Not much else to say in today's paranormal momo hunting. Cheers, P
Price kept coming down inside this down trending channel for the last two years. 1,618 area gave two long entries, first being the most successful so far and second being the most safe and low risk due to double bottom and bullish divergence at the end of March. Major obstacle now, after broke the upper channel line, is the last known overhead supply, that is...
Bullish outside week candle stopped right at the first fib confluence and the down trending line from July 2013 highs. Current path is bullish of course, after the doji of Dec 30 which gave a good entry, backed by bullish divergence. Momentum looks overextended creating a hidden bearish divergence this time. Interesting week coming. Cheers, P
Consolidating the last three years inside this massive triangle, now building possible IH&S. This demand zone supported very well through good volume, every time price reached the area. Cheers Panos
Ratio between SPY and FXI approaching first demand zone, after the rejection at 1,618 fib, backed by negative momentum divergence. Value area between MA10/MA30 maybe help a possible bounce to 5,44 in the ratio. Pays to be short SPY and long FXI. Cheers Panos
CCJ retesting triangle break out. Positive divergence exists here as well as in most of the uranium stocks and can be seen by a mile. Sector is so depressed the last few years that sentiment is touching the floors. Good R/R for long term positions. Cheers, Panos
Former momo darling reacted exactly at support/demand zone that started the break out on huge volume. Now breaking the down trending channel, backed by reverse bullish divergence. Good R/R, remains to be seen how high can go again Cheers, Panos
Looks like attempting to break NL of possible IH&S. Big hurdles remaining above the down trending lines of the two triangles. If manages to close above, it would be positive for further upside movement. Cheers Panos
Well, that was quick. A cool 25% down from 2.618 in two sessions. Left only one trance trailing in case it goes to 6$ or lower. Cheers Panos
Coming after outside reversal, this months candle has to fight with 1,618 fib from important 2009 lows, right at the infamous trend line which connects the 2000 and 2007 highs. If daily or intraday print a rejection/reversal confirmed candle, it will be a good spot for a short. Cheers, Panos
I wish I knew. The good thing is we got a weekly bullish outside reversal on demand zone and good volume. Hidden bullish divergence in momentum and a good R/R entry is sometimes enough. Cheers, Panos
Time to prove C&H pattern. At demand zone, oversold after a great run, backed by hidden bullish divergence. Log chart. Cheers, Panos p.s. chart dedicated to one of our generous MOD's who is sharing the same name! It's optionable.
The biggest trade of the last quarter in commodities looks like pausing for now and correcting. The bearish pin of April 21st proved a good signal for the sellers, as managed to close again below 61.8 fib from 2001 lows to 2011 highs. If we get a bounce from last closing of 180.80 to196-205 again, pending to intraday and daily PA, it's an area that I'll re...
After a monstrous 160% increase in the last quarter, price reached 2,618 fib. No need to chase here, even after the run was backed by super volume. Last week's bearish wick almost erased, but the volume was 1/3 less. Nice base areas little above 7 and little lower than 6$ in the daily chart, may provide an entry if intraday or day PA show buying pressure. Long...
Fib time says this and next week might of importance as time reaches 1,618 extension, if we connect the lowest closings of the last 12 months. Attempting to break the falling wedge. If manages to closes above implications for VIX and indexes might be important to be aware of. Cheers, Panos
If its destiny is to follow the bearish Gartley path, somewhere around here should show topping signs. Trend is bullish of course and the symmetrical triangle( red dashed lines) break out targets 1.4050-70 at least. Kumo is green but shows future prices at a lower level than the are we are now. Close above or below 1,3933 might be critical for bulls /...
Used this chart to start short positions three times so far at 1,618 fib area, backed by bearish divergence. Bullish wick at 50 fib area is be aware of and evaluate positions and risk. Reverse bullish divergence might help a higher beta performance this coming week. Cheers and the best of luck Panos
Global 100 index shares of largest companies at 2,618 off of 2012 lows and 3.14 pi time this coming week, if we connect the two lower closings of 2011. At the top of the 3 year up trending channel again, where price has been rejected 5 times so far. Cheers, Panos