Oceanai
US OIL - Potential upside move to 78.00TVC:USOIL After the Gap up on Monday we got a nice retracement back to the 61.8% level yesterday followed by a 200 point rally.
Now there is the same pattern on a smaller scale but the same set up.
if it holds above 71 then the intra-day upside target is 73.00 but there is a chance that on the higher TF we could get to 78.00.
See how this one plays out.
I will post updates as it goes along.
AAPL - Time for a Correction??NASDAQ:AAPL Has rallied 35% this year and is coming into Earnings this week.
Most of the other Tech giants have reported and have had rallies, Is AAPL going to continue this or are we due for another correction to get long.
If its really bullish like the last move a move back to 160 would be all we get. If it breaks through these levels then 150-155 is the next level.
There are smaller patterns completing around 170-171 so these are the levels to watch.
US Interest rates this week which will give a bit of volatility and the VIX is at very low levels not seen since 2021.
These are the conditions setting up this week.
Enjoy the week.
MSFT - Getting close to major resistance.NASDAQ:MSFT is up 19% over the last month and is now coming to some major resistance.
We have the Double 1.618% levels from the previous 2 highs plus the 61.8% level from the ATH.
The measured ABCD is up just above 300 which is also a major FIB number 3.
We have just gone past equal tops in time.
If its similar to the last retracement then we should be looking at a move back to 250-270.
Big week ahead with a major turn point coming on Tuesday.
Enjoy the week.
EURUSD - 3 Week Pattern Completion. OANDA:EURUSD Completed a 3 week pattern on Friday now im looking for a 382 retracement to get short for the move lower.
DXY seems to have hit a low as well which should give us more downside.
Targets are 1.0800-1.0860.
Potential on more downside with bigger patterns playing out.
Enjoy the week.
Long Ocean For Short SqueezeLonging ocean here for mean reversion trade, we have head and shoulders confirmed but candle sticks show buying pressure, classic short squeeze situation, greed trade is to the downside now...In channel, RSI tanking, 40 percent off highs, HTF diagonal support..looking for a swing here, smaller size no stops. Not advise.
SILVER - One more move lower. OANDA:XAGUSD is looking to go lower to 19.00 but are we going to 23.00 first then selling from there.
If we get below 21 then we are on our way but a rally from here would see 23.
Smaller TF there is an ABCD and a Gartley where it is now.
I hope this helps. Enjoy the day.
SP500 CASH - Another Bear market Rally??SP:SPX is in the process of another Bear market rally after yesterdays CPI data gave us one of the biggest one day rallies of all time.
But if we look at the previous rally with time and price that gives us an upside target area of between 4150-4200 for around early December.
If we get there earlier and go through 4200 then a major low could be in and we head to new ATHs again.
The FED is in there again giving us the higher interest rate story but helping the market at the same time.
This is also a seasonly bullish time for the market so it will be an interesting few weeks going into the end of the year.
I hope this helps.. Enjoy the day.
GOLD - PB to Buy then more Downside. OANDA:XAUUSD also had a nice rally on friday. Now we look at how it reacts on Monday.
Ideal scenario would see us get a 382 retracement back to the 1643 area to then look for the equal leg ABCD towards 1680 and potentialy a move to the 61.8% 1733 and beyond.
But as we are in a down trend we need to be selling any ABCD Retracements.
Another one to watch early Monday. 👍👍
EURUSD - Move back above parity??FX:EURUSD had a nice reversal on friday and now looks to be headed above parity again before we see more selling come in again with a move that could take us to new lows again.
Monday I will be looking for a high to come in then look for the first retracement to Buy.
Ideal scenario would see us come back to 0.9800 around the 382 then rally from there.
A big week ahead. Enjoy!! 👍👍
SOLANA - PB to SELL!!Waiting for this low to come in and give us our next sell level.
Multiple corrective patterns over the last couple of months followed by a sharp drop has set up more downside.
It could get back down below 20 again before the next decent rally.
Ideal scenario would see a rally back to the 38 area in an ABCD pattern over a week.
Lets see how this one plays out..
S&P500 - WEEKLY PATTERNS AT WORK. FOREXCOM:SPXUSD Has some nice symetry and patterns working in the longer TF.
We have the smaller cycle looking for a low around the end of October with the larger cycle taking us into Jan next year.
This could also be the start of a 2-3 year cycle taking us down to below the Covid low.
But one step at a time. Looking for a rally over the next few days to sell into again.
I hope this helps. Enjoy the day. 👍👍
USDCAD- HIGHER PRICES!! FX:USDCAD on the longer time frame it looks as though we are heading a lot higher towards 1.3000 - 1.3300 areas.
1.3026 is the 382 from the 2020 high.
This is also the area where the ABCD will finish from October last year.
