H/s formation atm with a base measure and sprt target zone of 3820-3807. A buy alert set for 3820 with a stop 3805. Measured move of h/s and fib measure indicates another attempt at ATH and zone levels 3987 as a primary target to an extension of 4021. All invalidated with a trade below 3807, which is been a pivot on the hourly since 01/7/21.
Trade active
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Bracket order on MES filled. While it traded below my stop, by a .25$, i did not respect the stop and decided to adjust. Glad i did, had 3800 FLOOR broken ( psych level) STOP would have been fully respected. So far NEW stop is been moved to 3804.5, WILL NOT ADJUST. other than that now looking to break 3883 zone up for continuation or a solid minimum hourly close under 3843/3840, to bring my attn to the downside. otherwise hold for T1 3925/ T2 3942/45 ZONE/ AND FINALLY fib extension of original hmnc and tgt zone of h/S 3960/4022.
Cheers.
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P.S. if you dont want to hold or want stop profit levels, you could have a stc at 3849 to cap in 29pts if filled from 3820 ;).
let the rest ride, with a stop of course tho :).
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So far we had a huge a commendable move thru 3883 zone 4hr bar, with a gold cross in the works. STOP is still at 3849 as the 3851 was a "D" harmonic pt. buy signal. 3849 break locks in 29pts, but also signifies the BULLISH harmonic is broken, so ideally why stay in past this right.
Looking ahead now t2 and extension targets remain, hands off, i will be now watching for a break thru the right shoulder top 3926, which would nullify the bearish drop of the H/S, and indicative of a bullish rally setup.
Trade closed: stop reached
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Stop bracket was triggered today, on the break of 3849. Locked in 29pts, if you sold at T1 congrates on your 126pts. /ES is not at double bottomes at time of post 3804.75, i am long at 3807, stop at a new low or 3804, same upside targets with a tight stop, risking 3 of the 29pts we just made.
Hopefully another signal prints, until sitting on hands.
I like you idea and very good. But I still think further to fall yet
HarmonicTA
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@PuckBunny, Thank you for the reply and POV. Seems we both tracked the h/s and a bounce. differ is you see a rejection at the neckline, and totally respectable, plausible, and smart. Im just taking the flip side for 2 reasons. 1. still have another stimmy injection lined up, 2. harmonic pivot was being tested imo, until it does break itll be support, that level is your marked 3812, which is my 3817-3807. yes the trade price broke 3807, but on a 1hr and 4hr frame im not letting a 3pt protrusion kill it. OTHERWISE we are in complete agreement on the RETEST of the NECKLINE, your 3919, but my zone is 3883-3926, only difference.
cheers!
UnknownUnicorn11430563
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@HarmonicTA, thank you for explanation. This make sense to me. And turn out you are right. The 3812 was broke support, but very small break. And it pullback from there which is what you say. I was going for big down move you smaller and turns out righter. Maybe I see thing not really there. Now retest neckline. If holds maybe another drop down to my first target, and maybe big move down to bigger target. I make nice profit still, but should had be bigger. I left money on my table. But I will go long if neckline do not hold. And short again if does hold. It is nice when we all make money. This makes me very much happy.
Love your ideas and I am now big fan. I follow, support and thumb up. Sorry for bad English. It get’s even worse when I be tired. Lol
Your fan,
Miss Bunny.
HarmonicTA
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@PuckBunny, Thank you for your reply, your english is fine. very good for not being your 1st language. As for the trade im now at a profit stop at 3849, per my update 3851 was a harmonic D buy signal. for the time being i know have alerts for 3895- 3883 being the inv. h/s sprt and neckline. those will be triggers to call my attention, otherwise the bull lives. I am aware of a face rip drop so im not TO THE MOON...this h/s could have been the top formation of 2021 but it didnt break down..so i wont short it. bear plays need to break down otherwise it was just a bear trap to rally on. I followed back, always appreciate a different or opposing opinion...we dont all see the same things!