On May 5 I posted a posted a potential short setup that did not pan out In my opinion today there is another potential reversal pattern: A small Rising Wedge could have concluded a Double Zig Zag from the January low, probably establishing the wave (A) of a large Zig Zag Tomorrow I will open […]
TWT Setups Watchlist
Daily time frame QQQ: Following the April Island reversal, which established the end of the up leg from the February low, the initial decline has been sharp (Although not impulsive) reaching the 0.382 retracement. However since the May 6 low price had been forming a base.
Daily time frame: The rally from the February low has carved out a potential Rising Wedge If the Rising Wedge plays it can be a reversal pattern, in which case the risk is that this rally is over (Price could resume the down trend with new lows) or it could be a Leading Diagonal, in […]
Daily Time frame: TZA has a potential reversal candlestick (Hammer) If the upper descending trend line is breached we could make the case that TZA is breaking out of a falling wedge and probably the decline from the March high has concluded an EW pattern (Maybe the wave A of a Zig Zag).