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Bitcoin - Super Breakout - Next Target $880 USD - Measure RuleThe time has finally come! I have been waiting for a near vertically rally, and likely so have you! Our patience has been rewarded with a strong breakout! Using the measure rule I give a new PT of $880 USD... Momentum has been huge, since June it is the third strongest, the second being in August.... Good luck and soon we will be in the four digit range --- I don't know about you but I won't be looking back anytime soon! Pink verticals are the same length, duh!
BITSTAMP:BTCUSDLong
by Kantardziski
1
S&P 500 - SPY Extremely Bullish Indications - Multi ConfirmationI have been operating on the assumption that the Dow Jones TVC:DJI will reach 20,000 as it certainly Makes America Great(er) Again(Than before 20,000)!!! *insert charming sentence about the interrelated...ness'... of markets* Thus the S&P 500 will likely also rally... that takes us to the end of the macro (arguably still mostly technical) analysis portion, thank you for your patience! Technicals have been setting up another bull-run. I've linked to yesterdays post based on PCRs that are showing extremes... i.e. today the OEX's Put/Call Ratio PCOEX is at .276 (This is the cagefree-shark-diving-with-chunks of-raw-meet-tied-to-your-body degree of extreme...ness'...) --- Also, the SPX Put/Call Ratio PCSPX is sitting at a 1.624 --- Please don't ask which ones are contrarian, seriously... If you saw the chart published yesterday that I have linked to this one, you would see that I had included a pennant, and flag version... I now conclude that multiple TFs have validated and confirmed it to be a rectangle, which was my thought all along. Many folks post without extended-hours included and thus base their judgement on an incomplete data set... It is crucial to include and analyze as much of the picture as possible! Some will have you believe this to be a right angled triangle (flat bottom, descending top) but in my opinion that is a stretch, if even an option due to the nearly zero touches of the proposed support... Check this out for yourself, drop a comment or two! You want more bullishness? More than 2.5 billion shares have advanced in last 36 hours across US equities markets... Most of which did so today... While I could list many more, that would leave no work for you intrepid technical detectives of sorts... quite frankly I couldn't sleep knowing I was such a selfish taker'... Ironically my wife sleeps quite well. Oh, nearly forgot... you may be wondering about my wave analysis... self-awareness is crucial in trading, and well, I didn't leave out "Elliot" by accident... Infact, I was trying to not use the word 'analysis' either but my hunger has overtaken my desire for grammatical accuracy... I have great respect for EWA and those who have mastered it, the only mastery I have related to EWA is a mastery of knowing I know very little about it... Despite the obvious ring to it, I am afraid that really isn't a mastery... Nevertheless, based on some of the Elliot Wave Analysis I've seen from the TradingView community you could very well confuse me for Mr. Elliot Wave himself... relax, I am obviously kidding... clearly I'm nearly entirely half joking. On a side note, what are the chances of such a well-suited lastname? This must be why one school of thought has always credited the theory to his parents, they often bring up the 83 months it took Elliot to successfully pass the Grade 2 English and Math literacy examinations (Knowing the first five letters in the alphabet, counting to to five, sometimes counting to five and being told to start again but count up to two less than last time... Sometimes combining the two, i.e. Please count to five and then say the first three letters in the alphabet)... If you ask me, this is a bunch of total b.s.! I digress, please consider my wave counts as you would the previous paragraph - If by some minuscule chance they are correct, the implications would imply the start of a massive rally... aka you would want to go long, and stay long... The counts did not contribute to, or affect, my sentiment and analysis! P.S. Please feel free to leave a comment or five, this is a community after-all! ... I am fine with constructive criticism, destructive criticism, compliments, personal insults and even childish name-calling....just PLEASE have some sort of opinion, and whatever you do, don't be a fence sitter, I hate fence sitters!!!!
AMEX:SPYLong
by Kantardziski
BitCoin BTCUSD - Breakout over $800 -- Target $811 - PT LessonHere is a small display of how to measure a price target of a breakout after an initial flag or pennant forms... These short-term patterns often reflect the rally's halfway point and are great opportunities to test your price targeting ability. The rest is easy, measure the length of the pole portion ($11.23 is the dollar value of the move) and than measure and add the same value (in dollars, not % as it changes ever so slightly) to the breakout point of the flag or pennant you measured! If it hasn't broken out yet, just pick between 1/2 and 2/3 along the flag or pennant and go from there. Even that isn't necessary, it all depends on your level of OCD and anal retentiveness :p Happy Trading!
