In the daily count of the ES futures, we may still be slogging through a fourth wave triangle - possibly a barrier triangle at this time.
 |
| ES Futures - Daily - Still in (b) ? |
IF it plays out, the significance of a barrier triangle is that supposedly the market has spent so much time beating up against the barrier that it typically makes a substandard thrust out of the triangle (i.e. less than the triangle's width).
Hopefully, the (c) wave, if an when it begins, will make at least a 62% retrace on wave (b) to express good form and proportion in the wave.
Today, we were only able to count three-waves-down. So if the 'a' wave of (c) is beginning it might have to be a diagonal. And, if a diagonal 'a' wave forms, it is very likely that we are in a triangle.
Have a good start to the evening.
TraderJoe
Yep!
ReplyDeleteLooked back at my old chart with CRB index peaking again. Momentum "could" be changing for TLT however looking back stronger trend "could" develop if CRB drops. I'm brand new to intermarket analysis.
ReplyDeletehttps://www.tradingview.com/x/Wy4KglAj/
I should note the 2day chart of CRB index has enough bars 144 with AO divergence. Completely possible this is 5th wave of 3rd wave.
DeleteWhat abt an ed for c
ReplyDeleteNo cause to consider it. No overlap from B.
DeleteSuch a boring market..
ReplyDeleteThis comment has been removed by the author.
DeleteTraders sometimes forget there are three market trends, and one of them is sideways/range-bound. Successful navigation requires a strategy for each, and in some ways, boring markets pose much less risk with certain strategies.
DeleteDXY (dly) -
ReplyDeletehttps://funkyimg.com/i/3ceuD.png
Gold (cfd) (4hr) - observations
ReplyDeletehttps://funkyimg.com/i/3ceEU.png
I think I am to early on BTC impulse completion. I think we may be in C of a flat for 4 then 5.
ReplyDelete$24k - $20k seems probable
DeleteLook at bitstamp log chart from 2011. Very possible it's completed it's final wave 5 as a wycoff distribution top. Other charts have incomplete information, for example - coinbase.
DeleteI think, we completed 4 as a triangle and now in 2 of 5.
Deletehttps://schrts.co/PhWNrFbB
ReplyDeleteGetting very low. Yesterday’s close
Agree. Good work, Tim.
DeleteGEO (dly) -
ReplyDeletehttps://i.postimg.cc/L6hHBFLf/GEOd.png
https://www.tradingview.com/x/5NaLWQL3/
ReplyDeleteTna small cap 4 HR etf chart. This is yet more evidence of short term upside to come. Amazing how it is backing off now from a near exact hit of the 1.618 extension of the preceding wave.
Well, on the NAS composite DJI and S&P, 1 hr momentum indicators all lined up to go down at the same time. No idea of the size of the move but this doesn't happen a whole lot. The DJI seems to be leading.
ReplyDeleteIt's good to be right.
DeleteNo momentum divergence to signal a bottom / reversal on 1/2 min charts yet.
Spoke too soon, there are divergences at 1/2 min. Another pop down should make it show at 5 min and higher. This is using RSI 6 periods.
DeleteNew low made a bottom momentum divergence S&P 1/2min at 2:43pm central / 3:43 eastern.
DeleteThis also shows on 5 and 15 min charts.
DeleteSir, in a barrier triangle do b and d have to exceed the start of a or can they end lower but b and d at same point. I am looking at btc and wondering if action of yesterday could be d and now we are doing e up. Thank you
ReplyDeleteb & d are "roughly at the same level" according to the Elliott Wave Principle.
DeleteTJ
Thanks
DeleteES 1-HR: hitting a bunch of fractals below the gator again. Nothing definitive yet, but interesting.
ReplyDeletehttps://invst.ly/v34o3
TJ
I wonder if Mr Market knows something about jobless claims that we don't...
ReplyDeleteThe important number tomorrow morning isn't jobless claims, it's the CPI. That number should move every market.
Deleteboth are irrelevant
Deleteas you should know by now
A new post is started for the next day.
ReplyDeleteTJ