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Bearish Gartley

/ES Is Set Up to Break Below The Equidistant ChannelBack in August, the SPX traded at the PCZ of a Bearish Butterfly with some Cypher Confluence and I played it through SPXL, a 3x Return ETF via puts, as seen here: At the same time, the E-mini futures were trading at the PCZ of a Potential Deep Gartley which we now know to be a little bit more than Potential. Since then, it has broken through Local Supports and has formed a small intraweek trading range that seems to have been working on a redistributive price action over the last few weeks, as week by week, Positive Interest has continuously weakened and Negative Interest has gotten more and more aggressive. If this trend continues into the upcoming trading session, we will likely break below the range this week and target the levels of $3700-$3600, which would take us below all the Demand Lines of the Equidistant Channel. This would then set the price up to begin a bigger Bearish move that could end up taking it all the way back down to the 2020 and 2016 support levels.
CME_MINI:ES1!Short
by RizeSenpai
1
Berkshire Hathaway: Bearish Gartley Hinting at a 40-60% DeclineBerkshire Hathaway is currently trading at the HOP level of a Bearish Gartley and at this HOP level, upon close, will likely confirm a Bearish PPO Confirmation Arrow as the PPO Oscillator itself gets closer and closer to breaking below a well established trend line. Along with that, we have some Bearish Divergence on the MACD and the price action we got at the HOP resulted in a green Shooting Star Candlestick Reversal Pattern that we are working on confirming via a Weekly Bearish Engulfing. If all goes as expected, I would think that the shares of Berkshire Hathaway will first pull back 27% which would put at the 2022 lows but after that I think it will likely pullback around 40%-60% to fill an unresolved gap at $314,850.00
NYSE:BRK.AShort
by RizeSenpai
Riding the Bullish Tide on Pound-Dollar Hello traders! Let's delve into the Pound-Dollar landscape and identify potential buying opportunities. 🇬🇧💱 📊 Weekly Chart Insights 📊 The bullish trend on Pound-Dollar persists, presenting a potential buying chance this week. On the weekly chart, the market retraced to the previous support level, respecting it at 1.2632. This could be a zone to watch for potential buying. 💡 Daily Chart Observations 💡 While the daily chart may seem like a potential head and shoulders setup, I personally refrain from this trade as it doesn't align with my filters and rules. Nonetheless, consider a buying option around 1.2608 if you're inclined. 🔄 Navigating Consolidation 🔄 A closer look at the four-hour chart reveals consolidation. This scenario can be advantageous for traders on lower timeframes like 1-hour and 15-minute, who can seek counter-trend opportunities or harmonic patterns within this zone. 📊 Charting Strategies 📊 Returning to the weekly chart, remember the key buying zone lies between 1.2595 and 1.2632. Respect for the 1.2595 level is pivotal. On the daily chart, a Gartley pattern surfaces, but I lean cautious due to an elongated shadow. ⚙️ Refining Entries ⚙️ For those seeking confirmation, explore the four-hour chart's retest for an improved entry and tighter stop loss. Conversely, a bearish Gartley pattern at 1.2838 could entice shorters. 🔍 The One-Hour Chart 🔍 Keep an eye on 1.2735 on the one-hour chart—a countertrend opportunity in line with higher timeframe trends. Approaching the sell zone, an opportunity might emerge.
