docibby

docibby

Just as a very speculative idea to keep in the back of your mind - classic Wolfe Waves usually work out better on higher time frames, but let`s watch how far this moves.

docibby

Compare with EURUSD and DXY, I think it could correct higher.....

docibby

Price has reached the top supply level, I expect some kind of correction lower.

docibby

Price moved to the initial supply level, which looks like the ultimate " gap fill " of this complex pattern. Cautious short possible, or wait for confirmation ( see level on chart ).

docibby

I repeat my call to watch out here ! As we all know, the tech stocks and Nasdaq100 are holding the market up - once this is finished we should start a correction lower. With Apple I still see only topping activity such as filling the last gaps etc. ( just like in QQQ from the Wednesday gap ). Only a strong buying impulse above 155.00 USD, - accompanied with...

docibby

If you zoom out you can see the decline that VALE went through - I can imagine that further gains here are very well possible, even just as some sort of reverse to mean / fair value.

docibby

We had the Manchester terror attack overnight and Indices seem to continue with their correction mode. This is basically risk-off mode in early Europe trade environment, BUND should gain a bit short-term. Long-term I see downwards traction, but I`ll provide a big picture chart for that later. Other alternatives in risk-off mode : GER30 ( DAX ) short EURUSD...

docibby

We have something like a preliminary break down, but still no macro bearish dollar until further levels broken. See chart. Careful with EURUSD longs now !

docibby

I am watching tech stocks closely, as they had been holding the market up. AAPL = Indicator divergences ( bearish ) and a tentative trend change in Heikin Ashi candlesticks signals a possible correction lower. No serious going short unless we have a daily close below 150.00 USD. Watch the effect on XLK and NAS100 as well.

docibby

Watch BUND as well.....if BUND is aggressively bought, then it is early warning for a more serious drop in DAX / GER30

docibby

Price could find new demand here, big players will seek protection in case of a " sell in May " correction

docibby

Have a look at the weekly chart first, there we have a big sideways action and NO break higher ( whereas we DO have breakouts higher in EURUSD and GBPUSD ). Some analysts are even seeing AUDUSD at 0.6500 and lower ( break down ). However, we have to watch DXY ( Dollar Index ). If there is a SUBSTANTIAL break lower below the 93.00 level, we could see AUDUSD break HIGHER.

docibby

Most basic Fib tool applied - under the speculative assumption that this advance from Feb 2016 was corrective ( in the big picture view ). Careful, this is just an idea we have to keep in the back of our mind, price could just as well have another advance above the yearly high - before a typical Summer correction ( " sell in May " idea ). Main point I want to...

docibby

Look for lower levels if price is not able to stabilise on Daily...here are some medium-term support levels to keep in mind.

docibby

If we do correct lower in to April : watch the break of this ascending trend line first. Especially important as horizontal upper / lower boundaries : Top : 12326.9 Bottom ( below that = back to 10800 ) : 11563.8

docibby

Just highlighting a possible topping pattern nearing completion.

docibby

Price was capped at around the 11900 area, the exaggerated and very fast rise has to be retested. I will be watching this inflection point ( see chart ). A failure to hold in this 11460 -11530 area makes it possible to drop even further ( prior breakout higher area = 10800-10821 )

docibby

We had a massive break below the uprising channel on high volume, but price is currently moving higher. I see this as a possible stop hunt move, kicking out early sellers. Look at DXY ( US Dollar Index ) and USOIL for further clues. A move up to horizontal resistance areas shown on chart might be possible.