It’s rare when all of you indicators point in the same direction, but when it does, a powerful trade can open up. I wanted to show you such a trade that just completed in the QQQQ: Real quick, price formed a 5-wave Elliott Wave fractal into the intraday highs, but more importantly, notice it did…
I wanted to point out a 5-wave Elliott structure and two bull flags that offered trading opportunities in today’s (April 21, 2009) intraday SPY structure. We started the day with a medium overnight gap which was quickly filled (small to medium gaps have greater odds of filling than large gaps), so that should have been…
I wanted to highlight the near perfect Elliott Wave structure that formed intraday on SDS (S&P 500 UltraShort), including a focus on trading opportunities and set-ups within the developing wave structure. (Click for larger image) First and second waves are notoriously difficult to predict or trade, but once you know what you’re looking for and…
Talk about stopping a market dead in its tracks – Copper prices have reached a target area of confluence resistance that offers a favorable risk/reward ratio if the resistance holds. Let’s these forms of resistance and what they might mean. Copper Prices Daily: There’s more to see on the Daily chart at the moment. We…
So, what pattern is the S&P 500 forming right now? There’s three main possibilities using classic technical analysis at the moment – let’s take a quick look at these three possible patterns and what they might mean. First, it could be a standard “Rounded Reversal”: (Click on any of these charts for a full-size image)…
I renamed today “TICK Divergence Tuesday” in honor of the numerous TICK Divergences that gave valid trading signals on April 14th’s intraday trading (in the SPY). Let’s look at these TICK Divergences, two bear-flags, and a 5-wave Elliott Pattern that guided the structure of the day. (Click for full-size chart) The main purpose of this…
Passing on a quick 1-min chart of the SPY (S&P 500 ETF) to show that we’ve already had three major TICK Divergences and a 5-wave Elliott Pattern. Let’s see those quickly: We had a quick “Three Push” Pattern down off the morning’s opening gap (the “Three Push” is a popular reversal pattern) and then we…
A reader asked me to take a look at Las Vegas Sands (LVS) and I found some fascinating patterns, including a complete Elliott Wave Count, Cradle Trade, and Bear Flag. Let’s see these in action! Las Vegas Sands (LVS) Weekly: Las Vegas Sands is a Gambling/Recreational Company famous for their casinos. Price made an all-time…
On each intraday post, I try to highlight a key trade set-up or structural point that occurred during the day. Today, I wanted to highlight the Two Flags – one bull and one bear – as well as the Two Cradle Trades that set-up during the day. Let’s see them in action! The day began…
I wanted to show you an interesting Elliott Wave fractal that set-up into the close of the trading day for April 7th on the 1-minute chart – mainly to show the fractal nature of the Elliott Wave Principle. (Click for larger image) I’m also still keeping the TICK on the chart from last night’s post…