Boeing Will Misdirect the BlameThe game-plan since December has been to prop these markets up at all costs; the PPT joined with the 6 largest wall street banks, Trump called a "buy the dip", the FED turned dovish, and off to the races we went.
For the DOW to continue higher, they need Boeing to be propped up. I envision a classic blame misdirection onto GE/Safran, the manufacturer of the LEAP-1B engines used on the 737 Max 8. Alternative, the pilots are blamed.
Besides offering what appears to be a conspiracy theory, consider the reaction we have seen off the support at $370. Another support sits at $360, and yet another at $330. The 100-day VWMA sits at $363, just between the two long-term supports. CCI and RSI are at historically oversold levels. There are a ton of institutional buyers under this bad boy, and nothing short of the truth (God forbid) will stop it from going up.
I am looking for BA to stabilize around $360 to go long - no need to jump the gun.
Bounce
Death cross on weekly chartThe death cross on weekly chart and a slight bearish divergence shows us s bigger probability of breaking on the downside and retesting lower resistance zones. Expect a retrace till rsi reaches the 30 levels, for a double bounce, just like in previous bear market. Bearsih short term but bullish mid term
FOMC Bounce SetupSome slightly bearish indicators to start the week off.100-hour VWMA has essentially been flat for almost two weeks, bearish divergence on the 100-hour CCI and fisher transform.
Looking for a pullback to or below the $279 level before going long SPY/QQQ April calls for the FOMC meeting. With the FED, the president and the banks working in coordination to backstop any correction in this market, we can expect more of the same. Bond yields continue to be suppressed for a reason - to push cash out of bonds and into stock.
APC LONG - CLEAR SUPPORT AT 40$ (WEEKLY)Anadarko (APC) has shown a clear support at 40.00 and are now looking to bounce back up. With MACD moving into bullish momentum and RSI being oversold, together with the Parabolic SAR being below the price, we have a clear buy
BITCOIN GOT VALID SUPPORT ALONG CHANNEL PREDICTED Bitcoin just bounced from the support as I charted 2 days ago in the idea "Bitcoin's Support, Resistance & Ascending Channel for Next Week".
The Ascending Channel is maintained pretty well, while the upper Resistance is lowered a bit to 4000 USD (Bitfinex:BTCUSD).
A new Trend Line is added, which might be a new Resistance.
Before the bounce, OverSold(Blue) appeared in 30m & 42m, indicated the strong support.
To understand how OverSold is defined in "9 Seasons Rainbow Indicator", and to try DEMO on your favorite assets,
Please check the underneath Resources.
Details can be seen in 15m Chart
##################### DISCLAIM ###################
This is only a personal opinion and does NOT serve as investing NOR trading advice.
Please make their own decisions, carefully assess risks and be responsible for your own investing and trading activities.
Possible Penny Stock Bounce Set Up(OTC:PHGRF) recently experienced a large sell off with the RSI moving into oversold territory. CMF has held steady during this price decline indicating that investors are not rushing for the exit during this pullback. As (OTC:PHGRF) reaches a support level in the mid .50s the RSI and CMF appear to be signaling a possible bounce from these oversold conditions.
GBPJPY | Theorised MoveAfter last weeks move downwards (as predicted) I am now expecting a short-term bounce (1-Day) off the current support level to create a "Relief Candle" (also known as a pullback) before continuing downwards. As we know, next week is a big week for the GBP as the parliamentary vote is in place so be wary of this is you are planning to enter. If market gaps up, I would expect it to continue the move up for the day which'll give shorts an entry.
Silver Hitting Strong SupportIndicators point to a bounce off of low risk entry.
Look at all that sell volume that hits like a hammer - smells like opportunity. Hitting the strong support of 15.00 on dying volume. CCI, RSI and strong support are on favorable terms for a low risk long at this position. Banks love dumping those futures to acquire physical at the cheap.
GBPUSD correction doneI had a bearish bias for this pair, but if EMA100 hold (1hour to finish current candle + 4 hours to see where the next one heads to), we can expect another leg up !
BUY : Now
SELL : 1.33 (or higher depending on the impulse strengh)
STOP : 10 pips below EMA100
Key points to watch : Next candle direction, and tomorrow US Payroll and Employment report
Feel free to like to support me if you made a bit of money on this ;)
NZDCAD Consolidation Bounce or Break?Daily
Price has approached the top of its consolidation range, and has formed a spinning top candle, a good sign of Indecision. Since it is in consolidation, this could be a sign of another bounce moving price to the lower bound of the range.
