SandP 500 E-Mini Futures D CME Updated 6/20/2017Price is now at the top of the sliding parallel as mentioned earlier. Look to see we will continue or if price wil pull back a little from here.
Market Geometry
SandP 500 E-Mini Futures 60 CME Updated 6/20/2017Price has started to run out of steam after hitting close to the median line on this time frame. Look for price to possible pull back a bit more to the pereious highs at 2443 area, then show support and contnue.
$mchp breakout lookout higher time frame showing change in market structure after pulling back and in defined uptrend
mid time frame shows rising moving average and positive market structure change forming a base before possible breakout
lower time frame is in alignment with higher time frames with positive momentum and volume
first target is resistance of 83.0x area and next level to 84.0x area
SandP 500 E-Mini Futures 240 CME Updated 6/19/2017I have drawn in a new width fork that has captured price nicely, as we have broke the price action to the upside. Look for price to continue to at the mimum the median line on this particular timeframe.
SandP 500 E-Mini Futures 240 CME Updated 6/19/2017Price has bounced off the sliding parallel on the and is rising again. Look for the next sliding parallel to act as minor resistance then if it breakes the next after. Price is at the ABCD extension of the move up, so keep that in mind.
SandP 500 E-Mini Futures 240 CME Updated 6/19/2017Price has broke through WL1 after hitting resistince and the sliding parallel coming from the high on the left. Look for price to retest as support on wl1 or or the resistance turning support at 2440 area, and then continue higher.
BTC - Does it follow Geometry? (Experiment)I will post updates on my old chart aswell as this one. Stay tuned!
SandP 500 E-Mini Futures 240 CME Updated 6/16/2017Price has come down from the triple top around 2440. We are now at minor support on the sliding parallel. 2317 is also minor support as well as the top median line as marked.
SandP 500 E-Mini Futures D CME Updated 6/16/2017Price has come down a bit down to sliding parallel. Look for price to hold here or continue to 2400. If price to break through and come to 2400 area possibly for minor support.
SandP 500 E-Mini Futures 60 CME Updated 6/16/2017 Price has hit the 2436 area of minor resistance, and is dropping. Price should drop further down to at least 2417. If we break 2417, we should see price hit the sliding parallel, and perhaps continue lower to the median line. 2417 is the level to watch at the moment if price will drop below or not.
SandP 500 E-Mini Futures 60 CME Updated 6/15/2017Price has dropped from the 2439 area, and is now resting on the 2418 area for a possible support area. If we break lower here, look for 2400 and eventuall 2389 and the lower median line, if we break above, 2439 I will be drawing in a new up fork on this timeframe. It is interesting to see that the marked sliding parallel has the same frequency as the median line set.
SandP 500 E-Mini Futures D CME Updated 6/15/2017Price has come down from 2439 area. Look at this sliding parallel line here for possible support. If we beak it, price may come back down to the 2400 area as the next possible support area.
SandP 500 E-Mini Futures 240 CME Updated 6/15/2017Price has come back down from the WL1 at 2439. Look to see if price will hold here on weak support at 2417. I had marked 2439 as a possible turning point if we could not break above WL1, and it looks like it will stay that way for abit. Look for 2400 area as the nex suport area if we break 247 to the downside.
GOOD PROFITS ON SILVER!BUT NOW WHAT?Very good entry on this last counter leg bounce of silver.
A lot of traders ask me now what?
Now the current trend line on hourly chart has lust broken.You can wait for a re-test of the trend line nad short it.
Keep in mind that fundamentals stay unchanged supporting a price near 15$/OZ area.
TECHNICALLY
1.WE CAN SEE THE 61,8% FIB RETRACEMENT OF THE INITIAL DOWNTREND THAT PRICE TRIED AND COULDN'T CHANGE THE MID-TREND UP.
2.MARKET GEOMETRY MEANING THAT IF WE DO THE SAME PROCESS AS WE DID AT MY PREVIOUS ARTICLE WE COPY THE ED RED LINE AND WE TAKE THE E'D' RED LINE THAT OCCURS AND WE PLACE IT AT THE CURRENT BOUNCE.
