adriel.arrasmith

adriel.arrasmith

We are obviously in an ABC correction now after moving up in 5 waves. Buyers will come back in soon, but prices will come back down again to the level stated. At that point odds are the correction will be over to start a new bull market and present opportunities for buying.

adriel.arrasmith

On the weekly you can see we closed as a bullish engulfing. On the daily we are diverging, held the major level of $19, bounced of the 200 ema, which has been holding as support and finally we formed and broken a bullish wedge. Target 1 is $27.

adriel.arrasmith

I covered CMG when we were putting in a potential right shoulder. At this point we have broken the counter trendline and below the 200 ema, which signals a move towards below $500. The risk:reward here is also nice so its a great time to enter.

adriel.arrasmith

We just closed as a weekly pin bar rejecting the former resistance of .795, which now makes a double top. If we break this counter trend line I will be short targeting .76 and then .74, which is a demand area/50% fib.

adriel.arrasmith

I am long the GBPUSD at 1.492 after we broke out of the wedge. I am targeting 1.55 the first major resistance, 200 ema, and target of the wedge pattern. We are still technically in a downtrend so 1.55 may very well present a selling opportunity targeting 1.50, which will be close to the retest of the broken trend line. Of course we will need further signals before...

adriel.arrasmith

AUDUSD has made a double bottom with a strong daily divergence. We are looking for price to break and retest 0.79. If we get an actionable buy signal we will buy targeting .83 and then the .86 area. This is as fancy as I can make this chart, but the strategy is simple if we hold .79 it's going up.

adriel.arrasmith

If we break the $90 level of this double top neckline we will look to target $75-$78. That is a huge demand level and the 200 ema is in that area. If you look in the past price likes to hug that 200 ema.

adriel.arrasmith

GPRO has recently been in a downtrend for a while now holding at the .886 fib level, which also is a support level around the $38 area. We also we have been diverging on the daily chart, then breaking the downtrend line. The new uptrend has been established now that we have made a higher low and a higher high. Medium term resistance is a $55 the 50% fib level and...

adriel.arrasmith

As you can see here after putting in a double top we have broken out of the daily channel from about 1.5 years ago. We are also diverging on the weekly/daily. The break of this channel and support/retest puts us in a downtrend targeting $130. I think we could very well see this in about a month.

adriel.arrasmith

This is a great what if situation. CMG is way overbought, diverging strongly on the weekly, and at this point looks to be forming a head and shoulders pattern. If we break the neckline at $605 and the uptrend line the first target area is going to be $470-$500 where we have prior support and the 200 ema on the weekly. Depending on market conditions at that point...

adriel.arrasmith

Once we break out of this wedge I'll be looking to buy. 1st target is 1.45, 2nd is 1.48, and 3rd upwards of 1.56 depending on price action and your trading strategy.

adriel.arrasmith

We're in an overall downtrend making lower lows and lower highs. We rejected the 1.44 area, which a large supply area. You can also see the clear rejection with the 4 hour pin bar. I shorted at the break of counter trend line. Targets are at around 1.40 because of the extension levels and it should act as a big psychological level.

adriel.arrasmith

EURNZD HEADING TOWARDS 1.52-1.54

adriel.arrasmith

The details are on the chart. You can see a similar pattern in the price action and RSI that lead to a 1000 pip move. Also, after each final leg there w of the pattern there was a 1000 pip move. They also both almost hit the .786 fib level of the last leg. This time around that coincides with the 200 ema at 1.54. There are multiple reasons I'm long such as, the...

adriel.arrasmith

The chart explains itself. I noticed a previous pattern and a very similar reaction in RSI that lead to a 1000 pip recovery. Also, after each of the last legs of each pattern there was a 1000 pip recovery. They were both very close to the .786 fib level of the last leg as well. Coincidentally this time that lines up with the 200 ema at 1.54. There are also...

adriel.arrasmith

The US dollar is correcting currently with many technicals in play there. The GBPUSD is diverging currently, broke the counter trend line, and completed a C leg targeting at least 1.535. I went long at the break of the trendline.This should be a very nice ride :).

adriel.arrasmith

I'm buying the GBPNZD here. Target 1 is 2.03. Reasons for being long: 1. Completed AB=CD pattern 2. Uptrend support line held 3. Broken trendline/retest held 4. Tagged the daily 200 ema 5. Completed a crab pattern on the 4 hour 6. Prior support/supply area. 7. 4 hour pin bar

adriel.arrasmith

This is a very high confluent trade with fundamentals. 1. SSI INDEX IS HEAVILY SHORT 2. AB=CD PATTERN 3. TRENDLINE 4. .618 FIB LEVEL OF THE LAST LEG 5. PRIOR SUPPORT AREA THAT IS NOW RESISTANCE 6. 1.272 FIB HOLDING OF THE LAST MINOR LEG 7. BULLISH DIVERGENCE OF THE 4 HOUR I'll be buying soon once we break out a little more.