Megaphone Bottom | 9% move possibleiShares China Large-Cap ETF forms bullish "Megaphone Bottom" chart pattern
"Megaphone Bottom" chart pattern formed on iShares China Large-Cap ETF (FXI:NYSE). This bullish signal indicates that the stock price may rise from the close of $29.91 to the range of $32.10 - $32.60. The pattern formed over 26 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.
Tells Me: The recent broadening action tells us that trading has been out of control, but a breakout on the upside suggests we're starting a more decisive uptrend.
With its broadening price swings, the Megaphone represents a market that's unstable and out of control. It typically consists of two successively higher highs between three lower lows, and the reversal signal occurs when the price breaks up above the second peak (the highest high) as a sign of a more decisive bullish move.
Etfs
Head and Shoulders Bottom | 12% move possibleiShares Silver Trust forms bullish "Head and Shoulders Bottom" chart pattern
"Head and Shoulders Bottom" chart pattern formed on iShares Silver Trust (SLV:NYSE). This bullish signal indicates that the stock price may rise from the close of $21.94 to the range of $24.10 - $24.60. The pattern formed over 35 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.
Tells Me: The price seems to have reached the end of a period of "accumulation" at the bottom of a major downtrend; the break up through resistance signals a reversal to a new uptrend.
The Head and Shoulders Bottom is created by three successive declines in the price following a significant downtrend. The lowest low (head) is in the middle, flanked by two higher lows (shoulders) at roughly the same level. Volume is highest as the price makes the first two declines, then diminishes through the right shoulder. Finally volume surges as the price closes above the neckline (drawn between the two highs) to confirm the reversal.
Gold Miners ETF (GDX) Develops Elliott Wave Bullish SequenceGold Miners ETF (GDX) is close to breaking above the previous peak on 1.25.2023 high (33.34). A break above will open up a bullish sequence from 9.26.2022 low favoring further upside. Near term, cycle from 3.10.2023 low is in progress as a 5 waves impulse Elliott Wave structure. Up from 3.10.2023 low, wave 1 ended at 29.95 and pullback in wave 2 ended at 28.50.
Wave 3 is currently ongoing with internal subdivision as another 5 waves in lesser degree. Up from wave 2, wave ((i)) ended at 31.99 and pullback in wave ((ii)) ended at 29.63. We can see wave ((i)) and ((ii)) in the 45 minutes chart below. The ETF then extends higher in wave ((iii)). Up from wave ((ii)), wave (i) ended at 31.80 and wave (ii) ended at 30.74. Wave (iii) ended at 32.80 and pullback in wave (iv) ended at 31.95. Final leg wave (v) of ((iii)) is expected to end soon, then it should pullback in wave ((iv)) before turning higher again in wave ((v)) to complete wave 3. Near term, as far as pivot at 29.63 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.
Symmetrical Continuation Triangle (Bullish) | 18% move possibleiShares MSCI Europe Financials ETF forms bullish "Symmetrical Continuation Triangle" chart pattern
"Symmetrical Continuation Triangle (Bullish)" chart pattern formed on iShares MSCI Europe Financials ETF (EUFN:NASDAQ). This bullish signal indicates that the stock price may rise from the close of $18.44 to the range of $20.90 - $21.50. The pattern formed over 17 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.
Tells Me: The price has broken upward out of a consolidation period, suggesting a continuation of the prior uptrend.
A Symmetrical Continuation Triangle (Bullish) shows two converging trendlines as prices reach lower highs and higher lows. Volume diminishes as the price swings back and forth between an increasingly narrow range reflecting uncertainty in the market direction. Then well before the triangle reaches its apex, the price breaks out above the upper trendline with a noticeable increase in volume, confirming the pattern as a continuation of the prior uptrend.
Continuation Wedge (Bullish) | 40% move possibleUnited States Natural Gas Fund LP forms bullish "Continuation Wedge" chart pattern
"Continuation Wedge (Bullish)" chart pattern formed on United States Natural Gas Fund LP (UNG:NYSE). This bullish signal indicates that the stock price may rise from the close of $6.90 to the range of $9.20 - $9.70. The pattern formed over 18 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.
Tells Me: After a temporary interruption, the prior uptrend is set to continue.
A Continuation Wedge (Bullish) represents a temporary interruption to an uptrend, taking the shape of two converging trendlines both slanted downward against the trend. During this time the bears attempt to win over the bulls, but in the end the bulls triumph as the break above the upper trendline signals a continuation of the prior uptrend.
Diamond Bottom | 27% move possibleDirexion Daily CSI China Internet Index Bull 2X Shares forms bullish "Diamond Bottom" chart pattern
"Diamond Bottom" chart pattern formed on Direxion Daily CSI China Internet Index Bull 2X Shares (CWEB:NYSE). This bullish signal indicates that the stock price may rise from the close of $50.19 to the range of $61.00 - $64.00. The pattern formed over 25 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.
