truetradero

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About me MBA, CFA and CMT. Equity trader and former consultants in technical analysis specialized in Elliot Waves theory.
Joined Montreal, Qc, Canada powerintegral
Markets Allocation
35 % stocks 24 % indices 8 % cryptocurrency 33 % other
Top Mentioned Symbols
INDU 7% | 4 SPX 5% | 3 CL1! 5% | 3 NASX 3% | 2
truetradero truetradero BTCUSD, 1D, Long ,
BTCUSD: Bitcoin has started its wave 3 of 3, highly bullish
101 0 2
BTCUSD, 1D Long
Bitcoin has started its wave 3 of 3, highly bullish

The correction of crypto currencies has ended I believe tonight, right on time for the EU crisis. Bitcoin could almost double in a short time from here with a standard target in the 12 000 area. Eventually I wouldn't surprised to see BItcoin reaching above 30 000 for this dynamic bullish wave 3.

truetradero truetradero EURUSD, 1M, Short ,
EURUSD: Huge Head & Shoulders pattern on EURUSD - target $0.81
44 0 1
EURUSD, 1M Short
Huge Head & Shoulders pattern on EURUSD - target $0.81

Huge Head & Shoulders pattern on EURUSD - target $0.81

truetradero truetradero BA, 1W, Short ,
BA: Time to short Boeing ?
64 1 2
BA, 1W Short
Time to short Boeing ?

Double top with bearish divergence on RSI . The defense sector is weakening rapidly ( LMT -1.96% , NOC -2.02% , RTN -2.65% ). Boeing -1.92% should follow lower soon.

truetradero truetradero BA, 1W, Short ,
BA: Time to short BA ?
32 0 2
BA, 1W Short
Time to short BA ?

Double top with bearish divergence on RSI. The defense sector is weakening rapidly (LMT, NOC, RTN). Boeing should follow lower soon.

truetradero truetradero TSX, 1D, Short ,
TSX: TSX correction coming
90 0 1
TSX, 1D Short
TSX correction coming

The TSX composite seems to be completing a wave B and ready to initiate a down wave C.

truetradero truetradero QQQ, 1D,
QQQ: Possible running triangle on QQQ
62 0 0
QQQ, 1D
Possible running triangle on QQQ

The US stock market is really choppy but is starting to look more and more like triangles. That would be a running triangle on the QQQ , shown here, and a falling triangle on the DOW Indu. We will have to wait to see which way the triangles break out before being certain of the Elliott waves count. But for now, considering the high numbers of 3 waves patterns ...

truetradero truetradero BTCUSD, 1D, Long ,
BTCUSD: BItcoin having a highly bullish setup
126 0 3
BTCUSD, 1D Long
BItcoin having a highly bullish setup

Bitcoin seems close to start a hugely bullish wave iii of (3) of 3... A new crypto frenzy is on the verge of breaking out, only a break below $6600 would invalidate this view.

truetradero truetradero SPX, 1D, Short ,
SPX: Similarities between recent market activities and september 1987
323 1 5
SPX, 1D Short
Similarities between recent market activities and september 1987

Is a market crash coming ? Rarely, in the last 30 years, have we had a US market price action (SP500) that similar to the days preceding the 1987 crash. There is no certainty that history will repeat but it might useful to consider that it is at least a similar technical setup. Time to be cautious on the long side, as long we don't make new highs.

truetradero truetradero NVO, D, Long ,
NVO: Novo resources in wave (3) of wave 3, could see new highs soon
31 0 1
NVO, D Long
Novo resources in wave (3) of wave 3, could see new highs soon

TSX:NVO seems to have completed it's wave (2) of 3 correction, has started its wave (3) of 3, the most impulsive and powerful wave. The break above the $6.4o area would invalidate the most basic bearish count and a break above $6.80 would give credit to the bullish scenario. This idea is valid as long as the key support of $3.80/$4.00 area holds.

