Our next upcoming short target is 4300, below that I have marked targets all the way down to 3665, ie where we were a year ago. Of course we will bounce off many if not all these, there will be "up days" like yesterday (and now in Globex we are already well below yesterday's "gains". If you like the kind of High Profit, Low stress trading I am trying to teach...
I call this pattern the Batman Pattern, because if you look at the overall shape is it very much like a Batman jet, or car or Batman shirokin (throwing weapon)... Lower head, like baman wearing flying wings. Definitely a rolling over pattern like a head and shoulders. my apologies for the text below price that says sell and buy, just ignore it. ichimoku cloud, ...
10 minutes before the market closed we hit S3 the rubber band was spent no energy left. I reversed and went long SPXL at 4012 ES Futures == SPY = SPX. i always talk in Futures If i'm lucky they take it up overnight and i take profits in the morning. The Tripple Thrust Elliot pattern is still in effect. Three sets of Five EWs completed a down more from an all...
I have been calling for a correction down since mid August in many posts, and am longer term Bearish.. but the idea of VWAP is to point out extremes. We have quarterly, monthly, weekly, and daily VWAP above us, and we have brushed up against STDEV3. So even though things look very Bearish the theory that we should return to the mean still stands. We should...
I have removed 5 indicators so that "The Pivots" are easy to see. I used the Camarilla Pivots on a weekly setting in a 1 hour candle. Notice how when we reach these extremes price is like a tightly wrapped rubberband, and returns towards the mean "Pivot" only price usually goes to the other extreme on these high probability, high profit moves. I have put Buy in...
Here on this chart I have gone back in time to show the 4th corrective waves on the way up. The All time highs in the middle, and what I have been declaring as a corrective 4th wave up to the overall trend down. You can clearly see a double set of shoulders on the way up and a double set of shoulders on the way down (these are the fourth waves, inside the right...
The pivots show extremes Resistance R1, R2, R3, R4 and R5, Support S1, S2, S3, S4, and S5. This morning we were at R4 almost R5, and I closed the trade at S4. This style of trading means at most trading once or twice a day. High probability, high profit trading. All the rest of the noise in the middle is designed to cause people to overtrade. If you find you...
I used to daytrade, in and out all day and night, but now I feel that is playing into the hands of The rich brokers on Wall street. So I came up with a much lower stress style of swing trading, based on Buying the ES when it reaches S4 or S5 in 60" candles and shorting by using SPXS (tripple inverse Spyders) along with everything else I know. One of those...
For me the Tripple Thust pattern is the most powerful Elliot Pattern.. Three. complete sets of waves up since 2008, followed by a lower high (fourth wave up, counter trend, complex) and a selloff.
In the intermediate long term past we completed 3 sets of 5 elliot waves UP.... We had a top. Now we have a reverse trend (DOWN) rally, setting us up for a selloff. I have been predicting these since 2000. check the history. look at a 60 minute chart, consider standard deviations away from VWAP. Also as confirmation in the pivots R4. It is like a tightly...
I called this a few weeks back too early, often I am early to the party now I am in an SPXS position, 3X SPX down. My targets are down there in the red lines. Insanely high inflation has finally done the inevitable. Also there is a seasonality issue, late in August the markets traditionally selloff. This is one of my favorite charts I call Kauai Daves Rainbow...
A lot of folks think we are going to keep going up, obviously with the mini rally from the bottom. I saw this may be a corrective wave to the overall trend (down). Look at the two levels above and watch out for the next series of down waves. With inflation as it is, which means more blundering moves by the FED to fix inflation. Historically the FOMC always...
WE have hit the Weekly VWAP, and are under the Quarterly, Daily, Monthly.... VWAP is like an elastic force that tends to pull us back to the mean.... Also we are at S4 the lower Pivot, and The Pivots are similar to VWAP, when you hit S4 is is likely we climb back to Pivot/VWAP... There is a reason I put both on the same chart. The EMAs tell a different story, I...
The mood is very Bearish, but it is too late in the game to short and expect much. I'd be looking to go long someplace between 13852 and 14800. Drop down to a lower timeframe and pick your target. Is it unlikely this is the end of the Elliot Grand SuperCycle. I will come back later as the movement progresses. We could see a wave 2 at 13852, and a 4th wave...
We should see one of the many kinds of topping formations, be it Elliot or head an shoulders. IF the Indices go up: Bullish Targets 13600, 13800 IF we go down: Bearish Targets 12960, 12,750, 12650, etc nobody, but the Bilderbergs (Wall Street/Global Billionairs + all Kings and Queens, presidents and Dictators, Military Leaders, Press? CNBC is told...
On March 25th 2021 I posted an Idea that we would go up, towards R3 in the pivots, & weekly VWAP. We are at R3 after a very bullish long trade. I expect us to go a little higher and then roll over, of course.
Note that we are at the Daily VWAP, and S1. We have been trading above the S1 most of the time for weeks. Likely we will go UP today. We are sitting on top of long term support. Here is the 5" chart, note the Elliot wave stochastics
I once ran a room, after joining David Elliots Classes. BTW I trained 1600 Computer System and Network Admin and Security Engineers, so I know how to teach and wrote many clases. I don't want to interfere with TradingView at all. They have a great platform. If allowed we will all use this platform still and chat occasionally in the room, there is too much...