dericksim

dericksim

as mentioned, this is one airplane that has went too high. No indicator to measure on big time frame. so switch to 1min and apply the same method. stop loss 246.10. point of entry highlighted by arrow.

dericksim

Yesterday was a good run for DJIA with all eyes focused on BOEING. I believe that the dream liner has almost reached terminal altitude with daily RSI at 91, weekly and monthly all above 80. Is there an ejection seat for BOEING? Just updating the same daily charts. DJIA is stuck in this super tight channel, break to either side we have to see. (my view is:...

dericksim Updated 

it's scary when every single chart you see has the knife at the throat. Trade with care and enjoy the volatility! Recoil to gain strength for the next wave ~35/600

dericksim

For those into the yellow metal the picture is not pretty. I think it can still hobble on till next year. Whatever the case is, just beware of aware. Monthly chart so the movements will definitely not be in 10s. A small rebound could already yield 100 if it does break down.

dericksim

I'll let the picture to do the talking

dericksim Updated 

my prediction of DJIA movement based on MACD movement. By 2nd week of July, support zone will moved from current 20800 region to 21000 and above. By August it will reach the current base that is being formed here. Even with a toppish market the tendency is still towards the upside as the market is and will not be easily convinced that it is a peak. Trade with care...

dericksim Updated 

I think we are pretty close to the euphoric zone inspired by Yellen. MACD on daily chart should produce a gold cross tonight or tomorrow morning. I have doubts that this cross will materialize as it is still possible to uncross it within 2 candles. Market reaction will be violent and depending on hourly chart and above will be too late. Managing my risks using the...

dericksim

There is an old saying among technicians that the trend is your friend. Obey the trend and it shall not fail you. The tough part is : no one really defined what a trend is and they would usually end the conversation with "that is the million/billion/trillion/gazillion dollar question". There are even more people out there that liked to associate technical analysis...

dericksim

3 possible support lines for DJIA. it should be a zone but used a straight line instead for easy viewing. +/-100points for the zone. 1st wave should hit the upper zone and rebound, 2nd wave will hit 2nd zone the followed by last wave till the bottom. I seriously do not think that the final zone will be broken as weekly and monthly charts are still very good. There...

dericksim Updated 

Options expiring 9/19 so there will be some interesting development coming soon. From the monthly chart, it has been stuck in the channel for the longest time. Upper band is 1.1346 and lower band is 1.0827 and equilibrium is 1.1087. 1.15-1.16 is the area to watch where the bulls and bears fight it out. Anything below this level the bears have the upper hand. The...

dericksim

From the weekly chart, MACD is about to make a gold cross above zero very soon. A proper cross on weekly chart should yield at least $20 (from recent low of ~40 we should see ~60). I expect it to hit RSI70, consolidate (sideways: market will not let you buy cheap again) before heading to RSI80 level. This should bring us to the $70-80 region; which is another $20...

dericksim

For those waiting to short the Euro, don't even bother with the daily chart. 4H chart running out of space for another leg down. For the past 3 candles, since MACD produced a dead cross has there been any effect to the price? Just wait for a couple more candles for the indicators to adjust and the uptrend should resume. Whether the trend can hold, just look at RSI...

dericksim

what and where the market is fighting over. easy to see at a glance. gap covering? Wait till the gates are crashed through. Be very careful when MACD goes above zero; that is when the party is about to end. As of now it has yet to start.

dericksim

This wave on the monthly chart is pretty much done. There could be a spur to $1400 but the magnitude of this move has been achieved on the monthly chart. There will be another wave of consolidation for the indicators to rest and return to normal. Impossible to run a marathon 2.47% with Usain Bolt's speed. With the consolidation one will need to manage...

dericksim

On weekly basis, we are already 21 bars into weekly MACD cross, another 5 more to go. We shall see how the market behaves. weekly and daily RSI 50 is at almost the same level of 3013. If Market is kind enough to give a retrace this could be a good reference point of entry. Can consider taking ALL or 80% profits once index hits 3400. On the HK front, the ShenZhen...

dericksim

sideway movement for now. WTI albeit the strong rebound, it is difficult for it to move above 51 for now. conditions are not so favorable on weekly chart. trade with care as it is easiest to loose focus during sideways market and loose back hard earned profits during this time. Whilst I may be wrong; I think it would be prudent to follow the 4H charts and 1H...

dericksim

In the event of a successful breakout, I would target RSI70. Whether this target can be reached, I will monitor it from 4H chart. MACD is almost in place, with a successful cross, my expectation is for 3-5 candles of rally before everything fizzles out again.