Their is a lot to study here. Ever since our initial breakout we have not seen a retest on the breakout to test for a support. Each impulse has decreased roughly by 7% each push back up. The last wave was a 7% impulse as we reach the level of Resistance. The decrease in buy percentage could represent a correction to come. 24815 is key break level for upside...
Hey guys, check this shit out... The five wave Elliott cycle has pretty much come to an end (nice divergence can be seen by the fifth wave climbing while the RSI shows an overbought situation with consecutively descending peaks) which is also confirmed by a zone of possible resistance coinciding with the same zone evident on the 10th of March 2020. In this case...
From an economical perspective, Dow has no place at 25k... From a technical perspective, 25k is the confluence of Fibo 61% and horizontal resistance and it should be sold SL must be kept wide to avoid spikes and aberrations and as target 20k should be a soft one
After today's situation, I came to the conclusion that we are in a 5th wave that can lead up to 25 300, AS LONG AS IT DOESN'T GET TRUNCATED 25 300 would match a 0.618 retracement of the big drop to 18 200 If we reach 25 300 and then move back down, it might mean that we would start the 3rd wave (3 out of 5) which would go lower than the first wave (at 18...
Here we are with another go at a dow short after the failed attempt last night (but with some nice follow through longs today). Now we can see a 1hr MACDH and RSI divergence in overbought territory. We can also see an inverted hammer candle showing potential reversal. There should be some downside potential here. These types of divergences are my A* trades and...
Ascending wedge break to the right of long term upward support with highs being hit at 24150 key area of Resistance to test for an attempt at an upward breakout. 23000 is support area for the current range. Weekly crossover for bullish shift and the ema dots are firing green. But, keep in mind that we don't have a close on the weekly till may 4th. Overall the...
Hello, here is my first graph with Elliott's Waves. I m new to this, and it can be totally wrong, but I do see 3 potential short-term targets on the 4h chart. Any of those could act as a resistance and then we would start going back down. I might try a quick LONG with a tight SL if we break the 23 878 and then get SHORT anytime we get close to 24 200 with a SL at...
- RSI is above 60, this is a bull signal for my strategy. - Price is above 200 EMA. - There is a clear Reversal head & shoulder pattern. If all works, we're ready to go. TP1 and TP2 are on chart. Follow Red trend line for SL ( follow 4h close price)
Here we have a lower high on the 1hr chart on the dow after a breakout of the rising wedge on the daily. Nice engulfing pattern too on the 1 hr candle. Its currently trading above the 200HMA but with all other moving averages are crossed under so its good value for a short here. We could expect some selling pressure here in overbought territory and a test in the...
H&S within a rising wedge on the hourly. Higher high has not been made and a reversal candle has formed on the hourly (Confirmed on the 15 min)
In 2020 everything went much faster than in 1929 but could the Dow30 go through the same structure? If in 2020 the A = C becomes the same as in 1929, then the Dow still has room for 25,558 points in the short term. Maybe the Dow will do something completely different and climb to new all-time highs, because everything is only half as bad and the world is back to...
Here u can see price isoving in decending chanel, where risk reward ratio might great. and you can think to buy put,for short term. close down to 50 ema ,and rsi divergin is showing downtrend,as well mass index .
DJI had broke down from the 200EMA. Base on Fibo 1.618 the target is in the range of the yellow box, coincidentally collide with the historic support...jobs are loss from all over the world...not just USA alone. Prepare for the worst...
Today we're analyzing the US30! Bias: Neutral I would like to start off by saying that I'm in the middle due to me leaning more bearish than bullish. Why? Price Action is rallying back towards the high end of the curve where an untouched HTFZ ($27325-$29594) is waiting, but on the other hand I'm bullish with P.A's current movement for obvious reasons. I would...
look at this magnificent bullish divergence with confirmation of the breakout of the RSI50 and the breakout and correction on the FIBO 50% Very tight stop loss and TP1: 25018 TP2: 25698 possibility of hudge
The market has been rallying on positive news of antivirals and re-opening the economy. Could this be the time to go short. Is this rally over? I think so. To me it seems reasonable to believe that we will either retest the lows or make new lows and follow this EW pattern that I have outlined.
Great rejection candle zone within the demand zone. We missed the initial sniper entry - however caught the second candle. Risk free at current - if price falls back into the zone we will re-assess the trade. Let us see. Enjoy the trade.