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The T/A Thread - Charts and Analysis

Discussion in 'Stock Market Today' started by bigbear0083, Jan 16, 2017.

  1. heyimsnuffles

    heyimsnuffles Active Member

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    I really want a pull back to the rate decision low and a drop below 1.06 or maybe closer to 1.05. A test of the actual weekly support would reset this for the mega move to 1.10 IMO. I HOPE THE TRAIN DOESNT LEAVE NOW!

    IMG_2882.PNG
     
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  2. heyimsnuffles

    heyimsnuffles Active Member

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    Also I wanted to throw this chart out. Mexico! I think it has bottomed I wrote on my blog it's the chart of the week!

    I'm buying pesos. And buying Mexico!

    Doubly bottom. RSI negative Bullish Divergence. And the RSI and Price downtrend trendlines are both breaking.

    IMG_2880.PNG
     
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  3. Onepoint272

    Onepoint272 Well-Known Member

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    On the pisso/EWW, what do you make of that delayed dead-cat bounce up to $46.69 that could only muster a 38% retracement of the body slam? Kinda weak isn't it? Not really what I'd call a change of character from the downtrend that began at $73.

    On a larger time frame, this has taken out all the swing lows except one, at $21.52. I would need more convincing to buy the chiclet for more than a scalp trade.
     
    #23 Onepoint272, Jan 21, 2017
    Last edited: Jan 21, 2017
  4. heyimsnuffles

    heyimsnuffles Active Member

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    this is what I see on the peso. Are you really going to short the peso up here? I am longing it. Those trendlines and voodoo TA say the peso is about to strengthen, bigly (Trump voice) :)

    Screen Shot 2017-01-22 at 12.59.13 PM.png
     
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  5. Onepoint272

    Onepoint272 Well-Known Member

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    Just to clarify, your chart above is the USD priced in MXN; it shows about 21.55 pesos to purchase one USD. So when you ask would I short the peso; you are asking if I would go long your chart; would I go long the USD/MXN.

    Apparently you think the broadening pattern you've drawn has significance and the USD/MXN will honor your supply line and go down, and thus the MXN will rise against the dollar.

    Let us say the MXN will bounce higher. That would be a positive to dollar-denominated trading accounts holding the EWW but the components of the EWW may not fare too well in a rising MXN environment. It's a double-edged sword.

    But just to focus on the MXN, below is the inverse of your chart, the MXN/USD weekly bars. I just don't see any broadening trend lines on my chart. Looks like an orderly continuation of the downtrend to me.

    upload_2017-1-22_16-55-20.png
     
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  6. heyimsnuffles

    heyimsnuffles Active Member

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    that is correct. I am shorting USDMXN on forex. Going long the Peso banking on he Peso beginning to strengthen and obviously the dollar weakening.
     
  7. heyimsnuffles

    heyimsnuffles Active Member

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    It is interesting the differences in the charts
     
  8. Onepoint272

    Onepoint272 Well-Known Member

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    Well, they are inverts of each other for one. Also, mine is a weekly, which would be less noisy. Otherwise they are the same.

    The thing you did not point out for your side of this discussion is the heavy volume that came in on the last big move (up on your USD/MXN and down on the EWW). It could be climatic, the big guys could have been buying the peso and EWW. But so far there hasn't been much of a bounce. Which takes me back to my original comment on the EWW. I would have expected a better short-covering rally. But as you know the selling climax (EWW & MXN/USD)can take awhile to print, it is not always the stick with highest volume. So, you may be proven right.
     
    #28 Onepoint272, Jan 22, 2017
    Last edited: Jan 22, 2017
  9. bigbear0083

    bigbear0083 Content Manager
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    No idea why that happened @Baggi but if it should happen again let us know asap. Could have just been a fluke glitch there.
     
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  10. heyimsnuffles

    heyimsnuffles Active Member

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    Baggi likes this.
  11. Baggi

    Baggi Active Member

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    Nice move. Looks similar to the pound move.
     
  12. heyimsnuffles

    heyimsnuffles Active Member

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    that is my favorite bottoming play. Anyone in here caught short like me right now?
     
  13. Baggi

    Baggi Active Member

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    Are you short EWW?
     
  14. heyimsnuffles

    heyimsnuffles Active Member

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    Short the Nasdaq futures...unfortunately
     
  15. Baggi

    Baggi Active Member

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    The good news is, I think we're at or very near the top. I plan to go short before bed tonight, or maybe tomorrow after market open.
     
  16. heyimsnuffles

    heyimsnuffles Active Member

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    Working
     
  17. heyimsnuffles

    heyimsnuffles Active Member

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    AGN, Great Bottoming Chart. Probably one of the best thing to buy stock wise in 2017

    agn.JPG
     
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  18. heyimsnuffles

    heyimsnuffles Active Member

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    I had to post this for my Euro Parity Lovers (Monthly Reversal Bigly) ;)

    euro.JPG
     
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  19. heyimsnuffles

    heyimsnuffles Active Member

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    Ruh Roh... (updated)

    [​IMG]
     
  20. StockJock-e

    StockJock-e Brew Master
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    Is it time to panic? ;)
     

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