Tells Me: The price seems to have reached a bottom, showing signs of reversal as it has broken upward after a period of uncertainty or consolidation.
The Diamond Bottom pattern begins during a downtrend as prices create higher highs and lower lows in a broadening pattern. Then the trading range gradually narrows after the highs peak and the lows start trending upward. When the price breaks upward out of the diamonds boundary lines, it marks a significant reversal to a new uptrend.
Continuation Wedge (Bullish) | 30% move possibleInvesco Dynamic Oil & Gas Services ETF forms bullish "Continuation Wedge" chart pattern
"Continuation Wedge (Bullish)" chart pattern formed on Invesco Dynamic Oil & Gas Services ETF (PXJ:NYSE). This bullish signal indicates that the stock price may rise from the close of $4.85 to the range of $6.00 - $6.30. The pattern formed over 16 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.
Tells Me: After a temporary interruption, the prior uptrend is set to continue.
A Continuation Wedge (Bullish) represents a temporary interruption to an uptrend, taking the shape of two converging trendlines both slanted downward against the trend. During this time the bears attempt to win over the bulls, but in the end the bulls triumph as the break above the upper trendline signals a continuation of the prior uptrend.
Nikkei ETF's looking promising 2023+The Nikkei, also known as the Nikkei Stock Average , is a stock market index for the Tokyo Stock Exchange in Japan. It is often used as a benchmark for the performance of the Japanese stock market.
Traders use the Nikkei to track the overall direction of the Japanese stock market and to gain insights into the performance of specific sectors and companies. They may also use technical analysis and other tools to analyze the movements of the Nikkei and make trading decisions based on its trends and patterns.
In addition, the Nikkei is sometimes used as an underlying asset for financial instruments such as futures contracts, options, and exchange-traded funds (ETFs), which allow traders to speculate on or hedge against changes in the index.
Continuation Wedge (Bullish) | 20% move possibleTeucrium Wheat Fund forms bullish "Continuation Wedge" chart pattern
"Continuation Wedge (Bullish)" chart pattern formed on Teucrium Wheat Fund (WEAT:NYSE). This bullish signal indicates that the stock price may rise from the close of $7.03 to the range of $8.30 - $8.60. The pattern formed over 28 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.
Tells Me: After a temporary interruption, the prior uptrend is set to continue.
A Continuation Wedge (Bullish) represents a temporary interruption to an uptrend, taking the shape of two converging trendlines both slanted downward against the trend. During this time the bears attempt to win over the bulls, but in the end the bulls triumph as the break above the upper trendline signals a continuation of the prior uptrend.
Pennant (Bullish) | 27% move possibleDirexion Daily 20+ Year Treasury Bull 3X Shares (based on the NYSE 20 Year Plus Treasury forms bullish "Pennant" chart pattern
"Pennant (Bullish)" chart pattern formed on Direxion Daily 20+ Year Treasury Bull 3X Shares (based on the NYSE 20 Year Plus Treasury (TMF:NYSE). This bullish signal indicates that the stock price may rise from the close of $9.02 to the range of $11.00 - $11.50. The pattern formed over 9 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.
Tells Me: The price seems to be resuming a sharp rally after taking a brief pause.
A bullish Pennant pattern occurs during a dynamic market rally, representing a brief period of indecision before running off again in the same direction. The pattern consists of two converging trend lines with diminishing volume, and is confirmed when the price breaks through the upper boundary to resume the advance.
Continuation Wedge (Bullish) | 44% move possible"Continuation Wedge (Bullish)" chart pattern formed on Direxion Daily FTSE China Bull 3x Shares (YINN:NYSE). This bullish signal indicates that the stock price may rise from the close of $45.07 to the range of $59.00 - $62.00. The pattern formed over 28 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.
Tells Me: After a temporary interruption, the prior uptrend is set to continue.
A Continuation Wedge (Bullish) represents a temporary interruption to an uptrend, taking the shape of two converging trendlines both slanted downward against the trend. During this time the bears attempt to win over the bulls, but in the end the bulls triumph as the break above the upper trendline signals a continuation of the prior uptrend.
Pennant (Bullish) | 10% move possible"Pennant (Bullish)" chart pattern formed on iShares 20 Year Treasury (TLT:NASDAQ). This bullish signal indicates that the stock price may rise from the close of $106.40 to the range of $115.00 - $117.00. The pattern formed over 8 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.
Tells Me: The price seems to be resuming a sharp rally after taking a brief pause.
A bullish Pennant pattern occurs during a dynamic market rally, representing a brief period of indecision before running off again in the same direction. The pattern consists of two converging trend lines with diminishing volume, and is confirmed when the price breaks through the upper boundary to resume the advance.
