Do you expect current pattern's breakdown to have the same impact as previous time? Or much more severe impact? First bearish sign in weeks in the $SPY
lOOKS LIKE MORE HEADROOM FOR STRONG TRENDING PEMBINA.
The enterprise software company's Q2 earnings met analyst estimates, and ServiceNow raised its revenue forecast. But ServiceNow stock was down. Technically we had wide wedge that gave good buying opportunities with reversal candles (check my long ideas in the links below). But fow now, stock resolved its indecision pattern to downside on increasing volume....
Playing the price action I am going to wait till end of hour to confirm a bounce and then either jump in a LONG position or a SHORT position depending on the results of the next bar.
This trade doesn't contain any Harmonic influence, as it is simply a retest of former support. The breakdown of the GBPCHF is clearly portrayed on the Daily chart, which has shown recent violations of two trendlines and a 2-3 week support. The current retest of this support-turned-resistance level is further displayed on the 1 Hour chart. With a clearer look into...
A near term top was called last week in NZDJPY but something bigger may be underway. The rate has seen its deepest penetration of 2 year trendline support. The line, when extended from the June 2012 top, exerted influence at tops. As such, the action at this trendline is a major development. Near term, there are characteristics that make the current situation...
Based on Structure's and Fibonacci confluence, channel,... If ADP Nonfarm Employment Change is better than expected and if Fed Chair Yellen Speach drives the pair up it could soon reach 0.89048 if these things don't drive up USDCHF it could still reach 0.89048 and then there would be a shorting opportunity. Then ==> I will open a short position...
European indexes ended the week lower first time for the last two months — something to take notice. French index CAC40 was the worst performer, broke its accelerated trend line and closed below 8 EMA. It will be healthy to see some type of consolidation after the big move up with a potential intermidiate target at 4,264 where 50 EMA is situated. But first it...
Genreral Electric resolved Head&Shoulders pattern to downside and closed below the neckline and 50 EMA. That tell us about relative weakness vs broad market. In case of down scenario of SPY (check my comments on this idea in the link below), this company from Industrial Industry (etf XLI showing relative weakness probably because of tension in Iraq and higher oil...
Different entries and playbook trades that make sence for me with comments on the chart.
In the morning I was talking about IBM short idea. Price confirmed idea. This is trade management review because entries and exits matters. Comments on the chart. Check my idea in the link below
Yesterday I was analyzing 4-hours timeframe where I mentioned series of lower highs (sellers in control). Today, it broke down 1.67800 important, intermidiate level of support which acted like resistance before with nice "h"-pattern (pullback trade). I keep my TARGETS at 1.67000 and will continue to navigate this downside action. Check my previous thoughts in...
eBay broke down major support at $50 and closed on dead lows at $49.60 on Friday showing relative weakness as markets trading on highs. Today, it opened with gap and caught some early follow through. Gap open could be new point of reference at $49.30, then we have $49.50 previous low of the day and then $50 psychological level which should act like resistance if...
Drug Manufacturer Brystol-Myers was trending up and topped at $57. At $54 it dropped below key moving averages - for me its point to make adjustments. Recently it has been hovering around 200 EMA and now broke down with conviction on volume above average. The last potential support was at $47.50 but buyers failed to hold it. I think if it will hold below for the...
EBAY is on my short list. As it trades below all key moving averages including the most important one 200 EMA, means that bears in control despite storng market and technology sector as well. Earlier it failed to hold above $58 (breakout point) and definitely it is not a good sign for buyers. Ebay gapped down on earnings on 30th of April with pivot resistance at...
ACAD was holding major support $20.06-21.33 since October 2013 and now it acts like resistance. Today ACAD triggered ENTRY short below consolidation support at $19.00ish area. TARGET is April's low at $15.58 STOPs above 21 moving average
Banks also continue to look very weak as Bank of America (BAC) broke lower out of a lower level consolidation. The stock gapped down on it's earnings. Now we have point of reference at $14.71, if it will go through previous low of the day I will be considering Short option. Resistance at $14.86 then $15.00, if price will pullback to that area I expect to see some...