Using Harmonic Pattern Completions to Set Direction of TradeIn this short Tutorial I discuss using Harmonic Pattern Completions on Higher timeframes to give you direction of a trade. Then moving down to a day trading timeframe and using the xbratalgo to give signals in the direction dictated by the Harmonic Pattern. And then using the Divergence Cloud to confirm trade. I used Silver Futures as an example in this video, but the strategy is the same for stocks, forex and cryptocurrency.
I hope this helps
Futurestrading
Breakout in E-mini S&P 500 or retracement to bottom of channelWithout a doubt, the trend on the S&P 500 has been bullish. Will this momentum continue and will it breakout the 3850s today? A bullish crossover in MACD and Relative Strength now pushing above 50 indicate the probabilities are in our favor. Fibonacci extensions suggest an upward target of around 3884. That is a nice 1.5R on one lot. The volume will show us conviction in which direction it will go. Be aware of a possible fake out if the volume does not confirm.
NQ=F keep pushing higher as negative divergent extendsHere is the daily chart of Nasdaq 100 e-mini Future. Despite of what's going on with macros, it keeps pushing higher day after day. I am just waiting to see the catalyst and a signal to enter a short trade. ES=F has a very similar posture as well. I also added support levels which will likely to produce some reactions as well as upsloping trend lines. Yellow trend line is from the 2008/2009 Great Recession. Given the put to call ratio, extreme euphoria, and extreme bullishness in public sentiment, I expect down move to be very fast and swift.
Am I right or wrong? Only the time will tell....
Have a good trade, everyone.
T.
NQ Power Range Report with FIB Ext - 1/14/2021 SessionContract - CME_MINI:MNQH2021
- High - 12988.00
- Low - 12967.25
Evening Stats
- Gap: = N/A
- Session Open ATR: 200.37
- Volume: 29k
- Open Int: 235k
- Trend Grade: Bullish
Key Levels (Rounded - Think of these as a range)
- Long: 13337
- Short: 12415
Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
Reversal play #metalsSelling copper here with a stop at 3.7500. After the failed breakout attempt last week I think the metal could reverse lower toward the bottom of the range- 3.4780. Inflation is certainty a topic that is widely discussed and copper has been a big part of the story, but in the near term the rate of change (22 days) has slowed and it is still below the most recent range high after a failed breakout attempt.
NQ Power Range Report with FIB Ext - 1/13/2021 SessionContract - CME_MINI:MNQH2021
- High - 12901.00
- Low - 12872.50
Evening Stats
- Gap: = N/A
- Session Open ATR: 200.94
- Volume: 16k
- Open Int: 231k
- Trend Grade: Bullish
Key Levels (Rounded - Think of these as a range)
- Long: 13337
- Short: 12415
Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
Bond Update #bondsThis breakout trade out of the December range (rectangle)to the downside to the lows set back in March has been even better then expected but as we approach those lows it is decision time again. Because I have good trade location I am going to hold the short position even if we get an immediate term bounce. I am watching to see if we can hold below 169'00. If we can the downtrend is still intact. How price reacts here at 167'00 will be interesting to watch though because if rates are really going to rise this time, the down move could be strong if we can make it below 167'00. Despite the FED and the economy not fully being open, bond yields are certainty indicating inflation for now.
NQ Power Range Report with FIB Ext - 1/12/2021 SessionContract - CME_MINI:MNQH2021
- High - 12929.25
- Low - 12898.25
Evening Stats
- Gap: = N/A
- Session Open ATR: 201.30
- Volume: 18k
- Open Int: 229k
- Trend Grade: Bullish
Key Levels (Rounded - Think of these as a range)
- Long: 13337
- Short: 10650
Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
Reversing Short to Long at 1051.0Stop: 1000.0
Our reversal trade was invalidated and we are no looking for continuation to the upside similar to our reversal trade in mid-November.
Ingenuity Trading Model is an algorithm used in- Stock, Forex, Futures, and Crypto markets. The model is a Geometric Markov Model : Focuses on reversal and continuation wave structures
In probability theory, a Markov model is a stochastic model used to predict randomly changing systems. Markov Models are used in all aspects of life from Google search to daily weather forecast. The randomly changing systems we focus on are the equity, futures, and forex markets. The geometric element of the model is the fractal sine wave structure you can find on any chart you look at across any market and across all time dimensions.
Our model focuses on the current sine wave formation (current state)- geometric price formation along with its volume and volatility over a given time period and using that information to predict the future state- future price movement. For questions or more information feel free to contact me in the comment section or via private chat. To view the entire portfolio and track our performance visit our site.
No more shineI did a post outlining my perspective on gold earlier this week but todays price action has changed the game. Gold started of the week on a positive note holding above the weekly range around 1910 (rectangle) but within the past couple of days it has sold off and now looks to be breakout out on the downside. The monthly rate of change has now also turned negative. If we see any strength next week back into the range area I am a seller with a stop above the high of today. If todays price action was any indication of the future we could see the late November lows (1767) be tested. I don't use fundamental analysis to make any trades but interests rates rising and any dollar strength could also be a headwind for the yellow metal
How far will #oil spill?The area to watch is 45.69 to 46.16. If crude oil remains above that level the trend is still bullish. A solid close below 45.69 would be bearish or neutral at best. That threshold area, or pivot point area is the low end of the recent range (white rectangle on the chart). I use those areas to determine trend and where I generate potential trades on any asset. Also keeping an eye on net volume to see whether its expanding or contracting into a pivot zone. Even though there was heavy selling today there is still some space between here and there for now.
NQ Power Range Report with FIB Ext - 12/31/2020 SessionContract - CME_MINI:MNQH2021
- High - 12855.75
- Low - 12840.00
Current Stats
- Gap: = N/A
- Session Open ATR: 165.99
- Volume: 8k
- Trend Grade: Bullish
Key Levels (Rounded - Think of these as a range)
- Long: 13337
- Short: 10650
Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.
NQ Power Range Report with FIB Ext - 12/29/2020 SessionContract - CME_MINI:MNQH2021
- High - 12853.25
- Low - 12840.25
Current Stats
- Gap: = N/A
- Session Open ATR: 177.86
- Volume: 11k
- Trend Grade: Bullish
Key Levels (Rounded - Think of these as a range)
- Long: 13337
- Short: 10650
Keep in mind this is not speculation or a prediction. Only a report of the Power Range with Fib extensions for target hunting. Do your DD! You determine your risk tolerance. You are fully capable of making your own decisions.