There is also the bigger ABCD from June last years low.
Once these patterns finish later in the year there could be another big sell off.
Things to watch going forward.
As it stands im looking for a pull back to get long.
BTC UPDATE - STILL MORE DOWNSIDE??Not much has happened over the last week but a very weak rally which is looking corrective.
There might be one more low to the 78% around 19237 then I will be looking to short a rally back to the 22-23k area chasing the final move lower towards 12k.
Just an update for today, no trades as it is I will just wait for the pattern to show itself and go from there.
Enjoy the week!! 👍👍
BAT - CRYPTO MOVING NICELY TO THE PATTERNSBINANCE:BATUSDT has had a nice move down from the larger Patterns on Sept 5th now we are looking for more weakness down toward 0.30 to complete this ABCD pattern.
If we look at todays AI there is a CIT Window at 13:00 this afternoon.
If we could get one more rally up towards 0.33-0.3350 that would set up a sell signal for a minimum move back down to 0.3200.
A nice one to keep an eye on as its moving nicely to the patterns I trade.
I hope this helps. Enjoy the day. 👍👍
ETH - MULTIPLE PATTERNS @ THE 78%Once again we have a corrective rally.
We have just completed multiple patterns in COINBASE:ETHUSD this morning @ the 78% level setting up the next move below 1400.
The good thing about patterns completing @ the 78% is that you dont have to risk much because if we get above 1720 then the pattern are wrong and we look for something else.
I hope this helps. Enjoy the Day!! 👍👍
SP500 - Intraday turn points.I have marked out the Intraday turn points fot the FOREXCOM:SPXUSD .
Ideal Scenario would see a rally into 4030 @ 00:30 just over half way through the US Session setting up another Sell signal.
The other option for this is that it could be a low and mark a reversal.
The other Key Time is @ 21:30 this might set in motion the next move higher.
This is a time based strategy that can be a low or a high.
Lets see hoe this plays out..
This doesnt always work but when you use patterns with it, it can give you an edge.
BTCUSD - A Simple way to look at things. In this look at COINBASE:BTCUSD I just use simple patterns and timing to give us the downside target of around 12k.
This lines up with previous market tops and lows when it retraces up to 88.6% from the ATH.
The other reason for one more low is the fact that the 3-4 week rally from the June low was very weak.
There is also the pattern of high to high high which gives us around 140 days and we are headed lower from there.
The FED also said that rates are going up for the forseeable future to curb inflation and we know that Bitcoin doesnt like that as it runs like a tech stock now.
Anyway some thoughts for now and we need to find a small rally to get short..
The next few days will be key.
ETHUSD is running the same with a downside target of 650. It was stronger in the last rally and made the 382 @ 1720.
Enjoy the week. 👍👍
GBPNZD - AI & MAJOR LEVEL COMING UPToday Im taking a look at the AI for the next 2 days and how its timing in with major pattern completion levels between 1.8947 - 1.8962.
Patterns completing are a
Gartley from the 15th low.
An ABCD from the 18th high @ 1.8962
A 3 drive completing at 1.8947
Add in the AI @ 2:30 tomorrow morning and this gives us a great set up to buy.
If its at a high coming into the key time then its likely to be an invert and heading lower.
Things lining up nicely. Lets see how it plays out. Enjoy the day. 👍👍👍
SPX500 - Pattern repeating??
Just a simple look at the market repeating. In the Photo I have the TVC:SPX from 2008. In that example we have the market retesting the 200MA before we saw the major selling.
From the High in Oct 2007 until that retest was 221 Days and if we look at where we are today we are sitting at 224 Days and we have just hit the trendline from the top.
Can we go higher?? Yes we can as we still have the 4368 level @ the 61.8% but if we look at 2008 it didnt quite get there as well.
Major point to watch!!!
Just one way of looking at this massive rally.
I hope this helps.. Enjoy the week.
ETHEREUM - 2000 or 700?COINBASE:ETHUSD seems to be in the final stages of this correction.
It mightve already topped out if we look at the Monthly AI or there could be one more high up towards 2000 to complete multiple patterns and the 382 from the April 3 High.
Weekly AI has a High/Low late on the 9th of August. Keep an eye out for this to play out. If we are at a high then we will look for short opportunities and if its a low we will look for longs.
A different look at the market. I hope this helps. Enjoy the week. 👍👍
BITCOIN - Possible Top Saturday??COINBASE:BTCUSD is still edging higher with now real confiction. Im thinking we are coming to the end of this rally.
If we take a look at the AI for this week then we could see this have one more rally into Sat evening or has the high already been made just shy of 25k?
There are a lot of unfinished patterns just above 26k with multiple ABCDs and the 61.8% level from the May 31 high @ 26700.
Some things to watch over the coming days. Enjoy the day. 👍👍
