Ugly H&S; a closer lookNow we've gone through the resistance line (red), will ETH drop down all the way to the support of the 520 region and bounce back or continue in the 'normal' rise since earlier this year (the yellow zone)?
Decline
BTGUSD Neutral to bearish - next buy pointsBTGUSD Update Neutral to bearish near term
Left this awaiting a successful break of the parallel to the
upside having bought again around 290-288 - but the break
was dud at 303 first resistance with a couple of tiny pin bars
(like BCH, too) showing rejection....over about 3 hours so
giving loads of time to see the top/resistance forming and
therefore close out with meagre 5% profit (on top of 15 to 25%
profits already banked on BTG this week alone - was banned
for 12 hours last night so no updates for mistakenly uploading
an LTC chart to gold chat room by mistake: Nazis in the gold
room, beware)
So now BTG is falling away down the parallel, not hot but not
too cold either, like BCH right now. Ideally this will fall lower
still, to 270 and could spike down to 262. Look to accumulate
in this range with stops left below 252.
Break Points
Any break below 254 would be very bearish, opening the way
for a good short back to 222-217 range (reverse here)
A break above 308 is needed now (unlikely in near term) to
trigger a long up to 320. More as this develops.
VTR - H&S formation short from $64.17 to $60.57VTR seems forming a sharp downward neck H&S formation. It has strong moneyflow divergence.
We think it has very good downward potential if it breaks 64.17 area.
* Trade Criteria *
Date First Found- November 15, 2017
Pattern/Why- H&S formation
Entry Target Criteria- Break of $64.17
Exit Target Criteria- $60.57
Stop Loss Criteria- $65.77
Please check back for Trade updates. (Note: Trade update is little delayed here.)
JBL - H&S formation short from $27.33 to $18.32JBL is forming a possible H&S formation in weekly chart. It seems a good long term short opportunity.
* Trade Criteria *
Date First Found- November 9, 2017
Pattern/Why- Potential H&S in weekly
Entry Target Criteria- Break of $27.33
Exit Target Criteria- $18.32
Stop Loss Criteria- $32.07, $29.43 (Conservative)
Please check back for Trade updates. (Note: Trade update is little delayed here.)
EURUSD: Continuation pattern prior to next decline still in playEURUSD It's plain to see that this this pattern is still one of continuation and eventually EUR should break the lower
parallel containing this week's minor corrective up-wave and come much lower still...so am not looking to buy dips, more
to sell the EUR rallies back to the upper parallel, looking for much lower values once the parallel gives way...
Whilst being written another pin bar of heavy selling has been created, only confirming that this is a sucker's rally. This time
we need to keep away from the EUR cookie jar. It's pretty much empty. The last hour of trading only adds weight to that
outlook. Look to sell from the smaller upper parallel if retested and then to sell again once the lower parallel is
broken on the downside. EUR has much further to fall over the coming weeks, as per recent comments.
WING- Breakdown short from $31.87 to $28.87zWING seems broken down from an upward channel & consolidating within a triangle formation. If it breaks down the triangle formation or the support around $32, it can decline down to $28 or lower.
* Trade Criteria *
Date First Found- October 25, 2017
Pattern/Why- Upward channel, Triangle breakdown short.
Entry Target Criteria- Break of $31.87
Exit Target Criteria- $28.87
Stop Loss Criteria- $33.53
Please check back for Trade updates. (Note: Trade update is little delayed here.)
Dollar Weakness continuationDecline situation in my previous DXY analysis was a success. There is the continuation of my DXY analysis;
A (orange) - Still looking for bears to take control. As long as we remain under the blue area, that will be our main resistance area for the week. Currently bouncing on a higher timeframe bullish trend line, I am looking for a break and a nice retest for confirmation. We might al Long term more down moves.
B (red) - Still looking for bears to take control. Same technical moves from plan (A). Long term big consolidation range within S&R area and further down moves.
C (blue) - As we might be into fake bearish move as mentioned in my previous analysis, we might starting the next trading week with fake bearish moves. Breaking throughout the blue resistance area and pushing the Dollar further up to reach and bounce off the bearish trend line , also on the highlighted S&R line. Pulling out the fibs on the weekly, this projection could give us an optimal trade entry based on the retracement.
88.4 is my long term bias for the US Dollar . Price action can only determine which situation could occur and even, none of them. This will help on the direction of all USD cross pairs.
