nahidik

nahidik Updated 

Here is what I see: Confluence of Fibonacci extensions: green fib 1st impulse 1.618 extension red fib 2nd impulse 1.618 extension yellow fib last impulse blue fib retracement of the HTF move down purple fib where it may go. We need to finish the up move to properly place this fib. Other factors: two trend lines because a wicked wick which I chose to disregard...

nahidik Updated 

Technically speaking I see this as a short setup. Impulse down correction up another impulse down. Right? Why is there something in the back of my head saying not so fast. If you have a singular myopic view of patterns that is what you see. Not saying it won't go down but I am saying look at the past it may help predict the future. In a nutshell I would look to...

nahidik Updated 

I am not convinced the USD has retraced all that it is going to. I could be wrong. Overall I am bullish on the USD I feel there could be another pulse down before a larger move up. Look for breaks and corrections. Buy or sell out of the corrections they may be small but you need confirmation of direction.

nahidik Updated 

I believe we are near the end of the downward move. Perhaps another small move down to the trend line. If we have already bottomed look for a break of the smaller green trend line up and a correction and a move up. This will confirm we are in an uptrend again. Watch the DXY a strong move up will have consequences on this commodity pair. This is only a suggestion...

nahidik Updated 

If you are looking for the big short that 10:1 return this won't work. Sure it is a great feeling picking those and there is a time and place for everything. In this case I looked for fib patterns. When there was a big run up followed by a 35-40% correction price climbed back close to the top we saw an strong move down with one or two candles. If you drew a trend...

nahidik Updated 

USOil is in a tight wedge and is giving indications of an imminent correction. A strong break of the 4 hr TL (Blue) and a bearish flag will indicate a shorting opportunity. I would wait for a similar indication below the first Daily trend line (Green). A safer trade for a longer ride down. A break of the second trend line and we could see a revisit to $30. That is...

nahidik Updated 

On the HTF I am still bullish looking for a good run up. However it is looking more and more like we may be in for a correction. I am looking for push down to the larger purple trend line. This could be a make or break area. A strong move up will indicate at least a challenge of the previous high. A strong break of this TL with a shallow correction will indicate a...

nahidik Updated 

Exciting times

nahidik Updated 

Two very similar impulses here with slight variations probably because no real baseline for the first impulse. Both had short 1st waves small 2nd wave retracements an long 3rd waves. Classic 1-2-3-4-5 patterns most likely but I don't want to get into the intricacies of counting all the sub-waves. Also each had a small LTF correction above the 1st correction. So...

nahidik Updated 

I am looking for a break with a small correction to take a further long position. We may have finished a 3 wave a-b-c or there may be another leg down for a d-e. I am leaning towards the d-e pattern. Regardless I need a break above to get involved.

nahidik Updated 

Be careful of anything British these days. The winds of change may rock the GBP at any time. Of course this could play into your hands but you need to be vigilant of the news with your finger on the button. Or you can trade it on the HTF where the impact will be less noticeable. To business this steep impulse up has given us retracements between 35% and 57% We are...

nahidik Updated 

Silver has broken its 4 hr trend line and will either pull back for a flag and continue on its journey. However if it comes back hard and steep I will expect further downside as a larger degree correction. Over all I am bullish but need some clarification before adding to my long.

nahidik Updated 

Silver is worrying its way down and may eventually get down to the daily trend line ($15.60 area). Short term it may break for another down. We are getting to a confluence of indicators where I believe we will see either a large correction for the second X wave or the first wave in a new up move. That being said watch for indications that the bear moves are over.

nahidik Updated 

Most consensus was for this pair to break down out of the structure. I was thinking that way until I noticed an open window. We don't see too many of these on 4x. I predicted price will want to close this and it almost has. Once closed I will reassess the pattern and look for a trade.

nahidik Updated 

The DXY has been on a very steep impulse with shallow retracements. Normally I would expect a deeper pullback but the DXY can move very far and fast without checking the rear view mirror when it wants to. A break strong move and close above the 1 hr. trend line (purple) may pave the way for a straight shot to the green daily trend line. If it does we will have to...

nahidik Updated 

Look for a strong break below the trend line

nahidik

I am still bullish on the DXY long term A break above the purple 1 hour trend line will indicate another push to the upside. A break below the blue 4 hour trend line will indicate a HTF correction. Watch out for a break down and then bounce off the disrespected 4 hr trend line (blue dotted) Let the price action do the talking.

nahidik Updated 

Sorry for the delay. I published this privately last week by accident. The DXY0.14% is at an important crossroads. Let the price action do the talking. It appears there may be a regular flat in the making. If so price should reverse near (+/-) 5% of the swing low. My experience says if price reverses it has about a 70% chance of testing the swing high. So I will...