MadButcherWA

MadButcherWA

Fat candles are a good indicator of a change in direction. Especially when you see them after a period of flat trading. The flat trading can mean accumulation of big holders on before a pop, or it can mean an unexpected news drop. Fundamentals aren't my thing, But I can see that we have a very long term down trend that has rejected a change many times. The fat...

MadButcherWA

I cant pick exactly what this pattern is. I thought it was a triple bottom at first, but triple bottoms don't slope down like that. The broadening Wedge could fit it, but it doesn't meet the bottom trend line before an attack on the upper, plus there is a volume spike at the front of the pattern? It could be a simple double bottom but I feel there is a lot more...

MadButcherWA Updated 

There is a trendline that stretches back to the beginning of time on this chart and the stock marches forward. It appears though that a top may have been reached. However, I'm not yet convince. We have two conflicting patterns here. A double top that indicates a fairly savage drop. Or a pennant which makes up the second peak that indicates a resumption. Of trend....

MadButcherWA

“Hmmm, whats corn up to?” Glad you asked. Looks like harvest is upon us. All commodities are cyclical, and agricultural commodities are seasonally cyclical. The red cycle lines go back to when Noah came off the ark and so you could almost set this to your clock. Now I’m not about to speculate what market conditions cause the price to normally rise in corn; go ask...

MadButcherWA Updated 

After a long downtrend it looks like PSC has had some breakout on the fundamental side (lord knows what, I don't have time for that stuff) and the price has popped. Given this massive spinning top candle I think the price is going to consolidate here for a bit and form a pennant or a congestion zone as the price returns to the 200 MA and the peak line of the...

MadButcherWA

I've been watching that triangle fill out for years now. Maybe that grey trendline is the prevailing trade direction, but there is every chance this break could fail like it has previously and return to fill out the triangle further. Time will tell.

MadButcherWA Updated 

I can’t remember if it was here or somewhere else that I posted golds breakout, but in any case, it looks like the longer overall breakout is continuing. At the moment I think we’re in a wave 4 consolidation at the moment that will last till about December this year. At which point we’re looking at a push to the resistance level of the previous high made. Not the...

MadButcherWA Updated 

We have a repeating set of triangles that have moved into a broader triangle. Each of the triangles are roughly the same length and the move as the first ended is very sudden. If this is a repeating pattern we will be looking for a spike in volume as the move begins. The move should begin either in the next candle or the one thereafter, afterwards I would begin to...

MadButcherWA

I was actually pretty bulish about this when I first looked at it, but once I realised its financial management I remembered the golden rule. If the US 5 year goes up, the Aussie share market goes up. And here we go. You can see overlayed the US 5 Year bond yield follows the price action pretty closely ( other way round, lol). The correlation drops off in August...

MadButcherWA Updated 

PRU has just finished a minor correction wave and a major wave 2. Price Action has caught up at the 50 daily MA but still looks to have a good deal of strength to be able to cross it. Looking back at wave 1 the move is playing out similarly where it was at about halfway point of the move that after a stall the price jumped. I’m not tipping a price jump here, but...

MadButcherWA

This is a relatively simple trade. Because of the length of that triangle It would be a fairly safe trade to ride this breakout to the top of the triangle peak which will give a nice line of resistance that we can use for a target. This is a gold miner so we can follow the gold price to ensure that we dont get a fakeout and watch this thing whip back down past the...

MadButcherWA Updated 

Pitchforks are handy for predicting future trend directions. The longer term has been directed by that big upward facing pitchfork over the last few years, but I have a feeling once this upper resistance level is hitexpect to see some serious headwinds. Aussie bond yields are dropping like rocks at the moment and the currency is failing against all peers. Plus...

MadButcherWA Updated 

I just spotted this one on today’s trading. Is this a bullish flag breaking out here? If it is, the top of the flag, 1330-1340 (depending on how you call that candle at the top of the flag) is the point you should keep an eye on.

MadButcherWA Updated 

BTC has bitten me a few times over the last few months, and so it is with a bit of trepidation that I present another trade on bitcoin. Although rather than just a gut feeling which could have been bad chicken enchiladas I'm basing this off the strength in Litecoin. Full disclosure, I'm a mega bull on both bitcoin and litecoin long term, but I don't think they can...

MadButcherWA Updated 

From everything I’ve read over the years commonwealth bank has been a widow maker for many traders looking to short. I almost bought some $65 put options earlier this year which would have expired in October. Lucky me! Any way, looks like this may finally be it. To me it looks like a big tripple top has been out in here. With the real estate market in Australia...

MadButcherWA Updated 

Cycle lines are one of my favourite things. Not only can you get an indication of potential price, but there is also possibly the more critical factor of getting your timing right. This is a chart that I had done long ago and I found it while trawling through an old watchlist. As such, the lines on here are for a arithmetic chart, not a log chart as shown. I work...

MadButcherWA Updated 

Some times the slow moving obvious trades are the most profitable. BHP has been in an up trend for a good few years now and now it’s hit a resistance level. If it cracks it, a 20% appreciation to $46 isn’t unreasonable. Otherwise a drop to $36 is likely.

MadButcherWA

The big trade everyone is talking about at the moment is the AUDCAD but I think this could be a nice little winner. I love finding odd inflection points which to hang my trend lines off because when they’re right you can predict things out by years. So using the same method to draw a trend line that my poorly drawn red circles give me, the pink ones paint a...