Make or break? I wish I knew. The last 3 years is almost always break, I think. Fact is that is so easy for sellers here, that if the line breaks there are going for targets lower derived from both triangles. Easy is sometimes suspicious. This weeks down candle volume is 1/4, up to this morning, of the volume of last week's doji. Posted current contract days...
Some charts are broken, others are difficult to understand, some are messy and others are beautiful. This one is beautiful. Respects trend lines, fibs, divergences, or anything else that traders use I guess to place their bets. For me it's just polarity perfection. The way support becomes demand and vice versa. So far price is following the path of a bearish...
Shorted 22.90 due to fib 2.618 and bearish momentum divergence. stocktwits.com Now price is putting a bullish wick, in a middle of nowhere, that needs attention, especially if close above 50 fib of the last uptrend. Bullish reverse divergence created, as suspected, due to the fast move. Former demand zone became supply now above, where I guess most of the short...
Using the current contract chart, just to show that previous week doji candle attracted the biggest volume of the last two months, in this possible triple bottoming area. August and December's 3-4 week rallies, spent twice the time to come back to base, showing a probable selling absorption by the buyers. Divergence can be seen by a mile away. Same formation...
Well known demand zone to those frequent trading the pm complex, goes back to 2009, where it's original base build before the explosion higher. Apart from the big positive divergence, momentum shows a double IH&S, hinting at a possible reaction at the same zone. Also considering silver's dual use as industrial metal as well,even by less percentage of its...
Been following this chart for a while, as a possible healthy/sick performance indicator for stocks. The SPY/TNX ratio is diverging for the last two years now, and If I read correctly this chart, it's not stocks healthy for sure. Of course can be diverging for ages or even centuries in this economic recovery miracle we all live in, until already built in energy...
Price has been contained in the downtrending channel for a couple of years now. Possible double bottom at 1,618 fib, looks like Adam and Eve, but measuring the the distance from left (A) and right edge (C) to middle peak of Feb 2nd bar (B) can be Eve & Eve at the end, which has better success rate. Obviously, a break up from the middle peak will confirm the...
Ratio rejected again at 2,618 fib, printing an ominous weekly candle so far. As M. Armstrong reports, "more than 64billion$ of investing capital left the country during the first quarter of the year. Credit war is on, as Russia cancels bond sales for 7th time in in row, since couldn't find any buyers in the international markets, pressing interest rates to...
Inside day with decreasing volume in this double bottom scenario around 1,277 area, that needs to hold. Momentum is diverging, but price needs a close above Gann 3/1 and 50 fib to prove it wants higher. In such a case, and if 1295 falls, we might see "13" again in front of price, and some bullish pressure will be created. Short covering is not enough to drive...
Miners working on a bullish engulfing week so far and a right shoulder against the metal. If symmetry is any guide, hints that we will have maybe another month spend in this bottoming IH&S formation. Cheers P
The piercing line candle in the Juniors/Large miners got confirmation and the NUGT trade opened. Needs a lot of work, as PM complex is in a downtrend, but the chart present a possible ABCD, a C&H pattern, a falling bullish wedge that is about to break and everybody I know or I read is bearish or short gold and miner stocks. A lot, and I mean a lot of junior...
Juniors/Large producers ratio put a piercing line candle yesterday in the daily (not shown), right at the last weekly support/demand zone. If confirmed, might be a good signal that Gold has a chance to go higher like the last time it happened and fight the outside weekly reversal which is an ominous sign on its own. A close above 1,52 in the ratio will be good...
Inside day with doji (fakey?) at former supply zone. Check intraday PA for possible reversal candles at the top of area or break down of doji candle. if there of course, as Mr. Draghi keeps talking down the Euro today and maybe gap down, that means his son must be already short. So far price is following the path of a possible bullish Bat/Crab. Cheers P
If you see the "Aussie map", linked below, gives a more rounded picture of the local market at the time being. Stocks are currently in confluence area that gives the shorts better probabilities for a possible correction. Momentum divergence can been seen from miles away and a closing below the up trending arc line will have the sound of a bottle opened,...
Big/small caps ratio rejected again at the same supply zone - 1,27 fib not shown - for third time during the last 9 months. Might provide a second short entry around 50% of the pin bar, might not. A second entry, for those missed the pin, will be at the break down of doji. I would love ratio to be the other round, but it's not, and that provides a danger zone for...
Confluence area is a bit higher, but price reached a polarity zone, where through the years changed from support to resistance enough times to mark her as area of interest. Fresh visit to this area has most of the times the probabilities leaning towards to rejection, before maybe higher, gun the shorts - like mine - and go deeper inside the confluence area. In...
Second rejection at the same area, after gun the shorts first - including mine- at 10,500. Another try at 0.764 from 2010 highs to June 2012 lows, upper BB boundary again, and the same diverging momentum, produced a BE weekly candle, just like the one we saw at the end of January. If will continue down or not, its up to the Blood Moon I guess. Strong support at...
H&S in full force now, but price reached its first demand zone. MA 40 also currently 1,7670 maybe provide some support for a possible bounce Remaining short until the second demand zone around 1.70 area, where H&S target lies as well. Cheers P