Market is extremely bullish, and likely to try the 4000 USD psychological level to attract more buyers. In any case, we need to see the H1 schematic to play out, and in this case, wait to see what happens in Phase C and D.
Just following the bull trend of higher highs and higher lows.
Right now it looks like another consolidation near support and a higher low from Feb 21st
I think 40,000 is where the market wants to go and will just keep buying the dips.
Today, we're taking a closer look at the Dow Jones Index, specifically the E-Mini Dow Jones Futures. It appears we're in Wave (2), overshooting the target and forming an Expanded Flat correction. If there's a turnaround here, typical for such waves, we might see a correction somewhere between 50% and 61.8%. We consider more than 78.6% unlikely, so we're betting on...
Set up is pulling back to a rising daily 21ema, when green takes out red, buy limit. That would be 39,044.
The weekly 21ema is pointing straight up, indicating higher prices projected.
So far this week has been a slow and steady pullback, a resting bar.
Short term target is 40,000 minimum
Long term target is 115,000 in 2035
Demographics tells me that...
With the weekly 21ema pointing straight up, I am looking for pullbacks for another higher low buy opportunity.
One range expansion of the 2022 high/low will put it at 45,000 as the bare minimum target.
I have a target area of 95,000-115,000 in the year 2035.
I believe price should stay above its rising quarterly 21ema for the remainder of the bull run higher...
After two weeks of consolidation at a rising weekly 21ema, last week's weekly candle broke and closed above both. I don't really see any pullbacks coming soon. First target is of course 40,000 but I plan on holding for awhile as I believe this move just got started. I can see 50,000 in the future as well.
Massive spike out attempt on both buyside and sellside on the weekly timeframe. But in comparison to CME_MINI:ES1! and CME_MINI:NQ1! , CBOT_MINI:YM1! has been stagnant for the past two weeks.
Last week, I was expecting lower prices but the $38,100 manipulation that occurred was something that I thought would hold and we would see a candle body...
Today closed at the end of the session with a bearish engulfment and a pin bar wicking into the top 50% of said engulfment. I am seeing the 21ema start to flatten out and possibly roll over with massive space between the 21ema and the 200sma.
Friday I think will be a choppy/range with a slight bullish tint to maybe take out Thursday's high and make another hit...
Just experimenting with the angle of the 21ema and the likely move out of it.
I have seen about 4 different angles and 4 different bull moves
Strong Explosive Moves with 70-75 degrees
Decent Moves with 60-65 degrees
Grindy and choppy up moves with about 45 degrees
Most likely a pullback with 10-25 degrees
Inside the daily rising wedge, price is making a final hurrah before it will roll over. I have marked with the blue line as the important 0.85 fib retracement level and I expect price to have difficulty around this area.
NY will open with a sizeable gap from yesterday and I believe it will be a range type day
In the video I discuss how I analyse momentum using MACDs and the 5min and 1min charts when daytrading.
Knowing these key concepts helps me filter out the best setups to get on the right side of the market and in the right trading zones.
The basic concepts discussed are :
- Momentum
- Price Action
- Candle Analysis
- Multi-timeframe Analysis
** If you like the...
I just now noticed that from 2017 to 2020, that it is a miniature version of what is happening on the long term trend.
This same pattern played out back in 1962-1980
The mini version of 2017-2020 is the same as 2020-2035
Compare it to this mini
Now that the top is in, the Daily 200sma will start to roll over and start a downward trend.
The left shoulder is complete
The head is complete
Now we are waiting for the right shoulder to form and to complete with the neckline
I am expecting the right shoulder to rally back up to the 0.85 fib level and fail.
My target is the 1.25 times range expansion at...
As the bears stormed into the market following the release of the CPI data on the February, 13th of 2024, the impact was felt across the board. The surge in bullish sentiment propelled the market late afternoon New York session, causing a noticeable shift in momentum. Investors and traders alike found themselves navigating the fluctuations with keen...
After the violent spike down into the 200sma ( Bearish ), the 21ema is now in charge. It is declining so that means to pay attention to only bearish candles as the new trend is down. Any and all bullish candles are to be ignored.
The gap between the bodies of the candles and the 200sma tells me they are to return.
If price stays in the lower 0.33% or lower...
