TheSpringHunter

TheSpringHunter

The daily charts offer a Spring setup opportunity while the weekly chart supports that idea with a good-looking Hammer. What is interesting is the Outside Day bar, which comes on a good volume. There is a previous resistance that turns support. The setup is a bit tighter than I'd prefer and makes the risk-to-reward, not the best, but the markets are rarely...

TheSpringHunter

USDCAD Daily for a long time was running inside a channel that broke up and made a 1 to 1 move where it faced overhead Resistance and returned to test the channel. Now we have a second touch of a previous resistance level (look at the horizontal one although the trend line from the channel acts as a second confluence point) and a nice pin bar that comes with...

TheSpringHunter

A few confluences: - Horizontal support - Trend lines - Hammer on rising volume - Overall the stock outperforms the Index in IBD Style terms - 61% Fib retracement - Reverse or Hidden Divergence If that works - you have a low-risk high-reward setup. If it doesn't - we'd understand that quickly and move on.

TheSpringHunter

Despite the cluttered chart I think we have a Fib confluence area build around two common harmonic patterns - Gartley 222 (Redish area) and the Cypher (Blue area). Whether you sold the 88% retracement ()In the CYpher scenario or the 78% retracement ()the Gartley scenarioI think we have a good scenario for a short trade. Protecting stop at 1 to 1 then and aiming...

TheSpringHunter

We have an opportunity in the form of a Gartley 222. At the moment all Indeces are under sessling pressure so overal market condition supports.

TheSpringHunter Updated 

Nice looking Gartley 222 respecting well the textbook Fib levels. Not exactly with the trend hence the longer target better be the closest top and not further as the chance of getting a 161% extension is not that great. At 1 to 1 or at the 61% Fib retracement put stop to entry. Bulkowski has an interesting article about bullish Gartleys quoting that the hit rate...

TheSpringHunter

In the longer term timeframe, there is a defined channel that the price respects. The price respects it like a clockwork lately so I've been watching for a reason to go short and long. After the impulsive sell-off from the top of the channel now the price corrects. I hope it will form an ABCD correction and we'll see what the technicians call Gartley 222. Plan to...

TheSpringHunter

We see a technical setup called "Surprise attack": 2 very positive bull bars and then a bear bar breakind the low therefore suprising the Bulls. Stop to be trailed above the newly formed daily bars. Another option is to take some at the 21 EMA which is the Blue limne in the chart.

TheSpringHunter

TIght ABCD which I call a Spring happens from a previous support level. Also, the level of the reaction we observe is a small gap which is an area of interest where price tends to go. Weekly is above 20 EMA, Daily as well. Stochastics is in the overbought zone as well. Now a positive entry bar is needed to confirm the entry.

TheSpringHunter

The first ABCD on the Pic starts the move from the 61% FIb retracement. Just noticing that Then after the EMAs cross up, take all ABCDs. Notice how important it is to have the confluence of a previous support. For sure easy to see after the fact, but such pictures should be part of your collection and prep work so you believe it works. One of the best...

TheSpringHunter Updated 

Weekly Bias is UP, Daily is UP as well. We have an AB=CD which happens above the 38% retracement of the bigger swing up. (some people might refer to this as a high-tight flag). 30 min is showing divergence. The entry is a breakout after multiple inside bars pattern also known as a popgun pattern. The risk to reward to the previous all-time high is 1 to 5 if no...

TheSpringHunter Updated 

I like to enter where the majority of the stops reside. In this case, the rectangle is my area of interest. If you look at the weekly chart you will recognize this as a visible swing low. In the core, this is still the Spring Setup I hunt for, but less obvious this time as there is no clean AB=CD that can be drawn. Also can't miss the round number and expect a...

TheSpringHunter Updated 

The pin bar was a reaction from the 78% Fib retracement and also an equal 1 to 1 AB=CD, but now let's see whether there will be a follow-up and price confirmation for long. This level is also a 61% retracement of the bigger swing up so a confluence point. For now, I don't see a definite entry signal unless I want to buy the level which I often do at the higher...

TheSpringHunter Updated 

We might play out this as a Gartley222. Not entering at the 78% retracement level, but we have a great pin bar on the 2Hour chart at a very Key level. Close below the previous major low and a 1 to 1 AB-CD move. Volume profile- the pin bar occurred on raising volume which for me indicates stops taken, but also it's what Wyckoff will call nonvalidation, huge...

TheSpringHunter Updated 

A potential area for a low-risk high-reward trade. The area marked is an AB=CD move that will happen above a prior high which means stops might be taken which will provide ample liquidity for a move down. Additional confluence - this happens at the 61% Fib retracement level, and also the 200EMA of the 4-Hour Chart. Overall the price is at the 20 Daily EMA area so...

TheSpringHunter Updated 

Some idea came to my mind. The long-term trend is up. On the daily, it is obvious we are in a consolidation area. Weekly is bullish, Daily is bullish, but... Open the 4 Hour chart or the 2 Hour one and it won't be hard to spot all measured moves or AB=CDs. Each one of them was a great opportunity for a small stop-big reward trade. See the blue line that is...

TheSpringHunter

Solana had a bullish flag breakout in the longer timeframes (check my other related Daily analysis). Currently, a potential technical setup might play out for a shorter-term trade or addon to the first one. We have an AB=CD measured move. Volume profile - notice how the first bullish bar that reacted from the support level occurred on higher volume compared to...

TheSpringHunter Updated 

Notice the area of Resistance. Also, the price already moved a few times in equal measured moves. Also, price is at the 200 EMA of the 4-hour chart. That might be an area for an excellent risk-to-reward trade, although at the moment looks like the price is making higher highs and higher lows. We might wait for the price to do a fake-out move down on maybe the...