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Bearish Gartley

Crude Oil potential swing tradeTVC:USOIL Price has just broken through the 71 resistance region. (We will confirm this once the daily candle closes significantly above the area.) A significant close above that would indicate bulls' strength and thus it would not be advisable to take the sell trade. Our ideal scenario would be for price to hit our entry point,72.61, and then reverse and form a bearish pin bar with body around the 71 area. Our sell limit is at 72.61 Stop loss at 76 and Take profit at 67.6 We will be watching carefully how today's bar closes.
TVC:USOILShort
by KKN_Investment_Limited
Oil short opportunity.This is a follow up on my previous analysis on Oil. This is it on a lower time frame and my view has not changed at all. Looks like it is still has some upside to go, but according to my analysis, that will be short-lived. We have a bearish cypher pattern and bearish gartley pattern both completing at $73. If you remember from my previous analysis on the higher time frame, we have a possible Head and Shoulders, my view now is that the right shoulder is most likely going to complete at that 78.6. Either way, I am bearish on Oil.
TVC:USOILShort
by KatlehoMaleka
3
US 30 near Pivot; Bearish Gartley Completed 9/14/18Dow index has reached 1.618 Fibo on B-D arm 9/14 when pattern is drawn from closing price tops of candle bodies. A previous idea of mine showed it from top of wicks. This is necromancy, folks. Somewhere in between lies reality. Expect to see that on Monday or perhaps Tuesday next week. Should arrive Thursday at the latest. Target zone for pivot is depicted in chart with price labels. R3 is at 26331; anything is possible but it seems unlikely, given the geopolitical milieu. Somewhere in the box between 26248-26288 is the most likely zone, just under the trendline reaching back thru June to April. On decline, target is S1 at 25790, previously tested. Lower of course possible depending on sentiment and panic levels. S2-S5 depicted with labels. Alternate path shown if rally fails; I expect index to test trendline in the box, however. We have an exhaustion gap on 9/13 to backfill in a bear pennant, and investor sentiment is now >70% bullish, VIX near alltime lows and three major indices making new alltime highs. See my linked post for explanation why 9/18 Dow of 26200 = 12/17 Dow of 27260. (Share buybacks, 2 components in bear territory.) As always, trade at your own risk as I do not pretend to give investment advice and this post is an idea for education and entertainment only- good luck!
DJ:DJIShort
by DaddySawbucks
US 30 in Complex ABC Correction WaveThis is a complex ABC correction coming off the August highs. Did not quite get to the Gartley Fibo at 26268, but within 100 pts of it for Fibo 1.55 will have to do. There is a clear corrective 5 wave impulse evident in the A down leg, which is an organized, complex actionary impulse (labeled 1-2-3-4-5). This is not like the WXY pattern we saw in early August, it's true corrective trend actionary impulse and will likely carry index to significantly lower levels. This represents early technical breakdown. We are near the end of countertrend reactionary B wave, which challenged Fibo 0.786 and then again came up to 0.618 before falling back. This is a bull trap reaction wave. Most recently, thanks to the Donald, a third rally attempt Friday to reclaim the highs was crushed. Thanks be to Trumptweets! Given the constant tweeting, ongoing trade uncertainty and most importantly, cash outflows from mutual funds as parents return from vacation and withdraw assets to pay for prep schools and new cars for their college kids, it seems unlikely the markets will rally high enough to challenge the August low-volume highs. It's no secret; people take their money out of the markets in September because they want to spend it. Real simple- seasonality. And what better time to cash out than at the alltime high?! 'A' wave carried Dow -362; B retraced 224 pts at Fibo 0.618; C will be rough, at least as deep as A length, quite possibly 1.618xA = -586, as low as index 25,335 (target zone). Look for a weak rally attempt early in the week of 10 Sep; before tweet Friday a rally was starting up and it is likely the bulls will try again once more. Look for H&S and ascending wedges as the market struggles to regain higher price levels to enter shorts. Short entry above 26000 will likely be profitable. As always, I post these opinions purely for speculative amusement and education, this does not in any way constitute investment advice; trade at your own risk! Good luck!
DJ:DJIShort
by DaddySawbucks
2
US 30 Bearish Gartley Near Completion - Closeup Personal ViewStarts to look like US 30 might fill the pattern in this bearish Gartley model after all. After 3 days of hard selling, pressure may abate and we ought to get a lift off the pivot at 26000, we saw strong resilience in US 30 over past sessions. In past two days, pattern of fierce selling relieved by bargain hunting in the afternoon. It appears that rotation is moving funds out of NAS & Sand P into US 30, which rose modestly on both Wednesday and Thursday, show of divergence in face of sharp declines in other indexes. -> "Flight to Quality" - seeking blue chips. RUT selling off, Sand P selling sharply then late day bargain hunting. Sand P has come down to support at its 20day moving average, and I expect it to bounce from here as well. Probably prudent to cover shorts if you're hoping for more bleeding, might be done for a while. US 30 is poised to move up the last leg to complete its Gartley pattern, see in chart how US 30 flight path is pointed straight at Fibonacci 1.618 from B-D?! NB: The trendline reaching back to Apr/Jun peaks intersects precisely at Gartley 'D' - coincidence? Perhaps... A final drive up to R3 will complete the pattern- only a measly 270 points north, could get easily there on one bullish Monday! Pulling money out of FANGs to move into Dow will do it. The pattern suggests a new lower high on/about Tuesday 11 September for US 30, unless bad surprise over weekend. After that- the big slide into the Zig-zag. I'm getting pretty excited thinking about the Big Short...! As always, this isn't investment advice, it's a fun post for education, enjoy it, and FGS be Carefull!
DJ:DJILong
by DaddySawbucks
US 30 Possible High Pivot Projected by Bearish Gartley1.618 Fibonacci extension line on the Bearish Gartley pattern intersects the high trendline, Demark pivot resistance and completes the Gartley pattern at 26268. Look out for the usual patterns- shooting stars, Pin Bar, H&S if we get them as clues. None to be seen anywhere 8/27 all day so it's probably going higher. Just a best guess. Good luck! This post for education and your amusement only. This isn't investment advice. Speculate in stocks at your own risk!
DJ:DJILong
by DaddySawbucks
9