McQuant

McQuant

This is expected scenario for finishing Bearish Butterfly on weekly (see ). Keep looking....

McQuant

It seems that Bullish Butterfly is complete. However not all levels in PRZ has been properly tested. Before going long I'd like to see price testing 1191.58 at least.

McQuant

Price is oscillating within PRZ after bearish shark completion. RSI crossed 70 level from above and is heading down. I guess we can see some price downswing.

McQuant

RSI is in divergence with price, price sits on 88.6% retracement level so it's create nice symmetric triangle. If this week price close above that level we could experience significant upside move.

McQuant

I can see some bullish harmonic cypher being emerged on the chart. Seems like bullish butterfly but because B point is not perfect for pattern being bullish butterfly I call it ‘defective’. With that being said other price levels and pattern points are pretty correct and fits with butterfly recipe. I can also see significant RSI divergence with price. So I guess I...

McQuant

Short on emerging bat pattern

McQuant

If C point won't be breached up, we could see price action going down emerging bullish bat pattern. Possible D is around 1.35544.

McQuant

Short

McQuant

We could see that copper is possibly forming bearish bat. RSI just crossed its 50% level and price itself is now approaching critical level created by pattern's B point at 3.388. If this point will be breached we can see price going up to D point of ideal bearish bat at 3.699. So going long after some pullback, with 3.699 as target would be trade oppty (in couple...

McQuant

This is a longer term view (weekly chart) on SPX500. This bearish butterfly that has just formed seems to be a good opportunity for going short.

McQuant

We can see that price action likely finished ABCD pattern for us (green color). From longer term perspective I'd expect price could go up while forming further potentially bearish pattern and its CD leg. This is idea is also supported by rising RSI and RSI's divergence with price action we could see earlier.

McQuant

If C point will hold in couple of next days there is a good opportunity that we could experience emerging of CD leg of this Bullish/Turkish crab which could take us down to 1.90494.

McQuant

Two bearish patterns holding their hands. RSI is over 70 so for going short it's better to wait if RSI will head down in some reasonable time from now.

McQuant

RSI, double top and crab

McQuant

We can see that bearish crab has been finished. With that being said we can await price testing all level in possible reversal zone, so we could experience price reaching 2.618 level of ABC fibo. expansion. Once all levels in PRZ are tested and we have some secondary confirmation (RSI declining through 70 level from upside, RSI and-or stochastic divergence) we can...

McQuant

Bearish crab has completed.

McQuant

We can see 2 triangles that are potentially unfolding 2 bullish harmonic patterns likely ending in D point around 1.28766. This could happen in case A point won't be breached upside and C point is formed and steady around 1.37658. So in couple of next days we can see some price move upside while finding C point. Then price can experience decline down to D point...

McQuant

Cyan rectangle highlights PRZ of emerging Bearish Crab. If PA reach that zone we could experience price reversal and likely price decline.This is longer term chart so it can take few days till bearish crab is fully emerged, if at all. Until then we could find opportunities to go long.