AMZN Update – October 19, 2017 …

I wrote an update on AMZN yesterday that raised the possibility of the stock making a possible Wave 2 high of a new possible trend or at best a Wave 2 high of a large sideways consolidation pattern (click here).  The stock is about $13 below where it was when I wrote that blog post and it looks like it is possibly testing a break of the weekly broadening price pattern that I have been tracking for AMZN.

You might say … whoop-t-do, price is breaking some imaginary price pattern!!  I say beware when price breaks price patterns, because it could be the early warning of a change in trend.  Here are the charts … Continue reading

WFC Update – October 3, 2017 …

Here is the bigger broadening pattern that I have been tracking since late 2016 …

WFC – Weekly Chart

The broadening pattern seems to be giving traders good levels to trade against … I think that the median line will act as resistance here.

WFC – Daily Chart

The daily chart shows that price is extended here as we push into that weekly pattern’s median line.

Cheers … Leaf_West

Crude Oil Breaking out of the Broadening Price Pattern …

Crude oil futures are breaking out of their downward broadening price pattern …

Crude Futures – Daily Chart

A 3-wave price pattern is likely based on the recent wave structures …

Energy Producer ETF (XLE) – Weekly Chart

I was trying to get cute on my swing long and re-load on a pull-back and it looks like the next pull-back will be at a higher level. 🙁

Cheers … Leaf_West