BITSTAMP:BTCUSDLong
by Kantardziski
US2000: Tremendous 15 Consecutive Day Rally I have not been able to find any conclusive data regarding whether or not this rally has been all time record for the Russell 2000 Index. Investor confidence has soared to all time highs via 3 week rally. Although I am glad to see this rise occur, I do not seem to understand the logical or fundamental justification for it. How much longer can the Stock Market ignore the carnage in the Bond Market? Because interest rates have been so low for so long, I believe that an increase in rates at this time, a time when the market has been relatively stagnant for over a couple years, will have a strong deflationary effect on the Stock Market. This December, when the Federal Reserve Hikes interest rates, we will see whether this rally has been a genuine reflection of the supposed US recovery, or if it has simply been an impulsive pump after the election of Donald Trump. Please do not hesitate to leave your thoughts.
OANDA:US2000USD
by IceTrading
2
Dollar index (DXY) 2016-2017 Analysis: Rally to continue post elTalking Points: DXY Technical Strategy: Keeping bullish outlook Elliottwave Count: Nested impulsive count Analysis DXY (Dollar Index) is trading impulsive in post election session and able to break channel resistance. We were calling reversal from 19-Aug-2016 and looking for 100 levels during August month. Current count is suggesting more upside towards 103 and above. However, we are expecting small set back of this impulsive rally. Index is testing horizontal resistance near 101.50 area. Break of this level will have 103.15 zone. Action As We are expecting small set back to re-test channel support, we are looking to re-initiate our long position on dollar basket, i.e. we are looking to sell EUR/USD (Euro / US dollar), NZD/USD (New Zealand Dollar / US Dollar), Crude Oil, etc. -- By @HoagTrading (Hoagtrading.com)
TVC:DXYLong
by Hittesh
Correction or sideways?Market taking a breather after the recent rally. I would think that the market is taking a break from the rally for now. Corrective levels below are the 7 day MA at 164ish, 20 day MA at 158 and 100 day MA along with the lower line of the upsloping trend channel. Option vol went out on the move, but commercials seems to be selling as physical prices in Brazil are as high as ever and provide good selling opportunities for commercials. IMHO, downside 1x2 calendar spreads or short call spreads are options.
K
by mjhillpp
GBPUSD Wave-X Complete with Bat: Ready to RallyHey traders! Looks like the minor degree Wave-X is complete on GBPUSD. In addition to the wave count, a bullish bat is complete and has shown some pin support. I want to buy here with a tight stop below the root of potential wave-1. If SL is hit, this is not the first wave of the rally and I don't want to be in the trade any longer. Otherwise, we have huge profit targets above including missed pivots and weekend gap level. Happy trading!
Long
by glennmercer
9
Usd/Cad: 22nd September 2016After the release of news yesterday we seen the U.S Dollar move lower surrounding speculation and uncertainty. I have broken down this pair looking at it long term and we have two scenarios 1. A possible rising wedge, a break of support "1.2900" and we will have a clear bearish continuation with sellers looking to break "1.2500" and then attack "1.2000" 2. We could potentially see a rise in the U.S economy by the end of the year coming into 2017 despite certain figures being shown. We can see that the "1.2900" mark was previous resistance and is now being tested as new support. From a long term analytical perspective i have added a chart pattern commonly know as "Cup & Handle" if the dollar does find strength it should be within a couple days we will see price retest its near term highs, with a break aiming for the "1.4000" area and possibly higher
Long
by Jamal_Whyte
Copper - A strong impulsive rally towards 2.64 is expected My preferred count shows that copper saw an important low in mid-January at 1.9355 and a strong rally higher towards 2.6410 now should be expected. From the 1.9355 low a nice five wave rally was seen to 2.3235 as wave (i) and wave (ii) was clearly a three wave zig-zag correction that completed at 2.0130. Wave (iii) started to move higher from 2.0130 in a pretty messy fashion to 2.2775, which I think was and expanded leading diagonal as wave i and was followed by an almost equally messy wave ii down to 2.1330. It now looks as wave ii completed at 2.1330 and wave iii of (iii) higher is ready to develop. The first strong indication, this is the case, will be a break above the minor channel resistance-line near 2.1945 for a rally higher to 2.2775 on the way higher to 2.38 and 2.64.
COMEX:HG1!Long
by EWS