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AUDUSD BEARISH WOLFE WAVE EXTREME, RISKREWARD 1:28HI BIG PLAYERS, IN THIS CORRECTION WAVE I SEE A HUGE WOLFE WAVE BY AUDUSD. THE FIBANOCCI CODE SHOW YOU THE HEIGHT, WHERE THE PRICE SHOULD BOUNCE BACK DOWN. IF YOU SEE AN IMPULSE DOWN THE BEARISH WOLFE WAVE STARTS. THIS HUGE WOLFE WAVE REPRESENT AN LUCRATIVE OPPORTUNITY TO WIN 28 $ FOR EVERY INVESTING 1 $. I WILL POST A NEW "PUBLISH IDEA" IF I SEE THE IMPULSE IN TIME. HAPPY TRADE AND KING REGARDS YOUR MEN FOR WOLFE WAVES! ################################################################ --- DON'T FORGET TO FOLLOW ME FOR GOOD WOLFE WAVE PATTERNS --- ################################################################ ABOUT ME: I'M THE FIRST MEMBER THAT WROTE AND PRESENT A SCRIPT FOR WOLFE WAVE SIGNALS BY TRADINGVIEW LOOK HERE: www.tradingview.com CURRENTLY, I WRITE A NEW WOLFE WAVE INDICATOR IN PINESCRIPT. THE NEW WOLFE WAVE INDICATOR WILL PAINT LINES OF THE WOLFE WAVES CORRECTLY. DON'T MISS MY PUBLISHING, TAKE PART.
Short
by NXT2017
SPY Bear Call Spread; Indicators mirror start of May 19 declineWe maintain a bearish outlook on the entire market, and are using the 298/299 call credit vertical to assume our bearish position. We are selling the 298 calls while simultaneously longing the 299 calls to execute a risk-defined trade. With a breakeven of 298.37, we make our maximum profit of $37 per contract when the underlying price drops below that of the short strike: 298. We suffer the maximum loss of $63 above the long strike of 299. Using a bear credit call spread instead of a bear debit call spread, we are able to assume a better risk/reward ratio: .58 compared to the put alternative with the same strikes which entails a ratio of .56. Our bearish outlook is fundamentally driven, but also technically supported as we feel the market is extremely overbought, and many indicators further this notion. The SlowK Stochastic indicator (an indicator from 0-100) read a whopping 95, with the slowK in the 70s, mirroring the readings of May 1st, the start of the major downturn that caused SPY to lose nearly 550 basis points of its value in the month of May. The MACD is showing signs of impending bearish movement as the second derivative is negative. The DI+ is also decreasing at the moment, while the DI- is increasing on the Wilder ADX. The RSI also reached 70, again, just like May. The CCI agrees, as the reading indicates that this security is strongly overbought, with a value of 168, near the 170 seen on 4/29, prior to the drastic down-move. These similarities ought to be duly noted, and are indicative of the strong bearish sentiment that is beginning to prevail. Fundamentally, there are many key issues that haven't been solved, yet, somehow we are near all time highs. The notion that with trade tensions still present (between not only China, but also the EU and Mexico, among others) all time highs are reached is befuddling to us. Using the CAPE (cyclically adjusted price to earnings multiple) measure promulgated in Benjamin Graham's classic, companies also seem extremely overvalued. Also, we note that the strong jobs report on Friday completely curtails the chance of a 50 bp Fed Funds Rate cut, and lowers the possibility of the 25 bp cut that is priced into rate markets.
AMEX:SPYShort
by LaurenTrading
2
131.5/132 AUG 3rd bear vertical on GLD in response to FOMCGLD, SPYDR Gold Shares ETF backed by the physical commodity, has increased dramatically following the dovish Fed sentiment out of yesterday's June FOMC meeting. Central banks worldwide have begun to indicate that they are willing to begin cutting rates, or to resume Quantitative Easing (QE) and balance sheet expansion. As Chairman Powell shifted away from the "patient" stance and indicated that changes could be imminent, saying that "the case for more accommodative policy has strengthened," markets reacted accordingly. Gold has risen on the premise that rate cuts are coming - with bond markets pricing in a 100% chance of at least one cut in the July FOMC meeting. As gold rises more, it does so on the pretense that there will be more monetary easing; if the sentiment in July isn't as dovish as hoped, then the price of gold, and thus the value of the GLD ETF, will decrease. Using the August 3rd expiry allows us to capture the reaction from the next FOMC meeting. Technically, the bear case is prominent: GLD is clearly overbought for a myriad of reasons. On both the day and month charts, GLD is trading above the upper Bollinger Band, the Parabolic Stop and Reverse just flipped over the candles, both stochastics have readings over 75 and both the RSI and MFI indicate values over 80. Done for a credit of 19 cents, there is a maximum profit of $19 reached below the short strike and max loss of $31 above the long strike, per contract.
AMEX:GLDShort
by LaurenTrading
Bearish credit call spread 85/87 June 28 for 1.16 creditTGT has clearly shown the first five parts of an elliot wave pattern, which indicate a peak and an ensued downtrend. This leads to a price target of $80 by June 27th. Max profit of $114/contract is reached at 84.72 and the breakeven is at 86.16. The maximum loss is $86/contract. This spread is 20 deltas negative, indicating our bearish sentiment. Technically, the bearish sentiment is further supported by a decreasing and negative MACD, a DMI- crossover of the DMI+, and the Parabolic Stop and Reverse indicator that switched to be over the candles.
NYSE:TGTShort
by LaurenTrading
SBUX August bear vertical: sell 72.5 and buy the 85 callThis trade is 43 deltas negative and can be done for a credit of 9.01. Best case profit of 901 is achieved below the stake of the sold call of 72.5 and the worst case loss is a loss of 349 per contract above the strike of the bought call, 85. There is technical support at 75 -- this is why the written call strike is below 75. SBUX has a whopping high PE of 30; during the trade war debacle this is outrageous. Lots of growth in SBUX has come from store growth in China. In Q1 it opened 3,700 stores, and can now be found in 10 new cities — totaling 158 Chinese cities. As more money is being poured into Chinese expansion, however, competition is growing. Luckin’ is expanding throughout China; coffees at Luckin’ cost 30 percent less than those from the American competition. Also, if there is a macroeconomic downturn, people will cut their expenses on luxury goods, like $8 cups of coffee. This is a fundamental issue SBUX will have to face. August expiry follows SBUX's earnings report which will begin to indicate the suffering from the consequences of the trade war.
NASDAQ:SBUXShort
by LaurenTrading
6