My friend recently mentioned that China A50 is a strong buy and that prompted me to look into the chart. Indeed, China A50 is really a strong buy - and we are now still at the beginning stage of a new wave up. Note that China breakout is also confirmed by major equities markets breakout like S&P and Nikkei.
It seems that wheat has been oversold on the lower timeframes (i.e. below 1hour). I believe that the risk-reward is now favourable on the long side. Note that the current price is also an important price zone as I have highlighted in circles.
If you believe in Fibonacci time counting, XRP and BTC offers some insights to what could happen. Here is what I expect. Below is the Weekly Chart explaining the weekly time count:
I have been in discussion with my fellow trader colleagues and we are of the opinion that SI has been oversold and Equities overbought. This is actually backed by COT report so there can be no dispute. Further more, it seems like the Gold/Silver spread has already reached the high and is overdue for a big fall. If I am not wrong, we will see a strong rebound of...
The very first thing that I want to point out is, this is a weekly chart. That means, it may not be trade-able. But you can always use it for portfolio management and adjustment. Note that the 10 years is the most important instrument in the world as it is the risk-free rate used by many major funds. Thus it has major implications to other asset classes including...
If you have seen my previous idea on HG, you would have realised profits twice. HG stopped very near to the take profit targets. And now that the triangle has completed, it is time to go long.
In my very first idea on Bitcoin, I mentioned that should hit a target of $6219. The low wasn't far from the target. When Bitcoin was near $7000, I mentioned that it has reached a turning point. Over the weekend, I had wanted to call a long because of price consolidation as it was making it's way down. However, I was waiting for an impulse up-move before making...
I chanced upon AROC upon my scan of stock charts (which I rarely do) and this seems to be an opportunity. The movements for the last few days looks strong (with high volume). Even though I was thinking if there could be a final wave down (there is a possibility of a final wave down to the support), I feel that the strength of the last few days strongly suggested...
VALE seems to have started it's 5th of 5th wave. As can be seen from the various arrows drawn on the chart, VALE seems to respect the support and resistance horizontal lines.
The recent false breakout of gold and strong reversal down brings me back to my long-term wave counts that the entire range is a corrective triangle and that Gold's trend is now decidedly down and will be so for a long time. Outside of technical analysis, the recent news that long-term yields are rising also support my overall analysis that USD will rise against...
Silver has recently performed a false breakout (same as gold) and reversed strongly. That indicates that the trend has strong reversed and the entire triangle is, in fact, a corrective wave. I am now fully expecting silver to trend down in the long-term. Outside of technical analysis, the recent news that long-term yields are rising also support my overall...
I was wrong in my previous call for short CL. It seems to be so much stronger than I had expected. Anyway, on the weekly timeframe, CL is actually in an area where it could move freely up with at least $5 of free movement (that is 100 futures ticks). However, it is better to monitor the lower timeframe for any development that could hint an earlier reversal. I...
Context Copper seems to be respecting trendlines and trend channels on a daily timeframe. From there, I figured out what is the most probable wave counts, taking into considerations potential chart patterns. Given that we have definitely completed a 5-waves up (blue wave counts on daily timeframe to $3.3220) and the subsequent range motion has been erratic at...
I haven't touched natural gas in a long time, partly because I think that it is too volatile and partly because I am not sure if it is affected by Elliott Waves at all. In fact, from what I know, professional natural gas traders trade the seasonality spreads of NG. Trying to assess the waves was difficult from a low timeframe and I had to start from looking at...
I am not a fan of chasing the trends. It usually means that I haven't been paying attention. But then I believe that with good risk management, some trend chasings can see be profitable and quantitatively sound. And thus here is my trade idea on S&P. Outside of technical analysis, the recent news that long-term yields are rising also support my overall analysis...
I haven't updated CL analysis for some time since the last that I was wrong. These few days I have been monitoring the 5 waves up and the bearish engulfing candle seems to have given the necessary confirmation that the trend might have changed. Outside of technical analysis, the recent news that long-term yields are rising also support my overall analysis that...
I believe that ES is now forming what an ending diagonal within an ending diagonal as the last wave of a corrective waveform. I suggest putting the stop a bit higher than the trendline would suggest in case price experiences a throw-over. Note that we are also approaching the resistance zone where price had previously failed to breach.
I believe that USDJPY is reaching a price zone that is favoring shorting. I have identified a price where previously USDJPY has failed to breach. However, take note that the current price of USDJPY has already fulfilled the criteria of a new high relative to it's previous peak. Maybe some averaging techniques can be used here if you are interested to enter....