So far everything is playing out perfectly, we had our bounce due to selling exhaustion. We are currently at our first resistance $19.20. If we break this resistance there is a good chance we break up to the $20.72 to complete our wave 4. Now keep in mind it's christmas time, typically we rally so if we do break higher i won't be surprised. Eliiot wave: We are...
So far everything is playing out perfectly, we had our bounce due to selling exhaustion. We are currently at our first resistance at $386 . If we break this resistance there is a good chance we break up to the $394 to complete our wave 4. Now keep in mind it's christmas time, typically we rally so if we do break higher i won't be surprised. Elliott wave: We are...
So far everything is playing out perfectly, we had our bounce due to selling exhaustion. We are currently at our first resistance at $135 . If we break this resistance there is a good chance we break up to the $138 to complete our wave 4. Now keep in mind it's christmas time, typically we rally so if we do break higher i won't be surprised. Elliott wave: We are...
Look keeping this brief.. At this point we will see a $50 tesla. Extended wave 2 and wave 3 sitting at the 161% fib extension lands us at $50.. yes 50... a bounce for tesla is warranted but will be short lived. MACD cross below the 0.. MFI headed towards overbought no divergences at the moment..
We might be creating a flat wave 4 retracement. These are the requirements: Guidelines • A corrective 3 waves move labelled as ABC • Subdivision of wave A and B is in 3 waves • Subdivision of wave C is in 5 waves impulse / diagonal • Subdivision of wave A and B can be in any corrective 3 waves structure including zigzag, flat, double three, triple three • Wave...
This is the bullish scenario for TQQQ i think we will hit the support at A but a reversal www.tradingview.com could take place at that point
www.tradingview.com [/urlOk so with the divergence on the 4 hr it is very possible wave 5 is complete, But we have a zigzag formation that has not been completed yet, C will mark the spot at 100% extension, if we were to reverse here these are some levels to watch. I know most people are bearish and so am i BUT the market has never tanked when people expected it...
So far my TA has been spot on, lets see if I can keep the hot streak, major imbalance in orders with the large gap, looking for a long to fill the gap then close PLEASE CHECK MY POST ON AUGUST 28TH www.tradingview.com This TA could easily turn bullish
According to Elliot wave -Wave 3 is @ 161% fib extension of wave 1 and 2 ( Usually the wave 3 is extended to the direction of the overall trend, so use caution) (IF WE DO NOT GET A REVERSAL TOMORROW AND WE DUMP AND BREAK WAVE 5 SUPPORT WAVE 5 COULD BE WAVE 3) Extended -Wave 5 is usually the length of wave 1 or extension of wave 3 and 4 @ at the 61% extension...
I'm not going to bore you with economic data, we all know the fed will continue to raise rates until the economy shows signs of weakening. The fed WILL pivot and we will see the market turn. So a weakening economy should be bullish for the market.. sounds crazy but bad is good now.. Please if your expert at Elliot wave I www.tradingview.com would love to hear...
Preparing for next week. As yall know I sold my SQQQ position at $19.60 support range, I'm looking for another short position. This is what I'm seeing 1. Overall we are still in downtrend so I'm only taking short positions 2. We broke 2 previous supports we are currently retesting the $18.40 - 18.20 range, with the bigger resistance being the $19.60-$19.20...
I don't know yalls current situation but right now I'm sitting on cash. In order for you to become a good trader you have to lose, when you lose you learn a lesson and you turn those lessons into a set of principles that you follow. Follow them. So this CPI data release could have thrown a wrench in our original Elliot wave.. I said COULD.. From looking at the...
We hit the wave 4 target that we talked about in the last post... where are we going???????? honestly i have no clue but this is what the chart is telling me.... We are in a larger time frame pull back.. Y'all already know the elliott wave count it's pretty much stayed the same the last couple of days... Right now i see wave 5 coming.. ADX is detecting a weak...
So if your not familiar with elliot wave here's a super quick summary. There are 5 waves and after the 5th wave is complete u have a strong pullback correction which could retrace 50% - 61.8% of Wave 1 and 5 I believe we have completed the 5th wave and we are currently in a correction phase, specifically a zigzag pattern which to be honest is usually seen in 2...
Well we talked about hitting this level in our last post and the target was hit, again I'm only looking for short positions. (Below 200 ema) Currently we are overbought on the MFI and if u look back this has marked a good opportunity to short the market. TSV started showing bearish divergence ADX validated the trend. Which is bullish but still a little early...
Next moves will be dictated by the PPI report tomorrow. Elliot wave: I believe we have just completed our zigzag pattern to the upside, C completing at the 123% fib extension of A and B. The Full move ABC completed at 50% fib level. If we move high tomorrow look for a overbought signal, this could be creating the wave 1 and 2 to the downside. Pattern: Bear flag,...
These next moves will be dictated by the PPI report, If better than expected we have the Green scenario. If its worse than expected we have the red scenario. Elliot wave: Nothing has changed, I believe we are still in a wave 4 correction, with low volume. We hit the 38% fib level which is a very common fib level for wave 4. We are showing signs of bearish...
All this really depends on the PPI data released tomorrow, Please do not try to predict the data, wait for trend direction. Please take a minute to look at my last post on tesla, we hit wave 5 almost perfectly. If this $167 level can hold this setup is valid. This will be a temporary reversal up to the $221 to $240 range. If we get a bad report tomorrow and...