i feel the correction is still not over for the stock.....it might come back to the yellow dotted line, which will be a good level to buy...
AMEX:SPY This idea is a reminder to myself to keep it simple. Divergence + Trigger Line Energy Point + Fib Confluence Right now we're in No Man's land, which is not great considering I dumped my long position on Thursday. #Transparency If we get another retest of that lower ML-H, that's a great spot to enter long. (Yellow Oval) I'm hoping to get another...
AMEX:SPY Near term SPY rally to 400 0.618 Fibonacci + (ML / ML-E / ML-H) Energy Point + Divergence Fat_Fat
TLDR: THE SPX HAS JUST RETRACED 50% OF THE UPMOVE IN PRICE SINCE MARCH 2020 IN 50% OF THE TIME; THIS PROBABLY WASN'T A BEAR MARKET, BUT A TECHNICAL CORRECTION The 50% Rule of W.D.Gann states that an asset will usually retrace 50% of its range in 50% of the amount of time that it took to establish the range. Doctor Alan Andrews described the Action-Reaction...
stock appears to have completed the 4th wave correction of primary cycle.... right now in the second wave decline of the 5th wave .......taking support at the 61.8% and upper median of white pitchfork.....
BINANCE:BTCUSDT COINBASE:BTCUSD Between NOW and the entry area, you can open a long position in two steps. If the price rises and reaches the risk-free level, you can risk-free the position. TP1-2-3-4-5 are on the chart. The optimum stop-loss is below the determined area. !!! If the bottom of the channel got broken with a strong candle, find a suitable...
KUCOIN:ONEUSDT Quick Short Idea, Harmony primed to dump to the ML.
AMEX:IWM This isn't a prediction. In fact, I think a full retrace is unlikely. However, I want to leave it as an idea to see how the chart unfolds.
AMEX:SPY SPY has perfectly tested & wicked off the 200 SMA and trigger-line of the descending (red-dashed) fork that held price from late March through July. Upon testing the trigger line, SPY is starting to show some bearish divergence on sub-daily timeframes. If this trigger-line manages to hold, I'm expecting a move lower to the new (yellow) fork's median...
NASDAQ:QQQ Very simple chart... QQQ broke up out of the original fork (Yellow). Price appears to be stalling out at the trigger line (Yellow-Dashed). In addition, I plotted a warning line, using the 2.0 extension of the fork's median-line parallels to show another potential resistance area. (Yellow-Dotted) Assuming that the Q's fail to sustain the rally...
After reaching the higher pitchfork line (blue arrow) SPY went back to the same pitchfork line as earlier (red oval)--see related ideas and my notes there. At this point I expect it to go back up again. If that doesn't happen in a short time (1-2 weekly bars) SPY may fall more. If it does, which I expect, the it will likely break through the earlier resistance...
Both on weekly and monthly chart SPY reached a couple of pitchfork lines (in both cases a bottom one and a middle one) and is likely to bounce back up.
In the previous post, I forgot to show that, as you can see, the price intensified its downward trend due to hitting the median line from the bottom, but now it has not only broken the median line up, but is also supported by it. The position of the forks (Hagopian) shows a powerful upward movement. Personally, I think we may be at the beginning of a long-term uptrend.
NASDAQ:NVDA NVDA running into the U-MLH of this fork, in addition to showing bearish divergence and a Bearish RSI swing rejection on the 30m timeframe. I'm expecting a drop back to the lows, or potentially further to one of the lower fibs .702 / .786 (Covid Low to Market Peak) It's a wide target area but I'm hoping to take profit on the next test of the...