Bullish 5-0 Level @ 2745 and .618 retracement of the latest wave. Don't try to catch the falling knife until it hits that number. Until then, neither panic nor go long preemptively.
The last bullish signal I gave on CMG was an intraday chart Gartley @ 301.73 that gave us a couple of nice bounces that were confirmed by RSI all the way to the overbought extreme. The third test of the Gartley's PRZ was not expected to have a high probability of holding but nevertheless gave an impressive response. Now that price has come through that level in a...
QVCA formed a type 1 reversal off of the Gartley in the last idea and then gapped through the PRZ shortly after touching the .382 type 1 profit target. Current expectation is for price to reach 21.99 to the downside, which would be the .886 of the bat pattern encompassing the larger swing.
XLF has reached its minimum target of 26.81. So far HSI and Amp RSI show no signs of an impending reversal. Thus this would be a time to consider taking some profits off the table but not to take a short. Amp RSI in particular shows extreme overbought behavior which suggests price needs time before a reversal can happen. Check my twitter account for more details:...
Watching Amplified RSI and Harmonic Strength Index on the neoHarmonics platform for confirmation.
Gartley completion @ 92.49 - watch RSI or HSI on 5m chart. detailed charts: bit.ly
XLF has obviously been on a nice run, but is well on its way to a 1.618 projection at 26.69 as conservative target.
Watch for price to tap 142.25 again for a 15m chart trade on CELG.
A bullish Gartley has formed on CMG 60m- watch for further continuation to the upside before another selling opportunity. Given the scope of the downtrend over the last few weeks, I don't expect this to be a deal changer but it may be the first step to CMG flattening out and turning around.
RSI exiting overbought with a complex structure. Watch for the upside closely - with an extended period of bullishness at this point and a complex structure on the upside of RSI price is likely to bounce back up quickly once it breaks the corrective trend. That's thinking a couple steps ahead though. Let's see if price makes it's way to the .382 target off of the...
Looking for RSI to get below 30 and cross back out of the zone as an entry cue for this NFLX 60m ABCD (previous idea).
NFLX trading sideways off of a 1.618 harmonic impulse with bullish RSI - setting my alerts for a drop-through that tags the conclusion of a potential ABCD.
Just triggered off of a bear crab type 2 reaction @ 1.2239 in the analysis room based on the 5-minute RSI and HSI triggers.
Looking at a major NZDUSD bat completing on the daily timeframe in the trade room. Will be looking to enter on the 60m.
Awaiting confirmation on the 5m chart for this bullish shark in the harmonic trading room.
A small bat pattern is nesting inside a type t2 reversal off of a Gartley . Meanwhile, RSI has exhibits a complex structure in the overbought zone supporting the likelihood of price retesting the highs at a minimum. The 15m chart will tell if we get another entry opportunity. Given the range of the last few bars I think another chance at an entry isn't out of the...