Just happened to check this out from doing a randomly selected overlay on a different chart. (Checked out: It is quite well web documented.) Impressive. Tight. At unprecedented levels of near perfection. I was contemplating the idea that in order for what I think is going to happen in the forex majors/indices/metals markets, one of the potential mechanisms could...
To me the probability of, here the IUXX, IMO applies to all US, (& by implication perhaps global indices(?) (Asian more buoyant tho') making a top and downturn is really quite high ( very US dollar focused ). Using the structures drawn here around the IUXX, the Russell 2000, top of the game, the DJIA, though it and the SPX have already potentially dropped off...
I sometimes trade the Russel 2000 but chose the Nasdaq 100 at random to cross check long term interpretation. Its the same. I'm guessing any of the US indices show similar. Triangles all over. Gold lines: long term trend. Purple: shorter 'QE' channel. Various minor influences as noted, then red: long term down fork to which there is considerable adherence in...
Although I've put this chart out before I've added some detail I hadn't really noticed, the diamonds, and the trendline it is currently hovering just above. The interpretation of the third final diamond has me scratching my head a bit as where it should have gone up making a third wave inside the structure it didn't, so there's a bit missing, where did it fall/has...
3 cycles in (haven't drawn the first three in but see the three arcs/sections) - so 3 out? 33% correction. Hmm. (Or 4, to the seventh, largest wave thing) I've drawn the big circle that big: add in gold futures, silver & silver futures. All over it's all quite nice corresponding measures. The Gold Shoulder: If it hasn't done so already ... There is obviously some...
Just what I'm watching. No outcome/prediction intended but hope it's helpful. Don't quite know how to draw these Gartley/ABCDs etc but there is a Fib-ness in the measures. Gold to hold? (for now) Then slowly swing round to upside (I think(?)
Started by looking for the second shoulder of a potential H&S (hence the title ;). Upside down can be good, as to just what looks right, and from there ... Well, I'm a bit hesitant but I hope this can be taken as a thoughtful sketch of observation, influences & possibility/probability. To my mind, pulled down by necessity of technical return, it unwittingly spring...
Three channels (maybe four) : the most steeply inclined & the green channel: longest term the red channel, I call the central banking line, QE etc. An unnatural branch. An edifice of artificial creation. (For the parallels of the steep downward as extras to the 0.382 & 0.618 I used a series from PPMCCs (two tailed probability tables) it worked quite well using...
(Apparently) In everyone's seeming enthusiasm for it breaking out to the upside of 'the triangle' ... it's going up, up and away. Reality check ... What did it hit that was strong enough to knock it down so? And if it so going up, why isn't it? Reality dollar check maybe? (the rest of the lines : just me playing about, drawing) Good weekend all.
...of the downtrend fork, seems to be working. (PS although which channel it is in, depends which way you look at it, hmm). Reasonably confident that is lower edge of range, now achieved. (I keep seeing more bullish undertones, also hmm) Return to ML currently @ around 1.325 Waiting for confirmation of working fork for USDJPY, probably overnight for the setup. Not...
Doing my home work properly! This is a pennant (large) : continuation pattern: close to break out the top, which pushes the Euro up and the Yen down. A question: in the USDJPY 240 chart there is potentially a second flag arrangement going on, also a continuation pattern, in this case down, (having perhaps, maybe moved from one to another) if this turns out to be...
Does this (slightly hidden) formation shaping up, 3/4 of the way there, signal the end of the 8 month long rising wedge? And a potential break to the downside? (That would for me, tie in nicely with my hunch on the USDJPY)
I hope not without visible rationale, there are variations on this arguably equally suitable, but my criteria were: it should encompass as best possible all of the last ten or more years or so, and best fit to the price movements in terms of a channel & fib ratios, most specially it should return to the median most often. There is no suggestion on my part that it...
Classic example & quite well poised to trade, looking to be near completion. Gradual loss of upward momentum eventually turns into an increasing break to the downside. If Euro Data (a lot) due out later today, the main GDP 9.00 am UTC disappoints this could be the catalyst to an excellent short trade. If that's not it, i.e fairly neutral we have a little...
Just to pull back out from my H&S chart just now, those vertical lines ... The two lows at 0.00 and 1.00 then the 3rd potential as indicated If this is now a high then they are in reverse order h3 0.00, h2 1.00, h1 1.168 : potentially it has completed a series of 3 highs. On the basis of these two charts I'm in short (which wasn't looking too hot while ago -...
Don't know if anyone has spotted this ... H&Ss can be tilted, this one is upside down. The head is smaller. The neckline being the upward channel lines. I assume same rules apply? (PS. Sorry if my lines seem too many sometimes, but to me this is a technical thing, not too much time for the full artistic presentation ;) that only happens at weekends.)