Following up on the S&P 500 chart I posted last week, It appears that SPX came down to my 3rd target level. A bit below where I thought it would turn. It's now rocketing higher (along with the DOW) on this mornings opening. The fact that it did not breech the 2431.8 handle tends to confirm my analysis that this is wave 4 of this leg of the 1 hr chart and SPX has a...
Since this appears to be wave 4 of a new weekly impulse after a wave 4 on the monthly, I'm taking this view of USDJPY. It already nicked the limit order I put on at 109.426 earlier this week. So I'm in the trade. However, my position size is absurdly low until I see how it's going to go. Easy enough to recover with a larger position in the opposite direction if...
I hadn't charted SPX in quite some time. But like everyone, I'm curious how far this market can go before it finally tops out. There are a lot of possibilities on this chart! Basically this is a 1 hour chart look at the 4 hour, daily, weekly and monthly charts. I was curious how this might work out because SPX appears to be in a complex wave 4 on the 4 hr of wave...
Just stumbled across this 15 minute DXY chart which reminded me of why I don't use indicators much.
I will be looking to add to my EUR/USD short position today possibly from the start of this weeks trading on Sunday afternoon EST
I chart the dollar index to help determine how I trade EUR/USD. Long term I'm bullish the Euro but short term I've been trading it short with impressive results. Since I'm currently bullish the dollar I will be adding to my EUR/USD short out of the gate today based on the V Bottom pull back I see in the DXY chart. I will remain short until the DXY chart or EUR/USD...
I analyzed this oil chart to help with my analysis of USD/CAD. The loonie tends to rise and fall with the price of oil since oil is their number 1 export product. Meaning if oil rises in price USD/CAD will tend to fall in price and vice versa. While most traders are calling for USD/CAD to drop based on long term charting, short term, I'm still expecting USD/CAD to...
EUR/USD shorts not looking promising on the monthly line charts
I believe GBP/USD is making a 12345 wave based on the V bottom pull back after (1). You have to wait for the bounce at the .50 Fib line. If it drops below that line it will invalidate wave 4 and you can pretty assuredly short it down to the lower trend line instead.
Dollar looking bearish for the next few hours
Dollar forming a bearish pennant on the 1 hour
Just republishing this idea stream so other traders can see it. Here are the original links:
Just republishing this idea as public so other traders can see it. The link to the original is in the related ideas area. What a dumb setup this is. Ok here is the link to the original idea: