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Tripletop

SP500 TRIPLE TOP, HIDDEN BEARISH DIV LONGER TERM OUTLOOKwhy did we test 2100? your short stops were there and citadel punched them the fuck out. reflexive rebound should be over unless we breakout to the upside for whatever reason. this should mark the beginning of the drawn-out, fundamental sell off. in summation: - hidden bearish divergence - MACD rolling over - bad economic data rolling out slowly but surely (energy junk bonds defaulting at highest rate on record) - REMEMBER: the econ data is the strongest at the END of the business cycle i swing trade levered ETFs on an intermediate time horizon for that daily compounding on the trend. not to say we cant hit 2100 again, but any move above it should be used for de-risking. i'm short when the 12EMA closes under the 36
FX:SPX500Short
by johnrhoekstra
CRUDE OIL TRIPLE TOPFirst and foremost one should know I am very bearish on oil, as it has paid tremendously the past year to be on the short side. But a true bear should know when to prey and when to hibernate. At this moment I consider myself in hibernation. I am looking to sit out until June of this year before I initiate my big short on crude. So far my analysis has been inaccurate and predictions have been in accurate the past 2 months. I will admit this. But when I put my bias aside and actually listen to my chart as well as my technical analysis, I can admit to myself that oil has more room to run. Most bears wont admit this, but I will admit crude has room to run but one must take the good and bad with this. The GOOD in this is that the more oil runs up the more green in our pockets when it meets its maker. One chart is not sufficient so i tend to make several charts. In this chart here we have a clean triple top. Previous triple top was formed July 29th 2015 and triple topped in oct 9th 2015. The most recent triple top was formed dec 15 2015 and triple topped today march 17th 2016. in each of these triple tops it took exactly three months to form. COINCIDENCE? I DON'T THINK SO!. Does this mean we should initiate a short? well not necessarily maybe if your'e scalping yes. We should deff be pulling back before taking one last swim up before JUNE.
NYMEX:CLJ2016Short
by bouadvisors
GOOGL Bear Pennant FormationAfter forming a triple top at the upper trendline GOOGL went on a quick move to the downside and could now be consolidating before a further move. With the divergences present and candlesticks showing high amounts of selling pressure its possible that it will continue to the downside. The lower horizontal lines are levels of support to keep and eye out for or possibly take some profits. If it does form a pattern similar to what I have outlined then the profit target could be determined by the height of the pole portion of the pattern. It just depends on how everything plays out. I'll be keeping an eye on this one and updating it as it plays out.
NASDAQ:GOOGL
by chasel1
EURJPY: Bearish Bat Pattern Into 2618/Kiss of Death TradeJust broke this pair down in my Live Trading Room. After looking at the LLLC of the triple top highs, our traders were gearing up for a potential 2618/Kiss of Death trading opportunity. As we dug a little deeper into things we noticed that if we got the retracement back into previous structure then that 2618/KOD would be bet with a bearish bat which could be used as an entry reason. If price action goes the opposite direction (or retraces and then makes a bearish dive) we also have 2 more advanced pattern waiting for us lower. A bullish Cypher and Bat pattern
Short
by Akil_Stokes
3
4h Triple Top & DivergencesThere is noticeable difference between a BITFINEX and a BITSTAMP 4h chart. Bitfinex: triple top is flat wave 1 does not overlap wave 4 (blending the 2 exchanges price does not overlap therefore, I consider this a valid 5 wave count) see user chessnut's 4h BITSTAMP chart linked in related ideas below Divergences on RSI and Stochastic suggests the bullish outlook has weakened while prices moved sideways on the 4 hour chart MACD divergence shows momentum has weakened from wave 3 to 5. Another short-term bearish signal.
BITFINEX:BTCUSDShort
by Kappy