Nicklaus68

Nicklaus68

2022 weekly looks a lot like 2000 daily. It's starting to take detours, but if you removed the red box and pasted the blue box from where it dropped, it matches up with 2000 pretty well still. I wouldn't use this to trade, but it's interesting how close the structure is.

Nicklaus68

1: Is the local high put and acts as a major support. QQQ 290 Notice all calls are smoked there, so they got squeezed first thing Monday. Sometimes it'll push past the high interest levels by a half measure if there's some opposing interest at or near the same strike. However the call interest is super low at and around 290. So this one stopped just shy, didn't...

Nicklaus68 Updated 

Pattern fails if it breaks out above 4000, and bear trend fails above the POC ~4015. Otherwise look down for 3900 1.6 fib and 3825 2.6 fib. Interesting that it made a mini bear megaphone pattern that failed at pivot 1, but the volatility created and even larger pattern. Megaphones have a habit of doing that because of the wild swings. So if it fails perhaps...

Nicklaus68 Updated 

I know it's so simple you can't believe it! Is it magic? Is the Devil running the Stock Market!?! Nope, what you're seeing is the all-pervasive 50% Principle in action! www.investopedia.com "It states that if an asset drops after a price increase, it will lose between 50% and 67% of recent price gains before rebounding. " So over any given range, the retrace...

Nicklaus68

I know it's so simple you can't believe it! Is it magic? Is the Devil running the Stock Market!?! Nope, what you're seeing is the all-pervasive 50% Principle in action! www.investopedia.com "It states that if an asset drops after a price increase, it will lose between 50% and 67% of recent price gains before rebounding. " So over any given range, the retrace...

Nicklaus68 Updated 

NG is way under it's 33yr POC of $2.57 and near the Value Area Low VAL. I'm stepping into it slowly, as it could dip quite a bit more, maybe as low as $1.50 helped by DXY running up. However, long term it should be safe to enter around $2. First target is the VAH ~ $4.

Nicklaus68 Updated 

Most of the FOMC focus is on the rate announcement and press conference, but I found the minutes actually make better pivots. It's especially clear on the weekly chart. I expect this one to be bear, but will roll with it either way. Which way do you see it?

Nicklaus68 Updated 

It appears we have a 5-3-5 "zig zag" corrective wave down to the QE-era trendlines .( TLs ) The idea is invalid if it breaks out of the pitchfork trigger line. There are only 3 types of corrective waves, 5-3-5, 3-3-5 & 3-3-3-3-3. Since this correction started with a 5 wave down it should follow the 5-3-5 pattern. However, there's also a decent chance the 3 wave...

Nicklaus68 Updated 

testing the sharing of private code testing the sharing of private code testing the sharing of private code testing the sharing of private code testing the sharing of private code testing the sharing of private code

00:15

Nicklaus68

I was poking around and stumbled across this cool easter egg, Tokyo Night Mode! It's pretty bright, gotta play with the colors scheme, but cool!

Nicklaus68 Updated 

Last year around this time they were pumping QQQ Invesco and Crypto.com commercials, even during the Super Bowl. Now we've been hearing about the most advertised recession in history. I don't believe the hype. Capitulation may come next year, but this ain't it bruh. B2B Doji Dragonfly, bull hammer candles on weekly, with bear trend volume falling off a cliff....

Nicklaus68 Updated 

Pitchforks are a very popular TA tool and easy to use. However the fundamentals are often glossed over. For example, many beginners and vets don't know that it is based on Normal Distribution which has 3 Sigma Limits . This is commonly referred to as a "Bell Curve" . It's a natural rule of thumb used in Statistics and Probability Theory, for all manner of...

Nicklaus68

Lines drawn to candlesticks, before I switched to line chart so it was easier to read. The previous 2nd drive was near 127% of the previous. So this could be a 3 drives down setup to break out of the falling wedge. This current scallop move should top out in the 11.2-11.4k range. Then it will fall to about 10k for the bottom.

Nicklaus68 Updated 

There is a disturbing correlation here with the difference between contracts. It seems like capitulation is nearing. Could it possibly bullish for markets when it turns down again? Looks like NQ2!-NQ1! is about to.

Nicklaus68 Updated 

In the last 5 FOMC, the 2pm candle was either red or doji/choppy (yellow) AND the 2:30 candle was GREEN. So sell 2pm, buy 2:30pm is the pattern. In a few instances it retraced the 2:30 move shortly after, tho, so be nimble not greedy. Looking at these partitions you see some interesting fractal patterns, too. Could this be another setup for a check down? If...

Nicklaus68 Updated 

With the FTX & Binance issues, plus crypto regulation likely coming next year, I don't have much faith in this setup. However I can't ignore the doubled up harmonics here, Bull Cypher and Bull Wolfe Wave. I'm prolly not a player until it establishes support above the $21k POC. Then we're looking for $29k>$37k>$60k targets. Above 19k is probably good for a $21k...

Nicklaus68

Where PPI peaked in the past, was where 2000 and 2008 crashes started capitulating. I'll be keeping an eye on this, if it goes too much deeper it should confirm. It indicates recession in industry.

Nicklaus68

Book depth fell off and spread jumped on both Sept 7th and Dec 7th. This correlated with a dead-cat bounce in Sept. You can find the chart here: www.cmegroup.com In Sept, 3 days later was the peak, then more down. See if it confirms Tuesday or Wednesday.