nmike

nmike Mod

Next upside Clone boundary target is around 55800 and an intermediate upside target of 50600, a short term retrace could see price down to bottom of current Clone boundary or to top of channel

nmike Mod

Hello Folks! ..... we are currently in the 3rd Major Clone & Long term candle action is bullish. Here we have future price targets as well as long term support levels. I predict upside price movement to continue but I'm also keeping a close watch at lower frames charts for any signs of a trend change & price back below current Clone Idea of Cloning is based on...

nmike Mod

I'm using the Fib tool to divide Clones into 1/4s makes it easier to draw intermediate price targets within Clones and automatically we get price points on the chart. Price action over the previous 2 weeks and this week so far suggests further upside but likely we get a short term pull back possibly to top of reference range. If current bullish action continues...

nmike Mod

After a strong run up from hitting S3 trend line support UC went into a consolidation phase, a big red candle broke the range and price is now between S 1 and mid point of Clone (C). Price is currently holding at a minor support, a break below could see price fall to S1 support or bottom of Clone (C), a break above mid point of current Clone could see price hit...

nmike Mod

In the last quarter the Dollar Index broke 2 major trend lines resistances and current quarterly candle (not complete) is well above the reference range box. The next upside target is to the 50% of Clone 1. Break below bottom of Clone 1 could see DXY fall to trend line S1 or S2.

nmike Mod

I've set the RSI at 60/40 instead of the standard 70/30, by doing so we have a better view of weak price up-strength. As you can see since early 2012 the RSI failed to move above the 60 level along with low levels of Trix , see example of EUR/USD chart posted in commentaries. RSI failed to move any higher and instead trend line support was broken and downside...

nmike Mod

Significant L-H- L pivots were used to draw a triangle, clones were placed at right bottom corners in effect creating an up channel. A horizontal reference range was also added and cloned. R clone 2 boundary targets were achieved, price found support at bottom of R clone 2 and rose back inside triangle(channel).The week finished with a test of bottom of triangle...

nmike Mod

I've published charts on Apple in the past using channel cloning with excellent results, however due to the stock split those published charts can no longer be reviewed. Price is currently just above the all time high and just below the reference channel (confluence area). The RSI shows no divergence so it’s likely that AAPL breaks the channel to the upside, if...

nmike Mod

The long term quarterly chart continues to show positive candle stick price action.Since we don't have a previous high as reference for next target, I'm using a range box cloning technique for next target(s). Next target is about the 2055 area, I've also placed other arrows as possible moves going forward.Looking at the 2 back clones you'll see that many pivots...

nmike Mod

Bearish candle stick action below the 34ma and bearish indicators point to further downside for EURJPY. I placed on the chart the next 3 downside levels including the bottom of the band. Confirmation of further downside is the Trix14 and or Fisher 34 falling below mid point. For sample set ups on this system see link below.

nmike Mod

Gold long term outlook continues to be bearish. The long term Heiken Ashi 3 month chart still shows no green candle and below the 7ma. The next bull phase and or a short term move up will most likely begin when the RSI moves back above 30 followed by a close above the 7ma. As you can see the long term bull phase began when the RSI broke above 30 in 2001. Currently...

nmike Mod

The 3 month cycle finished with a doji candle outside the BB(34) and at overbought conditions, signaling that the buying pressure was starting to diminish. The next complete 3 month cycle could finish as a bearish evening doji star pattern similar to the one at 55.07 pivot. If that happens it could mean a deeper correction and or a major top for QQQ. Currently...

nmike Mod

This correction in the QQQ should come as no surprise. The RSI on the 1 & 2 month frames was well in the overbought area and the weekly RSI had been forming a negative divergence. On the 2 month frame price most likely corrects down to the top of channel 1 support. On the weekly frame price is currently at a support level, if falls below the next near term support...

nmike Mod

BTCUSD is overall bearish. Price is close to a support area S1 and stochastic is oversold so we could see a short term bounce up to the top of price channel, if breaks channel price could reach R1 near term. Failure to hold S1 could see price fall to the S2 area or bottom of channel.

nmike Mod

I've drawn a reference triangle connecting a H- L- H swing points. I'm using the apex of clones as future price targets. Currently we can see that TSLA has come very close to hitting a triangle apex target at 261.9ish,note that weekly candle has not finished painting. At this point my best guess is that TSLA will pull back to around the 239 level before hitting...

nmike Mod

FB is currently in a strong uptrend and finished the week with a bullish candle above a trend line resistance.We have negative divergence but is not supported by reversal candle patterns and Trix is rising.It is often the case that if the CCI(50) and Fisher(34) are above mid point any dips in the Trix 5 (Trix 3 for monthly) is a long entry opportunity, vice versa...

nmike Mod

Using the W%R(500) to gauge the level of fear,we can see that levels below -75 SPY is in a bullish trend and levels above -75 there's either a VIX warning or SPY in a bear trend. Here I drew basic trend lines as triggers for long and short signals.Currently the VIX is rising and just below minor resistance R1. SPY is still in a well defined up trend but...

nmike Mod

Spy is currently holding just above the 181.75 pivot and the short term Trix(5) is holding above mid point. Two near term possibilities: if we break the 181.75 pivot we could see SPY fall to the .382 Fib level or to the bottom of BB(34) or we bounce up from here to test previous high. FISHER / TRIX 34ma system and sample charts