Trendencies

Trendencies Updated 

I figured I'd post another chart set-up similar to MSFT and TSLA etc. I feel like I'm becoming a perma-bear, and for good reasons! * This is my observation and thoughts, intended for educational purposes ONLY, this is NOT financial advice* Looking at SNAP: I believe this is playing out as yet another ZIGZAG (5-3-5 / ABC) formation. We had our first 5 wave...

Trendencies Updated 

Looking at our current structure for the DJI 1-hour chart. I believe we have a broadening top formation which sets a series of higher highs and lower lows that play within a range / set of trend-lines, typically the 3rd higher high is the final high, which I also have additional confluence to believe this could be the final high as well. Overall, I believe this...

Trendencies Updated 

Keeping it simple, here is a good possible short play. *This is my observation and thoughts which are provided to serve as educational content ONLY, this is NOT financial advice* I will admit that I am biased and I think that the market as a whole is at or near a top area with more downside potential than up, so I think there are a lot of charts with similar...

Trendencies Updated 

Keeping it simple - working with a Bullish Bat Harmonic Pattern . *This is my observation, this is NOT financial advice.* The XABCD Rules are as follows: X-A = Swing Low to Swing High A-B = Between a .382 to .5 retracement of Wave X-A - In this example, it is a .5 B-C = Between a .382 to .886 retracement of Wave AB - In this example, it is a .886,...

Trendencies

Hello everyone, today I'm taking a look at FRO (Frontline Ltd.) - The world's largest oil shipping company. *This is my observation, and I am posting for educational purposes - this is NOT financial advice* As we all know, OIL is having a supply & demand problem and has an overabundance of supply, alongside a decreased demand due to the corona-virus etc. It...

Trendencies

* This is my observation and NOT financial advice* Since all of my targets have been successfully hit on my last trade set-up for Microsoft (MSFT), I thought I would post an update with an update on my next trade set-up idea looking at the 1-hour chart. MSFT currently appears to be a playing out as a ZIGZAG retracement wave (5-3-5). I believe we have finished...

Trendencies

* This is my observation* Looking at XAUUSD - 30 minute chart here: Appears to be a ZIGZAG retracement wave (5-3-5) playing out. For a ZIGZAG pattern (5-3-5 / ABC ), a rule for wave B is that it retraces wave A either 50%, 61.8%, 76.4% or 85.4%, which here it retraced to the .764, or 76.4% which was $1738.415 (The high was $1738.755). Now for wave C, the rule...

Trendencies Updated 

Working with a Bearish Alternative Bat Harmonic Pattern: The key area to hold here is $3.77 and above although it can close with a wick below there as long as the candlebody doesn't close below the 88.6% retracement of AB. Huge R:R, targets aren't listed on the chart, but ideally I'd buy anything under $4 and set a stop loss at $3.50 or so, if this area holds my...

Trendencies

This is my current thought on the DJI 1-Hour chart: Just to put into perspective of where we are currently at: Since this downtrend has started after the ATH of $29.5k, we have since then completed 3 waves and we are currently on wave 4, which should be an ABC. We have finished the A wave and are currently on wave B, and I think this is a possible area of...

Trendencies Updated 

Here we have a solid potential ACB play going long: To keep it simple: We have had Waves 1-3 and we are currently on Wave 4 as a retracement wave. Right now is a prime buying opportunity at 87 cents and below (.87-.84) - setting a stop loss below the top of Wave 1 (Elliot wave principle would be violated if the SL is hit) at 78 cents to be safe. 2 Sell...

Trendencies Updated 

Here are my current thoughts on Microsoft: The whole market has obviously been taking a beating and will likely continue to do so in the near future - However, everything happens in cycles / waves - and I believe we are approaching the time for a relief rally and I will explain why. We can see that MSFT has been down-trending (like everything else) in what is...

Trendencies

As you can see, SQ appears to have completed an ABCDE correction, and it has just now created the first higher high after a series of lower highs. Bullish divergence on the RSI - leading me to believe that there will be good upside to this. Time will tell! Thoughts? Agree or Disagree? Let me know in the comments below! If you enjoy my content, please feel free...

Trendencies Updated 

*I apologize if this looks like a laser-light show* I believe now is the time to short TSLA if you haven't done so already. The prime time would have been to do it above $920 in my opinion, but, nevertheless, we had a text-book parabolic rise which ended with a high of $968.99, and the best time to short a parabolic rise is when it attempts to retest the previous...

Trendencies Updated 

Areas of interest / buy-zones for RAD (my opinion of course): The golden pocket retracement of our entire 5 wave structure up (.618-.65) which is between $13.44-$13.27 which also coincides with the Gann Fan support line. My 2nd area of interest is the 1:1.236 extension of wave A within the ABC retracement which would be $13.03. From there I would ladder my sell...

Trendencies Updated 

I'll keep it simple. BRZU has been playing within an ascending triangle and is now near support - Easy R:R play with good potential to play out. Appears to be nearing the end of a long-term downtrend in my opinion. Thanks!

Trendencies Updated 

As you see here, the DJI has been taking a beating obviously. I try to keep my charts to a minimum when possible. Here we can see that it is just now touching a diagonal trendline support. RSI is below 10. DMI is above 50 which means the current trend is exhausted. I expect tomorrow to be a relief rally with upside. However, the market is becoming shaky and the...

Trendencies

Do you think the overall market sentiment/psychology is beginning to shift or change due to the current outbreak of the corona-virus? The current chart you are looking at has a Gann Fan placed at the DJI's all-time low price from the year 1932 that was a result of the Great Depression that started in 1929. If you are unfamiliar with what a Gann Fan is - it...

Trendencies Updated 

I know a textbook "Golden Cross" is when the 50 MA crosses over the 200 MA. I personally use EMAs and I prefer to use the 55 EMA (yellow) and 200 EMA (black). Regardless - We are about to have our FIRST Bullish EMA crossover / "Golden Cross" on the daily chart! Also, It appears that we have completed a 5 wave structure up leading to this symmetrical triangle...