Another $ or so and the weekly psar turns bullish for the first time in a year :-/ Nervously and fomo'ly long...
Ones last wedge breakout to complete this complex wave I down.
Things are so unclear lately it is dangerous to post for risk of ridicule but this is the first time I feel I might have a handle on how this correction is playing out. Even as I write, the break out downwards is slowing and reversing...so not 100% convincing, as I'd expect this to break out with some enthusiasm :-/ So, having watched the triple top/H&S unfold,...
Wave ii appears to have completed an almost perfect 50% retrace to 1475 where it has so far met solid support. 1hr and 4hr StochRSI are simultaneously bottomed and charged for a move up into wave iii As my wave i target 1515/1520 was not reached, this means wave i was very slightly shorter so I'm expecting a longer wave iii with a shorter wave iv up to the higher...
1D StochRSI is bottoming out. The shorter time frame dump action seems to consolidate above 240. The price action down from 1545 ($250) looks like an abc rather than an impulse. This all supports the idea of a corrective abc retracing the journey down from 4, 1875 ($300). This is 1655 or rather, the magic 270 everyone's been talking about for ages. This is...
I've never looked at a Renko chart...wow it is truly amazing. This leaves me in no doubt about the EW structure of the whole last 1.5 years. It is incredible how the Renko chart picks out the EW waves. And complex confounding corrective moves...just drawn out wave for wave! This gives me a very welcome insight into the current price action. My previous EW...
Having found brief support off of the lower wedge line price has failed to make ground. Breaking downwards through it leads me to believe that we are headed towards low $200s I'm expecting a quick in/out opportunity at the end of wave 3, so 1365 cny / $220 Then to low $200s before retrace up to the hallowed $270 we all expected from this last rally, but which I...
A few more days of data from my previous post and I see an upward wedge, potentially a leading diagonal forming the illusive wave 4 of the larger downward impulse. Serious double top at 4 perhaps confirming this. I'm looking for a break down through the lower red line to confirm this...depending on which fib I choose, this targets low 200s or if you use wave 3...
Been trying to work out what this breakout rally is all about. Wave 4 was v unclear. Realised now it is probably an expanded flat. This makes the 244 run a corrective move rather than a new impulse bull run...and means wave 5 is underway...towards 200.
To accompany my previous post of the hourly chart and completed abc. This is my daily picture. I wonder if this stops and truncates at 210ish or whether it breaks through? I have to travel today so any feedback that helps me with my game plan will be greatly appreciated. Thanks a lot.
I see an impulse down from 234, and an abc which I predicted to peak out at 71% or $227 or here, 1420cny On a larger timeframe this ends wave 4 of an impulse down which leaves us at least one leg down from here.
I've been convinced by the EW correction that seems to be the majority vote at the moment. This descending wedge looks like it could have something else to say. What do you think?
I've been trying to decipher what's been going and nothing's been fitting. I just realised this potential answer. This explains the protracted retrace and heavy support coming from $367 or 71% Shorting into high 240s then long on this basis. Any thoughts? Thanks a lot.
H&S reversal potentially forming here. Potentially this is completion of wave 2, running into wave 3 travelling back upwards from $236 low. Dangerous choice but upwards from here has potential to break the year long downtrend. Tight stop. Selling just beyond todays low...Manually though, not with a stop market order :-/