xtremerider8

xtremerider8

SQ dropped 65% from 289 top. Finally it broke out of downtrend line, making a diamond reversal to complete a M-Gartley pattern. However we still need to see a follow-thru. Some consolidation may follow until it goes into the cloud & breaks above it. Not trading advice.

xtremerider8

After falling 78% from 2021 peak around 307, TDOC finally show signs of a potential diamond reversal.

xtremerider8

Gold just BO of a head & shoulder pattern inside the triangle wave 4. This may mean that wave 4 has bottomed & wave 5 has already begun. The measured move of H&S shall be 2211.(the green box) However, this may turn out to be a fake-out if equities rally again on risk-on sentiment...or if $ DXY continues its wave 3 uptrend. A conservative entry will be to wait for...

xtremerider8

EEM emerging market etf is currently doing a diamond reversal & also trying to get back into the rising channel. Wave 3 continues.

xtremerider8

This is just a fractal projection of how this 2009 5-wave bull cycle may end. I use the 2018 to 2020 megaphone patter since 2022 going forward will see a lot of volatility. Distance between the 2 tops in this megaphone pattern is 73 bars or 510 days apart. The first top in 29Aug2022. The second top (end of 5 waves) in 22Jan2024 at around the 5600 zone after a...

xtremerider8

Bears immediately counter-attacked by gapping down 1 day after bulls made an island reversal on Wed. Those who immediately FOMO buy after island reversal were flushed out.(I warned that war not yet over due to 1 more down gap & strong resistance zone at 4700) But the bulls immediately went up to fill the down gap. This is good but could be better if bulls continue...

xtremerider8

SPY in this hourly chart just made an island reversal & went up to fill the first down gap, closing at 457.51 & making a double top.(Gap when filled becomes shortterm resistance) It also break above the hourly 200ma ribbons. This is very bullish. However, as you can see in the chart, there is still another down gap from 464. This, together with the strong...

xtremerider8

Silver now trying to BO the smaller downtrend line & the diamond. It may retrace a little but it needs to Hold 22 & keep above the WMA 200 ribbon support to be bullish. If it finally BO of the big descending triangle, then wave 3 will be confirmed & the next targets of 30 & 50 may be on the table.Unlike gold, silver is not only a store of value but also an...

xtremerider8

XTZ may have started wave 5. It is now trying to break above the 200 ema ribbons. Breaking above 5 would be bullish since this is the potential zone where dma50 may be crossing dma100 & dma200. If that happens, theses next 5 moves should come to reality. Also note the confluence of GANN Fan as support & resistance lines. not trading advice

xtremerider8

After falling 77% from ATH to a level lower than Mar2020, I think YINN is ready to reverse. What is forming maybe a head & shoulder pattern inside a diamond pattern. Measured TP of H&S is 18. I think it will go to 16 first, then retrace to 13 before going to the TP at 18. Many Chinese stocks are already making HLHH like BIDU, JD, NIO, VIPS, LI. These Chinese...

xtremerider8

Gold is now whipsawing around MA20 of the Bollinger Band with very small volatility. (See yellow candles). Just like 2019 the start of a big bull run, Bollinger Band is also constricting with most moving averages also converging & returning to the mean around the 1800 zone. It seems like Gold is also trying to breakout of the falling wedge & to go into the...

xtremerider8

FAANG FNGU stocks still have upside once this recent wave 4 correction ends. Most FAANG components will still have big earning potentials in 2022. With some like Netflix & Fb already making big enough corrections, others may see a lot of volatility in 2022 with end of QE & multiple raid hikes coming. However, stocks in general rises together with treasury yields...

xtremerider8

1) EPP broke above & retested BIG Symmetrical triangle 2) it bounced from the lower uptrending channel 3) it holds the Volume profile support line 4) It bounced off the 38.2% FIBO level 5) it just made a weekly engulfing candle 6) it bounced off the GANN fan line support 7) it just entered back inside the 200 ema ribbons However,it still has to get above the 52 to...

xtremerider8

Dollar affects the direction of many asset classes like stocks,bonds, gold, commodities & emerging markets. That is why it is impt to understand its direction. The BIG PICTURE: $ completed a running flat wave 4 & is now doing wave 5 of a bigger wave III. $ has been moving in 2 ranges…from 70 to 121 & the recent range from 89 to 103. DXY was consistently rejected...

xtremerider8

ETH will go into a very strong resistance zone (3030-3330) in a week or so. By that time, dma50 & all the long term moving averages are converging here. The top side of the bigger falling wedge is also in this zone. Making it worse, it will also bump into the Ichimuko cloud in this area which Increases the probability of rejection & a continuation...

xtremerider8

1) Atom completed a near perfect M-gartley pattern w/ a 1.63 retracement from neck & a 0.785 from low. 2) at uptrend line support 3) at Gann Fan line support 4) perfect 0.786 Fibonacci retracement 5) indicators coming from oversold & turning up 6) big green engulfing candle 7) Diamond reversal pattern may be forming 8)It went above dma200 & held inside the 29-30...

xtremerider8

All the major moving averages are already properly aligned except the ema 5 which in a few days will cross above ema20. The last 3 candles saw horizontal consolidation above the 7.32 strong pivot support., with the indicators maintaining high momentum w/o crossing down. It already tested 8.84 the next horizontal resistance (also a GANN fan line) Breakout of 8.84...

xtremerider8

The bottom is in for Adobe. One more leg down to form the right shoulder. Pls see chart. Adobe has very good fundamentals & a lot of moat. A top choice for value investors having down so much. Not trading advice