May Silver has been in an upward trend since confirming the bullish TR pattern in February. The market reached a high of 17.55 before trading lower into the minor reversal swing date on March 9. The pullback stopped at support provided by the median line as well as the 20-day SMA and upward sloping parallel… read more
Tag Archives: Action/Reaction
Reaction swing triggers sell for may Soybeans. [chart]
Wednesday’s rally was stopped by the 20- day SMA and the downward sloping parallel line. The market turned lower and broke below the $9.35 support to trigger a sell signal. This portends a drop to the descending median line and a test of the previous low of $9.11.… read more
May Silver, lower trade into 3/9 R-swing date sets up buying opportunity. [chart]
May Silver has ben in a strong upward trend since it confirmed the bullish TC pattern (formed between 2/19 and 2/23). The market paused for a couple of days and traded lower into the 3/9 reversal swing date. It didn’t take long before the reversal began to kick in and the Silver began to climb back toward unchanged. This should signal… read more
March ES – Potential selling opportunity @ 1146.00 [chart]
March mini S&P is approaching the prior resistance and potential double top. Sell two contracts at 1146.00 with the stop loss at 1151.00. First target is 1141.00 with trailing stop on second position.… read more
Using “Action/Reaction” to project future turning points a price target objectives. [video]
This video shows how to use the median line as a momentum indicator and the reaction line as a target objective in a two different market situations. http://www.youtube.com/Tradersnetworkinc#p/a/u/0/J0xK_GMB8EI… read more
Dow Jones breaks through resistance hurdle, bullish cycle remains intact.
After confriming the bullish TC (trend continuation) pattern on March 2nd, the Dow Jones futures stalled at the prior pivot level and even backed up to test support at the lower parallel line. However, the bullish cycle held and propelled the Dow Jones futures past the previous high with good seperation. This keeps the bullish… read more
Crude oil breaks resistance and continues bullish cycle.
After testing resistance at the junction where the descending reaction line (red line) and the ascending median (center blue line) three times, Crude broke through on Friday. A solid close above the median line should portend a rally to test the prior high at 84.95. The cycle remains bullish until the March 10 reversal swing… read more
British pound completes bearish cycle, due for rebound. [chart]
Based on the 12/29 – 1/19 A-B-C continuation pattern, the Brithis pound has completed the reaction cycle and is due for a corrective rebound or begin a consolidation period. The pound reached the lower reaction line target objective, one day before the final reversal date (projected for March 2, by the reverse/forward count). The lower parallel line… read more
Gold confirms bullish reaction swing, ready to run!
Gold traded above the pivot high, confirming the bullish action swing and a TC pattern. Confirmation of the TC pattern portends a upward swing to the test the prior high of $1166.00 for the short-term, with a longer-term target objective at $1220.00 or higher. I will keep you updated with stop movements in the TMV Swing trading… read more
Dollar turns lower after hitting reaction line on reversal date!
The Dollar index began to show weakness when it moved away from the ascending median line. However, it was not until the Dollar reached the sloping reaction line target objective on the February 23rd reversal date that the bullish cycle was complete. A retest of the reaction line on Wednesday failed and the market turned lower.… read more