AES Corp. has retraced 88.6% of its Feb/Mar range
This may be setting up a Bearish Harmonic Bat Pattern reversal
Adding to this is an ABCD pattern (in green) where CD is a 1.27 extention of AB at the current price.
Let the pattern develop and roll over as it is a reversal and going against the recent trend, before deciding to initiate/exit an existing position.
Nice Wolfe Wave setup .... break of point 3 should confirm. (approx 1,2670)
This could go higher (1.28+) so watch closely
Target is 1.2450 by early August
On a shorter term basis a bearish deep crab pattern has developed
A Bullish Bat Pattern ending in late May provided a $75 run. (Point D).
This reversed and on June 5th began a second run.
I have added 2 Pitchforks on the last swing points which converge and provide resistance in the 1750 to 1762 area.
A 100% and 113% extention area also provide areas of resistance. DE overlayed starting at point F.
For that reason I...
A potental Deep Crab has formed on the December Crude Futures contract.
Typically this formation overextends and can terminate at a 1.95 extention level.
This also happens to be a .786 retracement of the April 20/21st range.
No hurry on this as it is a 5 hour chart. Let the top form and the oscillator in the bottom pane roll-over as confirmation.
Don't chase this
A completed Bat Pattern gave way to a test of the first Target 9242.
Now we are cycling up ti this point and another opportunity to again challenge
Target 1 (94242) and even Target 2 (8808).
This is a 5 hour chart.
In the Covid-19 fell March/April selloff this index fell approx 32%.
It has regained just about 88% of this range and created a Bearish Bat Pattern.
One can overlay this with a Deep Crab Pattern which started on March 10th and signalled today.
The Deep Crab Pattern typically can have an extention which exceeds 1.618 and can reach as far
as 1.94x so this would...
AutoDesk (ADSK) has had a 38% run in April and may be vunerable if the overall
market rolls over after regaining just over .618 yesterday the the Feb/March rout.
Watch the direction of the overall market and try to extinguish a long or establish
a new short position near the top of the green box.
This a 3 hour plot so the window may be short.
That said I...
This may be a long or short opportunity depending how you play it.
Miscrosoft (MSFT) one of th FAAMG stocks has recently recovered nearly 80% of its February high.
On a hourly basis a Butterfly Pattern is developing where point C may have been put in,
and we are looking for a Point D which is an 1.27-1,41 extention area. This also happens to point to a...
Apple completed a Bat pattern on April 20th on a 60 minute chart.
The initial target from this pattern was the 285 area.
This was hit on April 21st.
We have rallied and as harmonic patterns usually have a second chance, there may be an additional short apportunity
in the $290 area.
As always look at the general market and the specific sector for direction....
A potential short idea. ALRM
I would start looking at this as a short or fully valued (ie sell a long position) in the 46.65 to 47.25 area.
This may not happen as we just filled a gab going back to early march.
Naturally you should have a similar view on the overall market, especially the tech sector to favour this view.
Lets see how this turns out.
Watching Ford Motor (F) for a trend reversal in the $7.75-$.90 area (PRZ).
Also watching for a momenteum turn-up in the ULT MACD oscillator in the bottom pane.
Note: the SharK Pattern is usually labelled starting 0 to C .... but TV can't do this
Watch and wait.
Not a perfect Bat Pattern......
Looking to re-enter this trade after hitting T1 and a channel break in the area indicated.
Original trade was initiated with identification of a Bullish Bat Pattern and AB=CD challenge and break.
Confirmation came from a price/indicator divergence and COT of Lazy Boy's Squeeze Momentum indicator in the bottom panel