(short in progress) week20 Brent Crude D1 topping out, ready for bearish trend resumption

D1

A resistance confluence is found in Brent Crude. It may be ready to rejoin the 2 years bearish downtrend.

week20 brent crude d1 trappedtraders 100516

h4

A head and shoulders is formed from the resistance confluence. The neckline was broken from yesterday’s bearish trappedtrader signal. Price is ready to move downwards.

week20 Brent Crude h4 neckline broken 100516

Advertisements

week20 SGX Osim at bullflag bottom. Possibility of buyback bounce with technical charting?

I do not trade this counter. But my friend’s keen and vested interested in osim has made me start to monitor as well. I will go through the technical aspects first, before moving on to fundamental/sentiment aspects, something is still new and subjective to me.

w1

week20 osim w1 resistance turn support 150515

On the week chart, price reaches a classic resistance turn support of multi 52 weeks level.

D1

week20 Osim international d1  bullflag 150515

On the day chart however price is currently at the bottom of a bullflag. if price can close above 1.70, it will also be flushing a 2 months low, forming a beartrap. This suggests support and validates the 52weeks level  as seen in the first chart.

If this bottom is indeed true, then price can look for $2~ level.

Buyback:

http://osim.listedcompany.com/newsroom.html/year/-1

This is something new to me. My friend has made the observation that whenever there is a buyback there will be likely a bounce in price. However as a chartist, I seek the possibility if I can align this type of information with technical charts.

In this case if the buyback does really have effects on the price, it has also happened near the bottom of the bullflag as seen in the day chart.  Hence I hope to shed more light in the future, combining both aspects to make a better trade decision.

week21 ( runaway winner, +500) week20 Nikkei w1 clear uptrend , h4 shows inverted head and shoulders

w1

week29 NIkkei w1 hammer 130515

clear cut uptrend on the week chart. Last week price closed as a hammer, indicating of strong support despite reaching

a big level of 20,000. It is hard to say when the trend has ended.

h4

week29 Nikkei h4 ihs completed for bullflag 130515

Price did a retrace on monday, but on tuesday completed a bullish day expansion which also broke a bullflag.

It also completed an inverted head and shoulder, aligned it with the potential upthrust from this bullflag.

Stop Loss can be either set at 19000 , ie btm of bullflag or btm of right shoulder.

updated 200515

D1

runaway winner. Trade still in progress since initial setup.

week21 Nikkei D1 appraoching new highs 200515

updated 210515

exited at top. This was a good trade from the start of the hammer.

week21 NIkkei exit +500 at top 210515

week20 ASX h4 closes below 2 months low , resisted by 52weeks level

week20 ASX h4 short from 52 weeks level 120515

h4

price has crashed for 2 weeks , closing below 2 months low and 52weeks level high.

recent consolidation does not look easy for price to return up. Looking for more continuation down.

Depending on how conservative it will be, Stop Loss to be palced above either 1st or 2nd level of resistance.

D1

week20 ASX D1 Resisted 120515

Day chart shows the current resistance is at. The attractiveness of this short will be due to the tight SL as price seems to be respecting this 52weeks Res cluster.

updated 170515

Price remains supported and short position did not work out.  Unsure of the next move now as it is sandwich between both resistance n support. As a chartist/trader , there is always an option to pass something unclear for clearer picture.

https://www.tradingview.com/chart/AXJO/6W2Ypotb-ASX-Price-reaches-a-52weeks-support/

(updated week21) week20 EURUSD is still a down, currently awaiting the completion of a head and shoulders formation.

week20 EURUSD monthly wr2d1b bulltrap 110515

Monthly chart

On the month chart , last month was a bullish month. However, for the definition of trend reversal to hold true, there needs to be another bullish expansion month before it can be said that this 10 month trend has changed.

however this is not the case yet.

h4

week20 EURUSD h4 WR2D1B with h4 hns macd divergence 110515

on this timeframe, I can see price went above the 2 months high for a few days, before it closed below this level strong.

Pending a strong day close now, I will look to see this as a regret move of eager bulls who chose to buy on a breakout.

From macd divergence, it suggests price may have the potential to top out at around this level.

I am keen for a short, but I want to be prudent as the past 7-10 days had been bullish. I will want to wait for a last retest in the form of a right shoulder before joining in to short.

Will update again.

updated 170515

price did not reach the right shoulder level and showed signs of rejection. Hence this trade was not entered. It was a good case study of staying patient and being prudent in trading.

https://www.tradingview.com/chart/EURUSD/GBXjvqsW-EURUSD-still-in-downtrend/

week20 STI finds support day hammer shown, ready for trend resumption.

week29 STI D1 resistance turned support 100515

D1

After price retraced hard  for past 2 weeks, price found support late last week, first with a day hammer from a previous resistance turned support level.

This came from a classic zig-zag uptrend.

Price registered a bullish day close last Friday.

On week20 an intraday retracement should provide good discount for long entries.

( 50cents) week20 WTI shooting star towards multi day support

My pre-trade analysis

week20 WTI D1 shooting star @ 2weeks high left shoulder fib6

week20 WIT right shoulder potential 1234 160514

D1

Quick entry quick profit after a shooting star from d1 fib6. Took profit on the multi days box high which acted as support to break before more downside. However, I was not going to wait.

I was happy with this trade as I was able to profit and made a quick exit.
Will monitor the price action here as price is at right shoulder but yet downside support remains heavy.

week20 WTI D1 shooting star @ 2weeks high left shoulder fib6