About meForex, equities and options private trader. Technical analyst mastering the art of harmonic trading. The owner of The Market Zone blog and website.
My blog - www.themarketzone.n
Disclaimer: The trade ideas posted are only my opinions of the
PLX broke below support last week, following its earnings.
If PLX won't close above support this week (which looks like it won't... but still about 60 minutes to the close), it will probably continue lower.
The next potential Buy Zone is near 0.18$
The chart shows that near 0.18$ we have:
- Completion of a bullish Butterfly pattern
- The bottom of a trading...
YELP is facing strong resistance ahead of its earnings.
The Stock's price is below 35-36$, which is a strong weekly Zone that includes the weekly downtrend line and 3 weekly MA lines (including the 200 weeks MA line).
If YELP will remain below the current Resistance Zone (probably will gap lower), it can slide all the way down to...
Scenario 1 - Dovish Fed:
Two harmonic patterns present bearish trading scenarios for those who want to short the USD.
Scenario 2- Hawkish Fed:
The dollar will most likely continue its breakout and climb towards 100.
Gold is trying to break above 1400$
The current Resistance Zone (as I see it) is between 1400-1425$ and it includes a weekly harmonic trading pattern (Butterfly), a weekly structure zone (blue) and the bottom of a broken uptrend line.
If Gold will break higher, it will continue north, probably to test the 61.8 Fib correction level.
As long as it stays below...
XLF has reached to the final target zone of a bullish setup (posted in my Facebook page)
Now, with a double and a resistance zone, we can see some pullback (or even a strong bearish wave).
This can be a warning signal for stocks...
SPX also struggles to close in new records highs territory - Back below 2960 and generates a potential false break and a potential...
Apple's recent rally has placed the stock's price back above support.
From harmonics perspective, there are at least two potential scenarios that can be recognized.
1) Bullish scenario - AAPL will continue its rally to complete a bearish Butterfly pattern (yellow)
2) Bearish scenario - AAPL will fall back below support and continue lower to complete a bullish...
Notice the DAX's chart
During the last two months, not only that it has recovered the majority of its losses, but its price also climbed back up above a weekly trend line.
Basically, this is a potential false break (monthly)
If this trend line will now HOLD as support again... there's a chance that we will see new record highs for the DAX before the end of...
Pay close attention to XLF today (FOMC) - Although it is currently testing support there's an option for a false break signal here.
If XLF won't close in green today after Powell's message, this can be a trigger for another short term wave (and potentially even a strong one) in U.S stock markets.
Despite the recent strength that SPX has been showing, TWTR was left behind.
The stock's price is still below resistance and it's in a consolidation mode.
The scenarios, targets and follow up scenarios are shown in the chart
Oil price is climbing back to test the bottom of a broken channel (resistance) and the 200 weeks MA line.
This is the key focus zone for the coming days/weeks.
Failure to break into the channel will lead to another bearish wave.
A close back inside the channel will trigger a false break scenario and potentially ignite a rally in oil prices.
Despite the optimism in the U.S markets, Europe sends warning signals.
The rally in the U.S stock market didn't translate to a rally in Germany yet... and even it the DAX will enjoy a short term boost of optimism, technically things look bad for Germany
Last week AUDJPY spiked 600 pips (low volume - holidays market)
The Bears tried to trigger a weekly H&S pattern by closing below the neckline - They failed.
It looks like we can see a short term pullback in AUDJPY... but pay close attention to that weekly H&S pattern as the year progresses.