As you can see in the chart, we have two trend lines which acted as support in the past and now create a resistance zone. This comes with the completion of a weekly AB=CD pattern. Is it the end of the QE effect? Pullback to 10,000?
After two harmonics pattern, the $USDJPY is ranging to gain momentum before its next big move. In which direction will it break? The 200 SMA line will act as resistance in any attempt of upside breakout.
The harmonic patterns mentioned last week, completed after a great report published by $AAPL. The price action in the PRZ following the report suggests we may see a pullback or a bigger bearish move in the following weeks. 120$ is the key resistance level for these patterns to work. Read about this setup and more in this week's Weekly Markets Analysis -...
In this week's Weekly Markets Analysis newsletter: marketzone.tumblr.com We have several minor buying zones to trigger a long entry in $EURUSD. We are still in the PRZ of a weekly AB=CD pattern (see idea below), so these setup may support a longer term bullish trade in $EURUSD. Read it all here: marketzone.tumblr.com Subscribe to the newsletter at WWW.THEMARKETZONE.NET
In this week's Weekly Markets Analysis: marketzone.tumblr.com Two potential bearish harmonics in $XLE provides a setup for an Aggressive C entry. First target for the bullish trade is 79$ See the rest of the scenario and more in this week's newsletters: marketzone.tumblr.com Subscribe to the Weekly Markets Analysis in WWW.THEMARKETZONE.NET
Crude has created a second weekly bullish candle inside the PRZ of the Bat pattern I posted here previously. If it'll cross the 50$ resistance zone (which is a target level for those who entered at 44$) than 60$ will be the next resistance zone and target
Since the end of 2014, the $SPY has been trading in a range between 200$ and 208$ (With a Yellen spike to 212$) The bulls are really fighting over the 198$-200$ zone while the bears are getting more and more aggressive trying to push the price below it and breach the "Bulls fort's gate". The reason this gate is so important is because despite all the selling...
These are several day trading scenarios, based on harmonics, we had in the Elite Zone this week. If you like what you see, you can join the members here: www.themarketzone.net
If you want to seize an opportunity by catching a possible pullback in $USDCAD. Monitor this trading channel for breakdown scenario.
$FAS is testing the bottom of a weekly channel. Critical support zone to watch but on the longer term, I'm bearish
The daily Head and Shoulders you see in the chart can be triggered tomorrow with the assist of a bad report. Are you bearish enough to bet on this pattern? Interesting
From this week's WMA, $AAPL jumped right into the PRZ marketzone.tumblr.com
Daily Bat pattern was the Elite Zone earnings setup. Great profits in this trade. OTM put options sold are now worthless and reached almost max profit.
Trade between support and trend line. Looks like support could breakdown soon.
200 SMA line, support zone and monthly uptrend line.
This harmonic setup, posted on the Weekly Markets Analysis newsletter, reached its first target level. Next target levels are 1250$ and 1235$. It must break below 1270$ to confirm continuation
$IBB at new ATH and inside the PRZ of this daily AB=CD harmonic pattern. 330$ should be the top of this spike high for this pattern to work