In this weekend update I have several interesting charts and patterns to share that could show us the road to take for the next couple of weeks. I also found a lot of amazing charts on the web and social media and these will be added to the weekend update (amazon crash pattern, 100 year seasonalities of the stock market and some more great research). Scroll down for the Weekend Update.
During the week, I will share my analysis and trading updates on my trading feed. My 1st account EdwinVandenBerg is up 10.2% since the start of August and the funds will be used to trade the US and European stock markets. For the Crypto Trades, I use my 2nd account PatternTrader11. Since August 1, this portfolio is up 18.6%. Sign up for a free account et eToro and follow my trades.
My bond portfolio (short sovereign EU bonds – The Real Bubble Trade) is a flatliner, not much happening yet…but I’m in no rush at all as this is a long term trading idea and a hedge against rising interest rates.
My portfolio at Poloniex (cryptocurrencies) is up 452% (madness, sometimes I wonder if it isn’t the next Tulip Mania) since the start of 2017 so I decided to tighten the stop losses –> maximum potential, limited risk.
All in all, I can’t and won’t complain. My family is healthy, I do what I love most and I make some money trading the markets. Life is good and I’m enjoying it while it lasts 🙂
Enjoy your weekend!
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WEEKEND REPORT AUGUST 26/27:
S&P500, Nasdaq, DAX,
Over the next 2 days, I will share several charts and trading ideas. The first chart that I want to share is the daily chart of the Nasdaq100.
NASDAQ 100 DAILY PATTERN
I shared this idea a couple of weeks ago…warning for a bearish pattern outcome.
Basically the pattern now comes down to this: next week, the Nasdaq needs to regain strength to the upside, or else it will risk breaking the pattern and we could expect an opposite price effect
–> a sell off.
So make or break!
Nasdaq Weekly Chart
A close > 5750 keeps the bullish case intact. Bearish when it breaks below 5750. Upper trend area at 6000-6100.
S&P500 Daily Chart (left) and 4h chart
I’m a bear into October and as long as the SPX trades below 2489.
Daily Chart – A chance to add short positions in the 2470 area would be great. Low Risk, High Potential Return = 2490 : 2350 = 20 : 120 = 1:6.
A break out to the upside means wave B up is in progress. A break down < 2417 means wave A down and B will come after A is finished.
4h Chart – Struggling with support and resistance area. A break above 2450 activates 2465. A break below 2435 activates 2400-10 as the next target area.
S&P500 Daily Chart Elliott Wave Scenario Analysis
Wave iv down next, orange or black…2350 or 2250.
S&P500 Daily Chart 2015 vs 2017
2460-70 seems like a good Risk:Reward area to short the S&P500
History doesn’t always repeat, but it sure does rhyme…2015 vs 2017
S&P500 Weekly Chart
Elliott Wave – I have 2 scenarios, black and orange, both wave iv down now into October, 2350 or 2250.
Inverted Shoulder Head Shoulder pattern in progress.
A break above 12.300 activates 12.600-700 area.
A break below 12k and the downtrend is likely to be resumed.
CryptoCurrencies Bitcoin and Ethereum
Ethereum Daily Chart
This is the chart that I posted mid August.
And so far, that forecast is holding up pretty nice.
Now, to keep the purple pattern alive, it needs to surge up, fast and furious into the 385-408-450-470 area.
Bitcoin (right top) is having difficulty to break $4500. If that clears, $5k and $6200 are next. If it fails to break $4500, then $4100-$4000 could provide support.
Ethereum daily candle stick looks like it is bouncing off support and ready to fly.
Cryptos on fire again, madness or just a wrinkle in the chart 5 years from now?
This is my Top 6, Stop Loss and Target Prices are set. I’m enjoying these risk free trades from now on as my stop loss is set at break even.
Portfolio & Trades
My 1st account EdwinVandenBerg is up 10.2% since the start of August and the funds will be used to trade the US and European stock markets.
For the Crypto Trades, I use my 2nd account PatternTrader11. Since August 1, this portfolio is up 18.6%.
Sign up for a free account et eToro and follow my trades.
Charts that I found on Social Media…see my Twitter Feed if you want to follow these great minds.
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