gary_trades

gary_trades Updated 

The S&P500 / ES is sitting right at a critical point which I believe will break this week or next The weekly chart shows that the S&P is now above most key moving averages, including the 200 moving average (displayed in black), the 20 moving average (displayed in white) and the 50 moving average (displayed in yellow). Also it has broken above the upper...

gary_trades

The S&P500 / ES is sitting right at a critical point which I believe will break this week or next The weekly chart shows that the S&P is now above most key moving averages, including the 200 moving average (displayed in black), the 20 moving average (displayed in white) and the 50 moving average (displayed in yellow). Also it has broken above the upper...

gary_trades

Copper / HG Futures market may be setting up for a move back to the upside. After a huge expanding bullish candle in the beginning of June that saw price blast through the volume Point of Control (POC) which goes back to October last year the price then immediately reversed and we have seen a sell off for the majority of this month. However yesterday we saw a...

gary_trades

My chart idea illustrates a confluence of fundamental and technical analysis which leads me to believe a long trade in the Lumber futures market may getting close. On the fundamental side: - We have seen Commercial buyers become net long for a whole month, last time this happened was mid 2020 and this then led to a ~130% price rise over 2 months when the price...

gary_trades

It's been a long time coming but it looks like the Gold break out is getting very close now. On the chart there is 2 visible wedge patterns, one takes the extremes / outliers into account (trend lines marked in white) and the other excludes the outliers (trend lines marked in yellow), both are near the end. There is further confluence with the OBV indicator also...

gary_trades

Oil chart is looking interesting. There is a lot of media talk of oil being at a seven year high and oil is going to $100 per barrel however from a technical standpoint there is a confluence of headwinds that may see a pull back at ~$90 level within the next few weeks. Perhaps $100 may be on the cards for later in the year but from what I'm currently seeing in...

gary_trades

I doubt BTC price can hold ~$50k. This chart shows scenarios I see most likely and either one would include a short term drop to either the upper support level (note 4) around $40k or lower support level (note 5) around $30k. Looking at the OBV indicator which I find great for helping with breakout moves it shows we are coming to a point where medium term support...

gary_trades

On the 22nd of July before the recent BTC spike I posted a chart pointing to a BTC bottom at ~$27,300 (refer related idea link) then a few days later BTC broke out of the trading channel and had a nice spike. My estimate for the bottom was wrong, however BTC stopped and reversed at the exact level of confluence on my chart where there was strong upper resistance...

gary_trades

Utilizing Fibonacci and Elliot Wave may help give a clue as to where end point of the BTC sell off will be. If we look at the fall from mid April then it looks like we may be in leg 4 - 5 of Elliot Wave cycle down and then when you apply a Fib retracement using the march 2020 low as the anchor then the 0.618 pull back line is getting close (~$27,300). Going a...

gary_trades

Looking out into the medium term future of gold we can find likely points of price weakness using cycle analysis and then pairing that with market geometry we could also spot potential price target zones. My chart calls out December 2022 as a danger zone! Obviously a lot can happen between now and then but if the price continues to trade in the same trading...

gary_trades

Dual listed (Australia & South Africa) Renergen is a hidden gem, that appears quite undervalued and is now trading at it's lowest point since beginning of 2021 when it saw a substantial price spike. Price looks to have reached a technical support level on the ASX and we are seeing bullish price divergence indicating a swing back to the upside may be close...

gary_trades

There has been some great Bitcoin charts that have been shared recently and it's pretty obvious that there is a wedge / triangle pattern coming to a point, so we should see a big move in the next week odd. But taking a step back to look at the longer term chart patterns I thought this time cycle analysis might provide a good glimpse of what could be possible in...

gary_trades

I think it's time to pay closer attention to The Gann Fan with Fibonacci levels. I don't really see many people using / giving credit to the The Gann Fan so thought I might pop this up here for people to take a look at how effective this underutilised technical tool can be. Using the low of March 2020 and the recent high of April 2021 as anchor points this chart...

gary_trades

Looks to me like a good time to think about either going short on Apple or if using options then selling a short dated Call or buying a Put. I see 4 reasons on the AAPL chart (see below) that point to a small dip, my guess is a pull back at least to the 50 or 100 SMA or the next lower Fib zone (so somewhere between $123 - $126 region) would be highly likely. 1....

gary_trades

Using the 4 hour time time frame it looks like the BTC run that started on 16th December (when it broke a long term 0.618 Fibonacci channel) might have completed a 5 wave sequence around 3rd Jan and then had a very sharp drop before before starting a new wave sequence if this is the case then we may be at the beginning of wave number 3 now and in for another big...

gary_trades

Classic ascending triangle pattern and we've just had a very large engulfing bar piecing both the support & resistance levels. This is more than likely insto money shaking the tree a little bit before picking a direction to start pushing. Typically these kind of formation break to the upside but I'm not so sure with this one. Either way a good sized move is getting close!

gary_trades

We have just touched a pivotal support line. Last two touches of this line in March 2019 & January 2020 both resulted in decent Elliot Wave runs (January was huge). We are likely seeing the 1st wave forming right now, add this to your watch list and get ready to take advantage of the pull back and the big take off of wave 3.

gary_trades

The market is definitely starting to look over cooked, it seems only a handful of stocks are pushing us higher and with the election around the corner can these stocks keep us moving up during this volatile period? Not sure where the top will be but IF it comes crashing down anytime in the next few months then I'm calling a bottom roughly around the 1750 mark,...