Crude - Doomed? ...what's doomed?I have some Credit-Spreads on the D. TF and price of CL. is very near at my short strike (50).
Unfortunately this week are some news events about CL.
So I decided to go lower in TF to see what's going on and I found this.
We have a Sine Wave going on in the 480mins.
As of my last postings, you can see that they show up allover the place in any market and any timeframe.
(Sine Waves are a function of Action/Reaction, but I'm still not 100% understand the physics behind it because I'm just a Chart-Nerd and not a physician.)
The Chart is self explanatory.
As for now I will hold my BearCallSpread and preparing to take action if necessary.
Cheers.
FORK
GBPUSD - ContextToo many information on charts.
What's a trader to do?
Put context around it to filter and see the important stuff.
Price got rejected at the upper U-MLH (!)
Here we are again. Another rejection will shoot price down to the centerline again (...maybe).
If price can manage to crawl up to the orange line - I call this the 1-Line-Trade - I looking for signals to short it. But I'm never in a hurry and I also don't cry if I miss a trade...there are millions to come...
Happy new week out there!
MA - Classic L-MLH test/retestAltough price was in a hurry, it failed to reach the centerline, broke below and now we see the textbook test.
Even a retest (a second one) is possible, bevor heading south.
...trend and flow is still up - not even a prior pivot low is broken...so I have to play it small when shorting the retest.
EURUSD - shorting ideaAfter a rally, EURUSD is slowly reaching an upper band defined by several flat SSBs given by Ichimoku, they act as a resistance zone. Moreover it is blocked by the upper prong of the fork where the price evolved since September. Depending upon the US elections, we may see a rejection of this area with a price returning to the middle of the last swing we observed (25 Sept -> now). Given the technical levels extracted by extending the flat segments of the daily SSB and the median of the fork, 1.10 looks like a plausible target.
Invalidation of the plan in case of non-resistive 1.116-1.120 area.
ES ready to tank?The drawings on the chart catches the movements of the market very nicely.
Yesterday, the close was below the mini- support (white dashed).
A classical pullback to it with no continuation north indicates - ES will probably tank more...and the potential is down to the L-MLH.
I play this with options - selling Call-Spreads or even naked Calls...always small positions, but often.
P!
Long ETH hard for for MondayJust in case everyone forgot, here is a chart showing the results of the last hard fork. Not counting the rally the day before, ETH/BTC was up 30%.
I think we at least go to .022 but now would be our chance to break through the all time retracement of .382. If we were to rise another 30% that would put us at .025
RUT - IUX NorthUntil we break the L-MLH (yellow) or centerline (grey), this markets path leads north.
P!
SV1!. Silver. One more short attemptI still expect a pish up on DXY and, as a consequence, a move down on Gold and Silver. Spotted a possible Gartley pattern which correlates with a bounce down from the Hagopian Line of my bearish fork.
Will take a short position on a Hagopian re-test or when price breaks back into a bearish fork.
SL: 20.50
TP1: 18.70
TP2: 17.90
POT - Pressure Cooker (..tnx Shane ;-) )This concept - not setup - stems from Shane Blankenship, my former mentor of MG.
I use this analogy in many situations, where the market just pressing price, up or down.
What's important here is, the release of the pressure.
See that one wide range bar? This is "interesting", something important is going on here.
Now, since every breakout trader is long, they (Market Maker for this one Stock) will most often try to scare them out by letting price fall back like cooled steam falling back from air to ground.
Taking this analogy as a "CONCEPT" and not as a "setup", gives you the freedom to reapply it in many other situations and trades.
(Thank you Shane, your the real Master...)
P!
...and allways keep in mind - never ever ever risk big, because everything we think can fail.