Reversal Shorts - Top in
- Thread starter jazzsmn
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Expanding T is also what I have as a 5th, final wave of the sequence from March 2009 low.
Totally out and on sidelines OR Short is the way to be. The 1st drop will be a DJI 2000-pt plunge, the 200-day at 25296 will not suport it.
Now if we look at a daily chart we see what is called a small PB bull trend. Over 80 daily bars of SPB TREND. Price is staying well above the ema (gaps..gaps..and more gaps between low of bars and the EMA. So, price is staying, for the most part well above the ema. PB’s are small and staying above the ema except in two areas on the chart.These types of trends are actually some of the strongest trends there are. Volatility can be low but institutions are relentlessly buying up every pb. We may see 30, 40 or even 60 point pb that takes price down to or thru the Ema but even so it looks too strong for any pb to be more than a minor reversal on the daily chart.
However, all SPB trends, sooner or later end, and this one has over 80 bars and most are bullish bars or sequences of bullish bars. There are very few sequences of bear bars. More larger bull bars than bear bars so daily range expansion is bullish. So far no bear strenght has revealed itself on this daily chart.
When we do in fact see a major reversal it will probably be a lower high major reversal after a southern BO thru of the Ema. But at the moment I don't see that happening in the next few days so I remain bullish on the day chart.
However, all SPB trends, sooner or later end, and this one has over 80 bars and most are bullish bars or sequences of bullish bars. There are very few sequences of bear bars. More larger bull bars than bear bars so daily range expansion is bullish. So far no bear strenght has revealed itself on this daily chart.
When we do in fact see a major reversal it will probably be a lower high major reversal after a southern BO thru of the Ema. But at the moment I don't see that happening in the next few days so I remain bullish on the day chart.
I don’t know about wave sequences. I don’t trade them. Never learned them if you are referring to Elliot wave theory?? I can’t see a 2000 point dow drop in the making.
EurUsd 1.1179 Short, no Stop for now, 200-day is my guide. This is an addition to short (6 in total over weeks). Soft target level is 1.1046. If level breaks with no rally (highly doubtful) I want to stay in Short as long as below 200-day to long-range target below Dec 2016 low at 1.0121
Weekly channel from 7/7/08 top. Lower channel line at 0.95. However, there are larger bearish forces at play, Euro is drawn by magnet to 0.8227, the Oct 2000 low
Weekly channel from 7/7/08 top. Lower channel line at 0.95. However, there are larger bearish forces at play, Euro is drawn by magnet to 0.8227, the Oct 2000 low
2000 pt drop ONLY on reversal, which would imply bull from 2009 is dead for good. The previous > 1,000 pt intra day drop will be eclipsed easily because such a reversal is correcting not just an internal wave but one even larger than 2009 - current.
Elliottwave or Wave. .... same wave. ..... breakout from an Ending Diagonal T or Expanding T is massive in sheer force.
There is bear strength, small, feeble, aborning .......
Run a log TL from Dec low thru' 3/27/19 (wavelow) = damage aborning = weakness.
Pullbacks are normal reactions of stocks after a strong run up. It does not mean the trend has changed. Guess who is driving the trend? It is not the retail traders with their thousands of even tens of thousands of dollars. The only ones capable to driving shares higher are the big investors and hedge funds because they have hundreds of millions and billions of dollars at their disposal to trade. Do you really, want to step in front of that?
Right mister. Many people simply can't comprehend this.
If addressing me, bypass comprehension by simplicity. Best traders are kids with ruler & pencil ONLY. Wait for the coat hanger hook to show up, then draw straight line. Example US Dollar Index for my Euro trade. Virgin trendline on USDX 2/16/18 + 4/17/18 extend. 14 month trade still going strong. No need to work a job or do business. Just carry a ruler/pencil and nanchucks. Self-sufficiency.
