nmike

nmike Mod

The EURO is near KEY resistance.If the EURO rises above it, it's likely to keep rising within the wedge. As long as the up trend stays intact, the EURO should reach the apex of the wedge approximately near the beginning of 2014 which also coincides with MAJOR resistance.The other scenario is that the EURO fails to rise above key resistance and falls below wedge,...

nmike Mod

Currently the EURO is approaching the top of CLONE B. If it can clear the top of CLONE B the next longer term target is the top of CLONE A.

nmike Mod

Currently Apple is at reference channel top and FISHER is short term over bought. If the FISHER stays above "0", and APPLE can get above today's high, it is likely that Apple will move higher.

nmike Mod

Head and shoulder type pattern, look for price to reach bottom of CLONE channel.

nmike Mod

SLV is in a currently in a downtrend and below the 20MA but still within the long term channel 1 uptrend. If the short term trend continues, look for SLV to hit the bottom of channel 1. If SLV breaks channel 1 that would be bad news for the bulls

nmike Mod

I've drawn a box using the 2 pivots high / low, that's the reference box. I placed 2 exact copies of the original box on top. As you can see the EURO went straight to the top boundary of the cloned box which also happens to be a key resistance. In the reference box the EURO danced around the 50% FIB before the breakout. So if history repeats itself and the trend...

nmike Mod

A rarely see this set-up fail, in any time frame.Candles outside the BB(50) signifies that volatility is in play. After a DIVERGENCE has formed you look for a long tail HAMMER candle stick. For more reliability wait for next candle to close above hammer.The stop is placed at HAMMER low.Take profit at over bought STOCH and or falling TRIX. If STOCH stays above 80...

nmike Mod

The year began with a candle above 50MA, a rising TRIX and a rising STOCH-RSI. From point 1 we had a steady rise of positive candles to the top of BB. At point 2 reversal candles emerged(doji ,spinning top) along with TRIX forming a negative divergence. The green engulfing candle before point 3 was not confirmed by the TRIX or the STOCH-RSI, they were both...

nmike Mod

THE WORDS ON THE SUPPORT and RESISTANCE ARE NOT JUST GUIDELINES FOR TRADING. HAPPY NEW YEAR EVERYONE and thanks to TRADINGVIEW for PROVIDING this FORUM. nmike

nmike Mod

Is the FISCAL CLIFF coming? So far Mr.Chart does not see one. Price has not even gone below the monthly 8MA. We have a normal correction in progress in weekly and daily charts, but the monthly is still in a well defined up trend. Follow the trend not the so called FISCAL EXPERTS

nmike Mod

SPY monthly, weekly and daily main trend is still up.The 240 minute frame is showing a bearish candle stick pattern at top of channel, negative divergence and near the BB50 upper band. Price will most likely test the bottom of channel. This is a simple system good for short term swing trading and to find good entry points for long term holds.. ENTRIES and EXITS :...

nmike Mod

Index finished the week with a SHOOTING STAR below the 20 and 50 MA, this is not good news for the bulls.Currently the INDEX is supported by the 10ma. Break below the 10ma would signal further downside and an official short signal.

nmike Mod

Weekly price action is bearish, below the 10MA and the blue MACD line below mid-point. Currently we are at a minor support level and most likely we may have a short term counter trend rally to trend line resistance or top of reference channel. If support is broken the next target is bottom of reference channel or the .382 FIB. level.

nmike Mod

AVOIDING FALSE BREAK-OUTS. See notes on chart.

nmike Mod

Currently SPY is at 2 resistance points.See notes on chart.

nmike Mod

AUD is bumping up against resistance again. For a breakout to the upside the FISHER has to start moving higher. At the moment the FISHER is signaling low volatility and momentum conditions. The stochastics and candle pattern are pointing to the upside.

nmike Mod

Trend line analysis suggests a near term downside target of $505.75.The mid-point of the BB %R (200) represents the above / below 200MA of price. The advantage of the BB 200 is that it also shows divergences and over bought / oversold conditions. As you can see the NEGATIVE DIVERGENCE warning.

nmike Mod

if current up trend continues and price stays inside reference channel 2 the near term target is the top boundary of reference channel 2. Otherwise just follow the channel boundaries.