We may see a support line at 1900~ but if it goes through we could be in for a ride and a correction of atleast -10%
Tight SL (+ATH) Target 1900 Target 2 sub 1900-1850
Following the trend since mid july. OMX has now hit it's ATH while simultaneously hitting top of the long trend. This suggests going short for 2 weeks. Any thoughts?
Navigating for a potential ABC correction phase over the next days/weeks before heading north in the fall? Looking at today's close followed by tomorrow for a potential bearish reversal pattern.
Time for C wave in world index!
The price has moved into the 1630 zone where I'm looking for a potential cool-down.
OMXS30 might have some percent upside, but the market is starting to show weakness. This recession is just starting. Here is a shorting idea.
Index is up almost 23% since the bottom bounce a few weeks ago, and it's still below Fib 50% (1580) and EMA50 which, in my view, is still negative although we are trending above EMA20 - possibly positive in the long term. On 20 April, OMX formed a hanging man that was confirmed with another red close on 21 April. As long as we don't make a new high, I'm looking...
Sellers took back control after a strong start of the week, resulting in a long week candlestick tail that signals uncertainty among the buyers (however with a lower volume than previous candles). I'll be looking at the 1400-1360 level and a break would mean a revisit of the previous bottom at 1260. If the price would break the previous range high, I'm expecting a...
As expected, OMX30 made a lower low followed by an attempt up toward 1500 (Fib 50%) and failed. Still negative around the 1300 level and am expecting a drop to 1250-1200 before we see a strong reversal pattern.
Looking for a light bounce up to Fib 38-50% before heading south for the last leg before building a bottom. Looking to build a short position but remain neutral for 1-2 days.
In the last week there have been very large movements on the world indices. It seems the larger waves are coming in more quickly than expected. Currently looking for a flat ABC and hop to trade the C wave. After C is complete and does not break 1700 we should be good to go another 15-20% to reach C5.
Short timeframe Looking to complete ABC pullback for larger wave 4 that should stay above ~1700. If the C does not gap down it should be tradable. Intermediate timeframe After larger wave 4 is completed I'm preparing to be bullish and look to build aggressive long positions. Longer timeframe After C5 is completed, a larger pullback is expected. Planning to move...
This is my thoughts. We have reached an historic high and a recoil is natural. Now with the corona virus spreading worries OMX has landed at a in my opinion natural level. What worries me is if we are to break the mid term trend. If that happens we will have a consolidation period that rapidly ends up in a "crash" down to former levels. This can we take...
Short OMX30 @ 1,893; TP @ 1,850, SL your choice