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DU
Duane
Rep: 100
Posts: 1,095
Rat, you would ask me that question. Short answer, lower? But where? Here is a CRAZY chart.
Here we could alt the A and B for a 0 and A to make an impulsive ABCD ( I am lazy but you get the picture) But Clearly the weekly momentum oversold.
Trend lines holding, but something has to give.
Pattern Here is one of a variety
But when it comes down to it, I trade fibs and lines, so I am looking at @1253 That would be ideal for me.
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Here we could alt the A and B for a 0 and A to make an impulsive ABCD ( I am lazy but you get the picture) But Clearly the weekly momentum oversold.
Click image for original size
Trend lines holding, but something has to give.
Click image for original size
Pattern Here is one of a variety
Click image for original size
But when it comes down to it, I trade fibs and lines, so I am looking at @1253 That would be ideal for me.
Click image for original size
DU
Duane
Rep: 100
Posts: 1,095
Still corrective, I am WAITING for a impulsive move with an ABCD.
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DU
Duane
Rep: 100
Posts: 1,095
Thats a huge out of proportion ABCD from 3 to 4. Could that mean 1231 is in play? This is why Jim does what he does. Lines and fibs and pattern, and entry signal.
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DU
Duane
Rep: 100
Posts: 1,095
Yeah so, lets trade it, if we breach either trend line I will look for a retest. The breach of 1288 is a higher higher high. So rat let me be perfectly clear about my opinion. I have no idea.LOL
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MA
MarcinO
Rep: 67
Posts: 5,506
Great charts, Duane!
I guess tomorrow (or just after new week starts) Nasdaq will hit 7650 area.
Assuming, that the move down on daily has not been done yet, I am still not sure this level will be able to send it to new lows. 7725-7750 might be tested next, and given its current propensity for very deep correction 7800 is not out of scope.
I guess tomorrow (or just after new week starts) Nasdaq will hit 7650 area.
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Assuming, that the move down on daily has not been done yet, I am still not sure this level will be able to send it to new lows. 7725-7750 might be tested next, and given its current propensity for very deep correction 7800 is not out of scope.
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RA
rat89
Rep: 0
Posts: 7,015
your xau alternate 9 is my thought exactly....gdx has hd multiple retests, and an .886 Friday, but it doesn't feel right. Where was gld during that big spx down last week? Neither up nor down strongly.
gld has a bear abcd, and C=A at 118.93
gld has a bear abcd, and C=A at 118.93
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Originally posted by Duane
Still corrective, I am WAITING for a impulsive move with an ABCD.
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MA
MarcinO
Rep: 67
Posts: 5,506
Will Nasdaq rise off 7460 zone? I hope they will send it to 7650, but there are some resistance zones on the way.
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AL
albert
Rep: 99
Posts: 3,094
Paper trading on this one. Bought some WPM weekly calls based on the 1234 wfi setup at a STO OS Doji. The gap up after a Doji with STO OS is what Steve Bigelow, a candlestick guy, calls your "Best Friend." I made the mistake of placing a market order and paid too much to get into the trade. :--(
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