The Russell 2000 has seen strong moves to the downside, as market participants wonder whether or not there is a market top in place (regardless of what CNBC says), Price action is in an important place, resting on an ascending trend line created in mid-June. A break (with a retest and rejection of new resistance/former support is best) would iniate a short...
Elliott Wave Principle is a 'theory' based on a line chart. Sometimes I forget about that. Yellen, Scottish vote, option expiration , $BABA IPO - this week will give us a hard time yet. thepatternsite.com
Yesterday, price reversed and sellers managed to fill partly morning gap up. It feels a bit messy, as we are still in this slow trending up environment. But still we can approach to our markets with plan and levels to be prepared to different scenarios. So, pivot resistance is $198.10 close to previous top. After SPY broke up 2014 consolidation it entered into...
On my analysis yesterday, I have reminded the importance of the 3rd candle. If the 3rd candle was crossing the Kumo cloud , we can consider that the reversal trend is almost done. Just as a reminder. 1st signal. Tenkan Kijun twist. 2nd Signal. Candle 1 and 2's effort to penetrate the Kumo CLoud. 3rd signal the lagging span which has penetrated the cloud the...
Some FOREX pairs's future are really in between the lips of CB's President either ECB for EURUSD or FED and Yellen for USDJPY. Having said that, the future of USDJPY is in the lips of Yellen. there might be a technical correction on the pair in favor or JPY towards 101.5 or even a little bit bellow, but on a long run, particularly of FED increases its interest...