In this chart, I take a look at the chart from the perspective of measured moves and where likely algo supports and resistances are likely to be found. I measured out several FIBs from 0 to the previous few tops and from the March 2020 bottom to the previous few tops. When doing this you can see a very clear pattern of similar FIB groups ie; .382s in a range, .5s...
HI TRADERS ... Price in top of broad bear chanell i think sell Double Top and scale in higher price and hold to Measured Move based on height of trading range or bottom of broad bear chanell is profitable strategy
Bullish Harmonic Pattern has been completed. Buying opportunity. USDCAD - LONG ENTRY PRICE - 1.26480 SL - 1.26000 TP - 1.27700 Please leave your comment and support me with like if you agree with my idea. If you have a different view, please also share with me your idea in the comments. Have a nice day!
Hello everyone. It's been almost 11 months since I posted the idea titled 'Bearish view on SGDCNH(potential low 4.63)'. You can refer to the linked idea below. Yep, I'm right about the direction and move. SGDCNH fell sharply by move then 2000bps since I published the idea. I can see the downtrend line is still well respected. Price seems to be consolidated for a...
NO!! It's gone Ape-S**TT!!! Melting Up; Short here = Suicide. Could get a Measured MOVE from the Breakout point 4593; +249 push to 4842?!? Watch these Indicators for a pivot. Near-term Short entry for a technical pullback at WT crossover when RSI overbought and a 5-wave EW in RSI appears; NOT before! Do not hold this short for long term, purely a day trade from...
In a broadening wedge a descending megaphone pattern is characterized by five reversals, up-down-up-down-up, each swing is wider but price is constrained within the wedge pattern, without break below lower TL. The finishing move is a crushing bearish move to the lower TL. Price came down to 200 DMA. Will it hold? Wayyy Oversold! The pattern is a bullish reversal...
DEN (Denbury Inc) is an oil and gas company that focuses on CO2 enhanced oil recovery. Boring right? I assume that is the reason it has been under the radar, after all, Technology tends to get more attention. Since September 2020, when it IPO'd, DEN has increased by over 300%. There are 2 potential measured moves, one by using the horizontal range transposed on...
The price is below the Major Resistance Level. Consider the development of the South Impulse. First target is next Demand Zone. CADJPY - SHORT ENTRY PRICE - 91.650 SL - 92.500 TP - 89.830 Please leave your comment and support me with like if you agree with my idea. If you have a different view, please also share with me your idea in the comments. Have a nice day!
Hello everyone. VIX just caught my eye for its floor level of 8.67 on the weekly chart. I applied measured move to guess when the spike might happen roughly. Guess what? It's Aug. next year. Don't take it too serious, nobody knows what will happen then. By measuring the date between the spikes on the weekly chart, I started to realize no matter what things...
Irrational Exuberance! Bad news is good, good news is gooder! The gaps tell all. Measured move from the runaway gap ought to end up around 388 +/- 2 pips. There must be and certainly will be a pullback from a last exhaustion gap, may gap up sometime 1-3 Nov. Fed minutes on 3 Nov may be catalyst for pullback. Likely pivots shown, 1/3 speedline most likely, given...
The price is below the Major Resistance Level. Bearish Harmonic Pattern has been completed. Consider the development of the South Impulse. First target is - POC. USDJPY - SHORT ENTRY PRICE - 114.200 SL - 114.700 TP1 - 113.700 (Breakeven) TP2 - 112.100 Always follow the 6 Golden Rules of Money Management: 1. Protect your gains and never enter into a position...
Potential bull flag forming on the Binance Daily BTC/USDT chart. Channel (flag) measured move up, could send price into the golden pocket area of the fib extension. Channel break down will send price to the bottom of the blue long term trend line. Red pole's measured move could send price to the 100% fib extension area. The larger yellow pole could move it...
MM #5. PT is $83.9. WTI wicked the top of our green box and up we went. Beware of oil: it loves to go deep into highs before dumping. The opportunity could still come again. Bearish divergence. Please like and share if you appreciate this market update. We are algorithmic traders and certified Elliotticians. We publish Elliott Wave counts for indices, stocks,...
This is my wide look at the market, while I am testing usage of TradeStation brokerage on TradingView for the first time, and it is working marvelously!!! I am building a short of the index using MES, using a quick stop if I am wrong. High R:R trading, but often immediately wrong playing the oscillation at the edges - as that is where new trends are confirmed...
Semiconductors/chips continue to be an essential part of everything around the globe. For a year, we have maintained an upward trend, which is being tested today. There are clear outperformers in the industry, but it is clearly been working for all of them as a whole. When we have touched the trend line in the past, we have had a 50 point gain, which has...
Gave up 1K pips and entered consolidation zone. Forms pennant on flagpole, probably only halfway down. Can backtest higher before measured move; or complete a flagpole formation from this pennant. Price action has been muted; small moves, no huge red days, yet... Trade at your own risk or just stay out and watch the damned thing. Churning moneypit IMO; GLTA!
$50,086 target upside breakout, $40,318 target downside breakout. We are losing negative momo on the daily, something to keep in mind.