August 2016

Last week, the market has extended the previous week’s bar, making a new all time high first, then dropping almost to the Daily lower band with a huge Daily range bar. Notice that we have a new megaphone pattern emerging. The megaphone pattern is a disaster for trend trading, especially by entering after taking out a Read More

The passing week was another week of sideway action, expanding the range from above and below, closing at the middle of the Weekly range. Finally, it has reached the target for the AB=CD pattern suggested after the Brexit news recovery, at 2189. The passing week can still be treated as a bullish pinbar, where a Read More

The passing week printed a narrow range Weekly bar with lower volume, very typical for August. After taking out the previous High, the price folded into the former range, just to reverse and continue the move higher. I mentioned this behavior of the Megaphone pattern in the last review. The market has triggered the Weekly Read More

The last 3 Weeks were wonderful example to how market manipulation can take you off course, as twice the market gave you a buy signal by taking out the Weekly high, and twice this breaking up of the Weekly High turned out to be a false thrust, just to see it reverses again after extending Read More