ScottCarney

ScottCarney

Over the past few weeks, I have outlined the rise to 8k as an important upside harmonic target. I even suggested in my prior post that a 30-50% correction was likely before moving higher. The price dropped 29% from the peak immediately after the AB=CD@7880 completed only to rebound 30%! As difficult as the hype can distort expectations, I have outlined the TYPE-II...

ScottCarney

I outlined the harmonic resistance in the 8k area. The AB=CD completed at 7600 while the Bearish Three Drives at 8250. The market topped last week just shy of 8k - 7880 exactly. Despite the fact that the Bearish Three Drives fell just shy, this recent peak IS an important inflection point that will lead to a larger correction. As I said in my prior post, a...

ScottCarney

Harmonics+Crypto=$ The 8k Target I posted about 16 days ago is now within reach. What to do? 8k is the target with slightly higher objectives (8300-9k) - unload at or just above here. If you are a trader, you know it's time to take profits. If you are a hoper/holder, prepare for a 30-50% haircut before going higher. This is how EXPONENTIAL MOVES correct. I'm...

ScottCarney

No matter what, BTCUSD , ETHUSD , LTCUSD and other Crypto markets will go through many 30-50% corrections as these entities grow. I have focused on only a few markets in my TradingView posts to feature particularly distinct harmonic behavior, i.e. SNAP , SPY, other FX. I have outlined both long and short harmonic opportunities in these markets but I have found...

ScottCarney

No matter how good the prospects are for BTCUSD, the trading behavior will continue to provide opportunities to take advantage of even the strongest of trends. For the first time in months, the 4hr RSI has tested the Oversold 30-limit and reversed ideally to confirm the immediate Bullish AB=CD pattern. The harmonic pattern measurements complement the...

ScottCarney

The initIal test of the Bearish Bat has now hit the Type-I 38.2% reactive target. The 4HR now has a Bullish AB=CD at the 38.2% level defining support @ 285. This sharp reaction - an effective 30% high to low - suggests that short-term swings are clearest on 4hr timeframes. The Bearish Bat that I have mentioned over the past month served as a clear target to...

ScottCarney

I AM CALLING IT NOW! ETHUSD will bust the Bearish Bat target at 380 and explode to fulfill the PERFECT AB=CD on the WEEKLY chart @ 550 by year's end! Time and structure show the perfect symmetry for a 30 week CD leg time limit while the 1.618BC extension and AB=CD completion define the target. In my "Harmonic Trading Volume 1" book, I outlined the perfect...

ScottCarney

SNAP is NOW accelerating ABOVE $15 AND has shorts scared. Reaction to 38.2% Target I @19 = MINIMUM OBJECTIVE. I recommend looking at Facebook FB post-ipo. Similar harmonic reaction after the lockup. Don't ignore this daily continuation w/ 13.85 as confirmed AB=CD support.

ScottCarney

SNAP has hit the BIG AB=CD target @ 13.85, exceeded the harmonic support zone a bit much and is now back at the pattern completion point. GOOD NEWS = Clear Simple Bullish Divergence is supporting the pattern zone. BAD NEWS = Time is up. The tolerance of further consolidation should now be limited, as the entire scenario has been "vetted". Any long positions must...

ScottCarney

Minimum ETHUSD Bat target @ 385 will hit on this move. The Cryptos are in full mania mode w/ new highs in Ethereum likely after the Bat targets are reached. ETHUSD , BTCUSD are en fuego! Stay LONG, Stay HARMONIC!

ScottCarney

ETHUSD now finished w/ Type-I target@230 and now begins the assault to 305 but the big 88.6@378 now in play. ETH in a strong position for a HARMONIC BREAKOUT to reach for a retest of all-time highs. Stay with these Cryptos!

ScottCarney

The AB=CD completion at 13.85 was hit yesterday and reversed hard today. RSI has triggered out after a delayed reaction. Since the AB=CD from the peak of the ipo is defining the extreme structural limit, the recent low at 13.15 serves as the acceptable tolerance. At a minimum, the initial reaction at the entry zone in the 13.85 level is another positive day away...

ScottCarney

I have posted a series on SNAP since post-ipo where I outlined a Deep Crab target @ 15. The stock has dropped from the $23-24 area to the pattern PRZ that actually points < 15 to the $14 level. The daily chart is now poised to complete an AB=CD @ 13.85 . If the "ballpark area is 14-15, I expect that 13.85 to serve as a structural low extreme. One concern: RSI...

ScottCarney

The Bullish Bat bounce to 215 went as high as 240 as it hit the 38.2% Target 1. ETHUSD RSI is quite strong! The 61.8% Target 2 @ 305 is clearly in sights ON THIS MOVE as the reversal rides the trendline. The Bat Bounce is about to be a Bull Run! More to come...

ScottCarney

SNAP turning bullish today after test < 15. RSI stabilizing on daily chart. SNAP HERE!

ScottCarney

CryptoJr Etherum has "crashed" to complete the Bullish Bat on the daily chart. Terminal Bar established today. Start looking tomorrow for execution of 88.6%@145 PRZ with Target-1 @ 215 ...Treat as a reactive trade and look for LARGER CONTINUATION next month.

ScottCarney

The long-awaited Deep Crab Pattern in SNAP post-ipo is here! We are hitting the PRZ today = establishing The Terminal Bar! We look STARTING TOMORROW for execution confirmation. Utilize RSI reversal trigger AFTER this drop stabilizes. HARMONIC PATTERN TIP: The Crab/Deep Crab Pattern employs a 1.618XA measure but is frequently exceeded. I add a 1.902 "LAYERED" XA...

ScottCarney

Perfect reversal from 5-0 PRZ @ 61.8% (2650) with IDEAL RSI confirmation as mentioned in previous posts. I know most understand M&W-Type harmonic patterns but the 5-0 is a different animal. I outlined the identification rules in HTVol2 but I was a bit light on some of the management relationships that are associated with this structure. Here is some...