S&P500 short on savius Slope Strategy counter-trend signalI put a short order here now on Savius signal that the bullish is about to turn (both on 60' and 15' charts)
Notice how similar the chart is to 2 days ago.
Price also touched the POC of 2695 from 2 days ago.
I am keeping a tight 10 ticks Stop Loss because I'm sure the price will try to push up to 2700 and 2704 (prices from S&P December, this SPX chart prices are slightly different because I believe are an average of more contracts, but the charts looks good enough for analysis) but volumes are low and I don't really think it will have the strength to do so.
Target is Pivot P.
Then S1.
Counter
EURAUD ShortQuick counter-trend attempt in EURAUD to hedge my short AUD positions as well. Shorted this pair with tight SL near last Friday's high and TP at -61.8 old fib level (but most likely will move my SL or manually close if price indeed drops as expected then suddenly start to show reversal at 0 fib level (yellow marker).
Daily:
Weekly:
Confidence: C (because of current strong bullish candle movements esp on higher time-frame charts)
Counter Trend Scalp For October WTI Crude Oil FuturesFollowing Thursday’s moderate retracement, the sky has been the limit for October WTI crude oil futures. Since the traditional New York pit open at 9:00 AM EST, prices have risen more than $.50.
The Trade
Counter-trend scalps beneath $70.00 are likely to produce positive price action. Sells from $69.92 with an initial stop at $70.01 produce 5-8 quick ticks.
This is a counter-trend play, so the risk profile is a bit greater than usual. The goal of the scalp is immediate and positive price action. Be sure to have the stop loss in the queue at $70.01 before the trade is taken.
EURUSD Breaking Bad - Look to Short the next counter-rally EURUSD
EUR broke important support at the 1.15088 line on Friday and then collapsed in a near straight line towards the next line of support at 1.13679, after making a low 19 pips above here so far.
All these lines on DXY and Gold and here too are weeks old and none of these charts have had to be updated or amended....showing how slooooow most markets are compared to Bitcoin, which needs updating every day and somettimes more.
There's a lot to be said for the quiet life.
Bitcoin is Formula 1 full-on - or used to be : (
Everything else is so sloooow in comparison.
Still believe that Bitcoin provides the best training ground for trading across multiple markets - but they require way more patience usually, that's all.
The break on Friday looks like the prelude to bigger a break-down which should take EUR back down to 1.0855 and potentially as far back as 1.0490 through the Autumn/Fall period.
In the very near term the nearest support potential lies at 1.1367 and extends down to 1.1316 which should create a counter rally back to the 1.148-1.1508 range at best before it falls away again - it may be quite dramatic when it does.
Look to short the counter-rally with stops just above the 1.1532 level by a few pips.
Can use the DXY chart as confirmation.
TP 1 1.1118
TP2 1.0855
TP3 1.0490
For fastest updates in real-time please see Global Markets link at top left of main page.
Bull AB=CD here is a AB=CD pattern that has bullish sentiment. the "C" point is a 786 retracement of the AB. so as outlined in Scott Carney's book Harmonic Trading VOL 1 the 786 uses a BC projection of the 1.27, and the pattern completes the ABC extension beautifully with maybe a pip or less under the BC projection. Because this is a counter trend trade I am aiming for only 30% of the retracement and having stops set between the 1.13 and 1.27
Lets see what happens!
Bearish Symbols From Successfully Back Tested Counter IndicatorsSince Reece and Bonavest departed Whalepool and Cloud and Webscrapper are absent I have had to resort to the use of a new set of counter indicators. BinaryEchos and SpreadSheet Warrior have been spewing bullish narratives which I have implemented as sell signals, I have implemented Webscrappers selected TA of 8 hour heiken ashi candles on this chart which indicate a continuing pattern of selling. Targets for this move are 5.4k 4.8k and 3.6k.
EURUSD Counter-Rally to Upper Parallel Before next DeclineineEURUSD 30th May
EUR has finally reached the month-long downside target at
1.1558 just in time for the end of the May. It actually
exceeded the target by 45 pips before reversing higher and
creating the first strong green candles of buying intent the
market has seen for months now. But the counter rally is
running out of momentum now whilst DXY holds above 94.
Initial resistance for EUR lies here at the 1.1676 line and
extends to the line above at 1.1731. This range, bounded by
the two lines, is likely to prove insurmountable in the very
near term - it will need DXY itself to break below 94 to break
the upper parallel here - in which case the bears will retreat
further here too and it should then rally 90 or so pips higher
still to 1.1821 on more bear closing before falling away again.
That looks to be best case scenario for EUR from here though.
