As described yesterday, the buyers came in strong out of support areas at ~24100. Price broke through the 25000 level and created a new structure high by breaking the last highs as well. In the more immediate order flow price created a 1 to 1 to the upside reaching 25300. Price corrected strong and broke the immediate structure at ~25070. I am expecting price to...
Price tried to trade lower to create a new structure low and to retest the support levels at ~24209 and futher down at ~23980. While waiting for yesterday's sell, I was expecting a rotation and a short-entry between the 50% and 61.8% Fib Correction. After the sellers came in around there to correct weak, buyers dominated and traded price higher creating immediate...
After an extended 1 to 1 completion (yesterday's short) we reached strong areas of support (blue lines - my weekly analysis) where the buyers need to show up. Since the last high that price made is not being taken out, I am still looking for shorts. Price is correcting right now. Unsure about the correction this time, but I am expecting it to happen between the 50...
Right now we can see a nice harmonic correction. I am expecting a 1 to 1 completion to the upside of the previous immediate swing at orange rectangle area --- ~24969 and ~24986. Looking for a D-sell. *DISCLAIMER: Futures , stocks and options trading involves substantial risk of loss and is not suitable for every investor. None of the content published on this...
Price is selling off nicely. New structure lows were created with nice ratios and harmonics in play. The last low was created with less momentum and less projection since price is reaching strong support areas at blue line ~24209. Buyers slowly start to show up. Still bearish market and looking for shorts. Check my longer term analysis as well: *DISCLAIMER:...
YM still bearish - The buyers came in good at ~25200. The sellers still dominated though and traded below those levels. Expecting price to create new structure lows and retesting support levels at ~24200 and ~23980 - (blue lines). Nice harmonics in play, also in the immediate order flow. Check my analysis for the more immediate order flow. **DISCLAIMER: Futures...
After this huge move to the upside, I am expecting price to correct into the drawn orange rectangle-area at ~25160. Looking for longs there. Target at 25460-25480 at a one to one/127 Fib extension. Stop below the last low at ~25009, safe below 25000. *DISCLAIMER: Futures, stocks and options trading involves substantial risk of loss and is not suitable for every...
On megaphone resistance retest is a support area to buy after H&S neckline broke
If it breaks down on this neckline inside an already bearish ascending wedge then alot of selling will ensure.
The Venus retrograde cycle is a historically bearish cycle for US equity markets. The falls seem to be exacerbated when at or near all time highs, which all three markets find themselves. Regardless of catalyst or a reason, a strong dip should be expected between October 2nd and going into the last week of November. The Venus retrograde cycle starts on October 5th...
Good odds short setting up soon, on resistance line of wedge.
Hello Traders, Short-term Elliott Wave view on YM_F (Dow Futures ) suggests that the pullback to 24956 low ended red wave 4. Up from there, Index is rallying within red wave 5 to end a 5 waves up from 4/2/2018 low. Black wave ((i)) of 5 is currently in progress with internal subdivision as an impulse structure, This suggests lesser degree cycles in the direction...
Tradingview won't let me post the timeframes I'd like to, so please do check out the 5m for a beautiful picture of the breakout failure @ A and the subsequent recovery + breakout @ B soon after. Hit me up with any questions.
Not a grade A setup, but potential momentum BO trade opportunity. Update tomorrow.
Hello Traders, Dow Futures short-term Elliott wave view suggests that the rally from 6/28/2018 low cycle to 25572 high on 7/27/2018 peak ended red wave 1. The internals of that rally higher took place as an impulse structure with sub-division of 5 waves structure in each leg higher. Down from there, the index corrected the 6/28/2018 cycle in 3 swings pullback &...
A bullish pinbar formed yesterday in the daily candlestick chart. This pinbar occurred from a small pullback, off of near term support. Bullish pinbars are patterns that show a false break lower, where there are now traders to went short as it dropped, but when price got pulled back up those traders are now trapped in losing positions. This signals a market...
Markets have been pushing to new highs despite ongoing trade issues and technology firm earnings concerns. In a strong bull market, all boats float with the tide. Stocks and bonds will move up in anticipation of a positive outlook. A healthy market also has meaningful corrections based on business cycles and fed policy decisions. Given the long run in equities, it...
FOMC Hawkishness and the prospect of another rate hike in 2018 is pulling down equities. This is a much clearer/logical reaction compared to FX markets.