level to trade off so I will be looking at price action and indicators to see if there is a low risk opportunity to short at either 2931 or 2939
Wait and see...
Small trade on daily chart - Looking for 1:1 then trail stop on remainder for 2:1 target
There is some support on this not far away and T2 would be the 50 ema on the weekly which would be a good place to get out of shorts as longer term investors step in to buy
Possible Wave 4 completion around 2890
- Elliot wave law of alternation = Wave 2 was deep, Wave 4 is shallow (estimate 38.2%)
- ABCD pattern
- Alternate AB=CD pattern Wave 2 = Wave 4 (black arrows)
- Fibonacci cluster at 38% retracement, 127% ABCD + 161% BC extension
- RSI at 33 now, near oversold - likely oversold when hitting the level
I will be...
Already short, if it works I'm looking to take profits off table quickly and trail stops to BE if first target is hit
I actually think we will go beyond this level, but could not resist shorting at a very strong supply level,
Am crossing fingers it retraces 61% of the recent climb which would be a nice R:R trade and give me an opportunity to go long into a long...
Forming monthly tweezer top after a slightly parabolic move in recent years
Is happening at the 361.8% AB=CD move, using the law of alternation if a correction does occur from here it is likely to be a shallow 23.2% or 38.2% retracement given the deep retracement in the GFC
There are multiple reason to short this using a number of different technical tools
Thought it was interesting that there is a Nen star pattern completing at least weeks highs offering a decent R:R ratio even if you are trading the short to medium term outlook
DJIA weekly not as strong as Nasdaq or s&p and I would not be surprised to see a throw over in this first to take out the stops before a decline
Mainly because the divergence is a type 2 (rising prices but flat indicator) whereas the other markets are clearly type 1 bearish divergence (rising prices but falling indicator highs)
this one is interesting as if it...
SPX weekly looking bearish
There is a gap on the monthly and I;m hoping it stays relatively close to where it is now till the end of the month
This would then be looking very ominous from a monthly perspective as well
Planning to scale out at the first target and build back into a short again, but we will see how it develops
Currently very stretched to the downside running into a nice demand level
This level is not fresh but given the reaction at this level, I'm willing to have a go at going long with ambitious targets which should see the gap closed - and then some....
Just looking to short as currently there is divergence on indicators and we are retesting an old supply level,
This has already been tested but immediately rejected, but am aiming for this to get back to the 50 ema for a nice R:R short trade