Dow Weekly Deep Crab Min. Target+5% More!STAY BULLISH on this WEEKLY C-D leg breakout up to MINIMUM 1.618@204.
I've been discussing these targets for months (INDU=20,500 Minimum)
HARMONIC TRADER TIP: In Crab+DeepCrab patterns, EMPLOY THE 1.902 extension, especially when the trend is strong. The trend is STRONG so look for DIA to reach for 214.50 area for this situation.
Scottcarney
USDCAD Bearish AB=CD w/ RSIHello Harmonic Traders!
I would like to begin my renewed contribution to the HTTV community with the following Bearish AB=CD Type-2 harmonic resistance at a critical juncture. The DAILY RSI is stalling at the 50-midline. The general 61.8% retest at the 1.34 level as measured from last year's peak defines the price zone for a larger downside continuation with a swing objective to the 1.28 area.
Check back next week for a few new free Harmonic Trading tools that we are releasing for Trading View in 2017!
Facebook AB=CD@128!Facebook just completed an AB=CD from the past year! If the mkt is going to breakout, FB must surmount this harmonic resistance. Although the stock will temporarily consolidate at this natural level, keep an eye on "Zucker-book" ABOVE 130 for the trigger of a year-end NASDAQ breakout.
ESM6 Bullish Bats - TYPE2 Support ChallengeI am BEARISH on SPX w/ 1570 as the big WEEKLY target. These Bullish Bat patterns are great intraday long trades but the trend is down. We just hit the TYPE2 reversal of BOTH. This is the line in the sand for bulls - short AND long-term. A violation of 2030-2035 will trigger the decline. The #s to watch on the downside are 1950, then 1830 then 1570.
The Final Selldown for EURJPY - 121.88EURJPY is likely to complete a deep gartley pattern at 121.88. (Factor in your spreads for entry)
This is the price I am aiming for my entry hopefully by this week.
I hope to see RSI hitting oversold, this is a daily shark pattern which can easily hit 61.8 retracement of the C-D leg.
Potentially a 1:8 risk to reward trade setup.
Failed bearish Shark Pattern, Gold poised to rise further?Gold completed a bearish shark pattern in mid May 2016.
Price reacted to that level.
1 month later, this level is retested and broken above.
Price action in the next few weeks is very important.
Any further strength, we could see Gold back at 1350 or higher.
Any steep drop back below 1280 could prove the validity of this pattern and we could see Gold trading below 1280 again.
Multi market analysis tells me that that Gold should go higher.
Class II Bearish Shark Butterfly PatternA really bad Bearish Shark Butterfly Pattern . I would estimate neutral or bearish in position off of point "D". Probably until mid-afternoon tomorrow, Friday 04/15/16. At best, $6.90 before uptrend reversal. At worst, continues uptrend from "C" into $7.70, which would be awesome if I had the balls to go deep and buy to enter into this position. Could be another day for a 25% mover. Very dangerous.
Point "C" is an expanding wedge, hence the uncertainty. Nevertheless it doesn't matter since my cash account cannot short this outlook and I will only be watching it at a distance.
I also forgot to mention that if you look closely at 04/14/16 @ $7.40 there appears to be a subtle Double Top , and the indicators before that shows the Stochastic RSI way above 15, 80.00 signaling perhaps a late bearish pullback.
A Bullish ab=cd within CD Leg of 5-0 Pattern (RARE)! Scott Carney Vol 2: "The smaller ab=cd acts as an effective structural signal that validates many successful reversals. Furthermore, I believe that a Bullish 5-0 with a smaller ab=cd is a technically more significant harmonic structure than a pattern without one" (85)