After completing a large 5-wave up move, now price appears to be starting large wave 1 down.
And in that large 1st downwave, we are at the start of the 5th wave of that. It's been a fast fractal and you can see the setup.
No point in going long here. Bearish short-term, especially with anticipation of a weak broader market the week of Feb 07.
Don't let the day...
I'd be extremely careful here at these levels.
This is priced to (and probably beyond) perfection.
Weekly chart shows 2nd final Fib target hit last month and price is all but yelling that it wants to retrace back to 130 at a minimum.
Earnings were good enough but needed to be an absolute blowout in order to sustain the momentum.
With supply chain issues still...
Good-looking formation for pennant breakout, inside of larger timeframe wedge breakout as well.
50ma and 200ma also supporting below and pinching together at same time.
Could be large quick upside move in next trading days. Something to keep eye on.
2nd push toward smaller 78.6 level would put target around $16 in front of the higher level 78.6.
Hourly chart.
Please see chart for details.
Anticipating in advance large resonant pressure from Jan 08-Jan27.
There should be a price trend during this time period (prediction downward, but whichever way Jan 08 - Jan 27, I am not fighting that trend).
Jan 08 abruptly changed the last several days' uptick through the Gartley buy and trendline, indicating this...
While cycles studies indicated the drop from the highs within 1 day (March 15), the less aggressive play is to continue shorting until 155.
Key support levels are broken, momentum is fast, negative cycle energy in play through at least April 19.
Quick long opportunity in play here...
ascending triangle, Fibonacci clearance. Chart tells the story. Opportunity for 10+ pt move in a high prob. setup.
Target 278-281.
EMA 13/48 cross took place yesterday. Waiting for small pullback for a better long entry. Price is finally more coiled up after larger chaotic movement.
Price resisted at the confluence of the A) natural 1.27 extension of the Feb 27 to Mar 02 swing, B) Jan 17 to Feb 19 .618 retracement.
Looking for 157-158 entry, profit target 162-164.
Each stock has its own rhythm, cadence and energy. Some hate to follow old swings' Fibonacci extensions, preferring to oscillate to smaller frequencies, while others reference key lows from months and years back. AAPL is the latter.
This is a very basic weekly chart overview. You can see the AB 1.61 level was respected for months in 2016, and now the 2.61 level...
Update to the original harmonic Gartley setup: At this moment there is no material change to the setup. BTC is still acting chaotic but is above the .786 retracement level of the latest swing (which now corresponds to the same price range as the 1.27 level from the longer swing. This needs to hold on a daily candle and 4 hr candle too, ideally, to continue to...
Pretty straightforward. Here it is.
The added support and potential bounce off both the 1.27 extension target AND the 200 SMA would be a strong aggressive long entry point.
(The Fib levels are showing the qualifications met for the Gartley setup...it'd be nice if Tradingview allowed line length, and put the Fib level at the RIGHT (most recent) point instead of the...
The 1st ETH target was reached, as noted in my Mar 6 post.
Price is sitting at multiple Fibonacci support at the moment from separate swings. However, momentum is pretty fast on this downpour, and the .786 level could be reached at 645-650. This would be the extreme low in my view, and I'd expect ETH to swiftly and strongly rebound from there. I don't see it...
I posted this at the lows in another trading chat room, and am posting here as a nice example of harmonic price action.
On this 1hr PPT 0.95%chart, we see price dive today with the broad crypto selloff. I was watching this setup for the break of the 19.50 area... the .786 of the last swing, which is always the most crucial point, in my Fibonacci view. Price moves...
Price will now move to the 1.27 Fib extension after clearing the Feb 22 swing .786 level. Currently price sits at 806 on Coinbase/GDAX. This is a simple combination of Fibonacci analysis (I have extensive experience utilizing this on multiple timeframes) and moving averages/9 counts/chart patterns.
