AUDJPY: Forecast good for JPY. Confluence with H4 bollingerbands has reached top bollinger band. expecting price will bounce to middle bollingerband. H4 price is in sideway.
A nice descending triangle with 7 touch points. My backtesting has shown me that often the oscillations get closer as the triangle gets closer to its apex, and we see here that this behaviour is very strong. The key here will be the open of next weeks trading, where we will see whether it will break above the descending line and ruin the triangle or if the market...
High volume pushing price down. RSI cross still giving short signal. Daily TF is bearish and about to touch bearish middle bollinger bands. entry at SD level and at 61.8% fibonacci level.
Volatility in the broader indices has been on the ebb all week. What does this mean for premium selling? Well, it means that the premium in index ETF's like SPY, IWM, QQQ, and DIA is less rich and therefore not as attractive for selling premium. Ordinarily, when this occurs, I turn my attention somewhat away from broad market index ETF plays or plays in...
EURUSD: Possible Head formation. Preparing to sell at top of right shoulder. Entry is at 61.8% fibonacci level which also confluence with long period Ichimoku base line and long period middle bollinger bands line.
Resistance levels are outlined. High probability spx drops after the last leg in the W is formed as we experienced with the last W clearly visable in the chart.
After some signifigant bearish divirgence, the above chart shows several more signals of trend weakness. Uptrend officially over after a lower high on this TF will have formed.
Falling wedge with 6 hits (currently). Looking for a 7th hit and will be watching closely for a breakout on the 8th. The length of this wedge suggest to me that there could be a strong breakout.
RSI Overbought, B%20 over mid, B%50 over mid. Also confluence with 61.8% fibonacci level
Reasons for -We have broken our 4 Hour trend line to the downside -Therefore we have broken structure and i 100% believe that after the break we are headed down -We are going to get a impulse wave and this is a strong setup - after all the long term trend is bearish ! Yes weve had two small losses but we are going to make it back on this one ;) Also this is...
I have posted a bearish trade on this same pair from a descending triangle (see link), the profit target of which is outlined here as the lower green line. If this wedge breaks out at 7 then the other trade will be closed out and I will have to hope for a win on this trade to make up for that loss. If the market hits the support line before the profit is met...
See notes on chart. Works for those who don't have time to watch volatility intraday. Doesn't require tracking contango / backwardation. *edit: prices based on close price of SVXY on the day of the Kagi transition.
Reasons for On the 4 Hour -We have been bearish since the trend line putting in nice big bearish candles -We have broken our counter trend line -We also have nice long wicks on the upside -This shows me there is more selling pressure On the daily -Firstly this is a long term trade -We can see price is down trending on the lower time frames Always go with...
For the last several years US equities have benefited from a liquidity flood that caused a commodity bull. The oil boom / bust is a good example, and you can see from their recent change in correlation, we may be seeing the last weeks of those two assets moving roughly in tandem . The last time the correlation movement was this unstable was 2008/2009 - when...
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.
We can see a descending triangle here with at least 2 nice touch points on both lines. I am looking to follow either of the two paths drawn and to enter in the green area. Profit target is based on previous structure support - there is strong structure levels in the late December 2015/early 2016 area at around 0.6740. Any movement back above the horizontal...
If you know anything about volatility products, you'll know that -- unlike VXX and UVXY, SVXY increases in value as volatility declines (it's an inverse) and suffers from "inverse contango" which ultimately means that, over time, SVXY's value will go to infinity in the absence of backwardation, splits (it's undergone two since inception -- a 2/1 in 2012 and a 2/1...