Google Gapping Down. GOOGLWhen gaps occur in an overstretched market in the opposite direction to the trend, these tend to become areas of resistance and do not get filled. Here, the price action prior to the gap flipped the VZO, BB %pct and Ehlers StochRSI. Adding fuel to the fire, vWAP and US are in tandem acting like resistances to downward price action.
Oscillators
Bullish on the Euro Dollar. USDEURSwitching to FOREX, momentum and volatility reversal is evident on this pair technically. There is a confirmation by MIDAS line cross ~ actually a triple cross of MIDAS, vWAP and US lines by that engulfing bullish candle. If this is not a switch of modality then its a whipsaw.
170% rally for Koma INU ??Requested TA, more than once.
On the above daily chart price action has dropped over 80% since early December. A number of reasons now exist for a long position, they include:
1) Price action and RSI resistance breakouts.
2) Volume, a lot of new volume. See MFI breakout.
3) Reversal / hammer candle.
4) Resistances as shown, first 170% above. After that, blue sky.
Is it possible for price action to correct further? Sure.
Is it probable? No.
Ww
Type: trade
Risk: high, tiny market cap
Timeframe for long: sooner than you think
Forecast: 170%
Current bitcoin bullflag has a target of 144kBeen consolidating inside this one for some time now and its been creating a lot of uncertainty in the market lately as most people have been distracted by the bearish h&s pattern on the Daly chart and haven’t zoomed out to the higher time frames to realize this whole time we’ve ust been consolidating inside this bullflag. The stochrsi has already been reset for awhile on the Daly time frame and is about to be fully reset here on the weekly time frame too sugget we will resume the uptrend in the near future. *not financial advice*
Shorting BlackRock Back to Stone Age. BLKEllioticians will have fun with this one, because this is a debatable chart wave-wise. Now what else is going on here technically? Volumes, volatility stochastics and momentum are downgoing. Bollinger Bands are no doubt showing something bearish undergoing as well. US/vWAP cross and resting above candles as well. This is a constellation that can't be not taken seriously.
Reversal on Mondelez Looking Favorable. MDLZA clear Elliott 5 wave impulse down is complete, along with classical divergences on the momentum indicator. Willing to bet that this is a reversal with MIDAS line cross and US/vWAP acting as resistance in synchronicity. Interestingly, there's a double harmonic that formed in the more long term aspect - a deep Bat and a butterfly within deep bat. VZO and Ehlers Stoch/RSI are divergent, so disregarding the readings in this instance.
Bank of America Wave Analysis – 7 February 2025
- Bank of America reversed from resistance level 47.80
- Likely to fall to support level 46.00
Bank of America recently reversed down from the resistance zone located between the major resistance level 47.80 (which also stopped the earlier minor impulse wave 1 at the end of last year) and the upper weekly Bollinger Band.
The previous downward reversal from the resistance level 47.80 created the daily Japanese candlesticks reversal pattern Evening Star.
Given the strength of the resistance level 47.80 and the bearish divergence on the daily RSI, Bank of America can be expected to fall to the next support level 46.00.
Amazon Wave Analysis – 7 February 2025
- Amazon reversed from the resistance area
- Likely to fall to support level 226.60
Amazon recently reversed down with the downward gap from the resistance area between the pivotal resistance level 240.00 (which has stopped the previous waves iii and i), the resistance trendline of the daily up channel from August and the upper daily Bollinger Band.
The downward reversal from the resistance area started the active short-term correction ii.
Given the strength of the resistance area near the resistance level 240.00 and the overbought daily Stochastic, Amazon can be expected to fall to the next support level 226.60.
Dow Jones Wave Analysis – 7 February 2025
- Dow Jones reversed from the resistance level 45000.00
- Likely to fall to support level 44000.00
Dow Jones index recently reversed down from the strong resistance level 45000.00 (which has been reversing the price from November) coinciding with the upper daily Bollinger Band
The downward reversal from the resistance level 45000.00 created the daily Japanese candlesticks reversal pattern Dark Cloud Cover after the index created Bearish Engulfing at the end of January.
Given the strength of the resistance level 45000.00 and the overbought daily Stochastic, Dow Jones index can be expected to fall to the next support level 44000.00 (low of the previous correction (2)).
GBPUSD BULLISH CRABHarmonic Pattern Trading Strategy:
1. Combine patterns with 2-3 confirmations (e.g., MA, BB, RSI, Stoch) for increased accuracy.
2. Implement proper risk management.
3. Limit exposure to 3% of capital per trade.
4. Exercise caution: Not every Harmonic Pattern presents a good trading opportunity.
5. Conduct thorough diligence and analysis before trading.
Disciplined approach = Enhanced edge.
