goodguy

goodguy

As you know many of the commodities and currencies are influenced by the value of the US dollar. The chart shows that the up trend line from last year has been broken but there has been no close below the strong support at about 93.15 And the momentum indicators are oversold. So will the dollar bounce up from here to go to a new high (likely sending gold,...

goodguy

Weekly Linear Chart.. Notice that at the start of 2015 the weekly RSI was the most oversold that it has been in years yet price did not go below AA (a positive reversal). Currently we a bullish divergence in the RSI. Often (but not always) when you get this combination price will rise. Notice that the length of CC is almost exactly .62 X the length of AA. This...

goodguy

My 108 to 110 target was hit yesterday and I covered. If you short again could use current high from this AM as a stop. From my perspective on the EWT count, my count will be wrong if price goes > than 119.23 Good luck

goodguy

If you check the link below you will the current view for what may happen with crude oil. But we are at a critical junction to see if that view is correct. We did get a good bounce at 5. But we have also had almost a 100% correction down from a. Now we will if there is a "c" wave up to follow or just further dropping of oil prices. I don't know which will happen....

goodguy

A,B,C correction with B wave an expanding triangle. Stop would be > previous high 25.62.

goodguy

One last chance for this basic count to be right. Things in its favor: now the gap is below the current price. We have a new negative reversal in the 120 minute RSI like I suggested would happen. I was too impatient. We'll see what happens today. If stop holds and price rise reverses here then my short term target is 108-110. Good luck at there.

goodguy

See ;previous post.

goodguy

Folks, most of my charting life I was interesting in EWT. I realized after many loses it is not accurate alone to provide enough information to trade successively. As a result I know most folks see it as pure nonsense, voodoo, etc. But personally I believe many of its tenants are true. But as I have indicated here before I would not trade on EWT alone. If you are...

goodguy

I am trying to see how to publish two time frames at the same time. Trading View Community is very helpful. Hope this works. Take care. Have a great weekend.

goodguy

I would not trade on EWT counts alone. Would wait to see if price action and patterns supports this count. Take care.

goodguy

About a month ago I posted that perhaps AAPL had topped out. It was 127 at the time. It has now broken the long term weekly uptrend line from 2003 (see previous post). It is now at the more current channel uptrend line so it will be interesting to see what happens from here. A positive reversal has developed in the RSI so if my count is wrong then this would be...

goodguy

My previous view was that "b' was a contracting triangle was stopped out quickly after my last posting on crude oil for a small loss. Here is my current view that likely the b wave correction will likely be a up to .84 reversal of "a". So I am waiting for the down the current down trend line to be broken to go long again with the stop just below the near...

goodguy

A while back I posted a long term chart of XLF with a target zone that price has finally hit. It doesn't mean it will reverse now but it would not surprise me if it does. So far the action today looks like it has hit a new high at the open then has declining since. If this continues to the close we will have a nice bearish engulfment. If so it would seem to me...

goodguy

The triangle consolidation idea I had earlier still holds but has taken longer than I expected. I'm long with stop at <56.49. Have a great holiday.

goodguy

The us dollar is down some since my last posting 5 days ago. But the price action has me considering a different point of view. The price action since February may not be the beginning of a new downtrend but a sideways consolidation (such as a triangle). Both the 4 hour and daily charts have developed a potential positive reversal in the RSI. Even if this is...

goodguy

I don't trade Apple but I try to EWT "analyse" now and then because I trade QQQ. But it looks to me like it is about to fall. To venture this idea is kind of insane as virtually everyone who has ventured this ides for years has been wrong. My more close up view I will add as a reply as I have not figured out how to put up both together. Hope somehow this is...

goodguy

At the time of my last post I did not have a good "feel" of the direction of DXY. Now I am favoring more down action ahead. At c the price did hit the target box I had set intra-day x2 (at (b) then immediately reversed. It looks like it is setting up a asymmetric head and shoulders pattern the the "H" a M type top. If level (a) is taken out I think there will...

goodguy

This is a follow up to Mondays post on the SPY. I changed the style to a line of the weekly close. You can see that with Fridays down day the SPY did close below the rising trend line. Of course just because a trend line is broken it does not mean necessarily the trend will reverse. It could continue to go up at a different rate or go side ways. On the longer...