truetradero truetradero NVO, D, Long ,
NVO: Novo resources looking bullish
35 0 2
NVO, D Long
Novo resources looking bullish

Wave II should be near completion, looking for a huge upside with the wave III of (3)...as long as $6.50.

truetradero truetradero BTCUSD, D, Short ,
BTCUSD: Bitcoin (BTC) 5 waves completed, due for a pullback
215 0 4
BTCUSD, D Short
Bitcoin (BTC) 5 waves completed, due for a pullback

Bitcoin (BTC) has appreciated more than 120% in the last few weeks while reaching a market cap above $100 billions. It seems to have completed a five waves from its bottom of a few years ago and from its recent low of $3000. It has also reached the top of its rising wedge while showing divergence on momentum indicators. I believe that as long as it stays below ...

truetradero truetradero BTCUSD, W, Short ,
BTCUSD: Bitcoin seems to completing a wave 3 up, ready for a pullback ?
237 0 7
BTCUSD, W Short
Bitcoin seems to completing a wave 3 up, ready for a pullback ?

Bitcoin seems toppish, sentiment is extreme, medias are all over it, price is parabolic. It looks like at least short term top and that this market is due for a pullback to the $1500-$2000 area over the next 6 months to a year. I would use tight stop if long.

truetradero truetradero NASX, M, Short ,
NASX: Are we seeing the top of the Nasdaq Composite...?
42 0 2
NASX, M Short
Are we seeing the top of the Nasdaq Composite...?

C=A + 1 = 5 + top of channels = TOP ?

truetradero truetradero AMZN, W, Short ,
AMZN: Amazon (AMZN) looking tired, good risk-reward on the short side.
108 0 1
AMZN, W Short
Amazon (AMZN) looking tired, good risk-reward on the short side.

Amazon is completing a toppish ascending wedge on declining volume and momentum. The stock has completed a 5 impulsive Elliot waves count and reached some important long term Fibonacci targets. Minimum downside potential to the 23.6% retracement near the trendline linking the lows since 2014, around $600. A break below $755 would increase our confidence for more ...

truetradero truetradero NOC, M, Short ,
NOC: Short NOC (and the defense industry in general)
62 0 2
NOC, M Short
Short NOC (and the defense industry in general)

The whole Defense industry is extremely overbought in all time frames, even in monthly. Stocks are reaching important long term Fibo projections. NOC is making no exception, showing RSI bearish divergence and declining volume in parabolic rise. % waves completed, has reached the top of its risisng channel. Excellent risk/reward on the short side, target near ...

truetradero truetradero NOC, M, Short ,
NOC: Short NOC (and the Defense sector in general)
17 0 1
NOC, M Short
Short NOC (and the Defense sector in general)

The whole Defense industry is extremely overbought in all time frames, even in monthly. Stocks are reaching important long term Fibo projections. NOC is making no exception, showing RSI bearish divergence and declining volume in parabolic rise. Excellent risk/reward on the short side, target near $167, even $135 possibly.

truetradero truetradero MCD, M, Short ,
MCD: McDonalds at key resistance, expecting a correction
50 0 0
MCD, M Short
McDonalds at key resistance, expecting a correction

MCD is at its Elliott Waves monthly time frame target in the $132 area. 5 waves completed RSI14 is showing bearish divergence. MCD is testing the upper band of its rising channel. $132 area is corresponding to the 1.5x the height of its previous channel projected on its breakout point in 2008. Minimum target in the $101 area, then possibly $82.

truetradero truetradero XLU, D, Short ,
XLU: Utilities (XLU) are toppish, correction expected.
38 0 2
XLU, D Short
Utilities (XLU) are toppish, correction expected.

The XLU has recentlly reached it's high of early 2015 near $50 which seems to offer strong resistance. A double top seems to be in process. Elliott waves count of 5 waves is completed, a correction seems to have started towards the $46.70/$45.35 area, The wave III should just have started, a fast drop is expected. RSI (5) and MACD are showing beairhs divergence ...

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