ajtj's Post-Lobotomy Market Charts and Thoughts Message Board

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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts

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To: Sendme who wrote (74360)	12/3/2022 10:29:28 PM
From: Sendme	6 Recommendations Read Replies (1) of 97910

Patterns part 2, Link back Got called out to work so I had to do this in two parts. Harmonic Pattern Shark - How to trade Shark Pattern (profitf.com) What's interesting about the rising wedge, is that is somewhat a combination of a three drive pattern and also has the potential for a Shark pattern. Three drive pattern in red has a target back down to the .50 The Shark pattern has an entry at the .886 The shark pattern in the above chart is a bullish set up and the high probability area to look for a trade is around the .886 I am still studying the Wycoff structure and find it quite interesting. Always looking for confluence of patterns. The orange 5 wave is an expanding diagonal Wave 4 overlaps wave 1 wave 4 is bigger than wave 2 Wave 3 is bigger than wave 1 wave 5 is bigger than wave 3 Still working on allowing my runner to stay in the trade without getting stopped out too soon. Spike rules: consolidation pattern likely to follow, then look for a pullback after a potential 5 wave count. The market has been bullish and they have been squeezing the crap out of anyone that is trying to short. This is a very nice pattern to trade, but I need to consider taking the 2 point target and adjusting the stop loss to break even at the orange line, because it gets stopped out constantly. 30 minute chart, I think I have already shown this, but worth repeating. My view on fibs is if price breaks above a significant swing high and can't get past the 1.13 extension, it is a bearish sign. So 4200 is going to be a critical level to watch. IMHO Is this a set up for an even bigger double dip pattern? Did I mention that is has become my favorite? Once again, here is a pattern set up that would give a target down to a new low and close to the 3250. Keep in mind that if this were to take a dump, and hit 3250-3280 that would be at the 1.13 extension on the downside which if it holds would then be a bullish signal IMHO This could be the start of a Wycoff distribution/accumulation? Previous structures VIX really doesn't look like the previous market bottoms yet.

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