S&P 500 (SPX) - May 6th Week Ahead Bullish Forecast This week, we've observed a bullish signal with a weekly harami candlestick pattern, indicating potential upward momentum. Here's the forecast for the week ahead: Short-term Outlook (May 6th Week): We anticipate the S&P 500 to continue its bullish momentum, aiming for new highs. The weekly harami bullish close...
We have been hovering close to all time highs. This is the 1-5 structure of EW, with a corrective ABC to below 6700 GZ marked on the chart. Alternative could be extension of the last V. wave above 8100 (unlikely). Look for shorts at: -CMP -7820 -7908 as the top. Goodluck.
The chart shows my rudimentary understanding of Elliott wave patterns, and I am aware that wrongly applying EWP will ruin trade ideas. Thus I am inviting EWP experts to offer their insight here. Feel free to read my view below and support or correct it with your expertise. Thank you! My blue line shows a 5-wave impulse pattern down, while the gray line shows a...
Since the start of November of 2020 NIO has traded in an uptrend as pointed out by other traders interested in NIO. More recently it has been moving in a descending wedge pattern as it trades to the lower range of its uptrend to find support. On the daily chart, NIO is also finding support on the 25 day SMMA (and support on the 50 day SMMA on the 4hr) this seems...
correction soon possible
This is a W1 chart of Microsoft. The purpose of this post is to follow major companies whose share price affect the general financial market in order to anticipate the depression/recession that is to come. This analysis is based on EWP in combination with fibonacci levels, and some reversal candle stick formation in the end. After the correction of 2008-2009,...
If the price will go below red line - correction is continuing. If the price will go higher green line - you can open long.
Red line is the level of invalidation. If the price will go below this line, then i'll consider the 2nd version (gray)
The main idea is to buy oil futures. This conclusion was based on Elliott wave principle. I hope you know basics of this type of techical analysis, if not i suggest you to read elliott wave principle by Robert Prechter. Lets come back to chart. Overall I suspect that we will see strong impulse move, that will end 4th wave and than we will see new bottom near 15...
Downtrend - S/L 0,76250, T/P 0.71500