META & COST are overboughtMETA & COST are overbought. With a RSI by 80 and trading above it's outer ATR band of 3x standard deviations. Once momentum fizzles out, gravity will bring META & COST back down to SMA20. So here's a straightforward trading idea.
META levels:
ATR 23
SMA 20 = 653
SMA50 = 623
SMA100 = 598
SMA200 = 545
COST levels:
ATR 20
SMA 20 = 965
SMA50 = 963
SMA100 = 932
SMA200 = 882
META short trade idea:
short 715
stop 725
profit 655
COST short trade idea:
short 1060
stop 1070
profit 965
META options data:
2/21 expiry
Put Volume Total 20,489
Call Volume Total 25,697
Put/Call Volume Ratio 0.80
Put Open Interest Total 105,207
Call Open Interest Total 131,858
Put/Call Open Interest Ratio 0.80
3/21 expiry
Put Volume Total 8,533
Call Volume Total 19,062
Put/Call Volume Ratio 0.45
Put Open Interest Total 101,527
Call Open Interest Total 110,511
Put/Call Open Interest Ratio 0.92
4/17 expiry
Put Volume Total 4,053
Call Volume Total 5,625
Put/Call Volume Ratio 0.72
Put Open Interest Total 32,737
Call Open Interest Total 53,495
Put/Call Open Interest Ratio 0.61
COST options data:
2/21 expiry
Put Volume Total 4,458
Call Volume Total 5,217
Put/Call Volume Ratio 0.85
Put Open Interest Total 11,521
Call Open Interest Total 12,621
Put/Call Open Interest Ratio 0.91
3/21 expiry
Put Volume Total 3,210
Call Volume Total 3,064
Put/Call Volume Ratio 1.05
Put Open Interest Total 25,964
Call Open Interest Total 22,294
Put/Call Open Interest Ratio 1.16
4/17 expiry
Put Volume Total 592
Call Volume Total 1,388
Put/Call Volume Ratio 0.43
Put Open Interest Total 10,602
Call Open Interest Total 8,988
Put/Call Open Interest Ratio 1.18
Boeing is still flying. BAPretty strong evidence for continuation of upward price action o this one. We are certainly waiting on a RSX momentum divergence to form here, hopefully in the upwards of 1.0 Fibonacci extension of the immediately previous move. Markets are very fluid, and as such percentage probabilities vary with time passing. What looks right today, may not look so tomorrow.
Betting on Cool Down at Thermo Fischer. TMOIt's not a perfect butterfly, but I am willing to take a shot given the wealth of evidence in the background from our algorithmic indicators. MIDAS cross line plus resistant vWAP and US, which also crossed 4-5 candles ago, plus cross on VZO and heralding cross on Stoch/RSI. BB %PCT is about to flip also. Highly, highly suggestive picture.
What is Up with Bank of America? BACBetting on an extended B wave here. The indicators are reflective of the recent upward price action and in agreement wit the idea of more upward momentum and volatility. Usually extended B Waves, when confirmed go to 1.2 Fib extension, never surpassing the 1.618 figure. This classic teaching sure proved to be accurate in our practice. Good luck!
Bearish on Salesforce. CRMA very nice confluence here as well. The most glaring is the green MIDAS line cross on the background of downgoing vWAP, US lines, which are above the candlesticks. Looking below, the picture adds more confidence in crossing of the midline for both VZO and Ehlers Stoch/RSI indicators. Price action alone is very bearish. Good luck out there.
Up,Up and Away for NVidia. NVDAThere is a constellation of indicator crosses that add meaning to go long on this one, at least in the short run. There is a confluent cross of VZO plus offset and Ehler's Stochastic RSI. Also BB %PCT is looking to cross soon. Adding to the above, both the vWAP and US are supporting upward momentum on price, exiting OBOS area on momentum indicator, but most importantly there is a cross off the green MIDAS line. In our experience any cross of a volume/volatility line is highly, highly significant, presumable because volumes are in essence predictive. More broadly, there is a completed deep butterfly harmonic and now what appear as A wave to be also completed.
RUNE/USDT – Oh man... maybe up :)?The RUNE/USDT pair has seen a significant drop recently. That was sad.
Despite the decline, the MACD indicator is showing a bullish divergence, which could signal a reversal.
Main support and breakout zone to further decline is at 0.94 and possible take-profit zone around 1.95. I am hoping to reach 1.95 in this, maybe next week. What will happen next? Bitcoin will tell us.
