Stoic-Trader

Stoic-Trader

For the next few days, I expect a recovery of oil price targeting blue resistance around 74.50 This is supported by: - Bullish RSI divergence in the recent low - No RSI divergence on the recent high - Break of green descending trendline.

Stoic-Trader

Following up on my previous analysis, the downtrend is still strong, and I expect another leg down. The upside grind has the look and feel of a bear flag, and there is no RSI divergence on the recent low. The gray descending trendline could serve as resistance.

Stoic-Trader

Zooming out to the 3-day chart, I believe we have finished the black 5-wave cycle and we're now in a correction. Even though the 50% pullback zone is about to be touched, it's a low probability that the correction will be so quick. Therefore, I'm considering this to be black A, and expect a sideways grind for the near future.

Stoic-Trader

The strong downside doesn´t seem to be over, and the wrapping up of the green abc correction should lead us to fresh new los under 9.88. Red support could give us a correction to the upside on smaller timeframes, but I am considering this an opportunity for a short trade.

Stoic-Trader

I'm considering the recent recovery to be a bear flag, and expect new lower lows. Only a major reversal with break of green descending trendline and gray resistance would change my perspective.

Stoic-Trader

The continued grind to the downside led me to a count change. I'm now considering we're in green IV, and still expect a new ATH before any major reversal.

Stoic-Trader

We have a lower low with bullish RSI divergence, which I'm labeling as green c / blue B. In my primary count, we have already finished green I-II, and are currently on green III. My target is gray resistance at .916.

Stoic-Trader

Price is still plummeting, and even though there was an interesting doji candle on Feb 3rd, it doesn't constitute by itself a reversal. You can see in the chart a very similar pattern on December, which just led to further downside. To consider a reversal, I'll wait for a break of key structures: green descending trendline and strong gray resistance.

Stoic-Trader

Price is going for another breakdown attempt, and this one looks much more solid: bearish RSI divergence on the recent high price consolidation below bottom of rising wedge Next important support level sits at 19.75.

Stoic-Trader

Euro weakness is showing up in most pairs, and EURCHF is no exception. Broken support on green trendline should lead us to a test of 0.934 gray support zone.

Stoic-Trader

Based on the continued drop, I've switched my count to and ending diagonal, and we'd currently be in black 5 to end this downtrend cycle. There are no bullish signals in place yet. A break of the mid-channel green trendline resistance would be a good indicator that the trend has reversed.

Stoic-Trader

Microsoft is breaking green trendline support and is heading for another leg down for black C. A probable target is the 365 support zone, which is also very close to the 100% extension of A-B.

Stoic-Trader

This is the count I'm working with for NVDA. The break of gray support (now resistance), gave us Black A, and Black B is happening as a flat correction (Blue ABC). If confirmed, this pattern could take us to retest sub-100 levels at green support for Black C.

Stoic-Trader

Trade wars have been giving a lot of volatility to any pair with CAD. I´m currently working with the count on the image. Blue B would be happening as a flat correction, and we would soon regain the uptrend for five waves up, for Blue C.

Stoic-Trader

After finishing the 5-wave uptrend for BLACK 1, the correction is going far (as with most altcoins). I am still considering we are inside BLACK 2, but we are currently in a bearish zone. A break of the green descending trendline below gray resistance, turns my bias NEUTRAL. Only above gray resistance we would be really bullish again.

Stoic-Trader

The pair's price action indicates there is still room to go on the recent downtrend. I expect a break of the January low, with the first target at 100% extension (158.937). My primary count considers we are still inside green III.

Stoic-Trader

Black Wave 4 seems to be over, with a bouce off purple support. We should see an uptrend from current levels for black 5 / gray 3. This could also be a triangle pattern, but the end result would be the same, an upside bias for Wave 5.

Stoic-Trader

I'm considering that the move up from last September was impulsive (blue 1-5), and the downtrend movement is corrective (blue WXY). This is valid as long as we stay above the pink line. There is still no indication of a reversal for a long trade trigger. Major resistance to be broken sits at 0.00004 (green zone).