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S/R

AAPL TO 85? BEARISH SCENARIO DEVELOPINGAAPL has been suffering these past years to make highs and keep afloat, performing sub par compared to the rest of the market. We should keep an eye out for AAPL breaking supports, because if it does, a case for new lows may be made. On the lower time frame, a minor trendline has been broken, rejected, and closed under, and we are currently between the strong levels 96.75 and 100.70. After successful retest of 96.75, AAPL lost momentum, and is currenly facing a possible double top on the hourly time frame. If 98.1 is lost, i will short and we should reach 96.75 again. If price speeds past this area, then look for strong selling down to 95.6 area, where we should bounce back and retest 96.75 from below. if this fails, 88.15 and 84.85 are supports that may be reached. On the flip side, if price pops over 100.75 and holds, I will look long, as it will retest resistance of 103 and most likely go for gap fill to 104.75 Let me know what you think
NASDAQ:AAPLShort
by buff22
GBPAUD Long: Breakout to New Monthly PivotGBPAUD has broken a bearish trendline and could possibly reach its new monthly pivot for February, 2016. This is a simple mean reversion trade based on structural S/R and a trendline breakout. Support may be found at the 200SMA and 200EMA lines in addition to S/R from structural lows. The short-term bullish trendline may also add support should price reach those levels. Entry is placed at the retest of the bearish trendline with SL below structural lows and target at the new monthly pivot.
Long
by glennmercer
1
Long SUNE: Entry at Thrust Target Through Completion of (iv)On the daily TF, we are in the midst of the fifth and final wave of an expanding ending diagonal, counted as C of an ABC zig-zag correction. The monster buying opportunity will be at the completion of this C wave, however, we may be presented with a short term long opportunity with a R/R of 8.5. The current count is wave-b-of-(c) in a potential flat correction which may complete the fourth wave corrective structure in the last leg of the ending diagonal of C. The triangle thrust is confluent with AB=.618CD and is supported by wave-iii low, so a tight stop is not unreasonable here. There will be two targets, one at (a)=(c), which is conservative, and another at the more aggressive yet probable fourth wave terminus at (a)=1.5(c) in previous fourth wave territory. If the trade triggers and travels to target, I will not be taking a short position but instead will wait for C to complete for a long term buy-and-hold.
SLong
by glennmercer
1
GBPNZD Wave Count: Bull Bat ABC Continuation to Gartley TargetOn the daily time frame, price has been rejected at the PRZ of two larger harmonic bullish patterns (Bat + Gartley). The rejection was swift with a 5 wave bullish impulse, followed by a triangle correction and another small impulse to complete a 3 wave pattern (labeled here as (A) of a possible zig-zag correction). Now we are nearing the completion of a bullish bat pattern near previous corrective wave support (B in this case). The bat PRZ may also be supported by the weekly pivot and the 200 period moving average. The (A)=(B) level is confluent with .618CD on the higher TF patterns, so we may see these higher TF patterns meet their targets with this ABC zig-zag correction. With entry at the bat PRZ, SL placement at 1.13XA and target taken at the confluent target level, this is a low risk high reward trade with a R/R of 8.14. Confluence in the PRZ: Bullish Bat (1D TF) Bullish Gartley (1D TF) Bullish Bat (1HR TF) Previous corrective wave support 200MA support EW Count suggests upcoming bullish impulse .618CD & (A)=(B) target confluence Weekly pivot support Structural S/R Zone
Long
by glennmercer
2
USDCAD Short: Bearish Gartley in S/R ZoneUSDCAD is nearing the completion of a bearish Gartley pattern. The PRZ falls inside of a significant S/R zone, adding to the probability of a reversal at those levels. With a potential upcoming rebound in oil this could provide a nice entry for a larger bearish move toward the missed pivots sitting below price (see related ideas). This would of course depend on price action at the target if TP is achieved. Entry is placed at .786XA with SL above X and target at .618CD. Confluence in the PRZ: .786XA (Gartley completion) 1.272BC Projection AB=CD S/R Zone Many missed pivots below price Potential long setup in USOIL
Short
by glennmercer
Long AUDUSD: 2 Cyphers + Crab + TCT + EMA/SMA Support + PivotsAUDUSD is nearing the PRZ of 3 harmonic patterns presenting us with an opportunity to trade in the direction of the trend. The base of the PRZ coincides precisely with last week's missed pivot in addition to a fib cluster from a series of structure lows to structure highs. The 500 bar SMA and EMA lines may provide added support around the reversal zone. To add to bullish bias, the new weekly pivot will be printed near the .618CD retracement and may help to pull price up toward target. Entry is placed at the base of the PRZ with target at .618CD and SL below structure lows. This trade yields a risk to reward ratio of 2. Confluence in the PRZ: 2 Bullish Cypher Patterns Bullish Crab Pattern 500SMA Support 500EMA Support Underlying Bullish Trend New weekly pivot above price Entry confluent with missed weekly pivot S/R Zone Fib cluster centered in PRZ If this long position is successful, the next level I will be focusing on is .74:
Long
by glennmercer
10
Long ACRX: Bullish Bat at Trendline SupportACRX is nearing the completion of a bullish bat pattern on the daily chart. The PRZ falls in a significant support zone and may be confluent with support from a 3-month trendline. 3 Missed weekly pivots sit above price to add to the bullish bias. Entry is placed at the bottom of the PRZ with target at .618CD and SL below the 1.13XA fib level. Confluence in the PRZ: Bullish bat pattern completion 4BC projection AB=CD 3 month trendline support Missed weekly pivots above price S/R Zone
ALong
by glennmercer