elyask120

elyask120 Updated 

Hi Guys, I'm really not surprised with the big bullish reversal this morning. It just seems inevitable now every time we start thinking that maybe the market is going to have the much needed correction or just few % pullback. With most leading stocks extended and needing to base and reset, a correction has to be viewed as a good thing right? Obviously not...

elyask120

Hi Guys, I posted yesterday regarding a harmonic pattern on the Nasdaq in a potential strong support area. The index responded to that price point and resulted in a nice move up. Unfortunately I didn't get to trade that as I was asleep at the time it happened. The next area that we may see some selling occur is the one that I've highlighted on the chart and just...

elyask120

Hi Guys, The Nasdaq looks ripe for selling , but patience in waiting for the right sell setups is the key with shorting this market or any market for that matter. There is a Gartley bullish pattern developing on Nasdaq almost complete with almost perfect fib ratios and the entry point coincides with the 1.27 retrace of the most recent daily swing high to the...

elyask120

Hi Guys The Eur NZD is heading into an area of strong support which was used recently for a nice move up. The area has been tested multiple times as both support and resistance previously. If price reaches the same support area we will likely see at least a bounce if not the same sort of move it made previously. There is a crab harmonic pattern with good fib...

elyask120

Hi Guys , Just quick update re the Eur Jpy pair I had posted about earlier. It seems like we may get to test the order block pretty soon. Price is still sitting atop the 5dma , so buyers really forcing this thing up into the order block zone where the bearish bat also has entry level. Price also bounced bottom of the channel and I think we may get little...

elyask120 Updated 

Hi Guys, The Eur Jpy has made a strong move up over the last few days culminating in a double bottom on the daily with a bullish hammer candle on the 50 MA ( orange line and AVWAP from the low (black line). The 20 ma (blue line) was resistance and then support again with another hammer candle on top and price is now over the 5MA , again indicating the strength of...

elyask120

Hi Guys, A potential bearish shark pattern is taking shape and almost at completion/ entry point. Entry level being 88.6 to 1.13 at point D .. I've taken the entry point on the chart as far as the shark pattern will still stay valid...i.e the BD line remaining between 1.618 and 2.24 ( I usually allow +- 0.10 on the fib ratios). Entry point aligns nicely with...

elyask120 Updated 

Hi Guys The Eur Jpy has had a nice move up and is nearing strong resistance which this bat has entry point at

elyask120

Hi Guys, The CAD CHF has faced relentles selling for quite some time now and bears have just kept grinding the price further and further down. It seems that we may have come to a bottom for the time being at least and we may get a reversal. The AUD CHF has also strengthened and the CHF JPY is finally showing some weakness after a massive run up over the last two...

elyask120

Hi Guys, I posted previously regarding the bullish outlook I have on this pair. Currently price is in a pretty strong resistance by the way of three downward sloping trendlines marked on the messy chart, as well as a pullback into the fib golden zone from its most recent swing high. The main black trendline is the one that will lend more weight to a breakout to...

elyask120

Hi guys, A bearish shark harmonic pattern appears to be forming on the Nasdaq 1 hour chart with the entry point, rather range of 88.6 to 1.13 extension ideally located near the upward channel that the Nasdaq has seen selling pressure during this uptrend. Safe Trading all

elyask120

Hi guys, The bullish engulfing candle right at the bottom of the channel zone suggests to me that there are still plenty of dip buyers for the S&P 500. (Ive adjusted the channel zone so it now fits the candle as there wasnt a serious breach red candle close below it) Support in the form of the 20 ma and currently price is on top of the AVWAP from previous...

elyask120 Updated 

Hi Guys, After 3 weeks of inevitable selling pressure the Eur Jpy has returned to the scene of the crime for another showdown. The big M resistance to the left was always going to ensure that bears would take control wheln price arrived there after the big selloff. Price has also formed a wedge that could break either way ( looks more likely to the upside. I...

elyask120 Updated 

Hi guys, not much to go into here. Simple sell at key resistance down to support. Clear stop and TP.

elyask120

Hi Guys, Here we go again. Another attempt at trying to countertrend sell the Nasdaq. This is a lower time frame idea only for a slight retrace into previous resistance or support where I can add long positions. Ive actually opened a sell trade as I wont have time to be in front of the screens for a while. The trend zone that the Nasdaq is currently in has...

elyask120

Hi Guys, The AUD/CHF pair has been in a pretty long downtrend as of late but having had a good look at the weekly and daily chart, this pair is showing some really nice bullish characteristics, indicating a possible strong move to the upside. The three dashed black lines are shaping into a VCP (Volatility Contraction Pattern, coined by Stock Market Wizard Mark...

elyask120 Updated 

Hi Guys. The GBP/NZD pair is approaching a support level that has some nice confluence to warrant a possible long trade. The shaded box it is approaching is the fib golden zone from where the pair bottomed to its recent high. There is previous resistance likely to become support that has not been used yet. 50 day MA ( orange line) is hovering in there and...

elyask120 Updated 

Hi guys a bearish butterfly pattern has completed on the SP 500 chart with entry coinciding with the 1.13 retracement of the index from bear market high to low. Safe trading all