Posting here for anyone who missed it previously in the chat room a few days ago.
This is a count I've been following since shortly after wave ii topped. I've gone back and forth between standard impulse and diagonal, but now it's looking too deep to still be a diagonal. We got a perfect hit on the 1.764 this morning, and with the RSI divergence I'm looking for a bounce (soon) in wave iv, before a final drop in wave v.
Disclosure: I am long MSFT with shares from ten years ago, and using protective puts to profit from the recent downturn. Looking for Primary 5 after this correction completes, will likely sell my shares sometime in 2019 if that plays out.
This is a count I've been following since shortly after wave ii topped. I've gone back and forth between standard impulse and diagonal, but now it's looking too deep to still be a diagonal. We got a perfect hit on the 1.764 this morning, and with the RSI divergence I'm looking for a bounce (soon) in wave iv, before a final drop in wave v.
Disclosure: I am long MSFT with shares from ten years ago, and using protective puts to profit from the recent downturn. Looking for Primary 5 after this correction completes, will likely sell my shares sometime in 2019 if that plays out.
Comment:
Well we certainly got the bounce I was expecting. Closed half of my protective puts on Monday for a nice profit, rebought them back late today for a cheaper price. Still expecting wave v for one more low to complete C, targets are slightly updated as below.
Comment:
Adjusted the channel after the second surge yesterday/today, likely completing wave iv. It topped right where I expected near 102 and the 1.000 fib. Now looking for wave v down over the next few weeks. Target hasn't changed, from the 1.000 fib I'm expecting it to reach the 2.000 fib around 92 region.
Comment:
Future updates will be published here: "Looking for a drop"
