MTL nice support at 2000MTL look to have found strong support at 2000 ( Previous top ) and are now forming a pennant pattern.
If we have another wave up we will be close to an all time high and have free motion up from there.
My target will be 29 - 30.
It's been some good days for crypto :)
High
2/08/2017 DOW Analysis"After a seven-session winning streak that included six straight record highs, the Dow Jones Industrial Average broke above the 22,000 level on Wednesday, powered by gains in Apple Inc (AAPL.O) after the largest U.S. company by market capitalization reported earnings." www.reuters.com ,
Can DAX Join A US Stocks "Mania Cycle" ?Good day traders!
German Dax and S&P500 are in negative correction for the last few weeks; with US market trading at all-time high while DAX lost nearly 7% since June 20th high. Technically we see US markets entering into bullish mania phase with DJIA breaking above the upper trendline of an EW channel. We may see fifth wave rally to continue up to 24000-25000. Mania cycle is also confirmed by Charles Schwab reports that clients opened the highest number of brokerage accounts in the first half of 2017 since 2000 as highlighted in article by ZeroHedge. Keep in mind that from 2000 peak DJIA lost nearly 40% in two years and S&P500 fell nearly 50%. However, I don’t think that top is near yet, as EW model appears incomplete; it suggests more upside in coming months.
So if we go back to DAX and US markets correlation, I think that Dax can see more upside and join the mania phase as well while DJIA is trading towards projected levels. In fact Dax came down in three waves to fill gap around 12000, which can prove out to be a good support area. Break above the upper channel resistance line can be an important evidence that European and US markets are going back into positive correlation. Higher DAX should also impact the EURUSD moves.
Gold - easy 4HR and 1D setup - huge P/L potential. The confluence of trend-lines is making the unit quite volatile in this coming week. The '13 0.49% trendline - retested in July 2017 - is the major hurdle, breaking this trendline would allow the unit room to grow up and fight the major 1300 resistance.
The world has its fair share of problems, Brexit and terrorism in UK, Trump battles to implement policies amidst scandals, Europe faces migration unrest, political weakening, and also depend on the Brexit negotiations. North Korea keeps crossing the lines. South Africa gold mining (7th largest producer) is also facing governmental interference. This allows us calm traders to rise above the competition and make money amidst global madness. These problems are long-term problems so I expect the unit to rise both medium and long term (2 weeks and 1 month).
There is an option to short immediately, however I prefer to buy the unit long.
Short-option.
If the 1250 resistance breaks, short until the 22nd June when the current trend reverses to the monthly upward Elliot wave pattern. At the current rate this will be on the 22nd June around value 1230, stay tuned for updates.
Long-option
Wait until the trend reverse around 22nd June, $1240 level and has a good bullish candle. I will update the chart if I am confident to open my trade. Target: 1270 SL: 1230 after entering bull trend. P/L ratio: 5+
Hope we're all excited for this week!
“The elements of good trading are: (1) cutting losses(2) cutting losses, and (3) cutting losses. If you can follow these three rules, you may have a chance.” – Ed Seykota
Possible long with a good risk reward ratio.
eurcad short possibility! very good chance!this is a really cool short, we tested for another time a new high, as the previous days! So look at the chart, first target 38,2%! We've a good structure!
have a nice day!
The high tideHello there,
Since my predictions of last weekend turned out to be quite accurate, I am now there for you guys. I want you all to make the right decisions for the mutual benefit. See my first chart.
My predictions for CLAM:
- High tides (14-15 May) which will push people to the ice cream bar (more sales)
- Not enough ice cream cones (17:00 ECT 14 May)
- New cones in storage (19:00 ECT 14 May)
- Sales good (20:00 ECT 14 May)
- Boss goes on holidays and empties the vault (15 May 12:00 ECT 15 May)
Good luck trading!
NZDJPY - Long setupHi everyone,
i believe NZDJPY is setting up to shoot up. The pair has been going down for a while now without a reasonable correction.
Wait for a H4 candle to close above the box, which is also the 0.5 daily-fibo.
You can also wait for a breakout of the descending trendline.
Ideal situation would be a clear breakout and a small H1 flag. You can then buy the breakout of the smaller flag.
Greetings.
The Looney being annoying! But a big short in sight! Hi All,
The Looney is really being a Looney over the last couple as it is massively rallying despite massive MASSIVE divergencies. I have this count as follows.
Wave 1: Standard impulse
Wave 2: ZZ retraced 61.8%
Wave 3: Extended to 2.618%
Wave 4: Flat retraced 23.6%
wave 5: Looney high marked with the blue line.
As you can see, there are 5 key high's that kept pushing this pair higher despite being over bought as this pair is at the top so a short is predicted. With keeping an eye on this as it will make some massive moves to the downside.
Happy Trading
CRME recently broke its highrecently broke its high, if it struggles to break the Resistance it will fall back to around the low 3's (make sure to wait for indicators to show signals for reversal)
Decred All Time HighAfter 0.01 we going really high!
People still don't see the hidden potential behind Decred, better then XMR or DASH!
LONG GOLDDidn't actually take this trade but just after trend line retest where I would have preferred to get in.
self explanatory
Wolfe Wave USDJPY shortPossibly shorting USDJPY due to a good looking Wolfe Wave.
Short order put at the green area with target and stoploss indicated on the chart, good luck!
Wolfe Wave USDCHF shortPossibly shorting USDCHF due to a good looking Wolfe Wave. Confluence is an ABCD pattern and possibly RSI divergence.
Short order put at the green area with target and stoploss indicated on the chart, good luck! Will most likely scale down as we move towards the profit target due to the high Risk:Reward.
Long on GOLD if...My favorite trading pattern is to buy breakouts or breakdowns after a base (high base/low base). Gold is in that ideal pattern that I look for, nothing fancy here. Price has risen (like almost everything else) since the US election in November. Unlike equities though, volume hasn't deteriorated as we move higher, though it hasn't risen much either.
We are looking to take long positions after a move above the recent swing high with buy stops above 1244.71 area and buys on the pullback after. There should be enough volume around this inflection point to fill all initial orders we need on this first entry of our potentially bigger position.
This is the initial entry we are looking to take in gold and if it continues we will be looking to add to our positions over time.
The 1245 area is the confirmation to start buying, until then no entries have been or will be made.
SSI Long: Low floater with high short interestSSI
Very low active float due to high tute ownership (0.1% of 30,560,280 = 30,560)
High short interest - 21.6% (6,600,489 @ 13 days to cover)
TTM P/E of 9.17 vs. industry average of 21.04
7.98% dividend yield, ex-div 2/26/2016
No one on StockTwits cares about it... yet
SP500 Swing High - Short opportunitySimple short trade setup. Seeing resistance at the 2272 level, let's see if it works again.
Look for an hourly bar to close below the green line - breaking the inside bar setup - and enter short. Use lower timeframes if you prefer to refine your entry.
Target lower red line initially, but beyond that look for new lows. There's a good case that a reversal is due on longer timeframes too, so could turn into a great entry if well managed.
Low-risk Short Opportunity on Crude #/CLF2017Today we had a great setup of a short entry with relatively low risk on 1 crude oil contract. Our reversal bar appeared with a short entry below the low of the bar and the stop loss at the high, trailed three day bars behind the price.