Dollar strengh = USDXXX UP / XXXUSD DOWN
Dollar weak = XXXUSD UP / USDXXX DOWN
Sugar - Triangle consolidation in wave 4 completeIn my September 28 update, I called for a final zig-zag rally in wave e to complete the triangle consolidation in wave 4. This e wave has developed as expected and wave 4 is now complete. The final impulsive decline in wave 5 should now be seen towards at least 10.11 and more likely closer to the cluster supports in the 8.39 - 8.77 area from where a new rally towards 14.45 is expected.
Resistance at 14.58 should continue to cap the upside for a break below the triangle support-line near 13.05 for the final impulsive decline in wave 5.
WDAY- WDAY seems breaking down forming a double top. It is rolling over nicely, and moneyflow also turning negative. We think it will be a good hedge for all the Longs we have.
* Trade Criteria *
Date First Found- May 11, 2017
Pattern/Why- Double top breakdown, Hedge position
Entry Target Criteria- Break of $88.43
Exit Target Criteria- 1st Target $88.43, 2nd Target $70.23
Stop Loss Criteria- $90.76
Please check back for Trade updates. (Note: Trade update is little delayed here.)
You can check detailed analysis on -- in the trading room/ Executive summary link here-
www.youtube.com
Time Span- "
Elliott Wave Analysis: USDJPY Can Be In For A ReversalUSDJPY is turning down at the moment which has been technically expected based on a five wave rise from 112.08 which makes a completed wave v) of a higher degree. That said, a bigger corrective decline can be coming in three waves.
Disclosure:
We do not own any assets or share of the instrument mentioned in our outlook
Please be informed that information we provide ARE NOT trading recommendation or investment advice. All our work is for educational purposes only.
27/04/2017 DOW JONES Industrials AnalysisThe price was close to reaching marked resistance, taking a break is these last two days, this indicates a possible exhaustion, so we must be prepared for a further decline in price, although we do not rule out the possibility of a new approach to the resistance.
S&P 500: Major US stock market pullback until around May 2017The Trump rally is forced to take a break after the recent Fed rate hike. A hike which was forced onto the market. A upcoming strong stock market pullback of the "S&P 500" can now easily be blamed on this decision by the Fed. As reaction the Fed is most likely going to cut back on their current plans to hike even more in the year 2017 and then the stock market could rise slowly again, after all weak hand mom and pop investors have sold at the bottom of the pullback to all strong hand long-term investors (who were waiting during the last weeks for an opportunity to buy cheaper into the big rally).
Related news:
'Three steps and a stumble' feared after US Fed raises rates - March 12, 2017
Although US Fed chief Janet Yellen has moved very slowly in raising rates, and has gone out of her way to prepare markets for the inevitability of higher rates, some analysts are warn that the old market adage of "three steps and a stumble" – which predicts a US share market selloff after three Fed rate hikes – is likely to hold sway. And this could have extremely important consequences for the behavior of US consumers, who have been comforted by the rise in value of their homes and share portfolios, and have continued to spend briskly even though they have yet to to enjoy a strong lift in real (inflation-adjusted) wages.
www.afr.com
Three steps and stumble rule
The principle that security prices will decline following three consecutive increases by the Federal Reserve in the discount rate it charges commercial banks. The rule stems from the negative effect rising interest rates have on security prices.
financial-dictionary.thefreedictionary.com
The overall downtrend could be large and quite fast. My 8 month old forecast has the downtrend going back down to around 2150 or even 2000 points:
But with so many bulls in the market and overall improving economic data during the last months I currently think the pullback ends around 2300 points or even higher earlier as my best case scenario. Worst case this turns into a larger crash which will end down further and later around 2100 points.
Short entry: 2360-2375
Stop loss: 2390
Target: 2300-2225
Risk: 15-30 points
Reward: 60-150 point
(2360-2300, 2375-2225)
P.S. I mentioned the downtrend risk already as a warning in the comments of my previous chart '"Phase III" Of The Trump Rally' 21 days ago (on February 28, which was one day before the "S&P 500"peak at 2400 points). Since then I was waiting for even more confirmation by the price action that a market top has been reached, which is now the case on March 21, 2017.
NVDA - Head & shoulder formation short from $108.07 to $90 areaNVDA came up in our smart money course. It had a really long run, and now seems forming a Head & shoulder. Also seems forming a double top. We think it has very good down side potential & it can drop to $90 shortly.
* Trade Criteria *
Date First Found- February 13, 2017
Pattern/Why- Head & shoulder; Double top
Entry Target Criteria- Break of $108.07
Exit Target Criteria- $90
Stop Loss Criteria- $116.13
Please check back for Trade updates. (Note: Trade update is little delayed here.)
