As I'm publishing this, $GOOGL bulls and bears are currently fighting it out as the bulls try to retest and regain the trendline support and H&S's base.
Volume and CMF behaved as expected with a H&S. OBV still abiding by trendline support.
Green channels are where I would consider taking bits of profit based on multiple fib levels (regular and trend-based), a...
First, looking at the bigger picture we have hit the AB=CD 1.0 @ 10571.25 and BC 1.272 projection @ 10597.39 creating a Potential Reverval Zone (PRZ) between the two ranges.
Zooming into the hourly, as you can see this PRZ remains the line in the sand with the bulls defending the volume PoC just above the 1.272 BC projection.
Furthermore, we have a Bearish...
$ES closing at (not above) its daily TD Resistance Line, which is in line with the volume PoC of the drawdown from peak to trough of the selloff.
A higher high on the 8 or 9 daily would give a Perfected TD9 sell signal.
With everyone on here posting about the rising wedge, going into the 0.618 fib, death cross, etc. I thought I'd try posting something different. This post is not intended to be investment advice. This is just what I found and now watching.
Boom. Perfect Symmetry Setup.
On the left, 2-Day chart taking the range of 2018 lows to the July 26, 2019 "Trade War High"...
I was re-watching Scott Carney's video on the Deep Crab when I noticed something. The software he uses pinpoints the precise B point, as opposed to the peak. So I thought I would look at both.
The left side is if you were to project the B point off of the XA - 0.886 @ 3004.51 and the right is simply from the swing high. There are three distinctions I...
Takke profit at the 0.382 & 0.618 of the CD retracement.
Approach with caution. Only putting on one debit spread for this one, because the IV is so low and this thing still has earnings momentum behind it. Best of luck.
Please know this is speculative and not serious. Please do not trade beyond meat lol. I'm not responsible for your loses/emotional distress.
I was just bored looking at this sh*t show, when I noticed an interesting pattern that could play out. Bearish 5-0 Pattern (See link for rules).
**I removed all the fibonacci retracements to make the chart look clean**
This could be interpreted as a bearish cypher or gartley (depending on the placement of point C) that invalidated the descending triangle we were previous in.
By no means am I going short oil given the geopolitical sh*tstorm that is brewing, however in the case of a pullback from point D, I believe the 0.382 and 0.618 targets (green) that fall inline with the...
The VIX chart is showing a clear bull flag at the moment, with a bullish bat-like pattern that has formed.
I know point B on the Bat overshot the 0.382 - 0.50 mid point, however I put more emphasis on the 0.886 X-D retracement point. We are very close to the 0.886, however I am comfortable taking a long position here as long as the TD Risk line continues to...
A bearish gartley spotted on the $SPX again, with an entry at approximately 2927.20 and a stop loss above 2939.08 (point X).
I'm a bit more hesitant about this harmonic pattern due to the fundamentals of restored optimism of China wanting to make a deal. Awaiting more clarity following the tariffs going in place on September 1st.
Any thoughts on the current environment?
On a long time frame, we have a “three little Indian” pattern consisting of 3 peaks and 3 rivers. Expect accelerated selling once we return to the 2nd peak high buy institutions
From $3000 - $3047.38 (The 2008 Financial Crisis 2.618 Fib Retracement Level) I expect selling pressure to be heavy.
We have already fallen out of the most recent ascending wedge 2 days...
Although the 0.382 Fib has acted nicely as support for GOLD/USD and global economic conditions are looking more uncertain, I'm going to be as patient as Jerome Powell.
The daily and weekly RSI is overbought and I'm awaiting the retest of the 5-Year resistance + cup and handle pattern that GOLD has just busted out of.
First Fib - December 26, 2018 Lows to April 24, 2019 Highs
Second Fib - April 24, 2019 Highs to May 29, 2919 Lows
We can see a very clear neckline @ approx. $174.94. Assuming the width of the shoulders are perfectly symmetrical, we could see a break of the neckline within 28 days, however, Powell's rate cut decision will either accelerate/nullify this process..
Will $TLRY find support at 50% of the height of the descending triangle breakdown?
This looks a lot like $BTC's descending triangle breakdown to the lower $3000, just not as violent and sudden. Really just depends on how far the SPX drops, but I think $30.47 - 34.51 is a reasonable level to find some support. Any thoughts?
Taking a look at the volume profile of $TSLA the last time it was in this trading range, the point of control is breaking and there is significantly weaker volume to the downside. Here is the final two areas of support I would consider buying before Elon could get a margin call (www.reddit.com)....