Now seems like a good entry for short. I think 390 is the target they are shooting for before making a move down due to it being a key price area it either rejects from or rallies from. I am leaning more towards bearish due to it price being below the box to start and with a stop loss in mind - just above the the red box for a new low as of recent price action ~...
The idea from yesterday is not working as I thought so I had to reevaluate what I'm seeing this morning. The general bias is still down - under the 18ma on daily and weekly, embedded bearish slow stochastic, put call ratios back to normal levels again, and more.... If we move quickly downward, there is daily BB support near 3740 on ES. That should at least pause...
This B-wave cannot complete fast enough for this trader. From the mid-December spike into 4180 to our recent consolidation, this retracement downwards has not been easy. It's January 6th, and I have yet to do my first ES trade of 2023. I'm hoping that is about to change in the next several sessions. I am looking to short puts within the April expiration date. ...
So a follow up to my previous post because they are not breaking this market down as hard today as I suspected. Very possibly B continues sideways into CPI tomorrow and we rally into the end of today. A false breakdown on CPI (the final e wave) would give then get us the move up, how far is uncertain for it should take a few days at least. C target may even get to...
After spending much of today looking at the pattern I have revised this larger b-wave retracement to be a w,x (a,b,c,d,e Triangle) for y of b. As I have stated previously b-waves and 4th waves are where our most complex Elliott Wave patterns appear. The above count is really the only way to count this consolidation and it works perfectly within the guidelines of...
Tight consolidation patterns are akin to a poker player with no “Tells”, who displays a stoic face, and keeps the playing cards close to his vest. Many times, these patterns can be difficult to interpret and only reveal what they are immediately prior to concluding. When I find myself in a position where the market fits this poker analogy description I get into...
ES/SPY/SPX is currently in a consolidation pattern. The S&P tends to make a big move out of these consolidation patterns once they are given time to play-out. NOTE that these consolidation patterns CAN breakout in any direction AND/OR fake-out in either direction but, observing the weekly price action, Im banking on this pattern being bearish along with the fact...
Today we had no resolution outside of the consolidation area. Giving price the benefit of the doubt till tomorrow to at least tag 3917 for a minimum completion b of B. As you can see from the above micro I'm still counting this is as it will become impulsive tomorrow. Nonetheless, if all we get is a spike into 3917 and a reversal lower, this could get...
2023 is getting off to an unremarkable start. This overlapping pattern that is consolidating near recent lows tells me my analysis of a standard b of B retracement may be in jeopardy . As I have stated in the past, B-waves, much like 4th-waves can be complex. These are areas within both motive and corrective waves where traders are carving out counter trend...
B Wave's New Algo is nearly complete and de-bugged. It kicked this chart out for ES Mini Futures thru mid Feb. I would question any chart that doesn't closely resemble this.
This morning I posted a micro chart of the ES. Suffice to say...the market had other plans. I still do not see where this patterns reconciles immediately lower. Still looking for the same targets for my larger "b" wave. However, below 3793 and I have no choice but to count this entire consolidation as a B-wave flat. I do not like that count because a b-wave...
Happy New Year to all! So with the new year we have a more complex correction structure. The "bear pennant" is now broken to the upside but with no follow through on two attempts. On ES they touched the daily 18ma overnight and retreated. Also we are at a fib line of the pitchfork and a structural trendline which seems to be holding price back (blue line). I still...
Here we go. Starting out 2023, my SPY cycle patterns show a solid RALLY phase sets up on Wednesday/Thursday. Time to get ready for a strong reflation trade to start 2023. Possibly breaking above resistance channels and rallying to NEW ALL-TIME HIGHS. Follow my research.
In my weekend update I wrote, "As you can see our c-wave breached the .618, but only slightly. It is possible the e-wave may do the same. I mention constantly about being attentive for clues that price gives us. This poke above the .618 could be a clue that this will be a standard a-b-c ...or it’s nothing and we decline right out of the gates on the first...
Monthly likely to seek Buy side liquidity first before anything bearish unfolding. The RRR shown defines the monthly buy entry level. I can be early but I do not care because we are just entering the new year. I would like to see LTF Daily start showing bullishness and then use the daily Order Blocks as buying opportunities. That would be the best scenario I am...
Happy New Year’s Eve to all! I wanted to get out my weekend update before tonight’s festivities begin. I wish safety and a great time for all reading this post. Let’s jump in. I'll start with the long-term view. As I am forecasting the first half of 2023 being comprised of prices moving higher. As this pattern matures I'll update it and trades will present...
In this last week of trading in 2022 it appears many traders are finding coal in their stockings as the Santa Rally phenomenon is not materializing. Ideally I would like to see a rally into b of B target box above 3917. However, it is possible this b wave is not structuring itself ideally and may be a triangle as outlined below. If this is the case, then we...
Simple. NY Opening Short NY Closing Long NFA.