ninjabenja

ninjabenja

The following ideas hinge on price breaking out of the current set of triangles to the down side. We've got two concurrent triangles, one symmetrical, one descending. It is not scandalous to state that our over-all trend is still down since $650. A symmetrical triangle will break in the direction of the over-all trend 75% of the time, while a descending triangle...

ninjabenja

Grape trend indicator is telling us to stay short from about the $515 level, and we're watching GRIB for a reversal at resistance, or a break out to what will likely be more sideways. The Yellowish bat is the weaker of the two, having only a .37 'B' point retracement of the XA move. Bat patterns require a .382 or a .50 fib level retracement of the XA leg. The Red...

ninjabenja

This descending triangle is always a bearish pattern, indicating a strong sell signal. Here we see it paired with either a "weak" Gartley or Crab advanced pattern. Technically it's a failed gartley. I call it weak, because the 'B' point retracement of XA doesn't reach the .618 fib levels. To be fair this has more of a potential for the Crab pattern, which would...

ninjabenja

This "Long" position would be from a completed 'D' point at the $566 level. See below for trade plan suggestions. Bats are a retracement pattern and are a deep retest of support (bullish) or resistance (bearish). If this one completes to the D point it typically has a 90% likely hood of reversing upwards bullish. A .886 XA retracement to the D point is...

ninjabenja

Since publishing the bearish bat pattern which completed at the $680 level () I've been watching this Gartley begin to take shape. We've officially hit every key level with remarkable precision and have only the 'D' leg remaining to complete. As with all advanced patterns, it is ill-advised to enter a trade based on what has yet to be confirmed. We wait until the...

ninjabenja

"...Bubbles start- with a circle" I underestimated how much attention this chart would get in just two days with 1008 views to date. Thought I should give at bit of explanation to make it less flippant. Someone in the chatbox mentioned the "235 day bubble cycle" which I'd never heard of. In fact, I'd never done any analysis of the entire daily chart, but that...

ninjabenja

As with all patterns (advanced or otherwise), it is ill-advised to enter a trade based on what has yet to be confirmed. We wait until the pattern completes, then for the highest probability of success we look for confirmation. Confirmation of a continued bearish move lower will be a break of the "neckline" with increasing volume. Already being short since the 9,21...

ninjabenja

I just needed to put it out there... not that I haven't already. EDIT (explanation): There are lots of things a Moving Average tells you. On smaller time frames it can provide potential support, resistance and when paired with faster or slower moving averages at higher time frames, it can become a very effective signal. A crossover occurs when a faster Moving...

ninjabenja

This is not a confirmed pattern until it hits the D completion point, but definitely something to keep an eye on. Here is a by the book on Gartley patterns: www.trade-forex-harmonic-patterns.com

ninjabenja

This analysis was a look back at the amount of time any given major upward move has taken to hit 50% retracement after achieving it's high point. To-date, every single major upward/downward move retraced to at least 50% in the same amount of time (or less) as it took to print the highest high/ lowest low. When measuring these moves (above) I used what visually...

ninjabenja

The chart speaks for itself. This one is spot on. PRZ (OTE short) between the .618 BC extension (at damn near $630) and .886 of XA retracement ($667), which is also on top of the "preferred" completion point of 2.00 extension BC. Here's the "by the book" on a harmonic Bat Pattern: www.trade-forex-harmonic-patterns.com

ninjabenja

I'm honestly getting tired of posting these triangles. I really do use other TA, but I don't like to posting unless I'm at least 75% confident. There is much more going on here than just a symmetrical triangle. Price action inside is moving harmonically, both the green and red arrows are exact copies of each other. The dotted arrow forecasting the completion...

ninjabenja

If you haven't been following @ronfkingswanson or seen the chart he's been spamming TV with lately, you need to spend more time in chat. Targets are in the 408 to 400 range. We should see a bounce to some sideways at previous structure low in the 425 zone before continuing lower to our targets. Meanwhile, if you still have a position in play from my previous...

ninjabenja

Not much to say about this little guy. We are likely to see a break out then retracement to the breakout level before the move continues. Price is being squeezed between the bottom of an old trend channel and the very solid support level of 495. Hopefully this means we're going to see some action soon.

ninjabenja

My previous chart targets were set with the expectation that price would have much more momentum returning to the >430 range. That has proven not to be the case. All signs point to that we *could* break out... yet we don't. And now we're hung up on the low end of a previous trend channel. As long as we stay below that purple channel line- my short term target...

ninjabenja

EDIT: 4/6/14 .... This position was a Fail... My stoploss has been set at 467. We've yet to tap it but this is clearly not looking good for my targets. We've continued higher-highs, higher lows and short of something dramatic, at this point I am expecting to get stopped out. ----------------------------------------------------- Just a quick post of my next...

ninjabenja

FIB TIME!! I just thought I would publish this one for the benefit of wider audience review. A while back I was playing with the fibtime tool and it seemed to not only generate a lot of interest, but was extremely accurate. Of note is that highs and lows are consistently occurring at each fib time band. Notice also that our most recent low (as of today) was...

ninjabenja

If you had seen my last published chart, this one should look very familiar. In-fact, we've had more than one triangle pattern in the last few days and they've all played out exactly as expected. Not much more to say about this one. Hopefully we see our target two in the coming days. There are many who say that we need to see price revisit the $400 level and...