SP500 CASH - Another Bear market Rally??SP:SPX is in the process of another Bear market rally after yesterdays CPI data gave us one of the biggest one day rallies of all time.
But if we look at the previous rally with time and price that gives us an upside target area of between 4150-4200 for around early December.
If we get there earlier and go through 4200 then a major low could be in and we head to new ATHs again.
The FED is in there again giving us the higher interest rate story but helping the market at the same time.
This is also a seasonly bullish time for the market so it will be an interesting few weeks going into the end of the year.
I hope this helps.. Enjoy the day.
Timeandprice
New York Open Killzone Explained | Real Trading Concepts8:30 in the morning NY Time is what your eyes
👁️👁️ should be on. This time of day unleashes huge volatility in the market that you can take advantage of if you know how to benefit from it.
Price at this time likes to entrap a lot of retailers to revers against them and take stoplosses.. Every day at this time..A Lot of news, a lot of volatility, and clear direction and price movements..
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Let me know your opinions in comments 😉
GOLD - PB to Buy then more Downside. OANDA:XAUUSD also had a nice rally on friday. Now we look at how it reacts on Monday.
Ideal scenario would see us get a 382 retracement back to the 1643 area to then look for the equal leg ABCD towards 1680 and potentialy a move to the 61.8% 1733 and beyond.
But as we are in a down trend we need to be selling any ABCD Retracements.
Another one to watch early Monday. 👍👍
SPX retraced 50% of the post-Corona Bull in 50% of the time- BTDTLDR: THE SPX HAS JUST RETRACED 50% OF THE UPMOVE IN PRICE SINCE MARCH 2020 IN 50% OF THE TIME; THIS PROBABLY WASN'T A BEAR MARKET, BUT A TECHNICAL CORRECTION
The 50% Rule of W.D.Gann states that an asset will usually retrace 50% of its range in 50% of the amount of time that it took to establish the range.
Doctor Alan Andrews described the Action-Reaction system of technical analysis which also aligns with Gann's above theory
As far as i can tell, apart from the Doomer WWIII-Weimar2.0 Narrative , the best arguments as to why the bottom is not in are as follows:
1. Bear Markets last longer than 10 months
2. The Vix needs a bigger spike, >40
3. Fed 'printing'
History rhymes: hence in the first grey box...We see that in 2016-2018 there was a bullish phase (1-2) following which the market retraced 50% (2-3) over around six months and there was no capitulation spike in the vix; there was no QE going on in this period.
Since the corona pandemic, we have had a bullish phase (A-B) and now a 50% retrace of that move (B-C) for over 9 months.
I believe this has been a 50% technical retrace of the parabolic upmove between pivots A and B. I do not believe we are in a Bear Market.
The 2016/18 bull move in spx was circa 60% in 3 years
The post corona bull move in spx was circa 150% in just over 18 months
A retrace of 50% in circa 6 months for the 16/18 move is comparable to this 2022 retrace over circa 9 months. Because this parabolic move up since the Corona drop was so brutal- it needed longer to retrace the move.
BUT MOREOVER SPX HAS JUST DONE THE PERFECT 50% PRICE AND TIME RETRACE
Yes the economy is challenged by the growth versus inflation paradigm... Some things never change... The market is not the economy and the market is forward looking... Yes i do believe great system change is inevitable, but i believe it is fiat currencies rather than equities that will bear the biggest brunt of this- pun intended.
GRI 2022
***NO ADVICE 'EVERGIVEN'*** (you can't Suez me ;-)
How to define the end of a correction based on time - EWHi EW Fans,
made you a CheatSheet how to define the end of a correction based on time. If you are sure about the start of a wave/impulse you can very easy define a possible time "vector" for the end of the correction.
Start of the impulse = Zero
Top of the impulse = 0.382
End of the correction at the common Fib numbers: 0.681/0.65; 0.89; 1; 1.272; 1.618 and so on.
If you combine it with a Fibonacci Retracement Tool (LogScale) you are able to define a price and time "vector" for a possible reversal or for the next impulse/wave.
Greetings
USDCAD- HIGHER PRICES!! FX:USDCAD on the longer time frame it looks as though we are heading a lot higher towards 1.3000 - 1.3300 areas.
1.3026 is the 382 from the 2020 high.
This is also the area where the ABCD will finish from October last year.
There is also the bigger ABCD from June last years low.
Once these patterns finish later in the year there could be another big sell off.
Things to watch going forward.
As it stands im looking for a pull back to get long.
BTC UPDATE - STILL MORE DOWNSIDE??Not much has happened over the last week but a very weak rally which is looking corrective.
There might be one more low to the 78% around 19237 then I will be looking to short a rally back to the 22-23k area chasing the final move lower towards 12k.
Just an update for today, no trades as it is I will just wait for the pattern to show itself and go from there.
Enjoy the week!! 👍👍
SP500 - Intraday turn points.I have marked out the Intraday turn points fot the FOREXCOM:SPXUSD .
