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...
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...
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...
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...
Completing a BEARISH SHARK @ 136 = Another 7pts of upside before even thinking about a short!
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.
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...
Scott Carney - harmonic gartley pattern. Price falling below 161.8% projection of BC - 1.0631 would invalidate this pattern !
1) A potential small Gartley is forming @ 0.7646, with stops just above 0.7655 2) A break of 0.7655 (stops for the Gartley setup), is another setup of Scott Carney's BAMM theory 3) Riding the BAMM setup, towards the bigger Bat setup @ 0.7706
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.
I am surprised after last week's defense @2030 on SP500....now 211on SPY - THIS IS THE LINE IN THE SAND!
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
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!
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.
Went long on EURCAD at 1.4195 last week. Sill holding on to my long position. Found a good reason for me to add in more positions at 1.4620. We are targeting 1.4970 with stop loss at 1.4570. Excellent risk to reward as usual. EP:1.4620 SL: 1.4570 TP: 1.4970
Hi guys, my 2nd trade setup of the week. Looking to buy into NZDJPY around 72.70. SL: 72.30 TP1: 73.80 TP2: 75.50
Just went long on EURUSD C-D Swing of this Shark Pattern. Targeting 1.5580. SL at 1.1350.
1.4750 was the completion of a bullish Crab pattern on GBPUSD daily chart. Price is now reacting to the completion of this pattern. For the rest of the week, I will be interested to go long on the Shark pattern if it challenges 1.43.