4 Hour
Dropping to the 4 hour, we don't have signs of much bearish potential. There are signs of bullish potential instead, as there are strong bullish candles. There is currently a market structure level 0.90470 which has 5 consecutive rejections.
Summary
Looking on the Daily, it has potential to turn bearish, however the 4 hour doesn't look bearish at all at the moment. Will be waiting for more signs such as bullish rejection and indecision, or a strong break and close below 0.90470, showing a change in market structure.
NZDUSD preparing next leg upNZDUSD is bouncing on EMA100 to finally close above. This is a bullish trigger to me, and if not, we have a very good RiskReward ratio ! :)
Correction is supposedly done, let's see if bulls take the handles back ;)
Beware of tomorrow US GDP announce, it might invalidate this trade.
Good luck !
BTCUSD has a high probability for second bounce to 3960.BTCUSD, ETHUSD, LTCUSD, EOSUSD have OverSold (BLUE) signals in 9 Seasons Rainbow Indicator, which indicator they get valid support from yesterday's bottom. The pullback of yesterday's bounce has completed. There is high probability for BTCUSD to reach the previous height at 3960 before breaking down the support of 3870. The other altcoins should have similar price activity.
The time frames of OverSold(Blue):
BTCUSD: 15M
ETHUSD: 15M
LTCUSD: 21M , 30M
EOSUSD: 15M, 21M, 30M, 42M, 1H
APPLE (APPL): The biggest dump in historyAPPL has suffered the biggest dump of shares in its history. Price has bounced back by still less than a 38.2% retracement (at this time). Now price is struggling at a key inflexion point. Will APPL recover? I don't know - as I cannot see into the future. The probability estimate at this time is further downside eventually on the weekly to 3-Daily.
[KEY/BTC] Bounce Time ! RSI Oversold Bounce Time! RSI Oversold
Buy Now: 70 Sat's
Sell @ 80 Sat's
Regard's Trading Wizardz.
Bear trap before a dead cat bounce?Good day Traders
Bitcoin has been battling with our DMA50 resistance, is now printing hidden bearish divergence on the daily, and we have potential for bearish DI cross looming.
The recent short squeeze managed a 38.2 fib retracement after our drop from our 24 December swing high, so I have a 168.1 fib extension target of $2780 if we fail to get above DMA50.
Although we had a strong volume candle on the squeeze, we lacked any volume follow-through for a continuation of a rally, and once we reached DMA50, our buying volume dropped off, unlike the build up of buying volume when we bounced from our December lows.
A healthy rally would entail us taking the stairs up and elevator down but this was an elevator straight to our DMA50 resistance.
We could potentially have a drop / bear trap from here, breaking below WMA200 to set new lows, invalidating the triangle from my previous chart and forming support of a large falling wedge, triggering stops just below $3k.
Bitcoin should then have a dead cat bounce, first back above WMA200, then to wedge resistance, and then a breakout with a $4200-$4400 resistance target sometime towards the end of March / start of April.
When btc reaches $4200, I suspect we'll encounter strong horizontal resistance as we have since we dropped below $4500 in November last year and we should meet our DMA100.
Depending on the strength of trend and bottom-calling fomo, we should have a 38.2 fib retracement back to our 61.8 fib support, somewhere around $3670, which will give us 168.1 fib bull trap extension target of $5110 (to DMA200) once we break above that $4240 - $4480 and DMA100 resistance.
If we have a deeper 50 fib retracement to $3500, I'll revise my bull trap target to $4770, which would be a 138.2 fib extension target.
We should then potentially drop back to our $3k support, extending the bear market, with a move to new sub $2500 lows.
Have a look at the NVT indicator which gives us a network value to transactions ratio and has been quite accurate so far on the daily chart for predicting the bottom/top.
You'll see that we're in a great buy area on the weekly chart (flashes green for buy red for sell), but we still haven't bottomed yet on the daily chart, and you'll see that there was only 1 day where it flashed green in 2015 and that was during capitulation.
Previous chart and potential to new lows from here:
Scenario where we've already bottomed:
Another bearish scenario:
NQ1! Long play - Strong trendline from 2016Just closed SQQQ Call options here, this is a simple trendline play, Legacy markets love using these old long term trendlines and I would be extremely surprised if we just ignored it and continued down without a bounce. I think we'll pump aftermarket today or tomorrow latest.
I'm not worried about stoplosses here, just buying some call options that either will, or wont play out in the next week or 2 on TQQQ. So defined risk and potentially unlimited reward. Conservative target would be the 50ma on the weekly (the blue smooth line)
Good luck