ALRM - Head & Shoulders - BullishALRM - Head & Shoulders formation with a bullish entry
day closed with high volume - trend reversal
Headshoulders
INVERSE HEAD and SHOULDERSif it completes it before the french elections it has potential, otherwise...
PalladiumVery interesting market Palladium. Can make a lot of money fast, or loose it all. Been watching this for a couple of weeks now. If you don't know, Palladium is used in catalytic converters. Since the drop in oil prices for 2016, the car industry have seen an uptrend. 2017 may shape out that same way as there is too much anxiety that the OPEC agreement won't amount to much. Since Palladium is scarce, this market may continue to rise. March and June Palladium have been building out a head and shoulders pattern. Right now there is a bullish flag forming.
Unlike other markets, this market produces textbook signals. At least so far. The grid is based on a $2000 dollar move. If you had the courage and money to play this market since September 30, you would have reaped $54,000 per contract.
CornMay Corn fought back after Trump called the president of Mexico to ease tensions after tweets. This market is above the 20 day moving average. Last 3 candles are rejecting lower prices. Mexico is a large buyer of US Corn, so if these talks falter, Corn may continue downward.
We could also be looking at a head and shoulders pattern. Neckline coming in at 360'6 support from back in September. Possible trade down to 78.6% area to build out the other shoulder.
Lastly, an Elliot Wave is here (plotting will just make this chart even more busy). Leg 4 has completed and the last leg up would complete the butterfly. A lot going on for just one market.
March AUDThere is a large head and shoulders developing on the USD index that should in the coming weeks propel the AUD, CAD, NZD, BPD, EUD, upward. The left shoulder and head have been created. Looking for the right shoulder in the next two weeks. Elliotwave was breached in the last two days by having position 4 enter position 1s territory. Gartley pattern still intact. Could be a small 38.2 retracement before rising. Depending on where the neckline is on the USD shoulder comes will dictate how much further AUD will fall. AB leg of the Gartley may also not be complete. Could run higher.
Head and shoulder pattern complete The head and shoulder pattern is now complete. Now we are waiting for USDJPY to come back the the neckline. We wait for a confirmation before entering the trade.
Alternatively we can enter the trade at 117.820
Chevron Corp.: How about a Swing?The Head&Shoulders on Chevron Corp is still valid, until the rejection level is breached. Although the Throwback faltered, which has sent the equity towards the rejection level, breaking out of the Neckline, will send CVX seeking 77.31, with 82.73 as a primary objective.
