Alphabet hit resistance at Gann level 2861 and began to lead the market in yesterday’s selloff. As expected from the Nasdaq analysis we can recognise an unfolding wave (c), which is reflected in GOOG as well.
If the green count is accurate, GOOG may have completed wave iii, so that we can look for a potential wave iv with a retrace to the .382 Fib level (blue box).
Waves 4 are hard to trade but due to their choppiness we may profit from a brief contraction of implied volatility when selling premium.
If wave C continues to unfold we may look at the next levels for potential supports:
- 2699, wave (a)=(c) equality
- 2651 Gann level
- 2549 and 2559, Gann level & 1.618 Fib level
On 29 SEP three minor Mars/Moon constellations occur.
Correlations: DXY continues its exceptional strength as yield spiked, but Gold and Bitcoin has started to rise again, which could potentially be an early indicator that USD may begin to slow. EURUSD is at support level as well. A declining USD would help the yield-sensitive tech sector.
______________
constellations.trade
In my analyses I combine Elliott waves, Gann theory, and planetary aspects to identify turning points in the markets & derive high-probability trading ideas. The strategy is to build leveraged exposure when markets are likely to expand, and to use options premium decay for consistent income when markets may contract and range.
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Binance
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These abbreviations in the chart describe ideas that are provided as educational information and do not constitute financial advice:
STO = sell to open
BTC = buy to close
BTO = buy to open
STC = sell to close
TD = Theta Decay (for example a strangle or iron condor)
Disclaimer:
The views and ideas expressed in this analysis are that of the maker. They are provided as educational information and do not constitute financial or trading advice.
If the green count is accurate, GOOG may have completed wave iii, so that we can look for a potential wave iv with a retrace to the .382 Fib level (blue box).
Waves 4 are hard to trade but due to their choppiness we may profit from a brief contraction of implied volatility when selling premium.
If wave C continues to unfold we may look at the next levels for potential supports:
- 2699, wave (a)=(c) equality
- 2651 Gann level
- 2549 and 2559, Gann level & 1.618 Fib level
On 29 SEP three minor Mars/Moon constellations occur.
Correlations: DXY continues its exceptional strength as yield spiked, but Gold and Bitcoin has started to rise again, which could potentially be an early indicator that USD may begin to slow. EURUSD is at support level as well. A declining USD would help the yield-sensitive tech sector.
______________
constellations.trade
In my analyses I combine Elliott waves, Gann theory, and planetary aspects to identify turning points in the markets & derive high-probability trading ideas. The strategy is to build leveraged exposure when markets are likely to expand, and to use options premium decay for consistent income when markets may contract and range.
Open an account here if you'd like to support my work:
TastyTrade
America's best Options, Futures and Crypto broker
start.tastyworks.com/
Deribit
The world's most liquid Bitcoin options platform
deribit.com/reg-14912.6680
Binance
10% off trading fees with this link:
accounts.binance.me/en/register?ref=LLBB97HL
These abbreviations in the chart describe ideas that are provided as educational information and do not constitute financial advice:
STO = sell to open
BTC = buy to close
BTO = buy to open
STC = sell to close
TD = Theta Decay (for example a strangle or iron condor)
Disclaimer:
The views and ideas expressed in this analysis are that of the maker. They are provided as educational information and do not constitute financial or trading advice.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.