ScottCarney

ScottCarney

After the quick collapse and rebound, the Bullish Bat has now confirmed a critical continuation with the $50 target that coincides with the TYPE-I harmonic pattern. Ride RSI and monitor the reading as it rockets from the Oversold zone!

ScottCarney

Today's breakdown triggers the CD leg of daily Bullish Gartley @ 44. Due to RSI, this will flush hard and fast. Sell it down to here then trigger off extreme oversold level > 30. Contrary to popular opinion, Oil IS TO BE ACCUMULATED ON PULLBACKS LIKE TIS!

ScottCarney

In my VOL3, I outline a critical AB=CD situation with COMPLEX RSI formations. Look for a minimum AB=CD thrust @ 0.8415 PRZ while looking for RSI to rollover. These situations seek to capture a retest of the initial RSI test @ 0.83. Trend still down until retest completes.

ScottCarney

After posting the Harmonic Head and Shoulders, the stock is breaking down to retest the all-time low. There is an ALL-TIME AB=CD at $11. The $10-11 range is surely the make-break for Twitter as a business!

ScottCarney

NDX Dip and Rip AB=CD @ Gap Fill Towards the back of my book "The Harmonic Trader" (Harmonic Trader Press 1998) on page 254, I outline situations when pattern completions coincide with price action that fills a prior open gap. FREE ACCESS to "The Harmonic Trader" pdf: harmonictrader.com This chart in NDX 15min is a situation day traders need to look for as a...

ScottCarney

In Harmonic Trading, RSI + HSI Confirmation make the difference in understanding Reaction vs. Reversals. SPY now attempting to complete WEEKLY RSI BAMM DIVERGENCE @ the 2.0 (1.902 main#) but it is already acting strong. This runaway SPY train has 250 as the make-or-break target. I am looking at this area for a Q1 peak and pause at the natural harmonic...

ScottCarney

Here is a perfect example of a harmonic pattern but not a harmonic pattern opportunity! An ideal Deep Crab that has many WARNING SIGNS. The Terminal Bar (the exact completion point in the PRZ) and RSI condition are less than ideal. Also, Harmonic Traders must understand that the EXECUTION PHASE of any harmonic pattern OPPORTUNITY does not begin until Terminal...

ScottCarney

In my most recent book HTVol3, I have a section that reviews the classic interpretation and throws harmonic ratios on the structure to better define the symmetry required for a valid formation. I call these "Harmonic Head and Shoulders" patterns. Twitter peaked shortly after the post-election hyped rally. This now sets up a larger Bullish AB=CD to retest the...

ScottCarney Updated 

In my new book, Harmonic Trading Volume Three I discuss the importance of the 1.902XA extension in Crab structures that acts as a permissible tolerance when the trend is strong. In this case, the brief pause @ the 1.618 is now over and the index is poised to rally as high as 5275 over the next few days. This situation screams all the signs of a failed - or at...

ScottCarney

RSI looks good for a brief pause within the uptrend....FOCUS ON ROLLOVER@1.618 as short-term pause of January's rally.

ScottCarney

STAY BULLISH on this WEEKLY C-D leg breakout up to MINIMUM 1.618@204. I've been discussing these targets for months (INDU=20,500 Minimum) HARMONIC TRADER TIP: In Crab+DeepCrab patterns, EMPLOY THE 1.902 extension, especially when the trend is strong. The trend is STRONG so look for DIA to reach for 214.50 area for this situation.

ScottCarney

Hello Harmonic Traders! I would like to begin my renewed contribution to the HTTV community with the following Bearish AB=CD Type-2 harmonic resistance at a critical juncture. The DAILY RSI is stalling at the 50-midline. The general 61.8% retest at the 1.34 level as measured from last year's peak defines the price zone for a larger downside continuation with a...

ScottCarney

Facebook just completed an AB=CD from the past year! If the mkt is going to breakout, FB must surmount this harmonic resistance. Although the stock will temporarily consolidate at this natural level, keep an eye on "Zucker-book" ABOVE 130 for the trigger of a year-end NASDAQ breakout.

ScottCarney

This not a Crab and Bfly @ 1618! It is just a weekly 1.618 that is now failing. After 15 months and 2 significant pullbacks, this is officially a harmonic breakout SP500 above 2050! The 2.0 extension @248 is NOW the new target. This is what happens with price action after such a consolidation.

ScottCarney

I am surprised after last week's defense @2030 on SP500....now 211on SPY - THIS IS THE LINE IN THE SAND!

ScottCarney

BIG BULLISH BAT @ 0.9250...Look@RSI still down until we get here....I like to trade bearish intraday patterns into the PRZ until larger timeframe reached....something to consider! Have a Great Harmonic Weekend, Scott

ScottCarney

When I see BIG BEARISH PATTERNS ACROSS THE BOARD as this chart of a Bearish Crab in AT&T (T), I am defensive! Many others in Dow Industrials!

ScottCarney

I am BEARISH on SPX w/ 1570 as the big WEEKLY target. These Bullish Bat patterns are great intraday long trades but the trend is down. We just hit the TYPE2 reversal of BOTH. This is the line in the sand for bulls - short AND long-term. A violation of 2030-2035 will trigger the decline. The #s to watch on the downside are 1950, then 1830 then 1570.