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Harmonic_patterns

$SPX500 Technical Analysis: Divergence Signals and Key LevelsOANDA:SPX500USD The SPX500 is currently displaying notable divergence on the daily timeframe chart, highlighting resistance near $6121 while the critical daily fractal support teeters at $5920. Key Levels to Watch: Support and Resistance Dynamics: The index faces significant resistance at $6121. Meanwhile, maintaining support above $5920 is crucial to sustain current bullish sentiment. Confirmation of Support Breakdown: A decisive drop below $5920 would signal a potential retest of the weekly fractal support at $5776. This level's breach would confirm a false breakout above resistance, potentially leading to further downside for the index. Potential Downside Targets: If the SPX500 extends its decline below $5776, attention should shift to the 161.8% Fibonacci extension, projecting a deeper correction towards $5557. This scenario sets the stage for a potential bullish shark pattern formation near the golden Fibonacci extension level. Technical Patterns: Previously identified patterns include a bearish deep crab around $6042, suggesting possible downside targets around $5737, near the .382% Fibonacci retracement level. A subsequent bullish shark pattern aligns with the .50% Fibonacci retracement level, reinforcing a critical zone for potential reversals. Happy Trading, André Cardoso
OANDA:SPX500USDShort
by Andre_Cardoso
Massive Falling Wedge Headed Into EarningsAlways keep an eye on LAC, however, I've never seen it hold within a falling wedge for as long as it has, while heading into earnings. LAC is still holding the same massive falling wedge on the daily and weekly timeframes. LAC has a nice double bottom and MACD golden cross on the daily timeframe, accompanied by a bullish cypher harmonic pattern. Bullish and will be looking for a breakout from this wedge (Broader Market Conditions Permitting)- Just some support and resistance levels to keep an eye on along with some RSI-based supply and demand zones in the meantime -- Price Targets & Previous Charts Attached In Description -- PT1- $20.81 PT2- $21.67 PT3- $22.54 PT4- $23.78 --Weekly Timeframe-- -- Previously Charted--
NYSE:LACLong
by jacobosiason7
2
Scott Carney's "Deep Crab" & the Fields Medal in MathematicsQ: What does the former have to do with the later? A: The intuition in the former (S. Carney) is born out by the later (A. Avila; Fields Medal - 2014) From Scott Carney's website; --------------------------------------------------------------------------------------------------------- "Harmonic Trading: Volume One Page 136 The Deep Crab Pattern™, is a Harmonic pattern™ discovered by Scott Carney in 2001. The critical aspect of this pattern is the tight Potential Reversal Zone created by the 1.618 of the XA leg and an extreme (2.24, 2.618, 3.14, 3.618) projection of the BC leg but employs an 0.886 retracement at the B point unlike the regular version that utilizes a 0.382-0.618 at the mid-point. The pattern requires a very small stop loss and usually volatile price action in the Potential Reversal Zone." --------------------------------------------------------------------------------------------------------- From Artur Avila's Fields Medal Citation; --------------------------------------------------------------------------------------------------------- "Artur Avila is awarded a Fields Medal for his profound contributions to dynamical systems theory, which have changed the face of the field, using the powerful idea of renormalization as a unifying principle. Description in a few paragraphs: Avila leads and shapes the field of dynamical systems. With his collaborators, he has made essential progress in many areas, including real and complex one-dimensional dynamics, spectral theory of the one-frequency Schrödinger operator, flat billiards and partially hyperbolic dynamics. Avila’s work on real one-dimensional dynamics brought completion to the subject, with full understanding of the probabilistic point of view, accompanied by a complete renormalization theory. His work in complex dynamics led to a thorough understanding of the fractal geometry of Feigenbaum Julia sets. In the spectral theory of one-frequency difference Schrödinger operators, Avila came up with a global description of the phase transitions between discrete and absolutely continuous spectra, establishing surprising stratified analyticity of the Lyapunov exponent." --------------------------------------------------------------------------------------------------------- The connection here, as it is related to the specific "Deep Crab" harmonic pattern in trading, between intuition and general, analytical result, is illustrated somewhat simplified (but without distortion). In essence, Avila has shown that in dynamical systems, in the neighborhood of phase-transitions in the case of one-dimensional (such as: Price) unimodal distributions, after the onset of chaos, there are islands of stability surrounded nearly entirely by parameters that give rise to stochastic behavior where transitions are Cantor Maps - i.e., fractal. From that point it is an obvious next step to generalize to other self-affine fractal curves , such as the blancmange curve , which is a special case of w=1/2 of the general form: the Takagi–Landsberg curve. The "Hurst exponent"(H) = -log2(w) , which is the measure of the long-term-memory of a time series . Putting it all together, it is not pure coincidence that a reliable pattern (representation) emerges from intuition (observation) which proves to be a highly stable (reliable) pattern that is most often the hallmark of a near-term, violent transition.
CME_MINI:NQ1!Education
by Nemo_Confidat
Nvidia (NVDA)... Light in the tunnel ?There may be hope for you NVDA hodler's. Nvidia's Share price appears to have held the bottom of the channel after a 54% decline from its peak. While NVDA has bounced (apparent triple bottom), we need a strong tailwind (counter-trend) to propel it through the suggested entry point. (Top of rose colored supply zone) Targets and a stop are marked. The projected Harmonic Pattern marked is a Cypher. (Projected harmonics have less of a success rate that fully formed ones) Naturally we need a positive tech market for this to work. Educational not investment advice. Do your own due diligence. Good Luck S.
NASDAQ:NVDA
by Steve666