ricsalrod

ricsalrod

Since 20K, the drops have been getting flatter every time. This suggests a C&H pattern, which would imply that we've already bottomed. What do you guys think?

ricsalrod

If this happens to be the case, it would mean that this consolidation is a 4th wave and the target for 5th is $70.

ricsalrod

If my count is correct, we just ended the C leg (hit 61.8% wave A extension) of a zig zag. Started a small long position on the channel and subwave (iv) break, 50 day RSI bounce, 2H MACD crossover, 61.8% wave 3 retracement and 4H 55EMA bounce. In this count, wave 1 and 3 hit a perfect 1:1 extension, so I'm expecting an extended fifth wave. My target zone is the...

ricsalrod

This is a great opportunity to enter a long position on Micron. We have a bear and bull scenario, the bull one is the most likely. Bull We just finished the wave ((i)) of the wave 5 (one larger degree), so I'm expecting a correction between the 50% and 65% fib (49.42-$51.15). Why? Because: -4H RSI broke this ((i)) wave support -Second waves usually retrace...

ricsalrod

Chart speaks for itself. Watch for 4H RSI triangle break.

ricsalrod

Don't buy with the RSI on descending channel. Buy zone: 174-171.4

ricsalrod

We are currently looking for the confirmation of the subwave 4 of the wave C correction (in white). I'm gonna play with the wave C (in blue) as it follows: 1. We need a candle setup to "confirm" the sub-correction, I'm waiting for a hammer and the next candle to close above it. 2. When this happens, our RRR will be too low, so wait for the wave B to retrace A....

ricsalrod

11800 is a major resistance level, I think BTC will eventually retest it and will fail... only to consolidate through a descending channel, wedge or symmetrical triangle and break out with strength.

ricsalrod

This bullish ascending triangle matches perfectly with chinese new year

ricsalrod

Think 200MA will be the bottom of this correction, -Strong reversal on Friday, forming a big bullish hammer candle -$US10YR touched the roof of its channel with a bearish long hammer candle (fear of a rising inflation triggered its rise and the stock market correction) -The 200MA support was respected -In this correction, green days' volume was higher than the...

ricsalrod

1. How do I know it's a correction? Corrections often happen when the price action of a security is too intense to keep going that way. The signals I saw since 3.15 are the following: -The rally was, in fact, a stair step pattern, bouncing each time it touched the trend (in sky blue) to make new highs and breaking the RSI 70. -Volume was decreasing as the...

ricsalrod

I think it's a textbook bullish flag, with an ascending volume on the "pole" and descending on the "flag". Also, measured from the pole, the strong bullish trend didn't retrace more than 50%, which is healthy. Flags are formed because of the consolidation of a very steep trend. I think this correction is healthy, because the price action is testing supports and...

ricsalrod

If the price goes sideways on 39-39.5 MXN and then breaks the 39.5 resistance, my target is at least 42.6 MXN. Anyways, I'll feel confident to buy when the price breaks the 40 MXN psychological resistance.