(At the same time DXY should then fall to test the 93.36-93.12
range and then bounce higher again.)
So long as 94 holds up on DXY the Euro is likely to remain
trapped within the medium term downtrend of April/May and
likely to fall away from the upper parallel once more when
challenged.
But this time around the next sell off from the upper parallel
of the larger impulse wave has a reasonable chance of
creating a double bottom around the 1.1558-1.1540 range
when it does fall away again - so any fresh shorts taken out
around current levels need closing down again here. Any
subsequent fall below 1.1535 will then be needed to trigger
fresh shorts from here back to the 1.1318-1.1287 range.
AUD/USD BEARS TAKE CONTROL!!WEEKLY RES HOLDS FIRM AT .7575 AS WE TRADE UNDER THIS LEVEL FOR MORE THAN A WEEK STRAIGHT!!
* Counter Trendline Break
*Daily Rejection
*200 MA holds as another level of rejection
*Daily 38.2 Fib level holds firm
This is more than enough indication that another bear leg is on the way!!
Can we see .7300???
EURUSD Trying For Break-Out Counter-Rally HereEURUSD Trying For Break-Out Counter-Rally now
Using DXY as the confirming signal (please see DXY updates)
we've been short EURUSD for some time now, looking for a
test of 94.20 on DXY as the likely medium term top for Dollar
strength across the pairs. That came yesterday (too busy
shorting Bitcoin to notice, sorry for that).
But EUR didn't quite make it to the next downside target at
1.1665 here, bouncing away 11 pips higher than really
expected, though it did bounce precisely off the lower
parallel of the little pattern EUR is now trapped within.
Yesterday was mostly bear closing by look of the chart. Today
it's more bull buying with a small impulse candle arriving as
London opened after an aimless overnight session in far East.
It can rally to 1.1756 and then will probably need impetus and
follow through from New York to push any higher still.
Only once it can get above here should it push back up to the
1.1823 level, presnting a potential long opportunity if we see
it develop later. But until we see that evidence present itself
EUR is becoming vulnerable to another sell off, though this
time it should only come back to the 1.1721 line to begin with
and will need US selling to drive it lower still towards the
1.1679-1.1665 range.
With the Dollar expected to enter an extended period of
consolidation under 94.2 on DXY it's no longer appropriate to
be looking for big EUR weakness in the nearterm.
However, looking a little further out in time, DXY is expected
to rally a further 1% or so from 94.2 to 95.15 and EUR to fall
back to 1.1558 eventually before any real change in overall
trend is likely on this pair.
This update was posted shortly after the DXY companion forecast this morning. It never loaded correctly. Very annoying. Anyway, what was expected above is happening pretty much as it should so far - EUR is about to break higher as DXY unravels under the dynamic from the highs a while longer.
EURUSD: Lower Stop On Any Shorts/Use DXY as Signal ConfirmationEURUSD Update
After rallying from the downside target off the 1.1721 line
EUR has made it to the near term upside target centred
around the 1.1821 line and been met with a barrage of
persistant selling from there over the last 6 hours creating a
series of rejection spikes above the line.
If you shorted from here again lower the stop to 1.1787.
It's been sold off in Europe all day - we need to see US follow
through to know that downside pressure is still strong from
here.
Without it there's an increasing chance that it will push higher
again from here before coming off again later - the next key
area on the upside lies at 1.1831-1.1838 - a break above here
needed to signal any further near term strength to 1.1915.
The overall picture is still bearish for EUR but with DXY
consolidating off 94 and with a little more unwinding there
still likely it means that this this whipsaw back higher for a
while yet before the downtrend resumes again
EURUSD Target achieved, counter-rally followed by more weakness EURUSD
After another rally back to the upper parallel precisely EUR has fallen to the target at 1.1915 after an intra-day low at 1.1910.
It should now attempt a feeble rally back to 1.1946 and the upper parallel at best before it falls away again. And unless it can find a double bottom at 1.1910 when it next comes off the likelihood remains that it will decline further still over the more medium term in stages to 1.1880 then 1.1815 and finally to 1.1721
EURUSD Another Counter-Rally prior to decline to 1.1915 TargetEURUSD: Another Counter-Rally prior to decline to 1.1915 Target
Having made the counter-rally back to the upper parallel EUR has continued its expected down-trend. It's now touching the next support line at 1.2027 and likley to make another small counter rally to 1.2067 and at highest to 1.2094 before it falls away again to the 1.1915 downside target towards mid May.
XCP counter party Log bottom of uptrendThis looks to be an optimal entry for a quick trade on XCP, or a long term hold of about 150 days if you choose