this is one of the harder counts but if you zoom into the 1hr chart its there. we are waiting for one more push down to the macro 50% fib retracement. it looks like the algos are targeting the 50% fib level and the smaller 1hr waves are lining up to meet that target. that means i believe we have 1 more push down to $161.
we have 5 waves down inside a pattern and it looks like we are forming a simple correction. we are putting in the A wave now
we all know what happened to bitcoin when it death crossed the .its going to be close here.if my pattern is correct, a death cross is imminent.
we have not formed daily divergence yet and as we trend below the 200 we must be very cautious going long.
ladder those buys and profits to minimize risk.
a bounce is coming, how strong will it be? put your stop just below the .50 fib level and wait it out, this is a after all. my profit taking will be close to the 200 on the . as we approach it i believe we will get rejected and head down but until we get more data that is not a sure thing.lets wait for more waves to count.i want you to take a look at the weekly chart. it doesnt look good for apple if the bulls dont step in soon
ill be playing the bounce for now though.im waiting for 4hr divergence to confirm the bounce, we dont have that yet either
be patient and wait for the trade to come to you
this doesnt pertain to the charts but i want to help people not get screwed over like my family did in 2008.
the overall u.s. economic outlook looks bleak. stocks and real estate are overbought.now is NOT the time to buy real estate.its a sellers market.buy cheap in 2010, sell high 2018.the world moving away from the dollar is putting a hurting on the u.s. economy. look at all the store and bank closures. layoffs everywhere you look.
THE PROBLEM: if we stop printing money the entire system falls apart, if we continue to print we will see the debt keep climbing and rising.what happens when no one wants to buy us debt and interest rates at almost zero? a nightmare.if we try and raise interest rates and the economy cant handle it we go into recession because we cant afford it.
historically when fiat goes bad gold and silver surge almost overnight.look at 2008 as one example of many.will bitcoin do the same? its a deflationary asset, i dont see why not. time will tell on that one though.
im buying real gold silver and cryptocurrencies. no fiat money lasts forever and the dollar is no exception to this historical fact. dont take my word for all this. google it :)
please whatever you do, DONT follow the advise of the guys on cnn and fox. you almost have to do the opposite. they work for the banks and theyr'e here to take your money. seek out guys that tell you the truth.
i recommend THEMONEYGPS on youtube.he analyzes the economic charts for you in short vids.
PHILAKONE on youtube. he has a cheap $200 course that will teach you everything you need to become a successful trader.thats who taught me.
good luck and happy trading!