SPX500 - Pattern repeating??
Just a simple look at the market repeating. In the Photo I have the TVC:SPX from 2008. In that example we have the market retesting the 200MA before we saw the major selling.
From the High in Oct 2007 until that retest was 221 Days and if we look at where we are today we are sitting at 224 Days and we have just hit the trendline from the top.
Can we go higher?? Yes we can as we still have the 4368 level @ the 61.8% but if we look at 2008 it didnt quite get there as well.
Major point to watch!!!
Just one way of looking at this massive rally.
I hope this helps.. Enjoy the week.
Patterns
Learn Ascending Triangle | Classic Price Action Pattern 📚
Hey traders,
In this educational video, I will teach you how to identify an ascending triangle.
We will discuss the structure and the bias of this patter
and how to apply that in analysis.
❤️If you have any questions, please, ask me in the comment section.
Please, support my work with like, thank you!❤️
SOLANA - INTRADAY TURN POINT. FTX:SOLUSD looking at a possible turn point for today around 15:30.
This could be a high or a low but as it stands a move up to the 37.50 - 38.00 level would be the best set up.
Just a look at how I use the AI to time trades. If its not a high or a low then it wont work.
Enjoy the day.
ETH - Getting close to the end of correctionCOINBASE:ETHUSD is getting close to the end of this correction.
Are we finished here or do we get to 2k before the final sell off to 6-700??
For me its still looking corrective and a move to 700 is likely to be coming shortly.
What will be the catalyst for the next move lower?
Trading much like the stock market, We have just come off a week where US Interest rates were raised, big earnings from the major companies and the onset of a recession due to 2 negative GDP quarters and yet the markets are higher.. 🤔🤔🤔🤔
2 CIT Windows on the 6th and 19th of August. These will be crirical for direction.
Wait to see what next week brings and go from there.
Ascending wedge breakout short saleThis is Siga. If you view on a different chart this has formed a giant inverse head and shoulders on the monthly candle from 2011
From the bottom after re listing on the major exchanges ( it went otc pink back in the day)
Measuring from the bottom to the top of a multi year ascending wedge Then measuring again from the resistance of the wedge to the price now.
I’m short. -5000 shares cost average 17.50
It’s like a miniature UPST Which I rode from the mid 200s short all the way to 400. Averaging up slowly. All the way back to reality
How To Analyze Any Chart From Scratch - Episode 11Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
Today we are going to go over a practical example on GBPAUD, but you can apply the same logic / strategy on any instrument.
Feel free to ask questions or request any instrument for the next episode.
You can find the previous episodes below "Related Ideas"
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
NIKKEI - Gartley completion on the Spike high.OANDA:JP225USD Has completed a Gartley Sell signal this morning on the open of the Asia Session.
The Daily AI had a top at that time as well.
First area to watch will be around 26300-26430 area below there would set up a 25500 Double bottom.
If it gets up above 27k then we will be looking at 27500-27800 bigger Gartley area.
Some levels to watch. Enjoy the day.
ASX200 - Double Gartley'sOANDA:AU200AUD is setting up for another Gartley sell pattern.
This time we have the choice of 2 to choose from.
The first one comes in at 6730 the smaller pattern.
The second would see it going up into the 12th of July which would give it equal time and price.
These come on the back of the previous Gartley sell at 7297.
Its great when patterns line up one after the other.
I hope this helps. Enjoy the day.👍👍
Pennant in Nasdaq 100This pennant has a strong probability to generate a directional move, 15-20% in either direction. Wait for breakout and trade accordingly. Make sure to stay flexible and reverse the position if a headfake occurs.
Generally speaking, pennants usually continue the previous trend, and so a downwards breakout should be given a higher probability of occurring.
SPX - Gaps to fill?? TVC:SPX Hard to imagine but could we see a fast rally back to 4020 to cover the gaps before the next major sell off.
4020 is the 382 from the March high and also the 707 from the recent June high.
That would get people thinking that the drop is over and we are onto new highs.
Watch these levels over this week.
I hope this helps enjoy the day. 👍👍
Bearish Pennant Break Out & Wave TheorySPX Forming a bearish pennant that is setting up the market for its final corrective wave within the elliot wave theory cycle.
Best case scenario is 3500 level, worst is near 3200. I think that this final corrective wave will not be a slow and steady decline.
Looking for Primary wave cycle Y to get fulfilled.