truetradero

PRO
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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 23 % indices 9 % commodities 33 % other
Top Mentioned Symbols
INDU 9% | 4 CL1! 6% | 3 NASX 4% | 2 NVO 4% | 2
truetradero truetradero PRO NVO, D, Long ,
NVO: Novo resources in wave (3) of wave 3, could see new highs soon
8 0 0
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 PRO NVO, D, Long ,
NVO: Novo resources looking bullish
25 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 PRO BTCUSD, D, Short ,
BTCUSD: Bitcoin (BTC) 5 waves completed, due for a pullback
199 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 PRO BTCUSD, W, Short ,
BTCUSD: Bitcoin seems to completing a wave 3 up, ready for a pullback ?
235 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 PRO NASX, M, Short ,
NASX: Are we seeing the top of the Nasdaq Composite...?
36 0 2
NASX, M Short
Are we seeing the top of the Nasdaq Composite...?

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

truetradero truetradero PRO AMZN, W, Short ,
AMZN: Amazon (AMZN) looking tired, good risk-reward on the short side.
106 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 PRO NOC, M, Short ,
NOC: Short NOC (and the defense industry in general)
55 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 PRO NOC, M, Short ,
NOC: Short NOC (and the Defense sector in general)
15 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 PRO MCD, M, Short ,
MCD: McDonalds at key resistance, expecting a correction
48 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 PRO XLU, D, Short ,
XLU: Utilities (XLU) are toppish, correction expected.
37 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 ...

truetradero truetradero PRO USDCAD, D, Long ,
USDCAD: USDCAD at key support, rebound expected
177 0 4
USDCAD, D Long
USDCAD at key support, rebound expected

USDCAD reached key support near 1.29. A rise from here is expected for a wave 5 that would eventually could bring the pair to the 1.60 area. A break above 1.3650 would give credit to this scenario while a break below 1.290 would weaken it significantly if not completely. This corresponds with crude oil that reached important resistance in the $40 area and should ...

truetradero truetradero PRO XOP/XLE, 60, Short ,
XOP/XLE: XOP/XLE
41 0 1
XOP/XLE, 60 Short
XOP/XLE

A 5 waves impulsive up movement seems to have been completed on the raito of XOP/XLE. A pullback is expected soon. A break above 0.49 would invalidate this view.

truetradero truetradero PRO CL1!, 240, Short ,
CL1!: Crude oil g toppish, losing momentum, near importance resistance
500 2 9
CL1!, 240 Short
Crude oil g toppish, losing momentum, near importance resistance

Toppish wedge pattern, near long term trend resistance. Key support at $34.20, broken opens min $31.75. Standard taget between $29.65 and $28.20.

truetradero truetradero PRO CL1!, 60, Long ,
CL1!: Elliot waves count suggest more upside coming to crude oil
279 1 3
CL1!, 60 Long
Elliot waves count suggest more upside coming to crude oil

Crude oil seems to have completed a wave (2) or (b), possible impulsive wave (3) or (c) coming as long as $26.74 holds. Target min at $35, max $39.

truetradero truetradero PRO EWC, W, Long ,
EWC: EWC on long term support, rebound expected
25 0 1
EWC, W Long
EWC on long term support, rebound expected

EWC is oversold and at key support. Excepting a rebound.

truetradero truetradero PRO CL1!, W, Long ,
CL1!: Crude oil near important supports area (between $33 and $27.65)
155 0 3
CL1!, W Long
Crude oil near important supports area (between $33 and $27.65)

Crude is reaching important Fibonacci projections, at important graphical support. USDCAD near key resistance around 1.4250 while copper is at important monthly support on trendline linking the lows near $1.95/$2.00. The whole commodity complex seems due for at least an important rebound, at least the risk/reward is starting to be interesting.

truetradero truetradero PRO MA, W, Short ,
MA: Mastercard reached it's wave 5 target, correction has started
38 0 1
MA, W Short
Mastercard reached it's wave 5 target, correction has started

Mastercard seems to have completed a 5 waves rise since 2006. Therefore we are expecting a 3 waves process correction over the next few months or years starting with a wave A with a target around $79. *Disclosure: I am short MA at the moment of this publication. This is only an idea and shouldn't be taken as an investment advice.

truetradero truetradero PRO DXY, M,
DXY: US dollar index remains bullish as long as 96.70 holds.
32 1 1
DXY, M
US dollar index remains bullish as long as 96.70 holds.

US dollar index remains bullish as long as 96.70 holds. Target at the top of the channel near 108/110.

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