On my last thread that I have made I was predicting a bullish Eve Adam pattern which has been invalidated due to the lack of a swift reversal. As well as the invalidation of the Inverse head and shoulders on the lower time frames. This being said there is yet another bullish pattern that we have. Since we did not create a new lower low last week or today and it seems like EV's are in a slight reversal trend which could give us a nice boost.
Anyways on the daily time frame I am seeing a bullish gartley pattern as shown in the picture with the blue triangles this pattern is valid as long as we do not go past the .78 fib retracement that would bring us to approximately $13.5 area. I strongly believe that we will have our answer if we are going lower only once earnings on February 21st come out. If they are positive we get the GREEN light if its negative and I mean both numbers then I will sell my positions and hold until further notice.
Lower time frames have divergences forming and already playing out on the 3H 2H and 1H.
If earnings are positive which Im 67% sure they will be, then the measured move to the up side is $34.4
Today we also got a nice Bullish engulfing candle on the daily and it closed above the Point Of Control (red line)
We also have a gap to fill at $23 and those 70% of the time get filled higher which would take us to about $24. This will be a great magnet for price to get pulled up higher.
KEY DATES:
Anyways on the daily time frame I am seeing a bullish gartley pattern as shown in the picture with the blue triangles this pattern is valid as long as we do not go past the .78 fib retracement that would bring us to approximately $13.5 area. I strongly believe that we will have our answer if we are going lower only once earnings on February 21st come out. If they are positive we get the GREEN light if its negative and I mean both numbers then I will sell my positions and hold until further notice.
Lower time frames have divergences forming and already playing out on the 3H 2H and 1H.
If earnings are positive which Im 67% sure they will be, then the measured move to the up side is $34.4
Today we also got a nice Bullish engulfing candle on the daily and it closed above the Point Of Control (red line)
We also have a gap to fill at $23 and those 70% of the time get filled higher which would take us to about $24. This will be a great magnet for price to get pulled up higher.
KEY DATES:
- February 21st - Earnings (Neutral)
- March 7th - Rivian unveils R2 (full release will not come until 2026) (Bullish)
- March 19th/20th - FOMC interest rate decision (Bullish)
- March and April best months for stocks (Bullish)