AMAZON is attempting to break back into the main Schiff median line. Should the lower rung hold, 3700 range is possible. Rest of week should be telling.
Weekly Chicago pattern still "technically" valid. A sustained break above 3861.45 could test the median line.
Weekly Chicago pattern printed above 3823.60. This consists of an outside week (3) followed by an inside week (1) ending with a directional weekly candle up (2). Coined by Rob Smith #TheStrat @RobInTheBlack #Chicago #312
Areas of interest. Pink trendline = measured move blue circles = similar moves above/below median line red circle = when price fails to reach the median line, it usually meanders sideways and then moves strongly in the opposite direction pink circle = target lets see what happens
Slightly adjusted timing and fractal positions. Idea still holds.
Rail to rail on this crazy train. Areas of interest...not trading advice.
Earnings report tomorrow morning. Should be pretty abysmal....covid, copper not doing so hot, revenue should be down with mine closures and low consumption/need for copper. Took some put positions EOD today. Lets see what happens. Technical rationale on the chart. The "eyes" are my potential targets for tomorrow. Questions/comments welcome. Full...
Been studying Gann for the past couple weeks. The man was a genius! This is a really simple analysis and is actually one of the "easiest" of Gann's methods to determine pivot zones. With two data points you could calculate the expected reversal point that triggered this years insane sell off. My best advice is to do the work....do the calculations and prove it...
Trying to learn EW. With the recent drop (reset) it seems prudent to try to fit some waves on the new structure.
Idea only. Looking for market symmetry to the bottom of the main channel to retest 2019 low
Onward, noble steed. Picked up some calls Friday EOD around 1 hour to close. Apparently they went 1000x....., . Def not holding my breath and paying special attention to futures activity on Sunday night. A gap up would be great and makes sense technically, longer TF ES and NQ RSI/MFI were oversold and are now trending upward. Either way I expect more tom...
Sideways and slow going. Kind of expected more action and an attempt to regain the channel but more sideways at the 100% pitchfork line to build momentum and punch back up. Updated anticipated path as well.
A gap down Monday through the red dotted median channel lines would not be surprising and confirm their relevance. Pending other bad news this harmonic pattern could play out to test the upper channel again and close the gap. In the event of more bad news/selling there are plenty of open gaps and targets outlined. I favor letting the MFI / RSI cool off on a gap...
Not too confident in a bounce monday even with indicators in oversold territory. Two days is a long time for news to build up. Might take a short pos for gap down monday. Either way, were at and reacted to both median lines (dotted line) for the two channels. Does this mean lower?
Other world index futures are going red. If this continues look for a gap down to test the blue pitchfork channel (red parallel pitchfork channel if things get really crazy). In any case, a re-test of the grey TL is in order. Bull above, bear below. Lets see how tonight develops.
Right at the channel median...MFI/RSI look to be trending down. Likely to test green channel line while RSI/MFI cool off and start trending up again.