HERE IS ANOTHER EXAMPLE OF WHY I CALL THIS PATTERN A STAIR CASE OR STAIRS, WHICH ENDS WITH A U SHAPE. THE RATIOS ARE: 23.6-38% RETRACE BETWEEN A STRONG MOVE, THEN A 76 % FIB EXPANSION CONTINUATION OF THE MOVE WHICH THEN GOES INTO A 38% RETRACE. AS ALL TECHNICAL ANALYSIS, THERE ARE A BIT MORE MATHS INVOLVE BUT IT'S MOSTLY EXPERIMENTAL. THE TREND ANGLE FOR...
Let’s glimpse into the basics and do not forget to use these rules. It’s proved - they do work! TRADER’S RULES 1. Always work in the direction of the dominant trend 2. Find the strategy where you are most successful, namely the one that gives the minimum account drawdown 3. Reduce the number and size of transactions in case of losses, and vice versa 4. The main...
I have always studied and monitored price action against Fibo levels and providing the markets trend and do not reverse the myth of Fibonacci works for me... Here is a daily chart showing the recently completed ABCD pattern...A - B boundary completed and a C shallow pullback correction formed. This offered an extension target at the 1.618% (1.24978)...notice how...
TimWest "Buy pullbacks to "0" in CCI (21-day) and then exit on the next move to +100 and +150. I doubt it will get to +200 again right away unless we have a move in VIX to 18-20." With Fed Mtg around the corner and Vix climbing and GLD climbing. Could be solid entry point
End Of Week Observation and Assumption: See notations. This is not a recommendation to buy or sell this instrument. Market holds risk.
My End Of Week analysis and assumptions. See notations. This is not a recommendation to buy or sell this instrument. Market holds risk.
See Notations End of Month/ End of Week summary. --Not a recommendation to buy or sell...market holds risk.
See chart notations.. I'm on the bench, watching for sign of strength. Bulls go shopping when price a dropping.
Very nice confluence with the 1.27 ext measured from C to B leg lining up with 0.786 retracement of X to A. We have good structure resistance dating back to early May '13. Let's see if this pattern can reverse price. ********************************************************** For inquires of education, live trading room, or prop trader funding...
Oil is tanking, but there's still a possibility that USOIL can complete the deep bearish crab pattern as long as price action doesn't violate the C leg. ****************************************************************************** For inquires of education, live trading room, or prop trader funding email epicdaytrading@gmail.com Skype: epicdaytrading PH: +1...
Euro making a comeback on the rally. Price action put in a .786 retracement on the B leg of the X to A measurement which validates a potential Butterfly pattern. If price rejects $1.371 at the 1.27 ext.. We may see a reversal. ****************************************************************************** For inquires of education, live trading room, or prop...
June 23, 2014 Gold has a change in behavior and on the frequency of its new Up Sloping Fork. Price now has to navigate the 1320.00 check point. Potential support 1312.00. Moderate advance target at 1400 area -August 6-12. Keep eye on U$D. Not a recommendation to buy or sell this commodity.......
A Gartley and a Cypher pattern is pointing to the same exact destination for a sell reversal. We have previous structure at $31.31 & $29.38 coupled with confluence with two 1.27 extension ratios. $29.95. and $28.96 at the .786 retracment will be our kill zone. ****************************************************************************** For inquires of...
Two trades could play out here. The shark pattern (blue) being the most probable because of the strong previous structure of support now turned resistance between price $1.0178 at 1.13 fib extension and $1.1854 at .886 retracement. The kill zone would be between those two price levels. Price also recently formed a bat pattern (purple). We might see a pull back...
Powershares is showing signs of potential bearish crab pattern. The PRZ is measured from A to X leg at the 1.618 extension level at price $96.23. Even though there is naked structure around $96.28 kill zone, There is confluence at $96.28 at the 3.618 & 1.618 extension level. This should act as resistance. If this plays out, we should see a good rejection which...
There are 2 really good trades that can play out here. A bearish Cypher (Blue) and a bullish crab (yellow). Currently, price action is in close range of the cypher. If price action can make it's way between $352. 40 at 1.27 extension and $362.18 at .786 retracement kill zone, there is a high probability chance for a reversal. If the cypher plays out and price...
Bullish Bat pattern (orange) has formed and i'm looking for a bounce at the .886 retracement from X to A leg. Price is currently at good structure and historical support as well there is a confluence between the .886 retracement and 2.24 extension which gives highly confirmation of this pattern playing out. This is only a countertrend trade. EURAUD have been...
There's a potential gartley showing up. If C leg can make it up to $92.68-$92.74 we may see reversal in price upon the completion for an intra-day trade. For longer term, price action may trade down to 91.08 to complete a Bat pattern. There's strong structure around $91.42-$91.13. The Bat pattern would make for a perfect retracement back to the trend line, if you...