After the earnings report, google had a strong rally, the share price going over the 1000 psyhological level. The pair continued to go even further but 1040 held well 3 times. Aroung this level, there are 4 bearish candles, including today, the first two candles being preceded by corrections. On the weekly chart, those candles that penetrated the upper channel...
Cisco Systems has been in a strong uptrend for a long time, completing a five wave formation. Last months we can see an abc correction till the 38.2% fib, around the 200 day moving average. If we look closely at the top (at wave 5), and look closely at the recent bottom (at wave c), we can see a perfect simetry, a double divergence. Red lines represent strong...
The simplest harmonic pattern there is that everybody knows about is the ABCD, so i've been told. The precision is fantastic, CD leg forming a doji and an engulfing pattern exactly at the 100% projection of AB. This for me looks really bearish. Depending on tommorow's NFP, or today in my timezone, I am looking for a short. I don't know if this is a start of a...
Ford had a good quarter, but for some reason i don't know the share price fell. Now we have a rejection from the 100ma which acted as good support before, a rejection from the trendline drawn from the previous lows and a rejection from the last fib level. First target is the previous high.
I have no ideea how this pair moves from the fundamental side, but technically i have been observing it for a while and i see that it loves to hit support or resistance areas and bounce. If this hit and bounce game will conntinue I expect the pair to move to the upper channel - last high area and then move back down. I included the bigger arrow because on the...
A double top with class B bearish divergence. Main target is at the strong support zone, and the target of the double top formation is around 76 which is very far away, so i do not expect the pair to go there (without a strong fundamental move).
As you can see, double bottom worked well last time, now i am expecting a double top. Again class B bearish divergence, again bearish price action (doji).
Today The Coca Cola company announced higher profits for the third quarter. Techinacally, we have a class A bullish divergence on the MACD. I outlined the resistances, the thicker ones being the stronger ones. Price currently at resistance, but i think it will go past it with ease.
Rejected the old support, bullish divergence on the MACD and Stochastic bullish reverseal. Target around 890
All the information is plotted on the chart. I think we will see a move back up to form a b wave, maybe forming a H&S pattern. If price goes under the 50% Fib plotted, that would also mean under the channel, probably we will see the strong move down everybody is looking for on this pair.
The S&P broke today the trendline drawn from the end of last year. Also, it broke the 100SMA, but as i highlighted, last two times when it was broken, the price moved back up ( i didn't consider the break at the beginning of the year because it was moving over and the 100SMA). We have a fib level close to today's close which might act as support. Although the...
A big class A bullish divergence formed near the 0.90000 level. as you can see in the past, it worked quite well. Also big hammer yesterday, price not closing under the big support area.
Trendlines working almost perfectly. Probably it's better to wait a few more days before entering a short because of the possible government shutdown.
Blue lines represent resistence, currently at big resistence
The australian index formed a doji at a previous resistence. RSI has a slight divergence, but i consider it just a rejection from a resistence. Support at the blue line and at the trendlines. I don't see a trend reverseal, but at least a consolidation is due here before going over the previous high. Stop loss over 5250, tp 5160, 5100, 5050
From the techinacal view, this is a bottom. The EMAs worked well in the past, now they are broken. Big trendline broken. Bullish Class B divergence on Stochastic and MACD. Resistence at 0.91900 from double bottom. Depending on tommorow releseas we might see a move up over the resistence.
Here we have a head and shoulders continuation pattern for the big downtrend, a head and shoulders pattern with three shoulders. Over the last 5 months a symetrical triangle has been formed, with price opening under the triangle line today. Close, we have the neckline, and a few dollars below we have the support line from the last low. In my opinion, the big...
First of all, we have a perfect trendline, which supported price 6 times, the 7th time it has been broken. Secondly, we find the price under the 100ma, which again has acted as support in the past. Thirdly, we have a class A bearish divergence on the MACD. Last but not least, we have two support lines, the first one(red) has been broken, now it remains for price...