GBP/AUD SHORT After the strong breakdown last month, I have been waiting for an opportunity to get in on the bearish momentum. These are 2 scenarios that I believe have a high probability of playing out.
As I've said before, just because I have a strong bearish bias it doesn't necessarily mean I'm going to go put on a position straight away. What I need to see at either of these areas is a nice rejection on the daily/weekly timeframes and a intra-day trend change. In doing this, it gives me a higher probability that my position will work out.
Bigshort
The Great Long Play, Buffet Call & Master of StabilityI always wondered why anyone would invest in Moodys. Well, looking at its trend lines, its consistent ranges, stability and growth with the prevailing market sentiment, it seems like an almost no-brainer as to why you'd start and hold a position in it. While it's hard to want or even give a PT for the stock, it has weathered this year well and should return to $170 levels without problem. In a year where people want to avoid stability and find good hiding places, MCO might just be that. I'd personally ride this one out to $175-180 before taking gains and watching for a new range, ala 2016, to trade within depending on how this year unfolds into 2019.
NASDAQ is running out of timeJust like SPX and DJI, NDAQ is highly overbought. It is closely supported by MA 20 and MA 50. Funny enough, its long term support is pretty much the same as its MA 50.However, it it goes below the support levels it will tank like no other. You do not have to be a top trader or market analyst to see this. I do not know when the crash will take place but I am sure that we are getting close to it day by day.
This is not a trading advice and I am not responsible for any losses may occur from following the idea.
one last fallIn few weeks, there is no such big fuds incoming. So before the fresh new bull trend, one last fall incoming according to elliot waves theory in bigger picture.
I drew few strong trend lines that was going efficiently since july of 2017 and january of 2018. Plus 1 pitchfork tool.
Target 1: 7500
Target 2: 6200
Target 3: 5400
It can take around 5-14 days. Stop lose at 9900 Because its break of huge trend line from january of 2018.
I will buy laddered stage. 7500 -> 30%, 6200 ->30% 5400 ->40%
GL
SPX / M1 : no more room for buyersSome who follow me knows that I've been searching for a top for quite while. I've been taking some stoplosses due to a bad timing. Anyway that never meant that I was bullish ^^
Even though I remind you that the big short top is not nearly here ! I still think that we're reaching a mid term peak here and we'll shortly look forward to support areas.
We've managed to push as high as we could, but we're now facing an nearly impossible to breakout resistance that is the long term trend channel from the previous wave 3.
This wave was our exteded wave which means that the 5th wave cannot breakout above this trend. So basically what that means is that no matter how high we pushed we're about to lose momentum here and most likely fall back to supports to buy the subwave 4 point before jumping in to the big short later on and which will probably also be near the channel's top area.
Hope this idea will inspire some of you ! I'ld appreciate any like/follow if you feel like it deserve it ;)
You can check my indicators via my TradingView's Profile : @PRO_Indicators
A short pip trade on USDCAD to 1.2000I believe that this currency will hit my target 1.2000 sometime this week or either next week. This pair has been trending for quite sometime after it made a higher low in the in the 1.3000 price range highlighted with a purple box. My fibonnaci retracement levels were also drawn on the chart for added confirmation. The C retracement corrects right onto the down trendline where price made a higher low, and this was a major confirmation for a downward movement. But also, the engulfing candle sticks right after the fib C correction was another major confluence to support my analysis. Price may continue to fall if it breaks my major up trendline if it does not you can look for a 1000+ pip LONG trade back to 1.4000 or 1.3500. FX_IDC:USDCAD
NZDUSD could this be the big drop?Price started trending UP since May 11
Now NU has been in corrective pattern since June 14 at big figure 7300 and weekly Trend line creating resistance
Price Rallied and failed to break mid figure .73500. My entry was june 14 high .73200
Correlating audnzd bullishness indicating a weaker nzd as well as a strong dollar over the next few months
Entry .73200
Stops: .7400
T1: .71450
T2: .70815
T3: .68200
DAX Taking Profit time... But no "big short" for now (later)Just as american indices the Elliott count suggests that the "big short" is coming a bit later ! Anyway there's no point buying the current prices either.. Buyers must get out here and wait for better prices to come back in for the last ( III ) wave before we get to reach the final supercycle count.. Which will mean that we will finally be able to get that supposed "big short" trade ! At least a low risk level to try it out !
