Still waiting for AMD carve out it's B wave of ii. I am still tracking the possibility of this being all we get for ii, but as stated previously, I don't feel that is the case. I would like to see us create a basic 3-wave move up into the target box labeled B before falling again for c of ii. However, B waves seem to be complex more than simple. For this reason, I...
These orange fibs you see on the chart are tracking a possible i-ii pattern. If this is in fact the wave 5, the ideal spot for an ending would be in the orange box. Notice it is within the larger grey box and the yellow (larger count) target box? These counts are starting to converge creating a more reliable end target. The red box you see shows where these counts...
As y'all know, I entered a position of 10 puts BTO in Apple on Friday. Price has been following/hitting my target boxes for some time now. We have a clear 3-wave move into this latest box, and it matches with my thought process on the S&P as a whole. Not to mention the 4HR MACD looks as if it is about to run out of steam. There is a chance we get another high up...
Tesla has been in a range for almost a week now. That leaves the possibility open that this is a wave 4 of some degree. Accordinng to my count, this is either wave iv or wave 2. The move down from the high of $198.87 on 29 April looks as if it is wave a of some degree. Without more data it is hard to determine which count is the correct one. Don't forget too that...
Coinbase may be trying to throw us for a loop. Judging by price action I see three different options. The first one which is also my primary, is this (c) wave is creating a 3-wave move higher to the target box, and we should start to move higher in a mini-5-wave move. The second is we're still in our (b) wave and about to make OML for a mini-c-wave to finish off...
Price has extended down a little further than anticipated in what I am calling wave iii. You may notice on the chart I have some turquoise labels. These are to show the ALT ways this could be counted. The difference is mostly academic as they both end at the same point. If this is the ideal count, then we should get a retrace higher tomorrow to the high $140's -...
Coinbase made some good progress today towards the target box. It appears to me we are in wave iii of C of (A). More specifically I think we're in wave 4 of iii and should have a little retrace before dropping again to the 1.382-1.618 ($218.14-$213.18) for 5 of iii before raising again for wave iv of C. MACD should start to raise towards the zero line if this is...
The chart pretty much speaks for itself. It looks like we are sub-dividing yet again. This drop from 05 April @ $253.96 is either another sub-division or it is the wave 1-2 of C forming with wave 3 of C of (C) coming soon to complete the larger A wave. The multiple boxes show the normal ending for the different sub-divisions with the red bordered box showing where...
Tesla started to fall last trading session but hasn't yet broken any key levels to the downside. For this reason, it could still possibly raise to the upper target box labeled c?. Rather it raises there or not, it is just a functionality of price movements, and I still expect it to drop to the lower box with a red border. There are two key levels I am watching to...
I added some fibs onto the chart now that we have some more price action to the downside. Notice how we came $0.06 cents from the 1.618 extension and then retraced? This is a sign that the first mini-A wave is most likely complete, and we should raise higher towards the box for the mini-B wave. We don't have to raise all the way into the box but that would be...
Still behaving as predicted. Notice price hit the 0.236 retracement fib to the cent today? This just reinforces the accuracy of the retracement tool and helps verify the count. I am counting that as our mini B wave which indicates we're now in the C wave of b. It appears we've carved out the first wave of that C wave thus far. I expect us to continue higher...
Today Rivian fell $0.19 cents below the 0.786 retracement fib and ended $0.01 cent above the 1.382 extension. Thankfully the 1.382 held up at least for now, and the price action we're seeing off of that bottom looks promising. We bottomed on positive divergence, had a strong raise higher thus far (almost 5%), and structure is looking good for that move higher....
As I said in my last post, we're past standard fibs and have extended to the downside in the micros. As for the larger pattern, the standard end for an ABC is between the 1.0-1.382 with possible extensions down to the 1.618 fib. At this time, I want to make things as simple as possible and concentrate on only the current pattern in front of us, so I have removed...
Today was not a good day for Rivian to say the least. Maybe, looking back with hindsight, I should've seen this coming. We never hit the 1.0 extension @ $13.07 and that is normally a must have for me. Given all the other signals Rivian was given I chose to chalk this up as one of the rare times the 1.0 wouldn't get hit. We had and still do have major positive...
Extensions are great and all for profits, but they can become difficult to count. Once they extend beyond normal fib lines it becomes structure only to guide your count. This can lead to misinterpretations, mislabeling, and at times confusing price action. The count you see in this chart is the best interpretation I can make of this chart at this time. There are...
Today I was stopped out @ $194 for about a $200 loss. That is the exact reason I don't shoot for the moon with every trade regardless of how much confidence I have. Price doesn't always do what I think it will. The fact that I was stopped out shows it is doing something other than what I had been predicting and when I'm unsure I get flat or close to it. All that...
If y'all remember, I had a turquoise micro abc pattern headed up to the box. This was suggesting the move up for C of (A) would be a 3-wave move. The reason for this is because c-waves can consist of either 3 or 5 wave moves. This is the exact pathway I believe price is taking. Due to this, I accumulated another 100 shares today in preparation for the upcoming...
There really isn't much new to add yet for a big analysis. We moved down in a 5-wave move described in my last post and proceeded to move higher again as predicted. We did NOT make a new high, although we raised slightly more than expected and then dropped once again. I expect price to make another low and drop to the low $490's before a small retrace higher...