A bearish AB=CD pattern completes at 48.95 -- I will be watching the price action in this area to short. If Crude respects this pattern and begins to drop I will likely stay bearish until the completion of the bullish Crab which completes at 46.88, right 3 cents away from the .618 retracement. From an Elliott Wave perspective this fits well with the idea that the...
The current price is 3.065 (this chart is delayed) and I have just entered.
The bat completes at 49.09 -- the current low is 49.10 and I will count this as a completed pattern. I longed the contract at 49.15, however if I was more patient I could have waited for a re-test of the low/PRZ. I am looking for another wave up in crude oil and depending on how this wave forms will I will either look for a sell in in the 51.57 area or further...
Here is a nice confluence of a bearish BatShark along with RSI and AO divergence. I have entered short with some targets marked on the chart but will watch price action in each target area to decide whether to take profits, move stops or even reverse position (in the case of the bullish 5-0 pattern). As per my new strategy I will be moving stops to breakeven...
So I have been having a pretty good day and might be pushing my luck here but -- this is what I am watching for on Silver for the next 1-2 days (or until proven wrong, anyway). I am already short based on the near-completion of a much larger bearish 5-0 pattern (idea shared by @pixi -- thanks!). I have now identified two bullish sharks, both of which, if...
I just entered right now at .0742 for the completed Shark pattern. Price seems to be stalling in this area and there is bearish divergence present on both the RSI and AO. The hourly AO just turned red as well for a little extra confluence. I am only risking ~10 pips on this first try and targeting 0.6927 for a potential bullish 5-0 pattern. As per my strategy...
I am watching the PRZ of these two patterns closely for a chance to short gold. I will be waiting for some confirmation via price action before entering because gold may still have more room to run before a bigger correction. The risk:reward in this zone is enticing, however, so I believe it may be worth a shot if I see a bearish candle on the lower time frame. My...
This pattern just completed in real-time (this chart is 10 mins delayed) with nice high volume bearish pinbar on the 1 minute chart at the entry. After seeing that took an entry at 2397.50. I will look to move stops to breakeven when up a few pips
Ideal scenario: Bearish Shark Completes in Overbought territory with div. in lower/higher time frame. Goes on to Complete Bullish 5-0 (which may line up with 4H KS) Bullish 5-0 Goes on to Bat/Butterfly PRZ But how likely is that?!
The is currently being supported by the 4H Kijun Sen and I have considered a buy there...but this is a nice confluence at the trendline so for now the plan will be to stay patient. When trading the shark you should wait for the price to show it respects the zone and try and catch the re-test, which I plan to try and do on the small time frame (5 minute or even 1...
Some positive divergence here on the weekly RSI as well...it has been quite bearish but I believe this might good buy for a bounce at least. If the trade starts off well and I am up I will likely move to breakeven, especially if the candles are weak. $18.27 also a spot I will watch
I have been interested in going long the Japanese Yen futures contract since the completion of the large Bullish Cypher pattern (I first saw this idea by @TradingJazz on USDJPY, his original idea is linked below). I got picked up on a long at .8811 last night but took my small profit when it seemed it was heading back down after making a lower high. I am now...
Palladium Futures have been the second strongest performing future in 2017 so far . Yet my analysis is providing me several reasons to begin watching closely for an opportunity to short. I am still a neophyte in Elliott Wave analysis but it seems very possible that we are nearing the end of an three wave correction which began January 2016. In this scenario...
The move from the recent lower has not been very impulsive. Price is currently in the PRZ of the bearish Bat as well as right at the 1.618 extension of the first "wave" up. With a stop above the X point, I am going for this short which seems to offer an enticing risk:reward ratio. Ideak entry for me is 1235.3 I will look to move to breakeven after being up some...
Looks like a flag to me. My indicators do not yet align with the idea on this time frame...I will update using lower time frames below. Also note the bearish 2618 set-up which completes @ 393. If you have any comments or feedbacks on this idea or your own view on Corn, please share!
I sold my longs that I entered Friday yesterday at 46.64, which was the .786 retracement of the bearish pinbar from 10:30 AM yesterday. I am now watching for my chance to re-enter. There seems to be a kind of flag forming which suggests a bullish continuation. So far there has been a bounce from the .382 of the high to low...I am watching this area again which...
I will need to double-check RSI before entering...and also make sure there are no strong bearish candles prior to the completion point. Even better, I may wait for price to show it respects the the zone and re-test. In my mind small patterns are less reliable but this seems like an great opportunity to try and long silver with only a few pips risk and possibly...
After the amazing bullish run late last year Copper has been consolidating. I am now getting ready for the possibility that the correction is soon to be completed and looking for long set-ups. This wave count is by no means an expert wave count or meant to be exact but conveys my idea that there was a motive wave followed by a three wave correction (labeled...