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
33 % stocks 24 % indices 9 % commodities 33 % other
Top Mentioned Symbols
INDU 8% | 4 SPX 6% | 3 CL1! 6% | 3 NASX 4% | 2
truetradero truetradero BTCUSD, 1D, Long ,
BTCUSD: BItcoin having a highly bullish setup
112 0 2
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
320 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
23 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
31 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
213 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...?
41 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.
107 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)
58 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
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 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 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 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 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 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 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 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.

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