Look where we are right before the close today? Right on the weekly gap I said we would hit last night and this morning.
Long term weekly channel since 2009 has us wicking below the center line into that 2970-2948 area. We spent 13 plus weeks in this area trading and acted as resistance for many weeks and support in others. Before I go long out of this drop it's going to be on that channel line. IF and that's a big IF no more bad news on Corona spreading and such.
IRBT - I'm expecting a move up. What I like: - Half-assed inverse head and shoulders on a daily - Start of an uptrend (albeit disorganized and choppy) - Relative strength with the indexes down over 1% - Holding closest symmetry support at $50.20 - Cluster of symmetry support from $47-48.33 with the uptrend line -786 fib retracement at $49.31 - Big ass gap...
Was on the phone earlier with a good friend while this 60 min first red candle down wicked into the gap and came down. I'm like Mark this is going down. 200 plus ticks later I was right...again! If you aren't using channels you are missing out on easy moves. Best part is the drawing tool is free on most platforms. You have to frame your trades before you add your...
Live video of the ES/ S&P 500 wave 5start back up. Buyers kicking in this morning. Watch the power of these daily and weekly gaps as we touch them to the tick and pull back and then force through them. W5T Elliot Wave on a daily chart helps you see where we are and can possibly go.
Third update today - Look where we are right now? The exact to the tick weekly gap I said we would hit next. GAPS work people! Our Roller Coaster indicator picked up a nice 220 tick move on the @es_f today as well and our Elliot Wave indicators picked up a massive 5th wave move. What are you using to find moves like this??
Follow up from yesterdays @es_f Elliot Wave 4 pullback and completed 5th wave to the tick! Both BITS and Elliot Wave Indicators called this move today. 75-100 plus ticks. Roller Coaster likes to have a more stable environment and didn't have much on it today. Gaps play a MAJOR part in where the market goes guys and gals.
UPDATE from last nights post. Look how we blew through the weekly gap, a couple daily gaps, and bounced off the daily center channel line. If you read the Price Action Breakdown book by Laurentiu Damir we wicked just below the daily center channel, filled a daily gap, and rocketed back up 80 plus ticks. The W5T Roller Coaster indicator called this move days ago...
Nice gap down on the Sunday open creating a deeper W5T Elliot wave 4 pullback on a daily chart. Almost a wave 5 down on a 5 minute chart. A lot of people don't realize you can have multiple wave patterns going opposite directions at the same time. With the right charting and wave count isolated you can see them in action. The wave 5 down on the 5 minute is...
Resistance thwarted GS price action, causing the stock to retrace. It is now shifting to a sideways price action with common gaps.
After a parabolic advance that would make crypto traders envious, Tesla has created an Evening Star Reversal pattern which tend to mark the top of a price advance, or in this case, a potential blow-off top. Moves like this are rarely sustainable long-term so a pullback in the short-term is expected. Lower levels to watch for potential support stem from previous...
This is how 2019 is going to play out. I can't believe how well this fractal lines up with the trendlines and the CME Gaps. Both gaps at $8494 and $7175 will be filled by mid-September. Sideway movement will follow until late January/early February. Launch sequence to the moon will have begun by Mid-February.
May not be ready just yet but the 60 HMA has flipped bullish (blue) on the 4H
TGT has a Platform candlestick pattern which is a Position Trading style sideways price action. It is indicative of Dark Pool Quiet Accumulation that then triggers High Frequency Trader gaps. The resumption of another Platform candlestick pattern indicates the accumulation is not over.
Entered a options call on Monday (expires Friday – high risk) since most of my indicators point short term bullish and we have 2 gaps that will probably get filled before tanking again to even lower lows. Anyone agree? As long as price maintains above $28, I will be in profit for my options call.
"Liquidity gaps" have been proving themselves over and over. Everytime there is a decent sized movement, price always seems to "fill in" or trade through those spots again. I've highlighted two spots in light yellow. (A third was a maybe). It looks like price is likely going to trade in to these "gaps" , I've highlighted. These are concepts learned from ICT....
Got a lot of shite for saying these gaps would most likely get filled. Almost there. See previous ideas for historical gaps
Had a massive gain of 11.89%, but its way overextended now. If gaps up ill be looking for a short between $2.59 and $2.47.