Rejection at upper MLH initiated short against inverted cup and handle structure. Price is at center ML. Rejection here and price goes to lower MLH. Failure there and this could go for a double gap fill completing the cup and handle.
This day has been coming for some time. The dollar is at the confluence of a multi year pivot high trend line, double top and the center median line of pitchfork a. Time to see where the dollar is headed.
In this chart, I have drawn pitchforks A and B . Also I have added warning line extensions to upper and lower MLH of fork A. These WL are clones of the distance between fork A's CL and Upper MLH. Price is currently congesting just below fork B's CL after bouncing near the lower WL. The question next is where does it go from here? My thoughts are we have some more...
I am doing this chart as a study of pitchforks rather than an actual trade. I have drawn two forks. Also drawn is a clone of fork A's lower MLH to center ML and a line connecting two recent major lower pivots. Price appears to be headed to a confluence of fork B's center ML , cloned lower MLH and trend line. This is the next area of potential support/ buyers.
Drawn are three forks. One major and two minor . I have cloned from the center line of minor fork b to the upper MLH and added three of these clones as extensions. Price is currently rising off a bounce of the lower MLH of major fork A. Last week price was rejected off the the center ML of minor fork c. Failure here means there could likely be a retest of the...
In this chart, we have an up fork and a down fork. Once price broke from the up fork lower MLH, I cloned the last quadrant. There are five of these cloned extensions on the chart. Price is currently headed to the lower MLH of the down fork. This area happens to be in confluence with the last two major low pivots (yellow line) and one of the clones. This is a good...
With this chart, I am exploring the possibility of a new pivot high. Price was rejected on friday after crossing a clone(WL) of the Upper Median Line (UMLH) of pitchfork B. If price fails to close above high, we may expect a new pivot low to confirm the pivot high. Should price close higher than WL then we add another clone and the search continues.
Looking at pivots a and b it is clear price is losing energy . Not only has price not traveled as high in a relatively same time span but it has also lost upward momentum. We can see price was rejected on it's first attempt to cross the previous highs (yellow line) . This crossing also happened to coincide with pitchfork Pa's lower middle median line. It took a...
PEIX , along with the rest of the ethanol sector, has taken a big hit recently with the drop in ethanol spot price. With corn and ethanol dropping at the same time, the future looks a bit unpredictable. So, lets have a look at the chart. Price has broken through the bottom of the pitchfork drawn. I have added a clone of the last quadrant to help look for...
Much news lately about the dollar going higher and it's impact on global markets. So, next weeks fed meeting will be one to watch. The dollar has been making lower and lower highs, then testing these lower highs. We are at one of these test points now . A breakout here could really shake up the markets. While a failed breakout, may be seen as more of the same....
I was watching NBR on PBS last night and was once again reminded that the news is a lagging indicator. They are simply doing what the news does best, as they reported on things that had already happened. Things like the recent drop in Crude. Let's see if TA can help us see what may happen going forward. I see an ascending triangle taking shape. Price has been...
I am using Chris Moody's Williams Vix to help isolate an entry here. Thank you Chris for this indicator! URRE is currently experiencing an increase in volatility. The only question left unanswered is which way will it go. Looking at the candle action of the past few days , they are suggesting a bullish move is near. Price is wedged here between a double top and...
With the double bottom confirmed, I would like to explore the possibility of a 2618 trade. Price is approaching the projected target of 13.00. Here, I expect a pullback in price to begin. Should that happen, we may then look for a long entry near the .618 Fib Ret. level. The idea behind a 2618 trade , as I understand it, is to reduce one's risk when entering a...
Recently came across this chart and sharing. URRE has a history of strong moves after crossing the 20EMA on the monthly. The next crossing could potentially go nuclear as it coincides with the trend line drawn. The Fisher too is moving in a more bullish direction.
NRP has a lot to offer investors. The company leases properties to coal miners and with recent decline in the coal mining industry NRP has declined with them. The most recent decline can be traced to a fall in dividends. Dividends is one of the attractive aspects of this trade. The current dividend is .35 quarterly with an annual return over 8% at the current...
Looking back at almost 100 years of data on the DOW, we are still on a coarse whose foundation was set in the early 1930s.
As the chart demonstrates, BERY often has a nice divergence before turning bullish. I will be watching candles here to see if we are presented with another bullish opportunity.
Recently watched Jason Stapleton's seminar on his 2618 Strategy. Really enjoyed the Free lesson and encourage others to go see for yourself. Jason is straight forward and up front about the limits of his 2618 system. I applied his double top rules to a trade I am currently long in to see how it performs. Peix is in a strong uptrend, as the chart illustrates. So,...