Seems to me like this could unfold as a complexe correction if bulls are to remain in power longer term. We could see soon a move up but if it stays sideways it's most likely going to be a wave (b) of higher degree Y imho. Look for individual names showing relative strength right now, those are most likely to be the next big leaders.
Buyable But consider buying on an intraday pullback maybe to improve R/R a bit.
A bit too extended from entry point for my liking so try and get in on an intraday pullback similar to GOOGL. R/R worth it considering I'm going for ~290$.
It's possible price goes back below the 100$ BO level but I'm nonetheless trying a small position here with a small stop at 99$. I'll add on a move above 104.5$.
A move above 238$ could take this to new highs giving a R/R of more than 3.5R. If price goes above 262$ (78.6% Fib retracement), it's likely it can go towards the 127.2% level around 300$.
I bought this one yesterday with a Stop at 60.5$ If you want to get in, maybe wait for a small intraday pullback before doing so if you consider that a 6% risk is too much for you in current market conditions.
Price action from the 4640 high is not impulsive imo and thus increases the chance of this being a 1,2 move ! From the 18th we also got a 5 waves move up from the 4362 low and so, if current pullback holds above this level and can then make a new high above 4491, I think we can say that we have started a new bull run.
Nat Gas - Add this to your main watchlist. We could get a nice opportunity to short if we get a small pullback next few days to the noted orange zone at which point we have to look for clues for a potential sell off. #patience
Looking for this one to go to 78$ at first. Positive earnings last few quarters and good looking volume pattern indicate a potential breakout is imminent. The wave count suggests we are finishing a wave 4 of higher degree wave iii.
Oil seems to be finishing a 5 waves move and approaching potential resistance zones which are the Fibonacci clusters in green at 113, 115 and 118. I do not know which one of those will act as resistance but one thing is sure, it's time to take profits off the table, not add new positions for the short term at least. On the hourly time frame, we can see that...
NIO - Made 5 waves up but it looks like this could actually be a wave C ! Therefore be very careful if you want to buy the pullback. If price goes down to the orange zone in corrective fashion and we can distinguish a corrective pattern, we can look to buy the reversal out of that zone and even add on a new high. BUT if that's not the case and we see...
S&P500 - As I said on my last post, it's very likely we're in an Ending Diagonal wave 5 here and should therefore not initiate any longs just because we saw price make a new high. The ED is invalidated if price is to go above 4344. We can look for support at the noted orange zones at first. If the Blue impulsive count is correct, we can expect wave 4 to be...
Ethereum - ETHUSD - Price missed the 161.8% Fib level by a bit... Now we have to look for potential support at the blue zones 1900-1700. Below that I think it's less likely to be red wave iv, I would then rather look at it as potentially higher degree blue wave 4.
There's really no big change since my last post (see below) Bitcoin - BTCUSD - Count #1 : We could see price stall around the 30k-35k zone in case this count is correct since there's potential support from the 38.2% Fib retracement level, the 1.618%-200% Fib projection level of wave (a) and that simple trend line from the wave 2 low. For now, price made a...
EOS - I'm not necessarily convinced by the wave counts here but what I do like is the fact that it's outperforming BTC. Looking at Fib levels, I think if price can go and remain above ~13$ it could easily reach 23$ at which point I would also look for the 1.272 Fib level at ~50$ . That's simply because when price tends to break above the 78.6% Fib retracement...
If price can go above 130 without dropping below the 78.6% Fib level at 113 and of course the invalidation level at 100, it has a high chance of making a new high. Above 130 I would look for a move above 143-ish before going for 178 then 200
Watch the Fib levels as potential support but DO NOT BUY RIGHT AWAY! Wait for a base to build first before initiating any long positions !
ZM - This wave 4 correction I talked about a few months ago turned into a combination it seems and reached equality of wave W vs Y. Price also bounced off the anchored VWAP from the wave 2 low. But I don't recommend blindly buying right now, unless using tight stops of course, but rather wait for a confirmation that price really wants to turn first.