Pattern: Fibonacci Channel on 4H.
Signal: Buy as the index seems to be replicating the February/ March 2021 fractal. Every pull-back on each Resistance (R) is a buy opportunity.
Target: $35100 (Resistance (R)2) short-term and $35500 (the 1.382 Fibonacci extension) long-term.
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Pattern: Bullish Megaphone on 4H.
Signal: Sell as the price is close to the Higher Highs trend-line of the pattern with the MACD flat.
Target: 3320 and if 3310 breaks, extension to 3270.
Most recent S&P trade:
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Pattern: Bullish Megaphone
Signal: (A) Buy as long as the 3200 Support holds, (B) Bearish if it breaks.
Target: (A) 3325 (just below the Higher Highs trend-line), (B) 3150 (just above the Higher Lows trend-line).
Most recent signal:
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First off, please don't take anything I say seriously or as financial advice. As always, this is on opinion based basis and not meant to be taken seriously. That being said, let me get into my opinion. FR40 which is a French stock index for the Euronext Paris, have been hit pretty significantly as a result of Covid19 after being on a bullish recovery for almost a...
This is a DJI comparison of the Great Depression and the phase that preceded it against the current COVID sell-off and the phase since the DotCom bubble that led to it.
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As you see both time phases are Megaphone patterns. Both started on high...
Pattern: Channel Up on 1W.
Signal: Bullish as the index is close to the Higher Low zone (green triangle) of the pattern. The 1D RSI is also on the multi-month Support Zone.
Target: 3390 (just below the 1D Resistance)