HarryTr

HarryTr

Update from last trade Position closed at 1.1145 Opened swing trade for a long position at 1.1150 Price target at 1.120 Indicators: Trend reversal (bull flag) Risk/reward 4.33

HarryTr

JPY bounced back hard on Fib 0.786 level which effectively formed the support trendline for a larger symmetric triangle. The first three circles show a significant bounce back in price moment with a set of green candles pushing the price higher. The latest circle (right) is repeating its pattern which is now also supported by the bottom trend line. The latest...

HarryTr

There seems to be an early formation of H&S to set for a potential strong bounce back of AUD/USD Macro factors that set AUD to fall previously: AUD has remained very weak against the USD due to economic rally in the US (higher FFR) as opposed to falling inflation rate and weakening of the housing market. Therefore, there is an expectation of RBA cutting rate in...

HarryTr

The market was overbought between April 25th - May 1st within a downtrend daily chart. This overshot the price above the trend line (blue) so this can indicate a bull trap and market might encounter sell off in the next move. Bearish signals Red circle shows a strong bearish engulfing pattern with a significant lower low. Short term support-resistant is within...

HarryTr

Tough economic conditions in the Euro Zone despite the soften recent bounce back from Q1 and Brexit Chaos have put a lot of downward pressure momentum on the Euro which is reflected by the over trend on the Daily timeframe. On the 1 hour chart, bearish signals show up by - Bearish flag at the 5th EW - Three Black Cros breaking the 0.618 level - Death Cross of...

HarryTr

Let's wrap up some recent market news - 31st day of US Government Shutdown - Nowhere ended Trade Talks between China and the US - Rising of Brexit no deal withdrawal - Chinese Economic Slowdown with huge debt - Further economic weakening in Italy and some concerns over Germany Exports All these systematic factors can really set the stock market to a nastier...

HarryTr

While uncertainties are still hitting the market hard. Corporate earnings show some sign of worries and Trade Talks are not really going anywhere for the US and China. Buying volume seems to drain out of Tesla. MACD and Chart show a bearish divergence. This is quite similar to the price action between April and Aug 18. RSI is also weakening corresponding to...

HarryTr

Looking back at Weekly chart, I identified some interesting patterns (details on the charts) Calculating the gain ratio back in the last major bull run in 2014, I got BTC at a fair value of 2800 to 1150. Below 1150 means it will break all the rules of EW and Fib fundamentals. BTC would really have gone to its death. But for now, I don't see any major push back...

HarryTr

NFLX is seen to continue to make its lower low and lower high since the H&S. There is no certain signs indicating the downtrend nearly ends. In fact, a leading diagonal in a bear market is forming quite clear. This bearish leading diagonal can be ended in the 5th wave at $245 before heading back from A to B (Purple) for a short term rally. Check out my linked...

HarryTr

This is a potential scenario apart from the previous TA on TSLA for how the 5th wave would end based on the Ending Diagonal Pattern In the previous TA, I predicted the share price might hit above $359 in the 5th wave, but over the last few days, the market seems to form an ending diagonal on the 5th wave. This means the 5th wave might end at a lower price point....

HarryTr Updated 

The market has been tough for AMZN since its recent earnings report. The stock fell off the cliff by more than 25% retracement since its peak. The price fall has been worsened by the US market sell offs. AMZN stock price has broken the first support level at 0.618 and reached 0.781. This is a strong support level which is also supported by Bollinger Bands and...

HarryTr

Tesla has been very bullish after the recent earnings report and left behind other stocks struggling with the market sell offs. However, it seems pretty clear that Tesla is pretty approaching its 5th wave ending sometime soon in the next few days. The chart shows solid evidence the 5th wave range on the 1h timeframe. Late buyers might push up the price between...

HarryTr

Previous grand market cycle for SPY is 3 year and the index fell at 14.99% until it rebounced to the current stage. Similarly, the current SPY correction might be showing a similar pattern to the previous one based on Trendline, Fib - Elliott Wave counts. In one month since Sept, SPY has fell 9% from it previous peak. If a similar market correction applied, it...

HarryTr Updated 

A nasty H&S pattern is in place after the recent market sell-offs. From the fundamental perspectives, the mature's market in streaming services has become tightened. A decrease in Q3 Earnings might be a trigger for the stock correction. Short at risk Target at the baseline around $285 then rally. OBV and MACD show a weakening pattern in volume and price action...

HarryTr

As I mentioned a few days ago, there could be a bearish outlook on BTC at which we might hit 4400-ish. Today I am going to break it down in details. Before going into that, this is a speculative outlook towards the bearish scenario, so I am wearing a bearish cap on me which means things in play can be biased. This should not be considered as it will turn out like...

HarryTr

I will keep it short and sweet. All the confirmation signals to determine whether it's now in the bull run or we are still lost in the wood. In brief, thanks to the pump last night, things are looking kinda positive again after more than 3 weeks of the red sea in the crypto space There are indeed bullish signals on multiple independent indicators including RSI,...

HarryTr

As in the previous TA, I mentioned WXY correction at 0.786 Fib level. We have now reached the support level. However, the market still looks very bearish and volume is pretty low. We still need to wait for other confirmation sign from 55 and 8 EMA, OBV and MACD to consolidate the bullish scenario. At the moment, EMAs are getting very close and MACD indicator is...

HarryTr

I would like to give a quick update on BTC and its predicted bull run in June/July BTC WXY correction is heading toward the golden ratio 0.618 and 0.786. It is hard to predict where the correction will end between this range. Buying momentum will increase as it approaches 0.618 and rally weakly then BTC could fall to 0.786. Time will tell. However, overall this...