Dow has rallied nicelyUpdate on the Dow. The Dow has also rallied nicely from its MTPredictor DP support zone that I showed in my last Post.
Mtpredictor
Nasdaq rallied as anticipatedUpdate to my last post on the Nasdaq: The Nsadaq has rallied nicely off the MTPredictor DP Support level I showed in my last Post. It is always nice when a market moves as anticipated :)
GBPUSD updateThe GBPUSD did not rally far off the Daily DP support zone,. The rally only unfolded as an ABC for a MTPredictor TS3 sell setup:
Nasdaq at Critical Support levelYesterday the Nasdaq (and the ES) Reached the MTPredictor DP support zone that I projected 3 weeks ago.
So now we are at a critical junction. Will we get a rally form here (and if so will the rally only be a minor correction), or will the support fail and the down trend continue.
The next few days are going to be very Important for the US Markets !
Will the Dollar fall from here ?The Dollar index is at a MTPredictor Typical Wave 5 high, so does this mean we are set for a fall in the Dollar from here ?
Will the EURUSD Rally from hereAs you can see from the Chart the Euro is at both MTPredictor weekly DP support and at a Daily Wave 5 low, so will a rally unfold from here ?
Will the pound (GBPUSD) Rally from here ?We had a MTPredictor DP buy set-up yesterday, so will the Pound Rally from here ? This is against a red STF, so is a riskier trade than normal, so protective stop should be advanced quicker than normal.
Bitcoin Trade UpdateThis is an update to my previous Bitcoin post "Bitcoin $370?". Bitcoin has now hit the 369.51 target.
Dow at a high as well ?Is the Dow Jones at a High as well.? As you can see, the Dow has started to retrace from the MTPredictor DP resistance level, which suggests a decline is now coming. The only question is how far. I have added two possible DP support zones on the chart.
Nasdaq at a Wave 5 high ?Is the Nsadaq at a Wave (5) High ? As you can see from the Chart, MTPredictor has found that the Nasdqq is at the minimum Wave (5) WPT. And as such a decline into (at least) the MTPredictor DP from the previous Wave (4) should now be anticipated..............................
One to WatchGDXJ is coming off an important low on the weekly chart. MTPredictor found this abc correction and generated a long TS3 Trade setup. The initial resistance/target can be the DP off of the b swing at 44 with the final target at 46.59. Obviously, today's FED meeting can be a game changer so be aware. I decided to sell puts here instead of take the trade outright. It will be interesting to see how this one plays out.
AUDJPY Getting Close To a SellThe AUDJPY has rallied off the DP buy signal and has reached its upside DP target. This is also a major resistance area where the tendency is for a market to begin a correction. I may miss this if it sets up today (Friday) as I don't like to trade forex on Friday's and hold over the weekend but I will re-visit it on Monday. The 96.80 area is the next major resistance and can probably be sold at that level but it is possible that we get a red sellers candle at today's close. A break below today's low, if we close with a red seller's candle today, would also be a potential short. There is a good probability that it may lead the ES (S&P) lower if it does trigger short. Today's Fed speak could potentially change this picture so be aware.
Bitcoin $370?The MTPredictor daily short calls for a $369.51 target. Expect a rally first back to $540-570 area.
GBPUSD MTPredictor Support ZoneAs anticipated, the GBP is finding support at the MTPredictor Daily DP Support Zone
GBPUSD MTPredictor Short tardeMTPredictor DP sell had you short, just before the Sharp fall. This "fits in" with the larger degree Daily picture, I posted a few mins ago. So a lovely example of a MTPredictor setup and trade on the GBP !
GBPUSD Montlhy high ?Hi Everybody, The Monthly GBPUSD chart looks to have reached a Major MTPredictor DP resistance zone, so I wonder if the high is in now for the GBPUSD
USFCHF Reached MTPredictor Profit targetHi Everybody, I have been away on Holiday, but while I was away we had a lovely MTPredictor TS3 buy setup on the USDCHF. As you can see from the Chart, this also has recently reached its first projected Profit target where a Profit of +7.8R was available
AUDJPY Final Target Hit for 4.5RFinal Update - The AUDJPY short from 95.80 has hit its final target at 94.16 for 4.5 times the initial risk.
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Update AUDJPY Short TradeThe first target of 94.80 has been hit for about 2.5R profit. If you continue to hold all or part of the position, stops can be at break even or trailing with the ATR trailing stop. We are in a minor support here so have to expect a bounce here back to 95.20-40 area.
For more info on MTPredictor check out www.mtpredictor.us
The MTPredictor indicators are now available in TradingView!
MTPredictor AUDJPY 240M ShortThe AUDJPY reached a major Decision Point resistance level where a TS3 sell signal was given (abc pattern). Stops can be moved to break even if price reaches the 100% risk level. This is a nice low risk / high reward setup. Update 8/1. The 100% initial risk line has been exceeded so stops can be moved to break even if you prefer. The next support level sits at 94.80. This is a Decision Point support off of the b swing. This can be used as a target as well for about 2.5R profit.
EURUSD Follow UPHi Everybody, I just wanted to follow up on the MTPredictor EURUSD Short Trade that I posted a while a ago, which reached its projected target, where the STF was "strong" so we swapped to the ATRStop for Trade management. This short trade has just been stopped out for a very nice +4.3R Profit. As such I hope this has been a great example of seeing a MTPredictor trade pan out as anticipated and as such result in a nice Profit !
New Bull Market in Silver Ahead?After making a wave 5 high in April of 2011, silver has corrected back to its wave 4 Decision Point which is the tendency after completing a 5 wave sequence. If this current wave 4 DP holds as support, then the tendency is that the prior trend, which was up, should continue up. Silver looks to be bottoming and should, eventually, begin a new bull market.