Megaphone Bottom | 20% move possibleDirexion Daily Semiconductor Bull 3X Shares forms bullish "Megaphone Bottom" chart pattern
"Megaphone Bottom" chart pattern formed on Direxion Daily Semiconductor Bull 3X Shares (SOXL:NYSE). This bullish signal indicates that the stock price may rise from the close of $16.61 to the range of $19.60 - $20.30. The pattern formed over 16 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.
Tells Me: The recent broadening action tells us that trading has been out of control, but a breakout on the upside suggests we're starting a more decisive uptrend.
With its broadening price swings, the Megaphone represents a market that's unstable and out of control. It typically consists of two successively higher highs between three lower lows, and the reversal signal occurs when the price breaks up above the second peak (the highest high) as a sign of a more decisive bullish move.
Head and Shoulders Bottom | 14% move possibleDirexion Daily S&P 500 Bear 3x Shares forms bullish "Head and Shoulders Bottom" chart pattern
"Head and Shoulders Bottom" chart pattern formed on Direxion Daily S&P 500 Bear 3x Shares (SPXS:NYSE). This bullish signal indicates that the stock price may rise from the close of $18.31 to the range of $20.50 - $21.00. The pattern formed over 20 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.
Tells Me: The price seems to have reached the end of a period of "accumulation" at the bottom of a major downtrend; the break up through resistance signals a reversal to a new uptrend.
The Head and Shoulders Bottom is created by three successive declines in the price following a significant downtrend. The lowest low (head) is in the middle, flanked by two higher lows (shoulders) at roughly the same level. Volume is highest as the price makes the first two declines, then diminishes through the right shoulder. Finally volume surges as the price closes above the neckline (drawn between the two highs) to confirm the reversal.
Continuation Diamond (Bullish) | 19% move possibleVanguard High Dividend Yield ETF forms bullish "Continuation Diamond" chart pattern
"Continuation Diamond (Bullish)" chart pattern formed on Vanguard High Dividend Yield ETF (VYM:NYSE). This bullish signal indicates that the stock price may rise from the close of $110.96 to the range of $130.00 - $134.00. The pattern formed over 452 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.
Tells Me: The price has broken upward out of a consolidation period, suggesting a continuation of the prior uptrend.
The pattern begins during a downtrend as prices create higher highs and lower lows in a broadening pattern. Then the trading range gradually narrows after the highs peak and the lows start trending upward. When the price breaks upward out of the diamonds boundary lines, it marks the resumption of the prior uptrend.
Double Bottom | 35% move possibleDirexion Daily Small Cap Bull 3x Shares forms bullish "Double Bottom" chart pattern
"Double Bottom" chart pattern formed on Direxion Daily Small Cap Bull 3x Shares (TNA:NYSE). This bullish signal indicates that the stock price may rise from the close of $43.19 to the range of $54.00 - $57.00. The pattern formed over 102 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.
Tells Me: The price seems to have reached a bottom after failing to break through a support level and ultimately rising higher in a sign of reversal to a new uptrend.
The Double Bottom pattern forms during a downtrend as the price reaches two distinct lows at roughly the same price level. Volume reflects a weakening of the downward pressure, tending to diminish as the pattern forms, with some pickup at each low, less on the second low. Finally the price breaks upward above the highest high to confirm the bullish signal.
Bottom Triangle | 40% move possibleDirexion Daily 20+ Year Treasury Bull 3X Shares (based on the NYSE 20 Year Plus Treasury forms bullish "Bottom Triangle" chart pattern
"Bottom Triangle" chart pattern formed on Direxion Daily 20+ Year Treasury Bull 3X Shares (based on the NYSE 20 Year Plus Treasury (TMF:NYSE). This bullish signal indicates that the stock price may rise from the close of $9.64 to the range of $13.00 - $13.80. The pattern formed over 60 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.
Tells Me: The price seems to have reached a bottom, showing signs of reversal as it has broken upward after a period of uncertainty or consolidation.
A Bottom Triangle shows two converging trendlines as prices reach lower highs and higher lows. Volume diminishes as the price swings back and forth between an increasingly narrow range reflecting uncertainty in the market direction. Then well before the triangle reaches its apex, the price breaks above the upper trendline with a noticeable increase in volume, confirming this bullish pattern as a reversal of the prior downtrend.
Strong support trend line + Bullish "Flag" | 20% move possible1. "Flag (Bullish)" chart pattern formed on Invesco Solar ETF (TAN:NYSE). This bullish signal indicates that the stock price may rise from the close of $75.80 to the range of $92.00 - $94.00. The pattern formed over 9 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.
Tells Me: The price seems to be resuming a sharp rally after taking a brief pause.
A bullish Flag pattern occurs during a dynamic market rally, representing a brief pause as the market "catches its breath" before running off again in the same direction. The pattern consists of two parallel trend lines, often sloping downward against the prevailing uptrend, and is confirmed when the price breaks through the upper boundary to resume the rise.
