Hey folks
Been looking for this signal to play and got the first signs of it setting up. Not quite confirmed yet...
A double bottom on 4hr wave trend with oscillator indicator has shown up
Now looking to confirm it with another buy signal: green appearing on OBV with divergences and/or setting up a 4hr Bullish divergence on RSI. To achieve this, we generally need a slow grind price action and what-ho it's the weekend! I expect this to play out before stock close on Monday and ideally looking for a 21900 wick fill that take out stops below it.
We all know these sudden moves down tend to ' Bart Simpson' so many are watching for that so I expect a sweep of the lows to occur and trick traders that a breakdown is occuring before a rebound. Furthermore, shorts liquidations are beginning to stack on Kingfisher predominantly at the 23400+ area
Have taken some profit from short and using that to fuel this long as a hedge/ scalp trade.
The stock market is having a countertrend.
Both the S&P500 and BTC have triangle wave counts going on and both have hit the 'D' wave. The 'E' wave can end either at the 'C' wave high or breach it to the top of triangle pattern (you can find this easily with a simple diagonal trendline) The 'E'' wave (the final wave before true price reversal) for S&P500 can occur upwards of 4175; I am targetting 4224 and 4308 for this. The 'E' wave for BTC can occur upwards of 25003, I am targetting $26200 to 28900 for BTC.
I believe we are in a topping process on the stock market before a double bottom or a massive crash. I have some concerns of a black swan event occuring in the next few weeks also.
The triangle wave does not have to happen, I use wave counts to validate what indicators are doing...
Been looking for this signal to play and got the first signs of it setting up. Not quite confirmed yet...
A double bottom on 4hr wave trend with oscillator indicator has shown up
Now looking to confirm it with another buy signal: green appearing on OBV with divergences and/or setting up a 4hr Bullish divergence on RSI. To achieve this, we generally need a slow grind price action and what-ho it's the weekend! I expect this to play out before stock close on Monday and ideally looking for a 21900 wick fill that take out stops below it.
We all know these sudden moves down tend to ' Bart Simpson' so many are watching for that so I expect a sweep of the lows to occur and trick traders that a breakdown is occuring before a rebound. Furthermore, shorts liquidations are beginning to stack on Kingfisher predominantly at the 23400+ area
Have taken some profit from short and using that to fuel this long as a hedge/ scalp trade.
The stock market is having a countertrend.
Both the S&P500 and BTC have triangle wave counts going on and both have hit the 'D' wave. The 'E' wave can end either at the 'C' wave high or breach it to the top of triangle pattern (you can find this easily with a simple diagonal trendline) The 'E'' wave (the final wave before true price reversal) for S&P500 can occur upwards of 4175; I am targetting 4224 and 4308 for this. The 'E' wave for BTC can occur upwards of 25003, I am targetting $26200 to 28900 for BTC.
I believe we are in a topping process on the stock market before a double bottom or a massive crash. I have some concerns of a black swan event occuring in the next few weeks also.
The triangle wave does not have to happen, I use wave counts to validate what indicators are doing...
Comment:
Due to most recent price action only looking to enter on strong 4hr bullish divergence and to enter hedge long around the 21 weekly ema which is currently at $21400
$21400-$21800 are solid entries if this happens
Losing the 21 wema on weekly close would be incredibly bearish (it has acted as the pivot and confirmed previous bullruns after similar runs like this)
$21400-$21800 are solid entries if this happens
Losing the 21 wema on weekly close would be incredibly bearish (it has acted as the pivot and confirmed previous bullruns after similar runs like this)
Comment:
if $DXY busts 105.8 resistance with some strength then I would urge caution to this playing out. Market is due a short squeeze soon though imo.
Comment:
some weak 4hr bullish divergence. Have cautiously entered hedge long. Plenty of shorts in the 23400 area to take out.
Will go pretty heavy if we go below 21900 with some decent 4hr rsi bullish divergence.