Long
by RaynLim
Dollar Yen: Riding the Bullish Wave!📊 On the weekly chart, a strong W formation with a long tail signals potential upward movement. Daily chart shows another bullish W formation, indicating a powerful uptrend. Four-hour chart proves the market's strength after breaking support. Trend traders wait for confirmation above 141.96. 🎯 Weekly Bearish Bat Pattern at 149.45 presents a trading opportunity. Daily Gartley Pattern at X 133.60 offers buying potential for trend traders. Counter-trend traders eye a shorting opportunity at 149.18 on the rise. Four-hour Bearish Gartley Pattern at 143.06 sets the stage for another trade. ⏱️ Spend just 15 mins a day to spot money-making trades! Join our community to master trend identification. 💪💰 📉 Consider the resistance level at 141.25 or wait for a pullback to 139.91 for a buying opportunity on the one-hour chart. 💡 Follow my only account @raynlim for more insightful trade ideas and updates. 📈💡
Long
by RaynLim
🐻📉 S&P Bearish Gartley: A sharp Retracement Ahead! 📉📉Hey traders! 🐻📉 Are you ready for a retracement on the S&P in the 1-hour timeframe? Let's dive into this bearish setup! 📉📉 📈 Bearish Gartley: The price action on the S&P has formed a bearish Gartley pattern, with the price topping twice on point D. This reliable harmonic pattern signals trend reversal with a highly reliable consistency. 🕯️ Bearish Engulfing: Adding to the bearish case, the price has now formed a bearish engulfing candlestick, indicating a possible shift in momentum from bullish to bearish. 📉 Retracement Potential: Considering these technical factors, I'm closely watching for a sharp retracement to the 4500 area. and even lower if the bearish momentum remain. The market sentiment seems to be aligning with a bearish outlook. 💡 Moving Average Crossover: To further strengthen the bearish setup, the imminent crossover of the 9 and 21 moving averages is providing a solid confirmation of the potential retracement. Feel free to share your toughts in the comments section, follow me for updates and don't forget to press the like button if this insight was helpful🚀
OANDA:SPX500USDShort
by Thomas_Zito
1
NZDUSD → Retest of the key resistance area. DowntrendFX:NZDUSD bounces from the local support area and forms a retest of the strong resistance area. What to expect from the price in the nearest future? The US is having a day off today, but at the same time the PMI is coming out and it looks like the data might be bearish for the currencies, so if this is confirmed, the currency pair might show some bullish volumes. The price is about to retest the resistance area and a break-down of the resistance will form a strong momentum towards 0.63054. BUT! We have a bullish trend, rally to the resistance, which can be stopped by the upper border of the range. As a priority, I expect price decline within the price channel, but if resistance is broken, it will be necessary to rebuild the strategy. Support levels: 0.6116, 0.60692 Resistance levels: 0.61911, channel resistance, 0.62359 . As a priority I expect a false breakdown of the channel resistance, followed by downward price movement towards support. But if the fundamental background changes, the price is likely to break resistance. Regards R.Linda!
by RLinda
16
Counter-Trend MoveThis could be for you if you are waiting for a counter-trend move. A Bearish Gartley Pattern is expected to complete at 1.2605, but the earliest for that is on 12 Jun 23, 1200(utc+3); any earlier than that, the trade would be invalid. If a break and close above 1.2605 occur, I will wait for an M.C confirmation at 1.2659 on the ABCD pattern. Both of these Harmonic Patterns are counter-trend moves. On GBPUSD, that means a pullback trade. Overall, my sentiment remains bullish on the GBPUSD.
Short
by RaynLim
Wakey Wakey . . XRP Gart & FakeyHey crew, gonna drop this on ya. I probably shouldn't because "they" watch my sh!t close and I've had to figure out how to post price levels without actually posting my personal entry / exit points. I've literally had orders miss filling ROUTINELY by as little as .001 to .0001 which as you can imagine is enough to drive a person to drink lighter fluid laced egg nog even if it's NOT Christmas. So here's the shakey shake . . 1. Remember, XRP always pumps before dumps. 2. Keep an eye on Bitty and especially the S&P 500, there's some pretty good parity there and insight into overall market directions. It's still pretty comical that crypto will trade in some degree of parity to broader markets BUT, that's "probably" intentional because if "regulators" can make the case that crypto trades to 70% or greater correlation to broader markets then they can further strengthen their claim that crypto should be classified and therefore REGULATED like securites. (FtheSECbtw, you guys are F%$@#rs) 3. Garts pretty much NEVER play nice with XRP so don't be alarmed if/when this one doesn't either. Maybe we'll get some 50/100 day ema fingerbang action in which case, I'd be TP scalping from those 0.37 buys if you got em. I personally like XRP at lower levels, who doesn't? Even if you're a salty bull from > 1$ levels then you know it's just more opportunity to lower the cost basis, amirite? ;) Hold the line and don't be afraid to hedge even at these levels. I still think we have a date with 10 cents. Stay frosty and remember, * * * Not investment advice * * * Box
by FudBox