RED
NEO LongLooks like we're seeing a trustworthy enough response from NEO after he got shot by the agents. lets hope he still knows kung fu.
Gann angles are set u as resistances (didn't use box to reduce clutter), they will serve as the ascending channel's resistance on the uptrend
top yellow line is target, bottom yellow line is next buy-in for the skeptics.
stop is set at minimum loss, right above that resistance bubble it just bounced off of
we're headed for "3" on the 5 point elliot, assuming that first low I based my gann angle off of
20/06/2017 S&P500 AnalysisAfter a bullish day, Tuesday was a day in red for most of the markets worldwide. Generated mainly by a fall in oil prices, which led to levels that it did not reach for many days. www.reuters.com
GBPUSD for longVM-RED Trading Strategy:
A typical .886 combinationof Fib has formed.
So, a VM-RED strategy can be adopted to take this trade. Although we've missed the best entry level, it's the thought that matters!
As shown in the chart.
Cheers!
Jason
GBPUSD: Expanding Triangle Within Ending Diagonal: Sell SetupI haven't posted anything on this pair as of late while waiting for things to clear up somewhat. Well, looks like things are becoming much more clearer as to what is happening and what could potentially happen next. There are appears to be a pretty good sell setup coming soon. Not yet. But soon.
What you are seeing here is an "small" (relatively speaking compared to the ED pattern on the Daily TF) expanding triangle pattern within the larger ending diagonal pattern. This expanding triangle is in the cd leg of the ED. Prices are very quickly heading towards the completion of the expanding triangle.
There is also a POTENTIAL bat pattern defining the cd leg of the ED as well but it's D point is outside the ending diagonal's upper TL D point.. Which on a daily TF scale is not much. Also keep in mind that just because the bat is there DOES NOT mean prices must complete it. If it does complete it, it will mark a good sell point for the ride down to complete the ending diagonal pattern.
On the DAILY TF, you can still see the 2 long-standing harmonic patterns are still in effect. In fact, the ending diagonal should be ending somewhere near to the butterfly's D point completion.
Here is the DAILY chart so you can see the bigger picture:
MY TRADE PLAN
For now, just waiting for prices to finish off that expanding triangle pattern and reach the upper TL of that ED before I will consider taking a SHORT.
*DISCLAIMER:
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade or ask for stop loss and take profit levels. Any SL or TP given on my trades are my own I have used for my trade and are not recommendations for you to use. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!
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OBV Triangle and it's price equivalentI drew a triangle based on OBV's 50 hour moving average (orange),
and mirrored the triangle on price.
Red and green areas are 80/20 % overbought / oversold zones.
At this moment we are in the overbought zone so you can try a short here.
I expect a big move of ca. 50% after price breaks out of the triangle.
Targets:
Upside: 333-375
Downside: 130-90
Cheers : ]
-- PS: Here is the pine script code for the OBV indicator with moving averages: pastebin.com
