Today's focus: US30 Pattern – Diagonal Support – 38,135, 37,135 Resistance – 38,810 Hi, traders; thanks for tuning in for today's update. Today, we are looking at the US30 on the daily chart. What a solid run we have seen till yesterday's CPI data. After US CPI came in hotter than expected, this shocked the market and led to heavy selling on stock indexes and...
2024 Trading Challenge Entry #2: Diary of an Option Trader 💡 Trade Overview: I noticed LLY soaring on the TradingView stock heatmap today. Observing the monthly chart of AMEX:XLE (healthcare sector), it has been mostly sideways for years. However, in the past two days, NYSE:LLY has demonstrated strong bullish movement with increasing volume, indicating a...
MY most BULLISH VIEW .We have now ended a INVENTED HEAD N SHOULDERS BOTTOM THIS IS A WARNING IF YOU ARE AT ALL SHORT DO NOT BE >Five wave down in TLT a major ABC rally is in the cards and should see .382 this would be HUGE SHORT COVERING > I HAVE WARNED YOU IF YOU ARE BEARISH > !!!!!
BTC 1W 3 , 5 wave target 35000 area ABC correction targets 25000/ 23000/ 19500
Chart 4H TF I figure out a Diagonal Wave might be done around 2 or little higher RUNE has Resistance by Previous High around 2 and Support by Ascending Trend Line If my analysis is true, I expect RUNE will come back to 1.72 then up and down awhile So wait and see what happen
We're in an impulse phase, we're currently in a 5th wave phase. The wave 5 could be a potential Ending Diagonal pattern.
Ford, a Popular American AutoMaker has been having a struggling stock performance since its 2021 rally. This stock has continued to rally upwards and melt back down towards this $11-$12 area. What we are witnessing now is a retest of these same levels that previously sent the stock back upwards with volume. I am keeping my eye on Ford at these levels as...
The SNP 500 $SPY is in a corrective pattern which in EW is called an open diagonal where each subwave of 1-5 subdivides as either 5-3-5-3-5 or 3-3-3-3-3. In this chart, I've counted the diagonal as 3-3-3-3-3. Currently, the SNP 500 is making a zig-zag in (b) before continuing in five waves down to complete ((v)) of A. Currently expecting the SNP500 to go to around...
Hello & Welcome to this analysis It is now approaching a bearish Harmonic ABCD and it that process also forming a rising wedge suggesting some profit taking might come in. In the short term stock has support at 175-165 and below that near 150 where medium to long term investors would come in. It has resistance around 184-187, if it manages to breach above it...
As a follow-up to my previous update on the rising wedge situation with Bitcoin, I'd like to share some new developments and provide some educational insights on trading within this pattern. BTC has now reached the top trendline for the third time, and if we're going to see a downward movement, it's likely to occur from this point. A rising wedge is a bearish...
Hello & welcome to this analysis S&P on the eve of FOMC meet is at the slanting trendline with a diagonal ripe for a pullback/reversal 4017 needs to be breached on the upside 3950 if broken then more downside coming
BEAR RALLY SET UP I've had MKC on my watchlist for about a week now. ON January 18th, the 20 day crossed the 50 day and made a new swing low on January 20th. Since then, it had a small bear rally back to prior support resistance of 79.09ish which it hit on the 24th. On the 25th, it traded below the previous day's low, however I waited one more day because I...
Bear Rally Set Up: I've had BAH on my watchlist since the swing low it made on January the 20th. So I set an alert at 96.84 which was around the area of where it closed on January 9th. I wanted to see if this would run back up with lower or equal volume to test at least the 20-day again. With yesterday's candle and it trading below yesterday's low, it triggered...
Do we count this trend line as valid? Taking it from candle body then to wick I'd lean towards it not being valid - however *if* it is then it starts looking like a classic breakout and retest. Vatsik
BULL PULLBACK SETUP: Uber made a new swing high February 8th. Since then, it's been pulling back with lower or equal volume and the price action from yesterday triggered me to get in today. I'm going to give this a couple weeks just incase this wants to pull back some more. I'm set up for max loss risking a little under 2% of my portfolio. My target of 38 was...
So I'm thinking we continue in this downward channel for the next couple weeks. So if that's the case I went with a 394 target. If it gets to my target before the 28th, I'll take half off. Come expiration date if this is at or below 394 I'll close out the entire combo. If we are still above 394, I'll hang on to my 400 strike and manage it.
Was I wrong about OP back in December? Yep. I sure was. I'm not afraid to admit it, either. Nobody is right 100% of the time and if they claim to be, they're lying to you. Alright, now that we have that behind us, lets look at OP from a purely tecnicaly perspective. I'm going to focus on the wavemaster and the momentum indicators and check the confluence they...
Watching BTC very closely here. I'm not really expecting a whole lot of upside in the short term but I do expect some. What I would really like to see is BTC making a new high while equities (SPX) making lower highs. That would be the divergence that is needed to see a bigger drop. Depending on where we top out will make a determination on where we pull back to....