OneTrueSloth

OneTrueSloth

There is a Cypher pattern on the hourly time frame, which will be complete if bitcoin reaches low $33,000's. There are several coinciding Fibonacci retracement levels from recent price fluctuations, as well as bullish divergence on the hourly RSI. Targets are the A and C nodes on the harmonic, and a stop loss should be set slightly below X.

OneTrueSloth

I love a good rising wedge with div-bearish divergence, in an established downtrend. That is hot stuff.

OneTrueSloth

Bank of America is approaching the pattern completion zone of a bearish deep crab, and is well into overbought territory. For additional confirmation, there is bearish divergence on the MACD.

OneTrueSloth

Qorvo gapped up to the PCZ of a bearish butterfly. It could extend up to the 1.618 retrace, but it's currently at a 1.5 retrace and has potential to reverse at any moment. It's severely overbought on the oscillators; primed to pop.

OneTrueSloth

There's a bearish Gartley at the PCZ on General Electric, with a gap on the way down which could mean little resistance for a retrace to lower prices.

OneTrueSloth

There is a bearish bat pattern formed on TSLA, and the reversal to the downside has already begun. There is a gap to fill (low resistance area) which would bring the price down to a 50% retrace of the previous uptrend (C -> D). The risk/reward ratio is not quite good enough for a short trade setup, in my opinion, but it might be wise to close long positions until...

OneTrueSloth

There is a rising wedge forming on Keysight that looks poised to break to the downside, based on oscillators. If the wedge breaks, the measured move of the pattern would be in the low to mid $70's.

OneTrueSloth

There is a bearish bat playing out on GBP/USD, indicating downside potential down to $1.21981. The stop-loss is placed above the pattern completion zone, in case the trend reverses at the 0.236 Fib extension we're at now. Profit-taking level is at the C leg of the harmonic, for a total risk/reward ratio of 2.9.

OneTrueSloth

Intel has gapped up to the PCZ of a bearish Gartley, which means there is a low-risk short trade opportunity!

OneTrueSloth

State Street Corporation has completed a textbook inverse head and shoulders pattern with a resounding bullish engulfing candle as confirmation. Low-risk long opportunity!

OneTrueSloth

Garmin has hit the pattern completion zone for a bearish Cypher, which presents a low-risk shorting opportunity. As further confirmation of a price action reversal, there is daily RSI/MACD bearish divergence. The Cypher resides within a large upsloping channel and the PCZ is at the 75% line. Depending on the momentum as the price starts to trend down, one could...

OneTrueSloth Updated 

There is a bearish Cypher forming on Marathon Petroleum Corp. If the price runs up to $63.65, with divergence as confirmation, there might be an opportunity for a profitable short position.

OneTrueSloth

Marathon Petroleum is at the PCZ for a bearish Cypher, and RSI/MACD are indicating an impending price action reversal.

OneTrueSloth

Nokia is currently uptrending after completing a large bullish Cypher pattern that even appears on the weekly time scale. Now there is another opportunity for entry, as we are showing a lower low double bottom with daily bullish divergence. Price action (dragonfly doji followed by bullish continuation) indicates a trend reversal. If entering a trade, one could...

OneTrueSloth Updated 

There are a couple potential harmonics playing out on Qualcomm. The green pattern pictured is a bullish Cypher, with an entry just below $70. If one were to play this conservatively, taking a stop loss at the lower A leg, there will still be a 3.29 reward/risk ratio if a stop is placed below X. If the price rises to above $84, we'll be in the pattern completion...

OneTrueSloth

Here's how I'm planning to trade the Gartley mentioned on Mitch Ray TA's YouTube stream (which is where I learned a lot of my trading strategy - check it out!). Thinking about dividing my risk evenly between these two trades. The first plays the lower low double bottom up to the PCZ of a Cypher. I might choose to stay in the trade if there is no divergence at that...

OneTrueSloth

If you are shorting Texas Instruments (playing the rising wedge?), there are many bullish Cyphers which could present turbulence, or a reversal to the upside, starting at around $123. On the plus side, there could be a nice low-risk entry for a long at $120.

OneTrueSloth

The measured move of the double top (blue) is confluent with the measured move of the rising wedge (white). Both are also confluent with the 50% retrace of the uptrend shown in red. There is significant bearish divergence on the daily RSI. With the announcement of a 25% tariff on EU exports, it could be a very bad situation for the index. If the bottom of the...