csmottola71

csmottola71

I think the Minor correction is completed and we are in a B wave of intermediate level. Typically B waves retrace 38% to 76% of A. The Minor B extended beyond these levels so I would expect the intermediate to fit in this range. However, Minor B was a regular zigzag, so I expect Intermediate B to develop into a more complex structure. We'll see. For now I think...

csmottola71

Some reversal today, however, when all is said and done the market closed closed up 0. something %, so as anticipated previously, nothing dramatic. My concern is with the wave 4 failure. If this count is correct, is an area of strong selling, maybe some continuation of todays afternoon rally may overlap into the night session or early tomorrow. However, the Minor...

csmottola71

Just a wider view from the previously published hourly chart analysis. From here it is clearer how C of Minute 5 equals A from Minor 5 whos completion in turn will equate to A of Intermediate 3. Moral of the story, don't expect any dramatic movements yet, the market will be grinding its way down very slowly.

csmottola71

Almost completed the ABC correction of the Minute wave 5 which should coincide with A of Minor 5. In turn, the completion of the correction from Minor 5, it will be the completion of A from Intermediate 3. So the road is still long. There really is no way of being long or short in this phase, it really depends on your time frame. As for me, i'm trading on the 3...

csmottola71

I've moved my Minor B to a to-be-completed spot. Currently in a minuette wave 5 of minute c of the minor B. The RSI suggests we're topping wave 3 of the minuette c, I'm looking for divergence on the RSI before calling wave 5 of c, preferably remaining under 80 (the RSI). I remain neutral until this sequence is clear. Despite the market moving closer to ATH's, the...

csmottola71 Updated 

Nasdaq appears to still be under pressure in the short term. My wave count suggests Santa won't be coming to town this year.

csmottola71

On the hourly chart, my favorite count has slightly change but with no material difference. My favorite count is that we are in a 3rd wave of C and alternatively in a c of a double zigzag. The first count better with tuesdays gap down open, where 3rd waves generally start with a ripping movement. The only bullish alternative is that yesterday completed a B wave of...

csmottola71 Updated 

I've subdivided the hourly chart of NDQ into a subminute 5 wave structure of a minute abc. Wave 4 has just hit the 38.2 retracement and bounced off. This may be the begining of wave 5 of c of B. A cross below 16040 would suggest wave B is complete and we have started a wave C downwards. MyMACD still in bullish territory.

csmottola71 Updated 

Cotton long signal. As with the USDCAD trade published earlier wait for confirmation by the slow MA

csmottola71 Updated 

Short signal on USDCAD. Confirmation with a close below the slow MA.

csmottola71 Updated 

Nasdaq appears to be in a B wave of 4 of larger degree. It is also in the midst of a post 5th wave correction of minor degree. Depending on where the B wave ends we will be able to place targets for the C wave. For now I am placing a target for B @ parity with A. MyMACD has started curling up indicating at least resistence in this price area.

csmottola71

Long Silver. Proprietory strategy signals a buy on Silver to be exited by 18.00 ET.

csmottola71

Long AUDUSD, position to be closed by 20.15 ET. Signal issued by proprietory trading system.

csmottola71

Ooops ... forgot to tell you ))) Fact is my buy order was never filled, so I wasn't following it.

csmottola71 Updated 

Snap Chat generated a buy signal, just thought it would be worth sharing since support has been held (white dashed line).

csmottola71 Updated 

Short AUDUSD above 0.7489 with target @ 0.7349. Stop or No Trade @0.75555 (plus something). The system hasn't place many trades in 4 years but of 12 shorts, 100% were profitable. The profit target is based on the average winning short trade (1400$ per contract). There has been no drawdown on this trade in the past so the stop is merely the previous high, so may...

csmottola71 Updated 

Short Silver above 24 with stop @ 24.28. Target low 23 area to high 22. If it doesn't bounce above 24 on Monday, let the trade go.

csmottola71 Updated 

Fibonacci relations within the completed double ABC pattern, suggest a larger WXY is unfolding. In this case targets for the Y would be the 0.618, 1.0 or 1.236 extensions. Could be further but not beyond 1.618.