HedgehogLanding

HedgehogLanding Updated 

Basically and continuation of previous published idea. Wave counts have been updated and the low at Wave 2 sets the lower channel. Wave 1 ended and was followed by and expanded flat Wave 2. Continued movement above the bearish downtrend channel continues to give great confidence we are seeing a trend change to bullish movement. Friday's closing looks to have...

HedgehogLanding

Based on Elliot Wave counts from another source, I believe the low at 67.71 is in and Wave 1 is completed at 76.18. The bottom of the channel will complete Wave 2 at the same level. Likely will see another low in overnight trading to come to .618 Fib level seen on the chart and then see prices start to move up. Fib levels are not hard and fast and Wave 2 can...

HedgehogLanding Updated 

Bullish tendency on the hourly. Channel within a channel and will look for a break in the trend with a break of the lower channel.

HedgehogLanding

My assessment of the current consolidation pattern for the S&P 500. 15 minute chart so just under the limit for publication so this will pan out fast. Buying climax occurring on higher volume and subsequent rallies on lower volume. UTAD is testing demand and looks like there was a wide range price bar with low volume which may be signaling that demand is...

HedgehogLanding

I think we are coming to an end of this downward move for now. It's possible we go up for a bit and then down some more typical of a correction. This is an hourly chart finishing up on a 5 wave pattern to complete Wave 5. You can have overlapping waves on an ending diagonal and think price will respect the channels that are drawn. My hit rate on these...

HedgehogLanding

Been some rough days for the bulls lately. I've update my Wyckoff trading channel. Friday's trading was very steep and high volume that may, just may indicate a selling climax. It is possible we get another low but I count 5 waves over the last several days which could indicate the finish of a C wave in this correction for an expanded flat or zigzag. Pure...

HedgehogLanding

I was a bit surprised at the upward movement but still maintained a correction sequence based on Elliot wave theory. I was counting that upward movement as a Wave 4 correction and came close to invalidation by overlapping Wave 1. Close but no cigar. I think we will finish up Wave 3 on overnight trading and into tomorrow's session with a nice correction and...

HedgehogLanding

Riding the fence tonight providing a couple of options for price movement. This is looking like a really nice Wyckoff consolidation pattern but time will tell whether it is accumulation or distribution. The effort (ie volume) is in the red candles with increasing volume vs decreasing volume on consecutive green candles. Personally I think this is a massive...

HedgehogLanding

Update on Wyckoff Trading channel that I've been publishing for a while now. There looks to be at least a couple of other channels based on resistance and support lines and have those indicated on the chart. Today's price action bounced off one of the channels. Large down moves continue on higher volume which to me indicates a bearish bias to the current...

HedgehogLanding

Labelled possible Wyckoff Distribution trading range.

HedgehogLanding Updated 

Looks like a Wyckoff accumulation channel is completed and looking for higher price.

HedgehogLanding Updated 

Looks like overnight trading completed what looks to be a nice 5 wave Elliot wave impulse Wave 1 on the hourly. I have place fib retracement levels for possible correction. I don't think it will go very deep. I think there are trapped sellers from yesterdays move that the big boys don't want to give a chicken exit to. Trade at your own risk.

HedgehogLanding Updated 

Looks like second time is a charm. Price broke below the channel and continued downward. I believe a double zigzag correction was completed as seen on the graph. Interesting that W=Y and thus forming a deep correction. I believe the up move to complete is the start of the next impulse wave and ended today at previous support.

HedgehogLanding Updated 

ES S&P 500 is developing a nice consolidation pattern that looking to evaluate it as an accumulation schematic. Price penetrated the lower trading channel on lower volume than the previous two trading days indicating exhaustion by sellers. Price ended in the lower resistance channel on Friday's close. Expect a short downward movement to open the next session...

HedgehogLanding

Relatively large downward movement at the open on low volume. My previous Wyckoff does not fit the current low so will publish an Elliot Wave count. Looking at an ABC Correction with Wave C on Board so can expect more downward movement. Looks like on a higher level we are in an extended Wave 5 so this correction likely to end soon and resume upward movement.