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S&P500 Long term bias 2This analysis is only showing you guys my vision and this should not be considered as financial advice! With that being said, lets start analysing! Dont forget to give a Like if you agree with my idea. This is the second time that we will be analysing the S&P500 and you can consider this as a follow upon our first idea. Just like we analysed gold (which is following our guidelines perfectly) we plan to do these on a long term basis and just to let you guys know our long term view on things. We have been accumulating shorts since our first update and we did manage to find the top almost exactly. Our shorts have been piled up all the way to 3009. Our first entry was 2900, the second one was 2949 and on the last one we have doubled up so 2 positions on 3009. We have had a lot of noise the last couple of months, with biases changing every day. And with the trade war news made things very difficult to judge. But we managed to keep our vision clear. We are on the top of a 10 year bullrun, no matter what this needs a thorough correction. Fed cut rates by another 0.25% was the tipping point for the coming weeks, the investors simply do not believe in the stimulans anymore and that is why they are beginning to sell. Then trump also declared other tarrifs and the tradewar could soon be escalating. Then Brexit is going to be happening anywhere this year. All factors beside price action that tell that the top could be in. Now lets get to the Price Action! We are currently seeing the breakout of a ascending wedge. At ForAllCrypto Wedges are one of our favourite patterns because of the accuracy and hitrate we get from them. Since the wedge is shown on the weekly and the daily graph this gives us a high probability of going down. The first targets are goven on the chart, we expect to fall down easily to the 50 and 100 SMA on the weekly graph. Here we can expect some bullish action and maybe even some upside but we do not think that these are going to hold. We believe that another retest of the 200 weekly SMA is inevitable. That is why we keep the first target of our shorts (the lowest one we placed) around the 2500/2600 area. The price action upon reaching the weekly 200SMA will dictate any next steps, but we believe that at some point it is not going to hold anymore and that we will most likely be falling towards our goals stated on the first analyses. 2100->1800->1500, if you would like to know why these are our goals make sure to check our last analyses on the S&P500 or to follow us on TV! I hope you guys enjoyed another long term analyses and if you did, make sure to leave a Like !
SP:SPXShort
by ForAllCrypto
1
#GNT 2 in 1 - Bat and Crab Pattern - Harmonic Patterns#GNT Golem Crab Pattern in play after completing Bat Pattern. Golem just gave point D of Bat pattern, which targets on short side are the purple small boxes and dashed lines. We did reached first targets, can't say if we will reach 2nd before reversal for it's original form - uptrend. Once we reversal for uptrend we already have Crab pattern in play and should be heading to Point D (on chart) - expect volatility as this pattern is know by that. There is no time frame, all will depend on market conditions. PS: The small purple boxes and dashed lines also work as entry for this play, you'd like to see a reversal on there, or somewhere around there.
GLong
by Jnsane
EURUSD (Neutral)EURUSD pair traded into structural resistance Wednesday 17th of May 2017. Our view is now neutral. However it is worth noting that should resistance level at 1.12676 be taken out by price on a daily close basis, we believe it will be strong grounds to expose 1.14602 level trading inside resistance box shown. Above 1.14602 area will signal the beginning of the end of the down-trend that started way back on the 9th of May 2011. On the downside, we are looking out for a price breach below 1.08434 to signal price fall extension to 1.05620 level. Before then, we see 1.10081/1.09282 as strong support zone for any retracements from current levels
by magbrr
AUDJPY (Long)AUDJPY is still bullish in our view. Current price action appears to be locked within a bear trap and sideways moving price action. We believe price could most likely move further sideways to form a well defined triangle at corrective wave E of (4) in the 1 hour chart before price consolidation and price rally could begin. However we need a daily price close or trading above 84.583 to open up 85.847 target and thus set-up quite a protracted bullish carry trade. On the flipside, a daily close or trading in all time frames below 82.583 defined by downward sloping trend-line (bounding faulter zone shown) will invalidate our bullish view and expose 81.696/81.386 cluster support zone .
Long
by magbrr
AUDJPY (Long)AUDJPY is still bullish in our view. Current price action appears to be locked within a bear trap and we believe there is one more leg to go in the 1 hour chart before price consolidation and price rally could begin. Area of possible further leg drop in 1 hour chart is 83.309/83.275. However we need a daily price close or trading above 84.583 to open up 85.847 target and thus set-up quite a protracted bullish carry trade. On the flipside, a daily close or trading in all time frames below 82.583 defined by downward sloping trend-line (bounding faulter zone shown) will invalidate our bullish view and expose 81.696/81.386 cluster support zone.
Long
by magbrr
CADJPY (Trade Idea)CADJPY has hit strong structural resistance on bigger time frame as expected and gave up some ground to the upside last week. However, our bias is to the downside and we are looking at price as it is currently locked within bigger support and resistance box shown. Any 1 hour period price close below second support box shown over 4 hours should open up 81.515/81.292 cluster support. End of day price close or price action on all time frames at the end of any day below 81.515/81.292 cluster support will signal the start of the resumption of the bear market which started on the 09/01/2017 and will point to 77.319 as a strong possibility. On the other hand, any 1 hour period price close above 83.218 over 4 hours will open up 83.691 as intra-day target. Also as stated previously further daily price close above 84.095 should open up 85.531. An additional push above 85.531/85.918 will completely invalidate our bearish view.
Short
by magbrr
GBPCHF (Stall Neutral)GBPCHF has reached critical resistance in our view. Current price structure suggests upward move that began on the 16th of March 2017 may have amounted to a protracted correction and may be in the process of topping out. Our main bias is now to the downside and we look for any daily price close and penetration below zone bounded by red and black upward sloping trendlines for short entries till around 1.19118 over most likely, some weeks. Further penetration of 1.19118 should bring 1.11995 area into sharp focus also over a few weeks. On the other hand, any daily price close above 1.31927 is expected to bring a protracted 1.41615 into sharp focus on the upside also over some weeks.
by magbrr
CADJPY (Trade Idea)CADJPY seems to be powering up today in green candles but we think price structure may have hit strong structural resistance per chart shown. We will be looking for a daily close below red support line shown for resumption of down trend towards 80.104 first. Further break and close below there should open up 78.131 and further price close below 78.131/77.319 cluster zone should see the downside continue to drift towards 74.936 price area. Nevertheless, daily price close above 84.095 invalidates our dovish-ness and opens up 85.531 as next realistic upward target. Furthermore, daily price close above 85.531 brings 87.704 price region into sharp focus.
by magbrr
2
NZDCAD (Short Trade Plan)NZDCAD pair appears to have traced out what looks like a bull trap as very large corrective structure seems to still be unfolding. Current price action is proving any further advance is under pressure, at least in the near term, and our bias is now turned bearish for now. We will be looking for any price close below upward sloping blue trend-line as well as below 0.93004/0.92531 cluster zone for short positions till black support line @ 0.91831 at which point proper upward rally considerations will begin. However, further daily price close below 0.91410/0.91182 cluster support zone will open up new downside bias till near 0.88043 @ 0.88622 Nevertheless, daily price close above downward sloping black trend-line and green resistance line will invalidate this bearish view and turn outlook bullish again
Short
by magbrr