Yesterday's turn, following the attempt to break the 2060$ in SPX has created a long tail Pinbar in $XLF. Considering that we experience a pretty volatile summer market, I'm very cautious with price action patterns and I don't jump to conclusions when ever I see a strong price movement ..and it doesn't matter the direction of the move. That is why I took a...
Can't complain about that 30 minutes bearish Cypher I traded on DAX (maybe that I got out too early!), but no we have a bullish Gartley right inside the important 11000 support zone. The potential target is the top of the trading channel and the required stop loss should be below X point (although a stop below 10,850 may be enough if that support zone will hold
The current run in $EURUSD started from a bullish Gartley (yellow) near 1.085. The important breakout happened only this week when the $EURUSD finally broke out of its down trend line and the strong resistance it had near 1.1 (the zone I constantly mentioned in my newsletters and posts). By the strength of the breakout, you can see how crucial it was and how...
$GOOG big announcement on re-organization caused a huge gap in the stock, right where its previous top was, near 680$. That gap created two bearish patterns: 1. Daily double top. 2. Hourly bearish Bat pattern. Regarding pattern 1, we still have to see how the day ends. A pinbar will be great for the potential bearish daily reversal. For the second pattern -...
$DAX falling apart following a 30 minutes Cypher completion
Since its 2012- 2013 uptrend line was broken $BAC has been trading inside what looks like a weekly Triangle pattern (see black dashed line and the 17.5-18$ structure zone shown in the chart) During July, $BAC has completed a weekly bearish Bat pattern (PRZ between 17.8$ and 18.3$ that managed to stop, for a while, the stock's rally. The pattern's targets are...
$SPX already completed Cypher pattern and now we have one in $DAX.
Following 2 successful Bat patterns, will the Cypher pattern work as well? 2085$ and 2080$ short term bearish targets
The bullish Bat mentioned last week reached secondary target level. Now 2100$ is the next bullish target and possible reversal zone
With the drop in oil prices, $JETS, the new ETF that holds airline companies like Delta ($DAL), American Airlines ($AAL) and southwest airlines company ($LUV) had a very nice rally during the month of July. The $ETF rallied all the way up to the 88.6 Fib level to complete a bearish Bat pattern and declined from there. The pattern's targets are 23.5$ and 23$...
Last time I mentioned Crude was when it bounced from the Monthly pattern I've posted here about more than half a year ago. Now Crude is about to reach 40$ again and maybe create a monthly double bottom inside the pattern's PRZ. The longer term target levels are shown in the chart. If 40$ won't hold as support, the price could try and re-test the X point level...
$GBPUSD used Friday's rally against the dollar to close back above the trading channel mentioned in my previous analyses. If the price will remain at current level and climb above 1.55, it could signal that it intends to rally higher, possibly as an Aggressive C entry scenario for the red bearish Bat pattern shown in the chart. If the price will decline lower...
Just like the $SPY, $QQQ also managed to hold above major daily SMA line (50) but below major structure (read SPY's analysis in link below). If the 111$ zone will act as resistance, it could push price lower towards a bullish pattern completion, near 107$ and the daily 200 SMA line A close below the 50 SMA line will be a nice confirmation signal that the price...
$SPY bulls managed to push the price to close above its 200 SMA line again. However, the price did close below the 208$ structure zone (now resistance) and depending on the opening, I see two scenarios here: 1. Bearish open - A close below the 200 SMA line could a breakdown of the Triangle pattern and a massive sell off in $SPY. 2. Bullish open - The price will...
$AAPL closed the week below its daily 200 SMA line and below its weekly 50 SMA line - Major bearish alert on $AAPL. There's bullish harmonic pattern forming on $AAPL with completion near 108$ which could be an interesting buying zone to trade a possible pullback move. Since $AAPL didn't quite get to the Potential Reversal Zone (PRZ), I'm showing two different...
Last Friday we saw most of the majors rally against the USD after $DXY completed a bearish harmonic pattern and created a nice daily reversal candle (see linked idea below). $EURUSD Friday's rally created a nice daily Outside bar with a daily bullish Pinbar pattern, but the price is still below the important 1.1 structure zone that now comes with additional...
$USDCAD still didn't reach my focus zone near 1.34. Despite it recent strength is hasn't climbed enough to complete the pattern and with the $DXY showing signs of reversal, I have to consider possible pullback before further climb. In the chart you see two different scenarios to monitor over the next few days/weeks: 1. Pullback towards 1.28 - If the price will...
$SYMC is about to report next week and from the weekly chart analysis there are interesting patterns on both sides: Starting with the the general stuff: 1. There are three major structure zones I see in the chart (naturaly there are other, but the ones I mention here could be also targets for the different scenarios I'll mention below): 18$, 22$ and 25$ 2. Two...