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EWT

SPX - clarity emergesSPX rallied strongly in what looked like a giant short squeeze and broke the green line (see previous idea). Also spiked above the melt-up channel. So that only leaves 1 bear option and one bull. After the spike above the melt-up channel, it reversed strongly and now broke below it. Which is a bearish reversal, in my view. Lows at red "or 3/C" should be taken out before market makes another high above blue "2/B". My preferred count is in blue - a complex flat for a 2/B wave, with 3/C down to follow. In red the alt count is shown. What is interesting is that the cycles over at mcm point to an important moment reached in the o/n. The currently painted high at 75 ES and ~83 SPX will be hard to be overtaken. mcm-ct.com
FX:SPX500Short
by alx13
SPX - decision point approachingThe picture is still bearish following the Brexit crash, but lots of options on the table as of now. We have 3 waves into the lows, so the bullish option is that a simple a-b-c correction finished at the lows and now we should go up (I see this as the underdog as of now). 2 bearish options open now: - most bearish is a bear nest - a series of 1-2 waves which 3 of 3 coming once the current wave up is finishing - other option is for a complex flat wave for the 2nd wave... the red count shown. At the moment, I view one of the bear options as favourite. If the current wave finishes below the green horizontal line, it will be tough to say which one it was, but it wouldn't really matter near term since the lows should fall in both cases. The melt-up channel is interesting to watch for test of the up&lower TL in the mean time. Good luck to your trades!
FX:SPX500
by alx13
INDIGO ShortThis is my first post in tradingview. I am new to trading of any kind.I have been trying to find my way using EWT. I think the stock is in ABC (Corrective) mode at present. I am unable to figure out if its still in A or it has entered B. I can see divergence in MACD (a. top of wave 3 and wave 5 b. top of wave 5 and current stock position) I solicit a few things from this awesome forum: 1. Is my wave count (1-5) correct? 2. If yes, Should one enter into a position to ride wave C? 3. If yes, what would be the strategy for that? 4. Also, I see the stock travelling within a band as shown. Does it have any significance? Thanks
BSE:INDIGOShort
by Withoutshoes339
"iShares MSCI Taiwan ETF forms bearish "Symmetrical Continuation Detected a "Symmetrical Continuation Triangle (Bearish)" chart pattern formed on iShares MSCI Taiwan ETF (EWT:NYSE). This bearish signal indicates that the stock price may fall from the close of $13.21 to the range of $12.70 - $12.80. The pattern formed over 15 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis. Tells Me: The price has broken downward out of a consolidation period, suggesting a continuation of the prior downtrend. A Symmetrical Continuation Triangle (Bearish) shows two converging trendlines as prices reach lower highs and higher lows. Volume diminishes as the price swings back and forth between an increasingly narrow range reflecting uncertainty in the market direction. Then well before the triangle reaches its apex, the price breaks down below the lower trendline with a noticeable increase in volume, confirming the pattern as a continuation of the prior downtrend. This bearish pattern can be seen on the following chart."
AMEX:EWTShort
by alex0404