PT_Marche

PT_Marche

Still leaning for slightly more upside. From prior posts, my first target price up is $143 with potential to run and tag $150. Per my count I'm still following, as long as a lower low isn't put in below 126.76, I like the odds that we could be starting a wave 5 move upward (yellow Roman numerals in circles count). I'm currently holding a call debit spread and...

PT_Marche

Please see AAPL chart posted before this one from few days ago* Still holding small long position. Things I'm watching to adjust / add to my position: 1. Risky: potential small short scalp trade (I entered buy Jan 15 120 put / sold 117.50 put) for cost of $84; stop loss if break high of day of $124.57) 2. Price is consolidating just below the high of 124.57; if...

PT_Marche Updated 

Getting back into swing of things and looking to post consistently again. To me, Apple looks can potentially break up or down being in this consolidation. I personally am going to wait and see how it opens on Monday. Per an Elliott Wave count of mine, above $122 I'll look for a break above $126, which would indicate for me we could be in a Wave 5 (white...

PT_Marche Updated 

Think AAPL is about to have a big win or lose battle here.... currently in a pretty important supply zone that I think can really have a major impact. If zone rejects, can be a pretty decent slide down. If it gets through, it also has to contend with 304 which was set back in February during the sell off. A break above 304 can give it a really good chance to...

PT_Marche Updated 

Think this could be another great post earnings opportunity. From being in a chop zone prior to earnings and then earnings accelerating price action to put it right into either a supply or demand zone. Obviously sold off right into a demand zone. This one is a little more "patience" involved as there are two demand zones I am seeing right on top of each other...

PT_Marche Updated 

Just parked right in the middle of a chop zone not knowing if it wants to gap fill or go back down. 59.40 and 58.50 are the prices I’m watching as a break above or below will send this to the respective supply or demand zone. It has been trading sideways for awhile consolidating; whether it rallies or drops will have to wait and see. This is perfect example of...

PT_Marche

Another one I'm watching today. LULU is just hanging out chopping up and down trying to figure out where to go. For this one, falling out from a previous wedge, my bias is to the upside ... eventually. Either 1) if we go to demand, I'd like to look for an entry long because generally after price breaks down from a wedge pattern, price action tends to retrace...

PT_Marche Updated 

I keep seeing BA posts everywhere and the more I look at it the more I like it. It looks like we are in diagonal sold off into demand. Potentially a good risk/reward opportunity here. I’m going to actively watch this one and look to enter a long position. My long position will be less risk and I’ll look to go out to end of June / early July. Above 133.80 will...

PT_Marche

Watching rest of day to see if we go above the HOD. If HOD holds, I’m leaning to downside and think we could be going into a wave 3 impulse wave. This supply zone aligns with the fib levels and also align with a wave count. Whether the wave count is accurate is always hard to tell as the market can throw some price swings to invalidate and go against wave theory...

PT_Marche

Still pushing, until lower lows are made, have to pivot and assess what’s being giving. Thinking we can see a push up to gap fill in short term. Market sell today sold right into a daily demand zone. If this holds, think we can see a smaller 5 wave count up to test gap fill and possibly retest 296. My plan is to watch price action in this zone here we are...

PT_Marche

If you saw my prior education post of why I trade post earnings, this is another perfect example. Leading right into earnings price was right between supply and demand zones. Earnings release rocketed the price right into supply and, not surprisingly, sold right off back down into a demand zone where we currently sit. My overall thought is leaning bearish here....

PT_Marche Updated 

Think for INTC to try and save itself tomorrow it needs to get above 55.75 if it wants a chance at reclaiming 55.93. If the 55.93 zone rejects, I'm leaning towards price testing the new low made and will look at a price target of 54.13 to the downside. Game Plan: If it can reclaim 55.93 and print above, make higher lows (despite the lower low put in), I would...

PT_Marche

No change to my game plan. I see us currently working on a 5 wave structure down (yellow circles) within a larger degree wave 3 down (yellow number circles structure within the yellow Roman numeral “iii”). My price target is 273 zone, at which point I think we can see a small relief bounce for yellow “iv” up. As we get closer to completion for of these five...

PT_Marche

PLEASE NOTE: this is just my opinion. I know a lot of people who LOVE trading earnings and can and do have some pretty good results. If you trade earnings, that's awesome, I just always say no matter what or how you trade, just have a plan and stick to it! But for me, earnings just doesn't fall into my game plan. I used to trade earnings with some up and...

PT_Marche Updated 

As long as we keep making higher lows in the current demand zone, I think we can bounce out and still try for a push up to 138. I, again, redid my wave counts but nothing has changed for my overall projection; just will take different structure to hopefully get up there! I’m currently in a call spread—entered towards end of day. I’ll be looking for a bounce out...

PT_Marche

Sorry, forgot to turn off my second chart... make sure you are looking at the chart on the left when doing this... though, both are relative As we can see, my game plan for today was to WATCH for a confirmation of a wave 1 - 2 setup to indicate that Wave 4 (wave "iv" in white) would be complete and that we would start the 5 wave count down for Wave 5 (wave "v"). ...

PT_Marche

Leaning to the downside with this one now especially after breaking down from the wedge. Game Plan: if we open down tomorrow, I think it can hang up around 272, and if this happens, I will look at a retrace back up to supply around 278. It’s here where I think can provide a lot of confirmation bias. IF this happens and price rejects this supply, I think we will...

PT_Marche

Leaning towards the market starting to turn over again now... took a lot of time to recount and review and I think the breakdown from the wedge up completed the relief rally (where I have (e) = “v” = “C” = “X”; all of these being lesser degree structures coming together, I.e. e completed V; V completed C; and C completed X). With that, it looks like we are...