momo_7

momo_7

ABW and Wave 4 in progress

momo_7

1. Head and shoulders 2. Bearish MACDH divergence 3. Wave 4 ending

momo_7

Head and Shoulders neckline breaking!

momo_7

Short soon

momo_7

The base has held (obviously). 2 possibilities: (i) DJI will head to re-test the upper edge of the BT a 4th time (ii) We are in a wave 2 bounce. There is enough concerted stimulus globally that (i) is more likely. Also the vaccine will most probably be out end of the year max and things will go back to normal.

momo_7

(i) Ascending Wedge nearing the 3rd contact point on the upper edge (ii) Elliot Wave 4C nearing the Fibonacci 76.4% retracement, which coincides with the bottom of Wave 1 (iii) Bearish MACDH divergence on the 4h charts

momo_7

BABA either bounces to test the 50% retracement (Wave II scenario) or Breaks down here and melts down to form an immediate Head and Shoulders breakout

momo_7

H&S, with a Descending Broadening Wedge likely to bottom at the neck line Picture says it all

momo_7

Falling Wedge Bullish Divergence at 76.8% retracement Reversal candle at falling wedge base

momo_7

Falling Wedge Bullish MACDH divergence

momo_7

(i) Likely Wave 4 retracement (ii) 38.2% retracement (iii) Ascending wedge (iv) Descending Broadening Wedge upper edge resistance (v) Bearish MACD, MACDH divergence Short for wave 5 then go long for the breakout of the DBW!

momo_7

Right shoulder bounce about the start Descending Broadening Wedge + Indicator Bullish Divergence corroborate the setup.

momo_7

Neckline, Right Shoulder about to form. The descent is a Broadening Descending Wedge with a TP that corroborates the H&S Bullish indicator divergence also supports the Right Shoulder bounce coming.

momo_7

Setup: Potential Rising wedge / Wave C completion Indicators: MACDH made a significantly lower high Wave form: TCP / Rising wedge breakout downwards

momo_7

Short-term Ascending Wedge, Mid-term Broadening Top Short-entry Signal: Ascending Wedge upper edge + Bearish MACD divergence

momo_7

Setup: Broadening Top (Weekly Chart) Status: The current down-leg appears to be starting Wave 4 upwards, which should see the DT line tested this coming week. Indicators : Stochastic bullish cross + Reversal candlestick as entry signal. Stochastics still dropping and converging, --> The short-term down trend isn't over, which confirms the current bounce is...

momo_7

1. Setup: Potential Ascending Broadening Wedge, TP $54.2 2. Invalidated by a close below the lower trend line

momo_7

Setup: Wave 4C Bearish engulfing candle Stochastic bearish cross, MACD failed cross