Drawn S/R horizontal lines on W1 very strong levels coincide with diagional ray and key Fibonacci levels.
Fib retrace shows 23.6% reversal occurring, Ichimoku suggesting a bounce off kumo -
Channel Commodity Index reverse also respecting diagonal channel.
First target 0% on Fib retrace, trailing stop from then on -
Stop based on historical kijun-sen flat...
Drawn S/R on W1 very strong levels, Fib retrace shows 38.2% reversal occuring CCI Dropping. First target 23.6% - Second 0% - Stop on kumo support but will we test it at all? who knows :)
Here is another strategy code for Jake Bernstein's Stochastic Pop and Drop.
Follow the link -
Unfortunately, I do not have any videos on how to use these, The Link for reference posted with the Script will give you enough information to trade.
Enjoy...
UCSgears
It seems like we are likely to form a pennant here.
Give it some time before it breaks out / down.
Keep an eye on volume for confirmation.
Meanwhile if you are not patient enough you can try to catch the local tops & bottoms in the pennant, but only in the early stage. Once it gets squeezed further it just becomes unprofitable.
Other annotations on the chart.
Cheerz : ]
Following current trends I want to call a price somewhere around $118 going into as far as 2016. It really doesn't look like this company has any more room to grow and a fall in share price is coming.
I have a feeling IBM will gain a bit more, possibly testing resistance again up around $205 making a good area to get shorts in.
The resistance arcs are more for...