2. The price came to strong support line and has been closed above that line.
Target 1: $84
Target 2: $92
Continuation Wedge (Bullish) | 48% move possibleDirexion Daily Real Estate Bear 3X Shares forms bullish "Continuation Wedge" chart pattern
"Continuation Wedge (Bullish)" chart pattern formed on Direxion Daily Real Estate Bear 3X Shares (DRV:NYSE). This bullish signal indicates that the stock price may rise from the close of $40.35 to the range of $57.00 - $61.00. The pattern formed over 24 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.
Tells Me: After a temporary interruption, the prior uptrend is set to continue.
A Continuation Wedge (Bullish) represents a temporary interruption to an uptrend, taking the shape of two converging trendlines both slanted downward against the trend. During this time the bears attempt to win over the bulls, but in the end the bulls triumph as the break above the upper trendline signals a continuation of the prior uptrend.
Price Target 1: $48
Price Target 2: $56
Price Target 3: $68
Price Target 4: $84
Flag (Bullish) | 18% move possibleiShares US Oil Equipment & Services ETF forms bullish "Flag" chart pattern
"Flag (Bullish)" chart pattern formed on iShares US Oil Equipment & Services ETF (IEZ:NYSE). This bullish signal indicates that the stock price may rise from the close of $22.83 to the range of $26.00 - $26.70. The pattern formed over 15 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.
Tells Me: The price seems to be resuming a sharp rally after taking a brief pause.
A bullish Flag pattern occurs during a dynamic market rally, representing a brief pause as the market "catches its breath" before running off again in the same direction. The pattern consists of two parallel trend lines, often sloping downward against the prevailing uptrend, and is confirmed when the price breaks through the upper boundary to resume the rise.
Price Target 1: $27
Direxion Daily FTSE CHINA Bear 3x - bullish "Head and Shoulders"Direxion Daily FTSE CHINA Bear 3x Shares forms bullish "Head and Shoulders Bottom" chart pattern
"Head and Shoulders Bottom" chart pattern formed on Direxion Daily FTSE CHINA Bear 3x Shares (YANG:NYSE). This bullish signal indicates that the stock price may rise from the close of $9.29 to the range of $11.20 - $11.70. The pattern formed over 28 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.
Tells Me: The price seems to have reached the end of a period of "accumulation" at the bottom of a major downtrend; the break up through resistance signals a reversal to a new uptrend.
The Head and Shoulders Bottom is created by three successive declines in the price following a significant downtrend. The lowest low (head) is in the middle, flanked by two higher lows (shoulders) at roughly the same level. Volume is highest as the price makes the first two declines, then diminishes through the right shoulder. Finally volume surges as the price closes above the neckline (drawn between the two highs) to confirm the reversal.
Price Target 1: $11.20 - $11.70
Price Target 2: $16
Price Target 3: $20
Price Target 4: $30
"Continuation Wedge (Bullish)" chart pattern formed on Direxion1. "Continuation Wedge (Bullish)" chart pattern formed on Direxion Daily Small Cap Bear 3x Shares . This bullish signal indicates that the stock price may rise from the close of $25.48 to the range of $37.00 - $38.75.
Tells Me: After a temporary interruption, the prior uptrend is set to continue.
A Continuation Wedge (Bullish) represents a temporary interruption to an uptrend, taking the shape of two converging trendlines both slanted downward against the trend. During this time the bears attempt to win over the bulls, but in the end the bulls triumph as the break above the upper trendline signals a continuation of the prior uptrend.
2. Price already came to strong support level, so it's perfect time to buy!
3. Trendline was broken.
Target: $37,5; $50.
Learning to stay ahead of market trends - 2023 & BeyondFollow my research. Learn why I expect 2023 to be a very difficult year for active traders and how you can avoid all the risks by modifying your capital allocation levels RIGHT NOW.
You don't have to stand in front of a freight train or try to force trades when they are not opportunistic. You could just wait for the better setup in July/Aug 2023 and ride out Wave-3.
Do you want to gain profits or just try to gamble your capital away?
Sure, if you are a day trader, you may be able to trade some of the bigger price swings over the next 5+ months. But, most of the price action is going to be in ETFs and select US stock sectors.
Learn to position your trades to capitalize when opportunities are the RICHEST for success. Wave-1 has nearly ended. You are trying to catch the last 5% to 7%+ of an uptrend before the US markets will slide into a Wave-2 correction.
Are you sure you want to risk a boatload of capital at the end of Wave-1 right now?
Knowing when to trade is important. Knowing when NOT to trade is even more important.
Make sure you are getting reliable information, content, and research.
Trading is not about trying to be the next zero-Billionaire in 25 days - it is about surviving and growing your accounts over the next 5 to 10+ year efficiently.
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