Longterm ES ChartThis is a monthly chart that shows important relationships in terms of price and time. As we can see, through the 2008 crisis the market plunged almost 60% and saw around 350% increase thereafter, painting an all-time high in September 2018. Currently, the 10-year-cycle is seemingly done and another big selloff in the equity market appears to be zooming. The 25%, 33.33% and 50% areas from the all-time high are potential targets and reversal zones. Selling into strength seems reasonable here.
Gannangles
The Current Oil Square USOIL working the 1/3-1/2 square both price and time wise from the recent high. You can see the dashed horizontal support and resistance lines based on the aforementioned square range of 1/3 to 1/2. If bulls manage to turn this around, the first thing they will have to do is break beyond the descending 45 degree line of that highlighted 1/3-1/2 square.
SPX Daily analysis Today opening will be relevant to understand which will the market reaction.
In this moment my primary idea is: market want to continue his down phase. In this case i think we could see a small bounce near to 2450-2440.
If the market had to arrive on this level we probably see a bounce.
In case of this idea will be confermed, I will update the analysis as soon as possible.
SPX critical situation As you can see on the image the market now is testing the 1/2 Gann Fan. If the price had to broke this level the situation will become critical.
The 2540 level is important because if the price will go down the main trend for this market change from bull to bear.
In this case first target can be 2350 and i think i will go short. If the market reject this idea i will update my analysis trying to find new buy&sell points.
Next targets will update in future.
Still A Coiling PatternThe oil market was still unable to overcome resistance and during late hours gave back more than half of OPEC cut announcement gains. Next week is likely to be very active, as there is a lot of additional interest, the moves are expected to be quite violent. There is no clear signal of a breakout either way, following the market inertia by looking for limit buy setups around the pullback to 5150 area seems reasonable for now.
USOIL Possible Bear Continuation Targets USOIL is being well supplied after pulling back to the grand 45 degree line coming down from the top. If 5000-5050 area fails, the bear case becomes more relevant. Assuming pre mortem conditions, the inventory report turning this around and supply being dried up by incoming new demand, it is reasonable to look for entry opportunities on the lower timeframes. It's better to get out after being proven wrong shortly after entry than hold the bag for who knows how long.
Potential Breakout Trade on CLF2019 This chart is an attempt to show possible support and resistance lines that have been coiling the market lately. Bears did achieve a slightly lower low but were unable to follow through, an event that shows a change in market structure . If bulls can close higher timeframes above the 15 degrees resistance line, a stop buy setup approach seems reasonable. However, if bears manage to break the 15 degrees support line coming up from the current low, stop sell entries can be initiated. There are also the support/resistance entries, betting against the breakouts, which were the successful entries so far in this coiling market.
USOIL Potential Continuation ShortUSOIL is likely to pullback to around 5220 where continuation sellers are expected to enter the market. As for now, buying any minor pullback to 5085 towards the 5220 area and flipping short around there seems reasonable. Shorter timeframe for trade entries and thorough risk management is of utmost importance. It is better to get out of the market with minimal loss than hold the bag for weeks. This is overly a bearish market and the previous times sellers were too eager to sell and didn't wait for any significant pullback. There's a sense of urgency in the market and people are selling any pullbacks so being careful with longs is a must.
DXY Potential Supply Zone AreaDXY is seemingly approaching an attractive supply zone around 98.50. As mentioned in the earlier posts on DXY, we have an important gap zone around that area. Furthermore, there's the 15 degrees angle line coming down from the top at that same area, that is if the DXY trend is being measured with 20 pips per week ratio. It seems reasonable to look for shorting opportunities around the 98.50 mark. Lower timeframe for entries is the preferred choice. Strict risk and trade management principles are the most important in being a successful trader.
Monthly View On USOIL This is a monthly chart of USOIL with time cycles from important tops and bottoms. As shown in the chart, the current decline in oil started after 26 monthly bars since the bottom of $26 and around the 1/2 price area from highest selling price. Possible major pivot around the $48 area, which is the 1/3 of highest selling price of oil. If that goes, the next important area is the 1/4 of highest selling price around $36. It seems reasonable to look for long-term pivot around these price areas.
The original Gann line.His original book said you must make 45deg line move 1 point a day. (I mean 1p=1usd)
AKA 7points a week on weekly chart.
But how do we adjust it to btc and other thing like futures?
It must be wrong to use 1 point as 45deg on btc.
IDK How we should adjust it. Maybe you guys have good ideas?
Please comment if you have your thoughts.
On the APPL it's two 45deg line and the move 1 point a day. (100 fluctuations or 100ticks)
Maybe we should not look 1usd/1d but 100flu/day ?
USOIL Another Push Lower It seems yet another push lower towards the 5875-5950 area is likely at this point. The 45 degree line from the marked blue square is anticipated to attract demand at that point. Until then, shorting into strength seems to be the way to go. Limit sell orders around 6085, the 15 degree angle coming from the recent low, tight stops and 1R-2R targets seem reasonable for now.