3.THE PRICE LINE THAT OCCURS IS AROUND 15,300$/OZ AREA THAT IT HAPPENS TO BE THE TOP LINE OF THE DESCENDING MID-TERM CHANNEL.
4.WE HAVE RSI DIVERGENCE ALREADY ON 1H AND 4H CHARTS.
5.STOCHASTICS IN OVERBOUGHT AREA.
6.THE 15,300$/OZ IS ALSO THE 1,618% FIB EXTENSION OF THE LAST E'D' COUNTER TREND BOUNCE WE HAD.
7.AT 15,300$/OZ WE HAVE A STRONG RESISTANCE ALSO AND A BULLISH ADVANCE PATTERN COMPLETION WHICH I WILL POST A NEW ARTICLE SOON.
8.AS WE SEEN AT HISTORY PRICE AFTER EACH SELL-OF RALLY DIDN'T RETRACED ABOVE 88,6% FIB RETRACEMENT INCLUDING THE WICKS SO WE WILL PLACE THE BUY STOP ABOVE THIS AREA.
POSSIBLE TRADE:
FIRST TARGET AT 16,300$/OZ AT PREVIOUS LOW STRUCTURE AND 61,8% FIB RETRACEMENT OF THE UPWARD MOVE.
SECOND TARGET AT 15,300$/OZ AREA FOR THE REASONS MENTIONED ABOVE.
BUY STOP AT 18,100-18,500$/OZ DEPENDS ON RISK APETITE ABOVE PRECIOUS HIGHS AND ABOVE 78,6-88,6% FIB RETRACEMENT OF THE LAST COUNTER RALLY.
THANK YOU FOR SUPPORT!
HAPPY TRADING!
SandP 500 E-Mini Futures 240 CME Updated 6/14/2017Price has dropped to 2417 and now is retesting WL1. Look to see if price will continue rising above WL1. If it does, it may test WL1 and continue to WL2 around 2477. If it pulls back from here look again at 2417 and 2425 area as weak support.
SandP 500 E-Mini Futures D CME Updated 6/14/2017Price had dropped to 2403 area, then again to the lower sliding parallel that is marked and is now bouncing again. Look for price to continue to rise higher to possible break the next sliding parallel.
SandP 500 E-Mini Futures 60 CME Updated 6/14/2017Price has continued its reversal from the support at 2417. We have gone above the middle median line and are currently retesting resistance here at 2440 area. Look to see if price can continue its move up from here.
SandP 500 E-Mini Futures 60 CME Updated 6/13/2017Price is at minor resistance here at 2433, with stranger resistance above at 2440 area. Look to see if price pulls back from here a bit maybe to 242 before trying to push higher. If we break 2418 look for 2404 area as support.
SandP 500 E-Mini Futures D CME Updated 6/13/2017Price has bounced form the sliding median line parallel. Look for price to continue higher possibly to try to break 2430.
SandP 500 E-Mini Futures 240 CME Updated 6/13/2017Price has come down to the 2418 level at support. I am looking to see if price continues dropping lower or not after this bounce. If it does come a bit lower, you could look for 2400-2410 area as another possible support area for a bounce. If price breaks through the wl1, look for 2477 or higher.
SandP 500 E-Mini Futures 240 CME Updated 6/12/2017Price has hit the WL1 twice and formed a double top, and broke down to the next minor support level around 2418. Price could hold here and try to continue back up, or it could come further down again to the middle median line or the 2400 area to test support. Look at price action to see how it continues.
SandP 500 E-Mini Futures D CME Updated 6/12/2017Price has dropped a little to the sliding parallel. Look to see if price can continue higher to the next sliding parallel, and holds as support here.
SandP 500 E-Mini Futures 60 CME Updated 6/9/2017Price has broken 2439 area, and should retest as support before going higher, to the upper blue median line eventually.
