About meLive or die husker fan.
Introduced to the futures market in 2006, learned how to use rsi, with price patterns. Went live trading in the futures market in 2008. That same year in 2008, i came across the ichimoku cloud and the forex market. In 2009 i bega
Price has already treated the 200 ema as resistance as pointed on the chart.
Now price has attacked the 377 ema.
2 possible scenarios.
1) The 200 has began to curve, which is indicating to me that momentum is to the down side.
Price may close below the 377 ema and may find support at the 610 ema.
The 150 and the 200 ema is forming the pinch formation, meaning...
The fib is placed from the x to a leg, the 2nd fib is placed from the c to d leg.
Fibs are lining up with prior support and resistance.
The gartley extended into a prior high, possibly forming a double top.
The buy side of a put option is $1.85 dollars at the $40 strike price for 89 days out,
for 180 days out the $40 strike price is at $2.60.
where the current...
After 5 consecutive tk crosses the market when on a trend.
Currently that pattern of price movement has been disrupted.
Instead of the marketing running up, price shot down and formed a double top
with a thin cloud, indicating this market may produce a kumo break
if there is a tk cross to the down side
On top of that, the rsi is showing divergence as well
If price begins to rally, then price may rally into the 38.2 (132.13) or the 23.6 (134.300 level forming the b to c leg.
Or price may continue to fall before a rally.
certianly a market to keep n eye on
The ym may establish a retracement. Price is currently at a 1.5 fib level along with being at the top of a channel.
If price falls, price may retrace to the pivot low ( described on the chart). Which then may lead to a sell opportunity at the 17370-17700 level, and maybe fall to a support level at the 14450 area.At the 14450 price level rests a middle channel...
Depending on how you view the current state as a pennant or a wedge, traditionally your suppose to buy at the d leg of the gartley. Also there is a pennant or wedge which is typically a buy pattern* the shape of a bullish gartley) however the x leg is not reasonable to validate that pattern.
if price treats the 141.4 as support, there could possibly be a retracement to the 1.19150 level ( this level has been prior support and resistance). Which could form the a to b leg of the gartley pattern. With that in mind the b to c leg may come in at the 1.1239 level if the a to b leg has formed.
The c to d leg lines up at the 2.27along with the 50% fib.
There is two different plays on the chart.
One is a conservative profit zone (orange gartley). The 1.414 fib lines up with the 61.8 on the conservative play.
The second is an aggressive profit zone (yellow gartley). The 241.4 is above the 38.2. At the 38.2 there is a previous double top.
Stops need to be under the support zone ( indicated on the chart).
The feb retracement is drawn from the x leg.
The fib extension is drawn from b to c back to b, which shows the 1.27 extension with possible short term resistance.
The next fib extension is drawn from c to b back to c, giving a ratio of the 61.8 nearly lining up with the 76.4 At the 2015 level.
should also note there is prior resistance near the 2005 level with a...
Pull back to tht neck line on a head and shoulders pattern.
Before the pullback the 21 ema crossed below the 55 ema.
The last time the cross over happened was back in November of 2007.
The left and right shoulder took four months to develop.
The current pullback is in the 3rd month, one more month before a sell off might occur.
Time span on the pullback is...
Price is currently trading at a key level on the daily. Price bounced off the kumo (kumo bounce) slightly above a horizontal and a diagonal support zone.
Technical's are indicating a sell off.
Also note, on the weekly, the over all trend is bearish as well.
The horizontal lines indicate a support zone that matches up with a possible area on a diagonal future support zone(red dashed line).
The reason the blue horizontal line has been drawn to show past support is because of a break out followed by a pull back.
Also, the current condition of the market over all is gravitating farther from the tenkan. In hindsight...