beniyer

beniyer Updated 

Determined wave 5 potential termination targets, already crossed 16,718 so the next one is 17,320. I am hoping to observe price action the next few days and take a short position accordingly. The stop loss levels would be 100-150 points above 17,320. Wave A should then correct to at least 40-50% of wave 5, potentially more. Will see how price action develops...

beniyer

Wave 5 seems to still have some steam left. I expect the price to go up to about 394 (around that mark) before it starts correcting. I intend to watch price action over the worth coming days or weeks and take a short position.

beniyer

Currently going through wave 4. Once it retraces to 23.6. one can initiate long positions. Remember wave 3 was extended so wave 5 might not be that huge. After wave 5, correction waves A, B and C will commence. But the underlying bullishness in commodities can always extend wave 5 and the correction may end up being smaller. Will make further updates when I get...

beniyer

EW Analysis I will update the wave count as I continue to track it. This is not a trade recommendation. Purely for analysis and tracking of how ideas pan out.

beniyer

Wave 5 termination and RSI divergence leading to a correction wave a.

beniyer

Wave 5 seems to be ending and correction wave a might commence anytime now. RSI divergence indicates the same.

beniyer

Correction wave (a) seems about to commence. RSI divergence and doji at the termination of wave 5 is also indicating a trend reversal.

beniyer

We can see negative RSI divergence. Price seems to be in an uptrend whilst RSI is in a downtrend. I would short AAPL. 168-174 could be a reasonable target.