Pitchforks
SPX, big pictureThis count has primary wave 1 peaking in October 2007, wave 2 a zigzag down to March 2009 low, wave 3 peaking in September 2018, wave 4 an expanded flat bottoming in March 2020 (COVID-19 low), and wave 5 peaking in January 2022. This would complete a full impulse from ATL to ATH.
After January 2022 (which would be wave 2 of largest degree), I have what looks like an expanded flat, which I project to bottom in the 2750-3250 area. The bottom of the C wave should at least pierce below October 2022 bottom. Count assumes that top of B wave is complete at 5264.85.
📈Long Setup on ETHUSDT📉 / ETH ---> 3500$BINANCE:ETHUSDT
COINBASE:ETHUSD
📈ETHUSDT Daily Long Setup📈
⚡️long position with mid-risk status.⚡️
TP 1-2-3-4 and SL are on the chart.
The Alternate scenario: If the price stabilize below the Bollinger midline, the setup will be cancelled
⚠️Don't forget to de-risk your positions.⚠️
NQ1!, big pictureIf NQ1! has topped for primary wave iii of v, the top of 18709 tagged the 3.618 extension of i from ii and, at the same time, it tagged the 5.618 extension of (1) from (4). From a technical standpoint, it's a beautiful finish. I would think that 11806.25 would hold as support, but technically wave iv can finish anywhere above 4884.
ES1!/NQ1! side-by-side comparisonSide-by-side comparison of ES1! and NQ1!. I'm proposing that both have impulse waves down from their ATHs to the lows of last week.
Areas in orange ellipses show ES1! holding its low and NQ1! breaking its low. I'm interpreting this as evidence that each bounced off their lows with corrective structures, ES1! with a regular flat and NQ1! with an expanded flat. With this in mind, the impulse waves up that we've had this week would need to be interpreted as part of larger corrective structures.
I think odds are better than a coin flip that equities roll over for more lows, with key support for ES1! at 5104.50 and NQ1! at 17668.25.
ES1! afternoon updateI think that if one is to interpret the move from 5333.50 to 4963.50 as an impulse wave, this is the best way to do it. Wave 1 of the impulse (orange ellipse) is a contracting leading diagonal. The proposed ES1! impulse wave down correlates nicely with NQ1!'s price action (NQ1! has an expanding leading diagonal in its impulse wave).
If the impulse wave from 5333.50 to 4963.50 is correctly identified, then wave 2 appears to be a double-three, with a proposed (c) of Y of 2 at or near completion. Bears would be looking to sell ~5148.50-5192.25. I don't think going long at this moment would be the best idea; bulls should have gone long yesterday.
Bulls wanting to get in now are likely waiting for more price action into the 5200-5300 range and looking to buy dips from there. Bears are likely closing long positions and/or entering short now.
📈Cardano 2D Long Scenario / It's time for ADA📉BINANCE:ADAUSDT
COINBASE:ADAUSD
Hello dear traders.
⚡️ In this post I will track the BTCUSDT movements from 11 Apr - 18 Apr.
📈 What to Expect Next?
💡As long as ADA is above the $0.5682 level, the bullish scenario is quite valid.
The bullish scenario targets are on the price chart.
🔑Key Insights:
📈If the bulls stabilize the price above the 0.5682 area, the accumulated volume will activate the green scenario.
📉On the other hand, if the price fails to stabilize above the $0.61, second scenario is going to happen.
📈Short-term Long Setup on ONTUSDT📉BINANCE:ONTUSDT
CRYPTO:ONTUSD
Hello Traders
📈ONTUSDT 15min📈
⚡️Quick Long position with a mid-risk status.⚡️
TP 1-2-3 and SL 1 are on the chart.
⚠️Don't forget to risk-free your positions.⚠️
📈Long Setup on TIAUSDT📉BINANCE:TIAUSDT
COINBASE:TIAUSD
📈TIAUSDT 1H📈
⚡️Quick long position with semi-high risk status.⚡️
TP 1-2-3 and SL are on the chart.
