There seems to be some calming down of this and flattening of the downtrend. Big vol spikes on up movements in price over the last 4 months, and the volatility is subsiding. This looks like it could be a double bottom, I put my stop entry price at 1.61 because the last breakout failed and it was 7c higher than the previous high, so 1.61 is 10c higher than the...
As of now technicals are confirming a potential ab=cd that could be formed in NBG over the next few days if the bottom support range of 1~1.23 held providing an excellent 3.88 risk reward. Some upcoming catalyst: -Greece reform plans (April 8~9) -NBG quarterly earnings. 4/2/2015? I think it is quite unlikely that Greece will be leaving Eurozone (yet). Even if...
Sometimes knowing the general direction of fundamentals will be more than enough in trading, the charts says everything of what the market intended. News are just meant for distribution of expensive stocks to the average joe. Had a pretty good trade from this :)
My Elliott Count for the Greece ETF is looking ready for an upcoming bull run. I count us near the end of a wave ii, in an extended wave 3. As all us EW chartists know, this is an ideal spot for entering long, or buying call options. However, Here is a BEARISH scenario, where A=C and we are just starting the wave down.... This appears to be in sync with the...
NBG Long term Chart: I strongly believe we are currently in a corrective wave 2 of a long term wave C pattern that should complete near the fall, end of the year. What I previously thought was an expanding diagonal () now appears to be a double zig zag corrective wave 2. If A=C in the corrective zig zag, then we can retrace as far as 2.95, but using...
Now might be the perfect time to buy to enter right before the strong bullish wave 3. It looks like wave 2 has developed into an expanding diagonal. Here is a zoomed out version of where we are on the longer term: Here is an example of an expanding diagonal: www.wavetrack.com