The FOREXCOM:SPXUSD is nearing the completion of the corrective move higher. We have just completed the ABCD to the downside with a nice rally later in the US session yesterday to move off the low. Today we have 2 levels to watch. Option 1- Temp Bullish. This will see us head higher into the 4680-4720 area a little higher than the 78% level. Then this would...
AUDUSD has just hit the 78.6% Fib level also completing a Gartley. This is where you get the low risk trades with great risk/reward. I traded the C-D leg down as this was a completed smaller Gartley pattern. Now the plan is to either go long to the 0.7280-0.7300 area which would set up a 135 Pattern to sell or we are heading back up to 0.7500 completion of...
GBPUSD has entered the time zone where I'm looking for a sell off. The thinking behind this idea is to sell now with a small 12point risk with the eventual target of 1.3290 but that might come in the second run down today. I'm looking for the first move into 9pm Jakarta time then wait for a PB to either add to the position or enter a new trade. The target area...
After a 135 which hit its targets to the down side perfectly we have a Gartley pattern at the 78% level. This is the 4th lower high since the 3 drive pattern to the top. The symmetry in this is spot on, each retracement was around the 78% level. Im looking for a completion of the ABCD to the downside at 1.3430 area. But 61.8% of the current move up will be a...
BTC starting to line up with price and time to get into the sell area. This will complete a 135 pattern which could create a sell off. We shall see what happens in a couple of hours. I have 2 target areas.
Sold EBAY. Had a great set up 135 Pattern with a Gartley ABCD which extended exactly to the 1.27% area. Expecting a decent break. I will notify on targets later.
I am an oil bull fundamentally and technically speaking. In this forum, I shall stick to technicals and I see a wave 4 completion with a double bottom at the 61.8% retracement level off high volumes. Assuming a 1:1 extension off the 3rd wave, I would expect an upside price objective of $16, +c.26%.
SIE is potentially forming the right shoulder of a head and shoulder formation which topped out at 61.8% of the previous ABCD down move to 100 in Apr'18. The Donald is gunning for Germany and global trade, this can't be too good for SIE. If you see what happened to GE, this could happen to SIE considering they are in the same business. Neckline is at 116 with...
Time for some mean reversion play. COP is the sore thumb sticking out amongst the oil plays with the stock making new highs post Feb crash. With results coming up and WTI completing its own 3-Drive formation as the pipes out of the Permian get clogged, it would be a good idea to put on some downside directional trade on COP. Given the out performance vs. the...