Weekly chart indicates UK100 in a bearish trend setting lower and lower highs. RSI and CCI show overbought market which means that bearish trend is going to continue for at least few more weeks. Stoch RSI is at 96.47/98.08 which is a clear sign of over-bought market. Given the fact that Goldman Sachs increased its recession expectations from 20% to 30%, one...
After Fridays candle close (Bullish engulfing off key support) and heavy rejection on weekly candle. We are set up for a retracement to Supply level highlighted before our next possible move down. Target: 2000 level SL: 1800 level
The reason why we feel DJIA may Rise. * On weekly basis it has started moving up * To Rise and come near 17287, 17418 levels . * Stoch RSI (3,3,14,Close) is Rising. * RSI (14,CLOSE) is Rising. * CCI (20,CLOSE) is Rising. Keeping all the above indicators in view along with the chart pattern we expect it to Rise. Our Buy call shall be from Buy above :17151,...
Gartley (blue triangles) has completed with profit targets as indicated by the green lines. This could potentially run into a completion of a cypher pattern . Sell the Ibovespa now, and if it reaches there, buy at 40,000.
DJIA is expected to rise. There are many reason why we feel it may RISE 01. It is trying to touch Monthly Risk buy level of 16719. 02. BULLISH ENGULFING in WEEKLY Chart. 03. To RISE and come near 16597. 04. Stoch RSI (3,3,14,Close) clearly states it may RISE. 05. RSI(14,CLOSE) Is also of the same view. 06. CCI(20,CLOSE) Is of the same view. Keeping all...
DJI is expected to RISE now. There are many reason why we feel it may RISE. 01. It is taking support at quarterly levels trying for a big jump. 02. Bullish engulfing in daily Chart. 03. May reach weekly target 16326 04. Stoch RSI (3,3,14,Close) states it may rise. 05. RSI(14,CLOSE) Is also of the same view. 06. CCI(20,CLOSE) Is also rising. Keeping all the...
Approaching the apex of the symmetrical triangle drawn here. I am hoping for a break out to the downside at point 7. I would then expect a pullback at previous structure, and then have a main profit target at strong levels of previous structure. The upward break at point 6 is also potential for a small trade.
As shown in the chart
There is a difference of 91 bars between the 2000 - 2007 tops in the SPX and if we measure the time distance between the 2007 - 2015 (2134 high) we get 91 bars again! Interesting,huh? Furthermore, if we take a reverse fib from the 2007-2009 bear market we see that the 161.8% Fib prints a reading of 2094. Interesting price and time relationships in the SPX.
I am still holding the contracting triangle wave 4 count as my primary count on the SPX until 1867 gives way. If 1867 breaks, then Wave D on the chart around 2116 is a truncated wave 5 and we will be heading much lower. All eyes on 1867!
I've paused trading the DAX but can't help [ but notice it's price action on this rising trendline on the daily chart. Break below this and things will surely get interesting. At the end/top we have this triangle pattern.
Long term long still open but will scalp futures in the process.
As per Elliott wave rules and above count we are in blue wave iii of green wave Y. Green wave X start @ 1583 and formed zigzag in in three sub-wave red ABC which finish at 3602 placing Long Term Top there. The ideal target green wave Y is near 700-750 area or even lower where we will expect strong support and long term buyers enter the market to push up beyond...
Banknifty opened below the congestion zone range of 17880-17740. This provided the entry point for the short trade. Could only enter the trades around 17700 range. downside targets are about 17570 and 17440 levels. Rest can be trailed.
The $ES is in a tricky spot. Major resistance is above but is also butting up against a hidden resistance area now. It will take some serious buying to get us up to the watch areas. This is not a sell area for us however it is in the $NQ (see post). For now we will keep the $ES on the radar.
The potential bear flag did not form as price shot up and finished the week strong. The $NQ is now at the major breakdown level. While we expect volatility to continue it does need a rest. We like a move back down this week. We are still long term bearish on this market and will keep an eye on the watch zone. A break down of the level could send us to the...