sethsalazar70

sethsalazar70 Updated 

Forming a nice looking triangle on the macd www.tradingview.com

sethsalazar70 Updated 

Talk about a short squeeze, perfect timing with all these options expiring soon. First i believe spy will go a little higher to test that descending trend line but before we do that we have to pick up buyers which means we need a pullback to our support Again elliot wave... nothing has changed from my last post except we are starting to see some trend...

sethsalazar70 Updated 

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 Wave 2 and 4 are corrective waves. 3 and 5 are motive The 2nd wave can retrace up to 90% but not past the start of wave 1 The 4th wave correction is...

sethsalazar70 Updated 

Alot to cover here but this is what i'm seeing 1. Remember we are still in a downtrend on higher time frames so be careful. 2. We talked about a potential bounce in my last post and we got it. 3. As of right now we are in a wave 4 which usually has the longest lasting pullback, we are forming a bullish channel or bear flag and if we break this bottom channel...

sethsalazar70 Updated 

so i shorted TQQQ today.. not the best entry but definitely not the worst.... what do yall think am i gonna get stopped out or hit profit?? FYI i had no idea the PPI report was coming out tomorrow

sethsalazar70 Updated 

Hello traders be carful......A short squeeze is taking place, everything I'm seeing is not justifying this uptrend. Now it is still a early to call these divergences but as of now there is a major offset, This looks like a wave 5 pull back to the 61% fib level with a zigzag ADX is not respecting this leg up MFI is showing a major offset TSV showing major...

sethsalazar70

• 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 B terminates near the start of wave A • Wave C generally terminates slightly beyond the...

sethsalazar70

This is what I'm seeing: ADX is validating upside pullback (Wave 3 hits 38% fib level) MFI is overbought TSV showing big bearish divergence Bull flag forming on the hourly chart Good luck God bless

sethsalazar70

We have had a nice rally the last couple of days but will we keep it? If we look that the chart we got rejected off the resistance and we are trying to work our way back up again The ADX is going below 20 which tells us that this last leg up has lacked strength The MFI is overbought which could mean a short term reversal Your still within the channel...

sethsalazar70 Updated 

Traders it's gonna be a exciting week, so start preparing now. There is potential that Wave 4 is not complete and we could move up towards the 50 or 61 % fib level, mind you those levels are not typical in a wave 4 especially with a extended wave 3 but it can happen. On wednesday the fed will announce the next fed rate hike, i don't see the market making big...

sethsalazar70 Updated 

www.tradingview.com So just a friendly reminder that we are still in a bear market so be extremely careful trading against the trend! I closed my long position a little early to manage risk. This is what i'm seeing, the last few large candle sticks have lacked volume behind it, which means we lack BIG money. TSV showing signs of weakness and bearish...

sethsalazar70 Updated 

1.We are oversold on the 4hr 2. Bullish descending wedge forming 3.Expecting a small bounce to the $19.68 4.Expecting a rejection@ $19.68 5. Hard downward movement to wave 3 @ $15.77 5.Begin wave 4 to the 38% fib level @ $24.85 www.tradingview.com

sethsalazar70 Updated 

ELLIOT WAVE!!!!! historically the market is bullish towards the end of the year.. i think elliot wave aggrees www.tradingview.com

sethsalazar70 Updated 

Short term reversal for ADA at $1 support, big divergence on the RSI. I don't think it will be a full on reversal due to the market downward movement. Could be a good trade opportunity.

sethsalazar70 Updated 

A slight correction for wave 5 then continue to the down side, no major support on the 4 hr so im thinking TQQQ could go as far as $28.10

sethsalazar70 Updated 

Well everything is going as predicted, i sold SQQQ at the close to manage risk and lock in profits, even though there is a high probability of going to the downside i'm not going to be greedy. So looking ahead we are forming a head and shoulders on the 1hr time frame with the shoulder area being a high volume / support area ,$19.88-$19.29 as of right now the q's...

sethsalazar70 Updated 

1. So looking back on the chart when the MFI has hit over bought it has been a good time to short the market, in a downtrend when things become over bought it usually represents a good shorting opportunity 2. If you go back on our last leg down we hit a wave 4 @ the 38% fib level with a descending wedge breakout then dropped to new lows to wave 5 before rallying...

sethsalazar70 Updated 

So just a friendly reminder that we are still in a bear market so be extremely careful trading against the trend! I closed my long position a little early to manage risk. This is what i'm seeing, the last few large candle sticks have lacked volume behind it, which means we lack BIG money. TSV and MFI are both showing signs of weakness and bearish...