First one is the most insane 15 min chart I have ever seen. Last week was ranges from heaven - I loved last week and banked some nice coin on all the ranges that we were able to trade. Today - the day after we have hit 10+% unemployment we get the weirdest looking chart ever seen. Got to admit - its been quite rare to see something like this with absolutely no pull back and no intraday move. As you know I scalped 3 times today - total of 4.25 points loss - quite scary that we did not have a single retracement of at least 4 points off the highs.
Next ....
That one is quite pretty as well. EURUSD made a NICE overnight move but as soon as cash hours opened - nothing, nada, nichts - just kept on trending lower for a descending triangle that should initiate W4 on SPX. The yellow circle is where I got stopped out today - darn. I had overlayed this with ES - you can see the crazyness of the rally in comparison to the dollar. Where is the relationship? I cannot spot it here ... I had said last week that I believe we are on the verge of a big move in the dollar - could it be that the dollar will go even lower then it already is? I expected strengthening but lets see - keep in mind we are talking about a major trend that had been developing so a trend change of this nature may take a wee bit longer.
Saved the best for last ...
Chart is self explanatory - 2 more closes outside this upper trendline and well. If you are a bear you are exciting when you see this chart - if you are a bull you are excited when you see this chart. OR the other way around - a bull is scared, a bear is scared. It seems whether you are bullish or bearish - you should be finding yourself on the extreme end of the spectrum at the moment with all those patterns right in front of our face.
Out of 100 technical patterns - I am sure we can find 30+ good ones with high probabilities here that will put in a great bullish and great bearish case. Lets see how this will look once the month is over.
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