Anyhow for the moment it's time to eventually short for a daily/weekly retracement and the signal should be coming pretty soon.
81% of traders are currently short on the SP500!According to www.dailyfx.com market sentiment tool a staggering 81% of traders are holding net short positions on the SP500.
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Now I understand that roughly about the same percentage of traders don't make money and maybe that's why the SP500 has been making new highs lately?
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As always, I present you with my technical view of the market and then you can decide.
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Looking at the monthly charts it's fairly easy to say were due for a correction, but "when" is the key here. So I'll start with the 2 day chart.
A close look at the most recent impulse compared to the last impulse. They are almost identical in range...almost. Singularity presents itself directly at the WEEKLY -270. Spotted at 2423. Only 9 points away!
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The normal daily interval is showing us massive divergence on the MACD
Same with 4 hour
Same with 1 hour
And the weekly chart shows the same divergence with a 5 wave count.
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Price has been stalling just under 2400 for quite some time. And we saw a quick sell off just last week which recovered to new high's just as fast. Historically, before sell offs we normally see some irregular price action like this.
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Go back to 2008, we see price correcting not steadily climbing as before! It does this for around 148 days before the sell off in December.
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Rewind to 2000, right before the crash.
We see price stalling for around 157 days and selling off sharply in October.
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And then there was 1987
This thing didn't give much of a warning. Perhaps it was a time where less market manipulation took place? But we can see the sell off came around the end of of October.
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Drawing from current technical analysis and historical data we may see some shit going down by the end of the year. Be patient and don't try and pick a top people! Just look at the charts from 1987, 2000 and 2008. I can see a few places for perfect entries AFTER a sell off was already confirmed and price really wasn't too far away from the top anyway.
Bottom line : The crowd is right, but they got to the party early and the music hasn't even started yet so its kinda awkward.
DAX : H2 shows possible double top on 12850 before dropGER30 INDEX:DAX
Following on from the previous daily/weekly analysis (right below), the intraday H2 chart shows that the market could still need to run for a 5th subwave before reaching the ( III ) cycle end. As we can clearly identify a 1st wave expended impulse for this last move, we can plot a theoric target at 61% extension of subwave 1 starting at current supposed subwave 4 . This gives us a target that could make the prices climb up to the very same price of our current market top (and historical high). This would mean a double top formation to finish the current sub-impulse and having the perfect low risk short entry for an agressive trade.
BUT there's one important thing about the fact that when it comes down to historical highs, markets rarely fail on double top configuration (more likely on Vtop with a spiky false breakout attempt rapidly reversed).
So I think a short agressive entry on the possible double top would need to have a large stoploss in order to sufficiently be able to handle a possible false break of historical high. Of course the best case scenario would be to have a look a even lower timeframe (like 5/15m) whenever the prices will reach out to the approximate price we identified here !
Hope this idea will inspire some of you ! I'm pretty new to TradingView so I'ld appreciate any like/comment/follow if you feel like it deserve it ;)
Linked D1/W1 analysis for the background trend counts :
WTI Voodoo & the Dollar Carry Trade.My short at Friday's close...my currency wave indicates that oil is over bought. and has been since Christmas. COT reports shows new money (retail), MM, Chinese, etc.. are all long, at +seven to one (7/1), with record net positions. Both the timing and direction of the dxy/oil value wave, confirms this is a carry trade. Cheap money leveraged longs.. with little or no hedges. That side the boat is full... too full for me.
The range from spikes to dump tells me oil is only really being supported by the dollar. But there are limits to this action, and ultimately higher dollar hurts wti. Imo, we are at or near that level now. Fundamentals, why mention them.. bottom line, too much oil. Way too much. Lastly, Sine wave shows a target on 3/3/17 of 49.15
And if none of this voodoo helps .. then simply, Short 53.89 with SL of 54.43, and moving Target of 1hr./MA100 or lower. Good Luck.