Medium-Long Term. Notes on chart. Please hit that like buttom! Thanks
Notes on chart. Thanks!
★ Projected ABC correction coming for Wave 4 (MACD, RSI weakness supports) ☆ Potentially a prime spot to long @ Wave 4 completion for a follow through to Wave 5 $175+ ★ This would also form a bullish inverse head and shoulders pattern
Looking for one more pullback, then the ramp everyone has been waiting for.
Potential Diamond Top Invalidated with a close above 284 Great risk/reward area here Diamond tops are infrequent but are like the Head and Shoulders pattern little brother The peaks are higher on the left & the troughs are lower on the right. You can see that in the RSI negative divergence too Then the trendlines form together in a shape of a diamond💎
After a breakaway gap, $SPY accelerated +45 points before pulling back -20. If this trend continues, we have a measured move to 288 before its pullback to 268-ish. Give or take a few points but a market pullback seems imminent based on these measures.
$30 target if breaking trendline and below $50
- As markets ranges increase, you must look at a larger timeframe for a clearer picture - For the past 10+ years, this green zone has been the ultimate buy zone - The 200EMA has also been an area of interest for accumulation (not a support level but area of interest)
Potential Scenario. This past week was such an aggressive and decisive move, which created a lot of damage technically in the medium term. What I'm looking at/for ▼▼▼ 🔹Short term bounce to the 50% + backtest 🔸Revisits $253 level, which is Feb 18' lows and 168% fib
- Short Term Double Top - MA's About To Cross (Negative) - Broke Trendline Levels Labeled
🔹Broke out of a 1.5 year base from a bullish pennant 🔸Bounce off weekly 20MA 🔹Holding above all time highs 🔸264-ish target
- Three White Soldiers on VOLUME after earnings gap - Breaking out of falling wedge - Essentially same pattern after 08/07 earnings
$AMZN forming a huge cup with handle pattern on the weekly and just broke out of its base. Price targett $2300
Uber strong earnings gap friday. Breaking out of long term base and channel on volume