Get started

Fibo

Dow Jones forecast week commencing 16th MaySo on Friday 13th May, we have seen the classic head and shoulder topping pattern confirm here on a lot of major indices. You could apply this thinking also to S&P500 and its derivatives Spy etc. So the head and shoulder neckline break, all in shorts right? Wrong. Note the orderly bearish action, respecting fibs very tightly on the way down. Also note the formation of a downward channel in the process of forming the head and right shoulder. Also note that next week is options expiry (Opex) on Friday 20th May. This chart tells you all you need to know about what usually happens in these weeks northmantrader.files.wordpress.com So my plan for next week is perhaps initially scalp short, and look for a reversal around the bottom purple channel line. If this plays out well and we see reversal there, you can get long and hold it, perhaps even past opex into week commencing 23rd May. Just keep bringing up your stops to lock in profit, or ride the trend (buy dips) intraday if you prefer. If all goes according to plan (warning - it usually doesn't :D), we'll hit the upper trendline, and this will coincide with a 61.8 retracement and also a proper retest of the H&S neckline as resistance. If the plan is still in tact at this stage, that could be an excellent place to look for shorts, aiming for the technical target of the H&S, all the way down at 17k on the dow (which also coincides with the big 2000 level on S&P 500)
FX:US30Long
by BobVanders
2
Oil Finishing Its' Symmetrical Uptrend. Retrace back to.382Oil has finished its second symmetrical uptrend (blue trend line) along with its 3rd symmetrical smaller trend (pink trend line) Expect it to retrace back to its .382 fib line as it did on the first leg up. Note that this trend has had some retracements already unlike its first leg up. Look to break the .238 first before committing to the .382. Target Price is 46.56 Please Like and Share. Follow me for more symmetrical patterned charts in the future!
FX:USOILShort
by KyleKeb
Gold: Sequential Cup and Handle Patterns.First off, I Apologize for the cluttered chart. If I find a better way to represent the data I will do so in the future. Also, there is a lot of info on this char so you may have to zoom in and move around to soak it all in. It is looking like XAUUSD has a sequential cup and handle patterns happening. It also looks to be continuing this pattern in a Matryoshka doll fashion. The largest (yellow) has a ratio of 1.48, meaning the larger upward trend is 1.48 times bigger than its smaller downward trend. If we take this ratio and apply it to the next downward trend (green trend line) then you get the first red target bubble which was missed with the 1.48 ratio. The ratio between the green trend lines is 1.27, which means the larger upward green trend line is 1.27 times larger than the smaller downward trend line. If you take that ratio and apply it to the incomplete cup and handle pattern then you get the predicted blue circle. If you apply the first, larger ratio of the initial cup and handle pattern (yellow trend lines) then you end up with the second red target circle. The lines are drawn with similar angles. I couldn’t get the angles exact with Trading View, but they are pretty darn close and given that this is a rough prediction, I’d say they are accurate within the reason of this analysis. Also note that using Fibonacci Retracements, using the green downward trend line and using the blue downward trend, it creates overlapping 1.618 retracements. This is important as it is near the target red circles. The Target prices : Blue Circle: About 1312 May 22-May26 Second Red Circle: About 1322 May 22-May 26 perhaps even May 29, or 30 (that Mon or Tues) 1.1618 Fib Retrace: About 1333 Mid June. I am most confident about the 1312 ish range as the cup and handle pattern has fallen just short of either past 1.618 or .618 retracements indicating the trend runs out of steam early. A scenario with fundamentals would be that it hits one of the first two targets, most likely the blue target, runs out of steam shortly then news could kick in where the Fed decides not raise rates in June, which would take gold to its fib retracement levels of 1333 in Mid June. ***One more thing to help you read the chart. Red font labels are the distance and angle of the downward trends, green being the upward.
FX:XAUUSD
by KyleKeb
3
$AUDCHF | High Probability Reversal @ 0.78228 | Fib Wolfe GeoHello Traders, Here I have utilized the the Wolfe Wave, Geo's Off-Set Rule, and Fib clusters. Wolfe Wave - Within the Wolfe's 1-2 and 2-3 points you must look out for an ab=cd pattern which we clearly have stated here. Points 3-4 and 4-5 are less likely to have such patterns. In fact, as a WW trader, you want the 4-5 path to be carved out as smoothly as possible. Which we also have here. The Wolfe is near completion, but this alone will not give us a complete analysis. Geo's Off-Set Rule - I have defined levels at 0.75558 and 0.71548 to clearly show where the Geo's Off-Set Targets lie. Rule 1 - If WW completes at point 5, we will look at the 1-4 line as the exit point. Rule 2 - If price hits 5', we will look at point 4, 0.71548, as the exit point. Rule 3 - If price hits 5" we will look at point 3, 0.75558, as the exit point. Fib Clusters - There are 2 Fibonacci Extensions I chose to display in this chart. The first one is the one on points 1 & 2. This gives us a maximum excursion point at which price will need to reach in order to complete the 1.618 ratio. The next Fibonacci Extension is used on the final leg down from 3-4 which gives us a 2.618 confluence zone with the previous Fib Extension. With that said, 0.78228 is the point price will need to reach in order to reverse its direction. If this pair moves quickly we may touch the 5' line defined, which would give us a high probability target of 0.71548 as an exit. If price does not reach the 5' line I still expect 0.71548 to remain a high probability target. Best, Chartistry
Short
by GWaves
2
EURUSD Brussels Attack Caution - H4 bullish divergence RSIEURUSD Brussels Attack Caution Just a short technical assessment: I see maximum downside risk for the EURUSD-0.31% at around 1.1150, which is 0.38 fib support, upper ichimoku cloud and bottom of march uptrend channel despite a strong H4 bullish divergence in the RSI On the upper end we could see a move to go through 1.13 levels and finally knock out 1.14. Be cautious! This is a grandchess day. Whenever this happens, the major players on this planet make their moves! Don't trust the media! Cheers, SinatraFX
Long
by SinatraFX
2
Gold correction nearly endedGold was in rally almost all the month, but according to Elliott wave count it is in the corrective wave of 2. It can be deep correction and even the double top could be done here. Now it is at the last minor Fibonacci retracement level of 88%. Trade idea: 1. First position will be taken as the reversal confirmation from price action, reversal bars or reversal pattern in 4 hour time frame is found. 2. Second position will be taken if first one is taken and unfolding in positive direction, 4 hour first continuation partern is unfolded and ended correction, and If continuation bars will appear.
FX:XAUUSDShort
by venckusarunas
2
Euro Bund will we get into correction?We can talk about all fundamental factors and how they can effect the bond prices and so on... But this monthly chart look like traditional Elliott wave pattern from the book. Now we see major impulse pattern have finished the 3 (blue) wave and shown first corrective wave. If the ECB will make unexpected moves it could force the last corrective wave down. There is support zone at the price 148.00 which is near Fibonacci retracement level 23.6% and price 135.00 near Fibonacci retracement level 50%. For more detailed and more frequent ideas, reviews and analysis you can contact me here, on facebook or website. Best wishes for new incoming trading year! ;)
G
by venckusarunas