kjmb1

kjmb1

50% increase could be in play once price breaks out

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Heading to a strong demand line, which would complete wave C of correction - then we'll resume the recent uptrend

kjmb1

Simple support / resistance; price currently in a rising wedge with OBV & RSI under resistance. Earnings being released after close of trading today....potentially profitable trade for the brave!

kjmb1 Updated 

A huge dip today on USOIL has given a great opportunity to enter a long position with targets at $59.21 and $62.65. It seems like we're coming to the end of the correction from the February low of $26; and we've completed all but the end of wave C (4 out of 5 waves) - with the dip showing 2 out of the 3 waves of wave 5 have run their course. The move downwards...

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Price action has shown promise for XAUUSD since December 2016 where it found a local bottom at ~$1125; since then we've seen a substantial bounce breaking a resistance that has been pushing the price down since July 2016. A clean break of this resistance gives evidence we're completing (wave C of) wave B, after a complex A wave from 1800. Alongside this the...

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After a turbulent few weeks for bitcoin, we are still pulling back from the aggressive bull rally at the end of last year. After a >30% drop in Chinese exchanges and the subsequent curbs on margin trading in China, we've seen a nice bounce which looks to be nearing due to the exhausting volume . Approaching a strong resistance, this could mark the end of wave B...

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Many analysts have given Shire a buy/strong buy rating, "Seventeen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock." Elliott Waves shows 3 major impulsive waves amounting to the high of around £58 in August 2015. The decline after bounced off the trendline at £34.36 completing...

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BTG has been pulling back from its high at the strike of 2015. A full wave A and wave B have played out and we're now completing, what seems to be, wave C. Having completed 3 of the 5 waves - the prices could well bounce back up to the broken trendline at around £5.90 before falling to the previous low at £5.00, where a strong support lies. Low volume has broken...

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Reckitt Benckiser has been in a strong uptrend since it's IPO. We've seen a retrace over the last 6 months - most likely due to post-brexit financial climate and its effect on the sterling. The price action shows a completed wave C on the retrace. This could be the retrace in its entirety or the completed wave A within a larger pull back. With this in mind,...

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The Sterling has begun to strengthen and the ruble appears to be a reasonable pairing to illustrate the pound's strength. The RSI has broken out; and the AO is turning up. On a break of the falling wedge a long position will be entered, with stops under the support at 75. TP 1: 92 TP 2: 97 TP 3: 103 Happy Trading!

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A look at TSLA fundamentals shows light at the end of the tunnel. TSLA published its first ever profit on Wednesday increasing the stock price by just under $10. The technicals display a strong support around $190-$195. After 18 months of correction from the late 2014 high of $285; there was a strong bounce off the 0.5 fib to the resistance level at $265. The...

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Crude Oil has been performing well over the 2016; and it seems like the rise will continue. Eyes are on $55 for the 1st target; just under $60 for target 2; and just under $70 for target 3. The wave has printed some nice supports and it seems like it has been unaffected by the recent strength of the dollar. We're either correcting from the last huge downward...

kjmb1 Updated 

Gold cemented a bottom price of 1045 at the end of last year, and since has made considerable gains - reaching 1375 earlier in the month. From the rise over the past few months, Elliott Wave would dictate that we're in an impulsive wave 3. I have an initial target of just under 1500 before November this year however either wave could be extended and hit higher...

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US Dollar has been range bound for quite some time. The start of 2016 marked its highest point at just above 12300 and subsequently saw a pullback (Wave A) to 11670 during May. The bounce (Wave B) certified the strong support below, and we're completing a rise to above 12100. The rising price has not been reflected in the volume - as we can see on the OBV. A...

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On Thursday 23rd June 2016 the UK will vote in an EU referendum. Regardless of the decisions, there will be a reactionary shock to UK markets; including the FTSE1.19% 100. Leaving the EU could cause the market correction from the Spring 2015 high to extend until the end of 2016; however if we remain in the EU, there could be enough confidence to bounce on the...

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Based on BTC's strength and ETHXBT's corrective pattern, a downward move looks likely to continue. However a small bounce on the support may force the pair to the 0.0245 resistance. Rejection here may paint a head and shoulders, and a break of the supportive neckline could cause a cascade towards the eventual target of 0.0135, completing the correction. Happy trading.

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Bitcoin notoriously enjoys a triangle. Technical analysis anticipates a final leg of this 5 wave triangle pattern; after which yearly highs are possible, which would coincide nicely with the BTC halving. Happy trading!

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APPL has had a tough week so far however the fundamentally strong company is hitting a support around $93. Seems worth keeping an eye out for a buying opportunity on a potential strong bounce: signalling the end of the correction.