Moving nicely to start Wave 2 Minor within Wave 3 intermediateFBR Fastbrick Robotics (FBR:ASX) Moving nicely LONG on Intermediate Period with a start SHORT for Wave 2 Minor within Wave 3 intermediate.
A good entry point for this stock will be on the completion of Wave 2 on the Minor period to go LONG
Reference to my previous chart here:
15th August 2017: Fastbrick have announced, Robots to assist building homes in Saudi Arabia, which has driven the price of this stock to a high of almost 0.30, thus developing a Wave 3 on the minor period inside a Wave 3 within an Intermediate period.
Twitter Announcement here: twitter.com
ASX Announcement here: www.asx.com.au
Other Media here: thewest.com.au
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DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out.
.....::::: If you like this chart, please click on the THUMBS UP ! :::::.....
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Intermediate
TGT Target 100% confirmation of Wave 3 Impulse going SHORT !It seems we have a 100% confirmation of TGT (Target) going SHORT on a wave 3 on Intermediate, Minor and Minute Periods. MACD, RSI and Stochastic all show oversold positions and we shall see on next open of market, how far down the price action gap will take us before we see an upwards move on a correction because continuation of downwards Impulse move. SMA also indicates bearish trend continuation.
This is a Very Dangerous sign for Target as this impulse is on an Intermediate period, which means if it continues this way, the stock is headed downwards very fast. A great SHORT opportunity here is at the breakout of a Fibonacci move, for some significant profit. I shall now await for a corrective structure to form within the Wave 3 move, to then take a short on this, all the way to the bottom of wave 5.
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DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk.
Plan your trade and trade your plan... and IF in doubt, stay out.
.....::::: If you like this chart, please click on the THUMBS UP ! :::::.....
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Good SHORT READYOkay 1hr fib has been retraced to the 61.8%, At the current time of publishing stochastics oversold on the 15 minute, overbought on the one hour. This could hold at $44.72 and go lower but we do have a channel support half way into the channel. Waiting for volume to show the direction of the market.
GOOD POSSIBLE BUYI have my fib drawn different today and also I have been analyzing a bit more before I post here. $44.61 is a very strong support and a possible good entry wait for the confirmation, $44.22 is also a good buy with heavy support at that level as well. NYC open my show the direction of the Market after gap is closed. This also may be a good short term short.
QUICK REVERSALI was wondering why oil had bounced at the level it did and I could not figure out why. 1hr fib shows a perfect bounce at the $45.28 level like it did a few days before that. It has to hold 45.53 on the 15 minute in order to go higher. Stochastics looks like they may be lined up for a good push to the upside do not expect more than .50 cents but it may continue
Proposed IT Elliott Wave FlatHere is a more intimate look at the IT structure that we are assumed to be in. An EW flat must have a 90% retrace of wave A to qualify which was satisfied with the latest run up to 2132, and we are currently looking for the five wave sequence back below wave A at present.
If you have any questions about our analysis or any of our analysis systems, contact me at any time at john@mcm-ct.com
Dow Futures, Two sided trade 08:00 am: This week will be eventful. Fed is expected to remove the "patience" from its interest rate policy statement. If so, markets will expect a rate hike in Jun Fed meeting. This is likely to put pressure on the markets in the intermediate term as the expected rate hike, the first since 2006, will be perceived as a game changer.
If the above unfolds, USD can strengthen further and put pressure on earnings expectation of American international companies. The markets can decline if earnings are expected to be soft.
Current market support is on the uptrend line around 17500. Expecting a low volume, two sided trade, till FED announcement.
For instructional purposes only.
WTI CRUDE OIL: incoming uptrendHi Traders,
WTI OIL is very close to the support in the area 75.62-74.94. The sputtering downtrend is "kicking the bucket" and the start of a new uptrend is only hours away.
TARGETS
First down to the area 75.62-74.94
then up to the area 87.53-87.62 (for a start)
ELLIOTT WAVES
The weekly chart shows that the A-B-C will be completed by reaching the area 75.62-74.94 where a new uptrend should kick in. The 4-hour and 1-hour charts are clearly sounding the bell as OIL is staging the very last sub-minuette wave down to the target.