Sellers are backing off slowly. They could easily ramp up again tomorrow - volume for the first day of the week is consistent with the last two weeks. I'm expecting more red to follow. Considering opening a long position here if the signals are strong and we get a nice bounce. If price action lingers at that double-bottom watch for a quick break below. Everything...
Hello Ninja's! :)
So like previously stated when we were at the lows I was predicting a strong move higher, that happened and the returns were great.
Now this movement higher is likely to continue on monday.
Then we are likely to create a descending channel before a huge move to the downside.
I will keep everyone updated with my trades as and when they...
Elliott Wave View suggests that since forming the low in March 2020, S&P E-Mini Futures (ES) has rallied in an impulse Elliott Wave structure. Rally to 3959.25 ended wave ((3)) and pullback in wave ((4)) is proposed complete at 3721.55 as a double three structure. Down from wave ((3)), wave (W) ended at 3804.75, rally in wave (X) ended at 3934.50, and decline to...
Every bounce is the same size, appears to be a channel
Indicators in the middle, no idea which way things go next week. I'm gonna say whipsaw because then I know I'll be right, lol.
You see that price made through big resistance. Now maybe matter of time until target one. Possible big another
Drop to next target where no major supports. This be continuation of my previous ES trade. I come very close to stop out several times. But now in good profit. Now I let t run.
I'm not currently short -- completely in cash -- just tracking the trend. All technical indicators point downward towards the bottom of the broadening descending wedge . That long wick bounce off the lower trendline is calming for some bulls who are looking for a potential long entry. However, it's also a major inflection point to a previous double bottom we...
So we were right about the crash down to 372/3720. Targets were reached.
Now it is very possible to have a strong move higher AGAIN back into the highs. The timeframe for this could be a day, the weekend and even monday. Hard to say right now. I took a starter position at the lows.
Lets see how we play out tommorow (fri).
I’m still bullish for GC. So far plan is being executed but I be hoping for more true breakout by now.
My options are
= end trade
And no loss, but no potential profit
=Stay in trade
Risk bigger loss
Potential gain
Exit and re enter on test of wedge
Better RR ratio
Risk no entry
At this time I stay in trade and watch. Why? So far acting the way I predict....
NQ just completed a head and shoulders. That can mean anything, but it sure makes things interesting.
RTY has clearly taken the lead in relative strength since the markets bottomed in march.
More money is going to a larger group of stocks in RTY, and it looks like the tech bubble is paying for it.
Tech bubble:
Going to make a bold prediction here, based on the expansion in volatility of moves that will allow this to happen.
The question is, what will the catalyst be? Has to be something bigger than corona in reverberating impact.
