Ascending Triangle is a repeatable trading chart patterns.
Ascending chart pattern will have a directional bias depending on the previous incoming trend.
Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern.
What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline...
Here's the results from my statistical analysis for S&P 500 E-mini Futures on the weekly chart.
S&P 500 E-MINI STATISTICAL RESULTS
02 Sep 19 / 06 Sep 19
CLOSING BETWEEN (at 06 Sep 19):
2877 - 2933: 75% Probability
2849 - 2960: 93% Probability
2821 - 2989: 98% Probability
P.S. This indicator is not for sale and will not be published.
SP500 attacked the 2900 level in Sep Futures to only be thwarted by the 61.8% retrace as well as China saying "no talks"
Expect 2863 to be big bear hurdle here and roll down below, if hold risk is back to 2900
Because we all have a historical pullback to study this pullback against- I feel the majority bias is short. The majority cant trade in the correct direction 100% of the time. That would mean the majority of traders would be profitable. Instead it is a minority that is profitable. The flip side to what everyones thinks is the downside is what follows. This is by...
While earlier this week we all saw quite the large sell-off, only to be in an equal amount of awe regarding the rebound.
In my opinion this is a rebound pushed further by algo's and robo traders. Do we go higher? We could but it doesn't matter. The market will sell-off very hard sometime in late 2019 or early 2020.
Quantitative easing around the world is...
5-3 Elliot Cycle completion completing within a horizontal channel.
Start of Wave 1?
RSI > 50
Entry on a clean break above resistance line. Target the height of channel.
SL zone shown
*Not Financial Advice*
SPX has gone to far on fake in decreasing economy outlook 2019
1) No rate cut FED
2) Economic war ongoing China/Iran
3) Overbounght D1-H4
5) Asian markets and Europe are still not following
6) Goldprise rising.
I expect sonn a hard 3-4 day drop.
Targets are first to erase the huge raise in the last weeks since June 2019.
The chart depicts how the trading plans published in the morning - idea published on TradingView at 9:52am - tracked the market action. You can read the detailed results tracking at our site tradersAI.
Hope you all had a good trading day, and if not, remember that tomorrow is another day of opportunity to utilize the lessons learned and the experience gained....
Mid // Longterm Outlook
Bearish Momemtum continues within the stock market // Indices.
We are looking for the scenario below to occur within the Mid to Longterm for the SP500.
Confluence within this area being //
- 0.5 Fib retracement via our entire Rally
- Daily Demand
- 200 EMA Support
I will be a short term bull once we enter the 2635 range....
The S&P 500 E-mini Futures Daily time
frame is in an up swing with a fib extension
price point 3022.75 about +692 ticks away.
The Daily time frame is at a low price and
at the back side of the old down trend line.
I am going to turn to the smaller time frames
and will look for up fib wave movements and
buying trades towards the daily target.