********************************************************************************
Facebook Rebound Looks Suspicious
Chaos Clinic for 6/26/2020
********************************************************************************
Facebook has rebounded to new highs from the corona virus panic low in March.
This 4 year weekly candlestick chart suggests that this new high may falter soon.
First, the last weekly bar is a bearish doji, with a big top wick. The high of the
body is lower than 3 of the last 4 candle highs.
The chart has two EXMAS, an 18 bar and a 108 bar. A line across point 1 and 5
and a line from point 2 and 4 have the same slope as the the 208 week EXMA. This
suggests point 5 is at the top of a wide channel.
The slope of the 208 week EXMA has changed sharply, from the 2017 through mid-2018 slope
marked by the tan line, to the lesser slope marked by the cyan line. This suggests a
shift in the long term growth rate.
I've labled points as 1-5, mostly for reference. The points are highs and lows in the 18
week EXMA.That EXMA is now up at its steepest slope on the chart. That suggests the current rally
is a blowoff of some sort.Watch for the down turn in the 18 week EXMA.
Finally, the white trendlines are showing a converging wedge pattern. All this adds up to a red flag to me.
For more on my work, see Moneytide.com
6/26/2020 11:56:08 AM MT Al****:: BTW:note on CC FB was at 233.50. Now 218.11
6/26/2020 11:44:11 AM MT Al****:: I'm done for the day. May be more but I'm tired. Charts will run to the close. Thanks for coming. See you next week.
6/26/2020 11:40:17 AM MT Al****:: Personally, I covered on the stall at 3021. I initially sold first trade time and carried through the second
6/26/2020 11:23:15 AM MT Al****:: here it is helpful to understand the concept of Thrust-Corection-Thrust, which comes from Ellotte wave theory
I don't get all caught up in labeling the points, but it helps
to see a thrust, and am ABC correction here
6/26/2020 11:16:45 AM MT Al****:: one of the tools that is useful here is from the Chaos Trading Made Easy course.
I have placed a CTME chart in the Certified Chaos Trader's Room. That room is open
to graduates of my 4 main courses. See http://moneytide.com -> Courses for details.
6/26/2020 11:14:03 AM MT Al****:: here prices are in a congestion, which may produce some confusing 20/110 EXMA crossings - one needs to see the 440 trend of the day down, set a stop, accept the risk, and accept the results
6/26/2020 11:11:17 AM MT Al****:: this little rally is due to the Exchange rotating past solar noon
6/26/2020 10:47:07 AM MT Al****:: on the third SPKiss chart the last rally touched the cyan 110, but not
the grey 220 -for those who want to hold short the 220 can be used as a stop guide
6/26/2020 10:27:24 AM MT qq:: Thanks Al
6/26/2020 10:21:55 AM MT Al****:: today the MTRainbow chart shows a graphic example of Apell's MACD
one can see the Moving Average Convergence and Divergence
shown by a rainbow of EXMAs rather than in an indicator
There is a tutorial on Trading The MoonTide Rainbow linked on the right side of the ListOfCharts page
6/26/2020 10:15:48 AM MT Al****:: second trade time was a continuation sell on the 20/110 EXMAs at the S1 pivot pricde
first trade entry was near the pivot
these prices are on the SP1Day page
6/26/2020 10:13:39 AM MT qq:: Done guessing. I can't see any trade here.
6/26/2020 9:22:38 AM MT qq:: Now looks to be within trade window. I'm guessing reversal up a little
6/26/2020 9:04:26 AM MT qq:: Bottom & reversal up here? Outside of trade window.
6/26/2020 8:35:17 AM MT Al****:: looks like hard down day - taking a break
6/26/2020 8:11:11 AM MT Al****:: yesterday the 3rd chart on the SPKiss page had 9 or 10 bar color changes, indicating congestion. So far today one. The bars are colored by the 20/110 minute EXMA crossovers.
6/26/2020 7:56:39 AM MT Al****:: you have to be quick when trading against the Flash Boy computers. For a slower pace, I like to use 8 hour bar charts on Exchange traded funds. The short S&P SH EFT 2 month chart is looking like a rally
6/26/2020 7:53:07 AM MT Al****:: I do not call live trades, but note the 20/110 sell on the 3rd chart on the SPKiss page
6/26/2020 7:30:48 AM MT Al****:: on the SPKiss page, the last chart shows a market drifting lower
The 3rd chart on that page is useful for trading the MoonTides
It is a two day "spliced" 8 hour per day chart stating at 6:15 and ending at 14:15 Eastern. It shows trade times as pippers.
The EXMAs help find the trades. Yesterday the late rally was
the best trade. By rule it was covered before the close.
The wisdom of doing that can be seen on the Secret->esNat72 and
es360 charts, which showed resistance at key vibration levels.
Today prices are sagging under those levels.
6/26/2020 7:00:04 AM MT Al****::Good Morning visitors. Welcome to the Chaos Clinic.
The written Chaos Clinic is on the AUX page.
This site has a lot of charts,
so you may find it useful to have several of them available within your
browser. If you have a tabbed browser, you can open separate charts
in separate tabs by right clicking on any link, and selecting "open in new tab"
from the menu. The main list of site pages is at
http://daytradingforecasts.com/chartlistsec.asp
Recommended pages to watch are SPKISS, MTRainbow, and Chat.
For astro stuff, add SPSunMoon, Wheel, and Chaos Clinic.
A special set of Dr. Al's research charts are on the Secret page.
Comments in the chat room are announced by a
"duck call" noise. This noise also occurs when the sofware detects a
resonant hex pattern on the Wheel page. MoonTide trading tutorials
are on the right side of the ListOfCharts page. One should
read Trading the MoonTide Tutorial and Keep it Simple as a minimum.
Many suscribers do not strictly trade the MoonTides, but use the charts on this
site as input to their own trading strategies. For example, the bottom chart on the
SPKiss page is good starting point for swing traders.
Also on this site is the Certified Chaos Trader's Room. That room is open
to graduates of my 4 main courses. See http://moneytide.com -> Courses for details.
6/26/2020 6:23:04 AM MT Al****:: GM all - good luck today
Chaos Clinic is posted on AUX page