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Evening Star

STRP evening star reversal?STRP is a low float stock (5.82m shares) with a high "short float" of 46.93%. The higher it goes, the more shorts get squeezed and cover their short position, pushing price action even higher. Stock is up 30% / week and formed 2/3 leg of evening star reversal. Will consider long position about 36.75 or short position below 34.40. Will shorts get squeezed today or will this roll over? First glance at the fundamentals and you wonder why this is at $35 when it has revenue more inline with a penny stock than NYSE.
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by MattDeLong
2017 predictions on CrossesFX:NZDJPY The same as other yen crosses it was testing an important support before having a sharp rally higher. Confirmed the trendline from the start of 2015 right at the major resistance level with a massive shooting star on the weekly chart. This level was the neckline of the head and shoulders top which broke down with a huge breakaway gap so there’s a double strong resistance up there. I am definitely looking lower at the moment. The question is - how much lower. As you can see - it has been respecting the lower parallels of the already mentioned falling trendline, so I would say we could probably be looking for a test to one of those as the new support, maybe even trading along to it, all the way to 61.8 % retracement for this whole rally to give another shot to this rising trendline between 74.70 and 76.40. In the longer term, though, I am more bullish and I think we could be seeing the 90.00 level which again is needed to confirm the longer term falling trendline. For full 2017 predictions on crosses click here
Short
by TradeItSimple
NIFTY looks bearish, could target 8400, and potentially 8000NIFTY, weekly chart printed an evening star candlestick pattern with this week's price action failing to make any big gains above the highs plotted at 8968.70. On the daily chart, after a fake trend line break in August, price rallied to make a new high before printing a doji and a bearish candlestick today. Short positions from 8000, could see price falling to minor support at 8688.90 followed by 8400 and perhaps to 8000. The evening star comes after nearly 189 days of rally in the index. Incidentally the highs from early September coincides with the previous high made in the first week of March 2015, after which NIFTY fell by over 21%. Something to bear in mind as the Indian equity markets have enjoyed a stellar rally, especially banking stocks/PSU's with fresh influx of money over the past months.
NSE:NIFTYShort
by justatrader
8/29/2016 WTI Oil Short - Fib levels and candle analysisHello everyone. Been a while since I traded again. I've been holding back since Brexit and trying to avoid trading with the US elections going on but started looking at charts again last week. Today I am entering short on WTI Crude Oil. I have entered at the current price of 46.94$ with a stop loss of 50$. Please use your own judgment if you trade in agreement for your entry and limits. As shown we have a traditional candle pattern of an Evening Star within the last 5 days. On top of this formation we have what may be a double top while coming down from a 76.4 Fibonacci replacement and sitting on the support of the 61.8 level waiting to break under. Not only do we have both of these going on, there is also bearish divergence in Williams %R and Stochastic Oscillator, depending on your settings for them. My stochastic is set to be the same as Williams %R on default settings. I didn't mark it on my chart but you can also see a very large volume for the week on the day of the doji candle.
FX:USOILShort
by miyako.pro
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