Volcon is potentially forming a Double Bottom with Bullish Divergence and is doing so at the potential HOP Level of a Bullish Gartley on the Hourly with Bullish RSI BAMM Confirmation. If this Gartley plays out we would expect a move towards $3.00 this move towards $3.00 could then lead to a Double Bottom breakout which would take the price up to around $7.00
XAUJPY after sharply rising from the long term Lead-In trend line and Horizontal Support Level, is now currently testing the supply line of a local Right-Angled and Ascending Broadening Formation it has developed at the highs and seems to have completed an RSI BAMM and is now looking to do an impulsive move down. If the impulsive move down is great enough, we will...
Google, after its initial bearish reaction to the PCZ, has returned to the PCZ as the RSI managed to make a 3rd lower high and is set up to give us an impulsive move downwards in the coming days. We also confirmed a textbook Dark Cloud Cover today after the rejection of the ascending trend line. I think we will see extreme downside from Google pretty soon that...
The previous .786 entry got stopped out at much lower prices with a tight stop and now we are showing potential for reversal again at the 1.272 Fibonacci Extension and PCZ of Potential Bearish Butterfly as the RSI goes well above the last overbought reading. Given the scenario, I'd say it's worth trying again with a stop above the next Fibonacci extension.
As I'm currently back testing this concept, I've decided let this concept go out for spin. The 1.618 level was triggered right on the opening of Asian session before heading bearish as the RSI indicated this pair is overbought. This is potentially one of the ideal scenarios you'll want on the RSI readings. Again it's imperative not to treat this as a holy grail...
From the failed Bullish Butterfly pattern, I've realised an undercover bullish ab = cd hiding within the pattern. Looking at the the higher time frame, I see the pair is sticking with the predominate uptrend with some minor corrections along the way. I've started to back test a new strategy that has taken the harmonic approach to a world of unprecedented accuracy...
From the looks of it AXS would like to see one more bounce before it resumes it's Bearish Trend. I suspect close to a 50% Retrace of the Prior Highs before an Ultimate Reversal back to the downside. For now the trade is Bullish and Profit Taking Targets range from 80 dollars to just over 100 dollars.
We have a double bottom here at the pcz after reaching oversold multiple times this my be the indication of a temporary bottom.
2 days back, I outlined my strategy for trading Aussie, I was expecting a bounce if price breaks the down-sloping trendline. it finally broke above the trendline last week and AUDUSD is now completing the C-D leg of the shark pattern. PRZ1 is around 0.7030-0.7035. PRZ2 is around 0.7060 Shark has multiple PRZs, the critical part is about when to execute the...
In my HTVol2 book, I outlined what HARMONIC DIVERGENCE and CONFIRMATION are all about. Bitcoin completed a 113 Harmonic RSI BAMM Divergence and has put in a top for now. I expect a serious retest of lows under 2350 and more BEFORE any uptrend can resume. All markets have their limits! RESPECT HARMONIC DIVERGENCE in cases like these.
This is also known as a RSI BAMM harmonic breakout trade, where price breaking the B point of a Bat pattern will magnetically move the price towards point D at XA 88.6. This strategy is documented in Harmonic Trading Volume 2 written by Scott Carney. Note that for this kind of trade setups , the R:R is not fantastic, usually just 1:1 or slightly below it...
In my VOL3, I outline a critical AB=CD situation with COMPLEX RSI formations. Look for a minimum AB=CD thrust @ 0.8415 PRZ while looking for RSI to rollover. These situations seek to capture a retest of the initial RSI test @ 0.83. Trend still down until retest completes.
Hey guys, happy weekends. Just browsing around for high probability setups today. I saw something interesting in EURUSD and I would like to share this setup with you guys. Pattern Identification This is a RSI BAMM setup with a POTENTIAL buy around last week's low at 1.0567. How to execute this trade? I will wait for 1.0567 and the RSI OS level to be...
B point barely satisfies the needs of the bat, so tc
Wait for price to hit Point D of the Bullish Alternate Bat and For RSI BAMM to be Confirmed with divergence and go long on this. RSI have to go lower than the 30 level marked with a green line but not lower than the previous low marked with a red circle on the chart.
Hi guys, this is a counter trend trade on CADCHF. I just went short on this. Price is at h4 resistance zone. RSI bamm setup complete on H1 timeframe, target key support area for profit taking. EP:0.7576 SL: 0.7630(54) TP: 0.7370 (208) Good luck to those who are following me on this trade.
Hey traders, my last post on RSI had alot of subscribers asking me questions. This post will be about the RSI bamm again. Take a look at the H4 chart of USDCHF. Configure your RSI, 14 days, 30 oversold , 70 overbought. You can see that there is a M structure that completed at the overbought area of the RSI. This usually means that the trend has not ended and...