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Cdleg

I SPY a Bullish Butterfly: In CD Downleg before ATHSimilar idea to my Dow US 30 post. Sand P is statistically a stronger model, from larger numbers. NB: This model is imperfect as the XD spread should be 1.27, but we got a real nice 0.62 Fibo AB retrace of the XA leg up. Note the perfect double top Fibo = 1 (was within a few pips, a 99.9% retrace). Real life is like that, we take what the market gives us. The Bearish CD corrective retracement of the XA Bullish leg should be slightly deeper and show true capitulation to create the bargains that fuel next drive to ATH. Moel extension suggest low prices to occur on/about Monday, 28 October. The Dow pattern projects 29 October, the 90th anniversary of the '29 crash, how fitting! If model is an accurate projection, expect final support near 273. There will likely be a counter trend corrective wave up within a few days that will fake out buyers. Capitulation begins when the new players buying at these still pricey levels get disappointed. That's when the real opportunity exists. Wait for it! THe entire movement appears to be a 4th Primary wave; If model is correct, the resulting fifth-in-fifth wave to ATH will carry ETF to 315+; when Sand P trading above 3150! This isn't advice, just an idea based on Harmonic trading pattern model. Market can easily double-fakeout, be cautious! GLTA!
AMEX:SPYShort
by DaddySawbucks
6
DOW JONES BULLISH BUTTERFLY: ENTERING CD DOWNTREND LEGEvolving pattern does not meet Gartly criteria of 0.618 AB leg. Batwing would have a shallow AB , usually 0.5 - 0.618, with 0.50 XB. Therefore it's a Butterfly pattern. Look back at Nov 2018 to see the Bearish Bat, which was imperfect in Fibo. Market tanked anyway, if it wants to sell, it will sell, regardless of the Fibo. Now we find ourselves in the penultimiate move of a great Bull Market. The next to last move is a CD downtrend wave; it will be fierce and sell for a month. The pattern has evolved near perfection with 0.786 XB and a rare 0.905 BC Fib retracement of XA. This is quite Bullish and suggests the rally to follow Butterfly structure completion will be vigorous. A perfect butterfly would evolve with XD = 1.27; this model projects 1.618 Fibo retracement to 24,224 on 29 October. Just a WAG, but I'm betting on it. After completion, the Bull wave to follow will likely reach 2.618 of AD, or 27,716 by EOY. This isn't investment advice, just a model based on observation; models may fail; be prudent; trade at your own risk! GLTA!
DJ:DJIShort
by DaddySawbucks
Monero: Have you formed the C of CD leg????It seems C has finally formed on Monero. If this is correct then we are looking at getting in to take advantage of price moving up to D (78.6%) which will complete the Gartley pattern. I have been long for some time (was painful 3 weeks watching price go lower / side ways) but we have some really positive price action now including today BIG green bar. I will post in the notes entry / add to position, stop & take profit soon.
Long
by Gmanns777
Opportunity to Short CD leg of Potential Bullish Shark Pattern It is risky but it is a very nice R:R. The target zone is a confluence of a bullish shark completion, an AB=CD pattern completion, the 50% retracement of the larger bullish move, as well as an area with some previous structure as a cherry on top. I will definitely be interested in longing from this area should the opportunity present itself. (Note: the shark pattern may extend all the way to the 2.24 so it is important to watch price action in the rectangle to determine when to switch sides)
TVC:USOILShort
by SharkbaitAl
1