tradescout

tradescout Updated 

We are no longer in a bearish structure with this very large 5 wave daily structure with the ABC 4th wave satisfying bears at the 618 prior to resolving to the upside with an extended W5. I believe we are currently in W3 of this W5 and will likely push to 3100 then see a W4 decline and one more push to or above the 786. Sentiment is also changing bullish and we...

tradescout Updated 

Since we are getting a clear 5 wave move higher on the daily. I am not longer of the view that we will see a complete C wave down from here in a larger downside move to near 1700. I believe we will see a W2 down toward the 618 before resuming higher in a W3 push to the old highs or beyond. I think this entire move down on the monthly chart is like a W4 of a...

tradescout Updated 

Clear wave setup can now be seen after today's close. It appears we are headed up to test the 618 and symmetrical leg higher of C on the short time frame. That should result in a leg lower before a big bounce of C that will ultimately get faded for a lower low on the daily.

tradescout Updated 

What price action is showing me right here... Let's see if this plays out.

tradescout Updated 

It appears we have a 5 wave structure in our bounce higher this structure if 5 waves should fail in this redbox. If not and we continue higher we could have seen a WXY from 2560 down to 2400 over night (march 25&26) and that would suggest that the bounce of A will extend all the way to 2800. - so keep that in mind. We will likely fail in the redbox but it could be...

tradescout Updated 

We have finally seen a pattern that fits EW rules here and have a clear 5 wave structure with all waves reaching their retracement levels per EW theory. Today we broke down below the last low at the end of the after hours session in ES, this suggests that we are now in W5 after completing W4 up this morning premarketing (ending at the 38.2 retracement of W3...