Once the market peaks it’s head just briefly over 1700 then we should know if it plans to roll back down and drop 80 points to start making the right shoulder or if it decides it likes it up there and goes for 1780 area. We’ll have to look for some type of exhaustion move up to reach the 1700 zone if it’s to rollover there.
If they chop around just under it for several days then that will become support and give them a launching pad to not only hit 1705-1710 but to go for much higher levels like the 1780 area. It will be also related to “when” this happens as you have to combine the price level, date period, and news release schedule all together to guess the outcome.
That is possible Rose. I only discussed the H&S pattern that I think they will make. They could also make some other pattern and go up to 1770 as others are pointing out. It’s just a guessing game right now… unfortunately.
The news event will be made up well in advance Peter and released when they want it release. The key here is to see if they make this H&S pattern or if they make one new high in the 1705-1710 area, pullback and then go up and make another new high in the 1780 area.
Or will that rally end short below the 1705-1710 area and make the right shoulder? If they do the inverted H&S pattern and let it play out then the 1780 target area is completely reasonable. Sounds crazy but never underestimate them as we’ve seen many H&S patterns NOT play out in the past.
I would only take 2 positions here as we don’t know for sure which one will play out. I’d go long on the pullback from the 1705-1710 high… that assumes it pulls back? So I’d look for that downward sloping trendline for support, which is around 1625 today and dropping. Going long there is a pretty good bet as you know they will take it up to at least make the top of the right shoulder around 1680 something, or fakeout the bears and blast higher to 1780 something. Either way, you win.
The second position I’d take would be to short the 1680 right shoulder top if it happens in the correct time frame. Meaning that the first week of August (around the 8th) is when I’d like to see it happen, and that’s from a 1705-1710 top to a 1600-1625 low with the move up to 1680 playing out as expected.
If they fool me on the H&S pattern and continue up to 1780 area then I guess I’ll be a even hungrier bear! LOL!
Red, also, some are saying aug 8th as top. but others are saying july25-aug 8 as crash possibility. Robert hit has on site and on yorba tv, warned after july 20 , his site http://astroecon.com/, wrote this:
Jupiter will move into position at 4 degrees
of Cancer on July 16th. .. This slower planet is going to be in close
enough orb of exact as to have an effect from about July 4th all the way into
the end of July.. Mars is trailing right behind Jupiter mid month so is in
reality a MARS JUPITER CONJUNCTION involved in the grand trine which will be at
max effect on JULY 20th. Seems maybe a calm before a storm because as the grand
trine effect wanes the Mars Jupiter conjunction will move right into a VERY
NASTY alignment with Uranus and Pluto called a T square. Yep VERY
similar to July of 2012 when the dereco hit.. Humm.. MARS AND JUPITER will be
squared to Uranus and opposed to Pluto with max effect on July 25th – July 27th
Lets get into some specifics as far as scenarios
to watch for. What concerns me is during the calm down period lasting into mid
July it is a very strong possible that everything seems not just
“normal” but things that would otherwise raise alarm bells will be
ignored..
That’s what ya get for pretending the danger’s not real…. Long trodden
corridors into the valley of steel
EURUSD Chart Analysis: http://niftychartsandpatterns.blogspot.in/2013/07/eurusd-chart-analysis_15.html
yeah.. outside of the 22nd, Bears haven’t got anything the bulk of the year
Gold Support and Resistance levels: http://niftychartsandpatterns.blogspot.in/2013/07/gold-support-and-resistance-zone.html
Once the market peaks it’s head just briefly over 1700 then we should know if it plans to roll back down and drop 80 points to start making the right shoulder or if it decides it likes it up there and goes for 1780 area. We’ll have to look for some type of exhaustion move up to reach the 1700 zone if it’s to rollover there.
If they chop around just under it for several days then that will become support and give them a launching pad to not only hit 1705-1710 but to go for much higher levels like the 1780 area. It will be also related to “when” this happens as you have to combine the price level, date period, and news release schedule all together to guess the outcome.
That is possible Rose. I only discussed the H&S pattern that I think they will make. They could also make some other pattern and go up to 1770 as others are pointing out. It’s just a guessing game right now… unfortunately.
The news event will be made up well in advance Peter and released when they want it release. The key here is to see if they make this H&S pattern or if they make one new high in the 1705-1710 area, pullback and then go up and make another new high in the 1780 area.
Or will that rally end short below the 1705-1710 area and make the right shoulder? If they do the inverted H&S pattern and let it play out then the 1780 target area is completely reasonable. Sounds crazy but never underestimate them as we’ve seen many H&S patterns NOT play out in the past.
I would only take 2 positions here as we don’t know for sure which one will play out. I’d go long on the pullback from the 1705-1710 high… that assumes it pulls back? So I’d look for that downward sloping trendline for support, which is around 1625 today and dropping. Going long there is a pretty good bet as you know they will take it up to at least make the top of the right shoulder around 1680 something, or fakeout the bears and blast higher to 1780 something. Either way, you win.
The second position I’d take would be to short the 1680 right shoulder top if it happens in the correct time frame. Meaning that the first week of August (around the 8th) is when I’d like to see it happen, and that’s from a 1705-1710 top to a 1600-1625 low with the move up to 1680 playing out as expected.
If they fool me on the H&S pattern and continue up to 1780 area then I guess I’ll be a even hungrier bear! LOL!
Problem I see Red is that there has to be a catalyst to crash…some type of news, someone speaking. It can’t just be simply because a ritual date
ES Trend update: http://niftychartsandpatterns.blogspot.in/2013/07/es-trend-update.html
World-Wide Freight
Thanks for sharing Air Freight,i m very happy to get that type of blog.
Red, also, some are saying aug 8th as top. but others are saying july25-aug 8 as crash possibility. Robert hit has on site and on yorba tv, warned after july 20 , his site http://astroecon.com/, wrote this:
Jupiter will move into position at 4 degrees
of Cancer on July 16th. .. This slower planet is going to be in close
enough orb of exact as to have an effect from about July 4th all the way into
the end of July.. Mars is trailing right behind Jupiter mid month so is in
reality a MARS JUPITER CONJUNCTION involved in the grand trine which will be at
max effect on JULY 20th. Seems maybe a calm before a storm because as the grand
trine effect wanes the Mars Jupiter conjunction will move right into a VERY
NASTY alignment with Uranus and Pluto called a T square. Yep VERY
similar to July of 2012 when the dereco hit.. Humm.. MARS AND JUPITER will be
squared to Uranus and opposed to Pluto with max effect on July 25th – July 27th
Lets get into some specifics as far as scenarios
to watch for. What concerns me is during the calm down period lasting into mid
July it is a very strong possible that everything seems not just
“normal” but things that would otherwise raise alarm bells will be
ignored..
That’s what ya get for pretending the danger’s not real…. Long trodden
corridors into the valley of steel