AuthenticTrader

AuthenticTrader Updated 

Price completed a bearish engulfing Yesterday. Trading close to four year high. Case can be made for the Elliot Count I have labeled as it violates no rules for the impulse wave up, and the correction wave guidelines for corrective waves are pretty clear. So it looks like we are just starting wave C down, which normally has a length approximately the same as...

AuthenticTrader Updated 

First, credit for this idea must go in large part to our esteemed Alexander_Nikitin, who posts so may solid trading ideas here, using his XABCD pattern strategy rules.This idea of mine comes from his post linked below on USDCAD, and is another example of an idea that has been percolating form a while. As I have been studying both Elliot Wave and harmonic (XABCD)...

AuthenticTrader Updated 

This is on the 1h chart, to show you the strength of this entry point. Looks like 61.8 is the retracement number for this move. On the daily chart it has just retraced 61.8 as well. Anytime you see a similar pattern repeat and end at same FIB number in two different time frames, at a key s/r level, that is a great potential reversal. For the Elliot folks, the...

AuthenticTrader Updated 

I normally wait for a candle reversal, but this looks really good. Lots of volume, price is stalling at a key area of support...former resistance that marked the top of wave 1 in previous impulse wave, now acting as support Connors RSI ( yellow Squares ) registered it's lowest since November indicating extreme oversold. (Check out previous low readings...

AuthenticTrader Updated 

The dark force wants you to sell. On the hourly chart we see a test of support formed by a rising window gap around 14. Short term Elliot count shows this to be wave iV down. Elliot says wave 4 never goes into wave 1 territory, and candle stick resistance of rising window very strong. Hang in there, as I said on my daily post...STM still poised for a move up. If...

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This one seems like a no brainer and makes me want to short now even though my strategy calls for me to wait for a candle reversal. Price has tested this area multiple times. And the long term EW count supports it. Stop nice and tight just above the resistance area.

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This is one where everything in you screams DON'T BUY. Here's why I did. I'm in @ $6.35 two days ago when My Connors 2 Period RSI strategy ( yellow squares ) met all conditions, AND it had just completed a nice XABCD pattern I normally wait for candle reversal on the daily, but the EW count on the hourly looked good - starting wave 3 up, so I entered. As you...

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The crowd says short, short short. Well let's look at this. In the mid term we have to be long. Price has TOUCHED THE TWO YEAR LOW. Two days ago we had a bull Sash candle complete. Connors RSI indicates oversold. TSI moving up. We see an Elliot Wave count indicating wave 3 has completed. Finally, we have a bullish XABCD pattern that has completed indicating a...

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Been riding this pony for while and it is time to jump back in. Two Falling windows have formed, indicating a reversal is due, the top part of the patter forming resistance. Today price gapped ABOVE BOTH of these indicating the pullback failed. Note also on the move up we had four rising windows, all but the last one confirmed. At today's close, we will have the...

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Price just completed a Bullish Hammer. Connors RSI at 10 indicating extremely oversold- Yellow squares mark the four other times this has happened this year. The company's director(s) just bought 24k and 38K, and the corp another 38K. For Elliot it looks like the correction A-B-C wave has completed, and wave C has extended into the area of the previous impulse...

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Candlestick Rising Held as support as we have had completion of Inverted Hammer and Engulfing bull patterns at this same level. Connors RSI below 10. For Elliot folks, please check the count that it doesn't violate any rules, and the retracement/correction has moved back down into middle of wave 4 Price has retraced down into wave 4 of previous impulse wave. So...

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Has tested the 1.3000 support area level multiple times, most recently with the completion of a hammer on 1-12 and a bear sash on 1-18.TSI ramping up with this candle completion. I have a position opened at the sash competition on 1-16. Three black crows pattern failed and price made a higher low. I bought two more lots yesterday in the 1.3090 area. Being a...

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Bullish Kicker on daily chart trading close to 52 week low on high volume with Connors RSI(2) overbought at 94. Also was some big buys and an insider buy. I got in at 25.92 ADX is >30, TSI cross and above zero, and it closed above the 60sma. Also a case can be made for the formation of an intermediate impulse wave - starting wave three which will mean a move...

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Lots of good things happening here. Price is at a key support level that has been confirmed previously by two Bullish Engulfing, and has confluence wit S1 pivot support. Two Bullish Engulfings have recently formed. RSI 2 indicates oversold, There was a close below the lower Bollinger Band. Stochastic has moved upend we have a break of resistance of an ascending...

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Price is at a key longterm resistance area, confirmed by confluence with Pivots R1 and R2. A spinning top / Doji is completing on daily Chart. Doji and spinning tops ordinarily are considered signals for indecision. However in this case, it occurs at key resistance area, there has been a tag of upper Bollinger Band, there is bearish divergence (more clearly...

AuthenticTrader Updated 

Trend is down, and price has tested this resistance area five times, and did not make a new high as indicated by our Zig Zag. Evening star is forming on daily chart, and we have a tag of the upper Bollinger Band. Checking 4h chart shows several bearish candle reversals - most recently Falling Three Crows, and likewise tag of the upper band. Stochastic has...

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Trend is down - Price has just pulled back but failed to exceed high of 9-2. Bearish Engulfing pattern engulfs two days of price action, and has tagged upper Bollinger Band. Stochastic has turned down and signal line has crossed as well. Finally my new "confirmation filter" the Connors 2 period RSI has exceeded the 90% threshold, which indicates extreme...

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Price had been moving down the lower BB. We now have divergence, a double bottom / W pattern has formed, a tag of lower BB with several bullish candle reversals, and price has broken the resistance level of the W. Stochastic up with signal cross. A true candle purist will wait until price breaks the falling window pattern as that is near term resistance. Can...