Things look promising because of low activity in price action recently... something is about to happen.
Long Trade: Kaspa vs Ethereum Daily ChartFG-Histogram turned green and into the positive zone, as well as Bullish Divergence established on the daily.
Previously, a bearish divergence with the FG-Histogram subsequently turning orange marked the start of the dump in September 2024.
Have been slowly DCAing more into KAS from ETH within the golden pocket again, while setting stop limit below the 65% retrace level.
JPM - Biggest bank in the US with good upside potential?Hi guys, we are taking a look into the Biggest US Bank. Recently their catch on and join forces into participating with AI gives a positive up-beat for their business additionally,
JPMorgan Chase continues to solidify its position as a global leader in financial services, showcasing exceptional financial health and a promising outlook. With a well-diversified portfolio and a consistent track record of strong performance, the company is a beacon of stability and growth in the industry.
The leadership at JPMorgan Chase has demonstrated an unwavering commitment to innovation and strategic planning. Their investments in cutting-edge technologies, such as AI-driven solutions and digital banking platforms, position the company to thrive in an increasingly digital economy. Moreover, their proactive approach to sustainable financing and environmental initiatives highlights a commitment to a forward-thinking and socially responsible future.
What stands out most about JPMorgan Chase is its ability to adapt to evolving market dynamics while maintaining robust profitability and delivering value to shareholders. This resilience, combined with their global reach and customer-focused services, ensures they remain at the forefront of the financial industry.
For investors, clients, and partners, JPMorgan Chase represents a secure and dynamic choice, offering both stability and exciting opportunities for growth. The future is undoubtedly bright for this financial powerhouse.
My entry; 238
With a positive target: 285
As always my friends happy trading!
P.S. If you have questions or inquiries about one of my existing set-ups or personal questions / 1 on 1 sessions consider joining my channel so you can follow up with me in private!
COSTCO - Time to break above and beyond the All time HighHi guys , today we are going to overview one of the retail giants COSTCO.
Fundamentals :
Revenue Growth and Profitability :
Consistent Revenue Growth: Costco has demonstrated steady revenue growth, driven by an expanding membership base, increased same-store sales, and international expansion.
Profit Margins: While Costco operates with low gross margins due to its focus on low pricing, its operating margins benefit significantly from recurring membership income. This structure ensures financial stability even in competitive environments.
Financial Health:
Balance Sheet Strength: Costco has a strong balance sheet with manageable debt levels and ample liquidity. Its ability to generate robust free cash flow supports both operations and shareholder returns.
Dividend Growth: Costco pays a reliable dividend, which has seen consistent growth over the years. Additionally, the company occasionally issues special dividends, highlighting its commitment to returning value to shareholders
Valuation Metrics:
Price-to-Earnings (P/E) Ratio: Costco often trades at a premium valuation compared to peers due to its consistent performance and strong brand equity.
Price-to-Sales (P/S) Ratio: Reflecting its robust revenue generation capabilities, Costco’s P/S ratio is higher than the retail industry average but supported by predictable growth.
And some potential risks : Thin Margins: Costco’s low-margin strategy leaves little room for error, and rising costs (e.g., labor, logistics) could pressure profitability.
Economic Sensitivity: While generally resilient, Costco could face challenges if economic conditions significantly impact discretionary spending or if competition intensifies.
Foreign Exchange Risk: With international operations, Costco is exposed to currency fluctuations that could affect earnings.
Technical analysis : The company has been running on a very healthy uptrend throughought 2024 and has had 4 green earning seasons which gives a positive bullish trend conversion,with analysists focusing on another green earnings in their Q4 report this gives us the necessary confirmations for a up-trend:
Entry has been made at : 921
Target will be above the ATH : 1030
As always my friends happy trading!
P.S. If you have questions or inquiries about one of my existing set-ups or personal questions / 1 on 1 sessions consider joining my community so you can follow up with me in private!
AUD/USD: Battle at .6262 – Bounce or Breakdown Ahead?AUD/USD is testing minor support at .6262 following a failure to break the 50DMA. Whether it holds this level may determine which direction it takes later in the session.
If the price can’t break .6262 convincingly, longs could be established above with a stop beneath for protection. The aim would be to see a retest of the 50DMA with a break of that level opening the door for a run towards .6337.
However, a clean break of .6262 could see the setup flipped, with shorts placed below the level with a stop above for protection. .6170 screens as one possible target with .6088 the next after that.
Momentum indicators are providing mixed signals with RSI (14) trending lower while MACD has resumed its climb higher. Based on price action earlier in the week, a bullish bias is marginally favoured overall.
Good luck!
DS