⚠️Don't forget to de-risk your positions.⚠️
NQ1! morning updateMy count has wave 5 of 5 of primary wave 3 complete, primary wave 4 projected to complete towards October 2022 low of 10484.75. I'm looking at 11806.25 to be support for primary wave 4. Area in orange ellipse ends of being an expanding leading diagonal 1 of 5 of 3.
ES1! evening updateWorking primary count has impulse wave from ATH at 5333.50 to 4963.50. Area in orange ellipse is suspect, so if this count doesn't play out, will likely need to go back and tease out this price action. Corrective bounce off low of 4963.50 appears to be an ABC zigzag. Looking for another impulse wave to complete a C wave or a 3 wave.
NQ1! morning updateI'm looking at price action from ATH as having completed an impulse wave down to 17181.75, with an expanded flat corrective wave (area in orange ellipse), likely to complete today. Wave C (bulls, green) or wave 3 (bears, red) should be another impulse wave down below low of 17113.25.
NQ1! morning updateI have one completed impulse down from the ATH at 18709.00. This impulse started with an expanding leading diagonal and finished at 17181.75. Bulls (green) see this an A wave, and bears (red) see this as wave 1. Bounce off low tagged the 23.60% retracement with a zigzag and then found a new lower low. With this I see two possibilities: either we start forming more impulse waves down or price moves back up towards 17553.25 to form a flat corrective structure.
BTCUSD evening updateAs a regular flat, this looked pretty reasonable, and then we got another daily lower low on our current candle. Bulls should be worried that the area in the ellipse is an expanded flat and, if so, would imply further downside is ahead.
NQ1! afternoon updateBullish count in green, bearish count in red. Completed impulse off high of 18709 to low of 17181.75. Impulse had expanding leading diagonal to start. Bulls looking for B wave in 17765.25-18261.75 area. Bears may already have the 2 in at 17553.25. If low of 181.75 holds, bears looking for the 2 no higher than 17854.
ES1! morning updateBull count in green, bear count in red. Tricky impulse down from 5333.50 to 4963.50. The question is whether the impulse is an A or a 1... if it is an A, I would think the bounce should be back up to 5148.50-5225.25 area. If it is a 1, the 2 could already be complete, but I wouldn't think the bounce to go any higher than 5123.25. The C or 3 should take us down to 4700-4800.
SPY bearish (pitchfork analysis)SPY continued up more than I expected but now there are multiple bearish pitchfork signs on the weekly chart.
SPX evening updateAn updated bullish count showing impulse wave 3 of 3 of 5 complete and wave 4 of 3 of 5 in progress. If this is correct, then wave 4 is looking like a zigzag, and I anticipate the (A) wave to complete between 4834.76 and 4929.37 before the bounce of the (B) wave starts. 5264.85 will likely be the top for the next several months.
BTCUSD afternoon updateLooking at EW triangle to still be in play. If bottom of the day (59729.39) holds as support, looking for impulse wave up to 70-72k area over the next week, with 72756.63 to hold as resistance.
ES1! afternoon updateBull count in green, bear count in red. Area in orange ellipse started off as chop monster, more impulsive action since 12 April. Given the depth and price action since ATH, odds moving strongly towards top being in. I am now watching for a larger (and more complicated) leading diagonal setting up. Even we get a (temporary) bottom today and move back towards 5200, I think bears will set in again and send us lower.
📈Long Setup on BTCUSDT 2H / Next Price Stage ---> 65K?📉BINANCE:BTCUSDT
COINBASE:BTCUSD
📈BTC 2H📈
⚡️Quick long position with medium risk status.⚡️
Bitcoin may continue towards the announced targets without any correction.
But if the price pulls back to the entry area , as long as it is above the pitch-fork (near white support), the long scenario will be valid.
TP 1-2-3 and SL are on the chart.
⚠️Don't forget to de-risk your positions.⚠️
ES1! evening updateAlthough 15 April was a bearish day, and the daily price action continues to give us lower lows, I think the possibility of a leading diagonal is now less likely. 5213.25 is now key resistance, and I anticipate that resistance to hold and at least one more daily lower low before a bottom is found.
ES1! afternoon updateBull count in green has wave 4 complete with a double-three, bulls need to hold 5150 and break above 5243.50. Bear count has leading diagonal 1 in progress, needs 51550 support to break and 5243.50 resistance to hold.