Ideal Scenario would see a rally into 4030 @ 00:30 just over half way through the US Session setting up another Sell signal.
The other option for this is that it could be a low and mark a reversal.
The other Key Time is @ 21:30 this might set in motion the next move higher.
This is a time based strategy that can be a low or a high.
Lets see hoe this plays out..
This doesnt always work but when you use patterns with it, it can give you an edge.
BTCUSD - A Simple way to look at things. In this look at COINBASE:BTCUSD I just use simple patterns and timing to give us the downside target of around 12k.
This lines up with previous market tops and lows when it retraces up to 88.6% from the ATH.
The other reason for one more low is the fact that the 3-4 week rally from the June low was very weak.
There is also the pattern of high to high high which gives us around 140 days and we are headed lower from there.
The FED also said that rates are going up for the forseeable future to curb inflation and we know that Bitcoin doesnt like that as it runs like a tech stock now.
Anyway some thoughts for now and we need to find a small rally to get short..
The next few days will be key.
ETHUSD is running the same with a downside target of 650. It was stronger in the last rally and made the 382 @ 1720.
Enjoy the week. 👍👍
GBPNZD - AI & MAJOR LEVEL COMING UPToday Im taking a look at the AI for the next 2 days and how its timing in with major pattern completion levels between 1.8947 - 1.8962.
Patterns completing are a
Gartley from the 15th low.
An ABCD from the 18th high @ 1.8962
A 3 drive completing at 1.8947
Add in the AI @ 2:30 tomorrow morning and this gives us a great set up to buy.
If its at a high coming into the key time then its likely to be an invert and heading lower.
Things lining up nicely. Lets see how it plays out. Enjoy the day. 👍👍👍
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.
BITCOIN - Possible Top Saturday??COINBASE:BTCUSD is still edging higher with now real confiction. Im thinking we are coming to the end of this rally.
If we take a look at the AI for this week then we could see this have one more rally into Sat evening or has the high already been made just shy of 25k?
There are a lot of unfinished patterns just above 26k with multiple ABCDs and the 61.8% level from the May 31 high @ 26700.
Some things to watch over the coming days. Enjoy the day. 👍👍
BITCOIN - Key Times to watch today!!COINBASE:BTCUSD
Here I take an Intra-day look at possible turn points.
The early part of today is working nicely, now Im looking for an ABCD pattern up into the 50-61.8% area around 23800 @ either 16:30 or 19:30.
A rally into these times would give us an opportunity to look for a short term sell.
The Invert option would see the market sell off from here down towards 22300 then it would become a buy signal.
Lets keep an eye on this one and see what happens. I will post updates as we get closer to the times. 👍👍
ETH - Change in Trend Window.COINBASE:ETHUSD Is in a CIT Window which could see it reverse into this evening.
There is also a smaller pattern completing between 1680 - 1700.
Lets see if we can get a reaction here.
This is the set up we look for, A rally into the expected CIT window with a pattern.
I hope this helps. Enjoy the day. 👍👍
GOLD - XAUUSD - Change in Trend Window.OANDA:XAUUSD has just hit the CIT Window @ 12:30. Now we look to run it down to 17:00 or further depending on how the patterns play out.
A nice retracement from the 50% level with the ABCD level 1736. We have rallied 1 harmonic from the 1753 low.
I hope this helps. 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.👍👍
Identifying the weekly range Right now I will be anticipating the high of the week being formed on Monday or Tuesday, with the ES trading lower toward the end of the week. Weekly objective of 3800. The market could show otherwise. Not trying to predict. Just trying to anticipate what the market will do at this point, given the range it has been trading in the past couple weeks.
AAPL - 382 Gartley Coming in Monday!!NASDAQ:AAPL has had a 3 week rally into the 382 from the March high.
This rally has been weak with lower volume again on this last 6 day rally.
This is where time and price line up perfect.
If it gets above 152 then there could be a bigger move to the upside coming.
Being the biggest stock in the US Stock market then it has a bit of pull where things will go to next.
Interesting Monday ahead. Enjoy the week. 👍👍
ETH - Change in Trend windows for today.COINBASE:ETHUSD has a couple of nice expected turn points today. The majoe CIT window is around 1pm. So looking for a high or a low at this time to get a trade set up.
For this to work we need a rally/sell off into the time zone. This gives us a 20-30min opportunity for a change in trend.
I hope this helps. Enjoy the day. 👍👍
GOLD - One more rally??OANDA:XAUUSD had a massive rally Friday and is looking to be heading to 1911-1918 to complete the Gartley that could send us lower to the 1700 level which would be the ABCD Target.
Today we are looking for a Pull Back to possibly get long up into that area.
There was a nice Butterfly pattern this morning @ the open.
Patience is required for now.
I will post updates as I see them and post the AI for today as well.
Enjoy the day.👍👍