The series of three valleys with the lowest bottom in between shaped notorious Inverse Head & Shoulders pattern in Natural Gas futures chart. It's bullish reversal pattern. Price eyes to break above the Neckline to trigger the pattern. Target is located at the size of the Head added to the Neckline break point at $4.67. Invalidation is below the trough of Right...
The price of the second largest cryptocurrency can't raise its head to catch up with elder brother Bitcoin. I detected three signs that the bear trend could resume soon. 1) price broke below 52-week (past 1 year) moving average and during retest it failed to break back above it; 2) RSI is below 50, bearish, also retested the resistance and failed either 3) clear...
Novo Nordisk price has charted a famous and beautiful reversal pattern - Head & Shoulders. We have 3 peaks with the middle one the tallest also called Head. The Right Shoulder inclines down so the magnitude of the bearish move is strong. The dotted line between valleys of the Head is called a Neckline. The bearish target for this reversal is located at the...
SSE had a rally from 2005 to 2007 establishing the all-time high of CNY 6,124. After that, the price had built a weird corrective structure with ups and downs fading in magnitude over a very long period of time. It took 17 years to complete the giant contracting triangle (white ABCDE marks). The pattern was broken to the upside this summer. This is the first...
NVDA stock is in a perfect range between all-time high of $141 and summer low of $91 that was hit within the first leg of correction in wave A down. Recently, the price has retested the upside of the range within the wave B up and slipped back into the established range. This could be the start of the last wave C down to retest the summer valley of $91.
Brent oil is in the giant range of $16 and $150 The price is in the decline within the red large leg 2 down. It consists of 2 white smaller legs. Leg ii is in the progress after a small consolidation (blue). The first downward target is at the bottom of red large leg 1 at $36 The next target is located at the equal distance of red large leg 1 in second leg at...
Back in 2021, I posted about Emerging markets with a title "EEM. Emerging markets could drop within the last leg down" The plan plays out well so far and I found another educational pattern for you on it today. The Bear Flag appears in the chart as I spotted it on time. The price is still within the Flag and breakdown below the downside of the pattern would...
The series of tops shaped notorious Head & Shoulders pattern on 10-Year Treasury yield (TNX). The tallest peak is the Head and Shoulders are on both sides. The Neckline is the support that is built through valleys of the Head. The price has breached the Neckline this summer triggering the pattern bullish scenario. The target is calculated by subtracting the...
EURJPY might have completed the consolidation after the first leg up. The second leg targets 169.40 where leg 2 = leg 1. Risk/reward is huge.
Update of earlier idea We've got the first leg up, then deep retracement (yellow). Now, the second leg up kicked off. Target 151, leg 2 = leg 1
It looks like wave 3 is about to reach its climax soon as EWO indicator shows Bearish divergence with the rising price. Wave 4 down could drop to the valley of smaller wave 4 around $2,285 and touch the downside of very beautiful uptrend. It should stay above the top of wave 1 at $2,085 otherwise the wave count could be invalidated. Wave 5 in commodities is...
Market corrections are tricky and in this post you can see why. Dollar index weekly chart shows signs of large sideways consolidation (aka flat correction, range) after a strong drop marked with the orange down arrow 1. This consolidation passed halfway as we can see all first moves are completed. The first major yellow counter-move is done; it will be connected...
We've got the first leg up, then irregular sideways structure. Now, the second leg up kicked off. Target 151.40, leg 2 = leg 1
Textbook Cup & Handle pattern (yellow) is in progress. The target for this pattern is located at the depth of the "Cup" added to the breakout point. So, the gold futures price eyes $3,000.
A pullback in yellow wave (2) almost hit 61.8% of yellow wave (1). Now we see the strong minor impulse to the upside. It can be a part of large yellow wave (3). The target is projected at the distance of 1.618x of wave (1) with aim at $2,577. Watch how price breaks above the top of wave (1) beyond $2,086 Risk/reward is 1:2.5, one could get it better if goes on a...
There is much noise about dollar losing its king status in the world. The drop in the yellow wave b within a correction could have spurred that speculation. You can see that it was a natural move to retest broken former barrier. It was successfully rejected as the price bounced up quickly. The target for the next move could be around $125 where yellow wave c...
There is a Bearish Harami reversal pattern in the making on the S&P 500 ETF weekly time frame. It looks perfect as a textbook sample. Stop is above last week's top at $445 Target is just above the opening of the second candle of preceding growth at $392
The price could be in a 5-wave sequence of large wave C (orange) to upside. The target is in the blue box in the range of $0.20-$0.24, which represents 1.272x-1.618x of wave A in wave C.