JACK - Support breakdown short from $92.77 JACK looks pretty interesting short setup. It had a huge decline below MA200 & holding this support now. Moneyflow has plummeted. It has huge downward potential if it can break the support label.
* Trade Criteria *
Date First Found- March 2, 2017
Pattern/Why- Support breakdown
Entry Target Criteria- Break of $92.77
Exit Target Criteria- Momentum
Special Note- We would consider $95 April Puts @ $3.60 or $95 Jun Puts @ $6.50
Please check back for Trade updates. (Note: Trade update is little delayed here.)
XYL - inverted flag formation short from $46.63 to $40 area. XYL seems breaking down underneath Resistance, and seems forming a flag formation. Downward volume is increasing & moneyflow is going down as well. We think if it can break below $46.63 it can go all the way down to $40 area.
* Trade Criteria *
Date first found-February 9, 2017
Pattern/Why- Resistance breakdown, Inverted flag formation
Entry Target Criteria- Break of $46.63
Exit Target Criteria- $40.63
Stop Loss Criteria- $49.13
(Note: Trade update is delayed here.)
FCX - Possible head & shoulder formation, short from $14.83FCX came up in capture in crush scan. It seems forming a head & shoulder formation. It can easily break down to $13.43 area.
* Trade Criteria *
Date First Found- February 16, 2017
Pattern/Why- Head & shoulder, Capturing the crush
Entry Target Criteria- Break of $14.83
Exit Target Criteria- $13.43
Stop Loss Criteria- $15.33
Please check back for Trade updates. (Note: Trade update is little delayed here.)
SLF - Rising wedge breakdown Short, from current label to $36SLF seems breaking down from a rising wedge formation. Good moneyflow divergence. We think it will decline from current label & it can easily decline to $36 area.
* Trade Criteria *
Date first found- February 2, 2017
Pattern/Why- Rising wedge breakdown
Entry Target Criteria- from current label or retest to resistance around $39.
Exit Target Criteria- $36
Stop Loss Criteria- $40.13
(Note: Trade update is delayed here.)
LKQ- possible H&S short formation at the break of $30LKQ seems forming a Head & shoulder formation, but its yet to break below its neck line. If it can break below $30, it will be a good shorting opportunity.
*Trade Criteria*
Date first found- February 9, 2017
Pattern/Why- Possible Head & shoulder formation
Entry Target Criteria- Break of $30
Target & Stoploss - TBA
(Note: Trade update is delayed here.)
KMI IS OVERBOUGHTExpect KMI to drop a minimum of 1% over the next 13 trading days. In reality, the drop could be as much as 5-6%.
Historically when KMI ROC (14) is above 9.8853, the stock always retreats a minimum of 1%. The trend and recently similar overbought readings support a 5% drop.
$SBUX Continues to Slide$SBUX continues its slow decline through 2016. After an incredible run in 2015, this is to be expected. Although $SBUX is still maintaining its dominance in the coffee world, it is at the end of its massive growth cycle. I expect growth to be incremental in foreign countries and China to determine the course of the stock over the coming months/years. Until it sees a turnaround in volume and RSI...keep this on the long term watch list.
www.trendyprofits.com
SHORT DAXWhat I am looking for is the market to continue getting rejected from the 2 red zones. This has happened on multiple occasions and if the market continues to fail to break above these zones then we want to be looking for shorting opportunities.
Trade is to short the market below the 10,527 level which is the orange dotted line.
Target for the trade will be the 10,200 level as a main target, however I will be taking profit at more immediate levels 30, 60, 90, 120, 160, 200, 250 points and then the 10,200 level which would be around 320 or so points.
Stop loss for this trade is going to be 10,635 on the short below 10,527
Squeezed OUT - XRP FLIP iminnent!XMR has enjoyed a nice ascent to glory the last couple days, and the time of reckoning is here. The downward wedge is pretty much always indicative of a price decline. I am going SHORT on XMR here.
Entered position at 1420.
Target: 1180 - 1230
Stop: 1480
Comment and let me know whether you agree or think I am going to lose all of my money.
Dis gun b gud.
GBPUSD:Will usher in a new round of decline?GBP continued to fall two conditions required:
1.U. S. economic data must be strong next Monday,
the probability is greater than 60%,
because the employment data on Friday exceeded expectations
2.Next week, the Bank of England rate decision must clearly release a loose signal
My point of view is
The pound will continue to fall next Monday and Tuesday.
Wednesday, Thursday a sharp shock, waiting for the interest rate decision
Friday because Thursday's resolution is uncertain.
The specific operation points will be given on Monday.
