Weird looking inverted head and shoulders implying a test of the previous high, if neckline is broken. The more likely scenario is the lower target determined by measuring the triple bottom created, if one does not look at the long wick on silver. That's if silver breaks up another few % above this resistance to confirm the measured move into the new trading...
Just looking at another dumb Fibonacci extension that I see popping up everywhere.
I am working on finding the next retracement from the assumed 3100 top 1.618 target from creation of the S&P with a bottom in 2009.
Probably dumb late night stuff.
Dollar crashing, Trump risk, more-so US debt may be downgraded + crypto failing expectations.
An actual clean head and shoulders on WTI... it looks like hedge fund money and its traders have gotten into this commodity after all. The $57.50 neckline was broken and later the pullback tested and held, which means that support became resistance. The measure of the initial target is $56.00 which another large support at $56.60, but I haven't marked that....
Thought it was weird when I was doing the math on Elliot wave ratios for this that some of the points matched up with trend lines set now.
AMD was trading between pennies and $10.00 a share and has recently broken into the 10+ range on an increase in volume around double what is normal, which is convincing. A breakthrough from one trading range into the next implies a test of the top of the new range, or measured more, at 20. There was a rejection at the halfway mark in the range at $15.00 too,...
As you can see, all data was removed from Etherium history starting from one month ago. At this rate who knows where it will go. I'm short because you don't need to buy back a stock for somebody to cover your short position if data bars aren't available for it. I say good day to you sir.
There are three possibilities for the Eia report tomorrow: 1. There is the expected 6million draws in both crude and distillates respectively, without a large crude build, I would expect testing 54, just shy of the high for the year, maybe 53.74. 2. Most likely scenario: there are the draws mentioned above, but a surprise crude build of 12million estimated on...
I read a bunch of articles stating that oil was going to hit $44.00 a few weeks ago, before the Irma/refiner rally this week. I wonder if following news articles in order would be an effective way to trade. For example, when $49.00 was broken upwards this week, I saw all over twitter that $60.00 was finally in range. However, that didn't really make sense because...
Just continuing the short idea, looking for re-entry sometime tomorrow- higher than 47.
There was a very bullish inventory report that did not break $49.00, nor was it able to stay above too convincingly today (Thursday). This idea is premature because there is no candle to imply a downtrend, so it would be smart to keep a small lot size until there is a red candle below $49.00.
I see a couple ways of looking at this. We now have a lower high 54vs 54.38 and a lower low 52.3 vs 52.55. I think that finally means the bear trend is being confirmed for more people. I normally look at simple retraces and price targets. Those imply 50% of the last move targeting 49, which was my original plan. I am also starting to look at other patterns like...
There's a lot of enthusiasm in the market right now. I think that could cause a pop up out of this cyan channel. However, there's still a lot of uncertainty within the new administration and weakness in the economy. If everything remains stable, I would expect and breakout to be faded back to the red line. Basically, I'm shedding longs around 230 if possible and...
I circled the two gap ups we had recently in yellow. The second one is harder to see, but it originally looked like an exhaustion gap. However, we're in a weird gray zone right now at 53, but I think if an hour candle closes above $53.3 then there will be a quick move to 44, before being quickly rejected. I think this would have to happen tomorrow before API...