$ATVI has been upgraded by many analysts in the last few days, so I decided to apply my learning to this equity.
Until the market structure is further revealed I am assuming a Flat Correction.
In which case, leg A of a higher degree correction has completed. And, we have exceeded a 50% Retracement into Wave C of B.
A 100% Extension of Wave A of B would terminate Wave C of B at 88.48.
Disclaimer: I have been trading in the markets for about a year. After several months of charting various instruments, my eyes have gotten trained to recognize different candle formation patterns like Bear & Bull Flags, Head & Shoulders, and others. This was good. But, not enough for me to accurately forecast the next following moves and market structure after these patterns had been completed.
For me my next evolution as a Trader came with a more fine-tuned approach to Market Structure, The Elliott Wave Theory. There are two books that were recommended to me as I started this journey.
1. Elliott Wave Principle: Key to Market Behavior by Robert Prechter and A. J. Frost, www.elliottwave.com/...liott-Wave-principle
2. Visual Guide to Elliott Wave Trading by Wayne Gorman and Jeffrey Kennedy, www.elliottwave.com/...Elliott-Wave-Trading
I am still learning. I accept the fact that my analysis may be wrong. But, these are my charts as I continue my journey. I am open to all feedback on my analysis as I continue to improve.
Until the market structure is further revealed I am assuming a Flat Correction.
In which case, leg A of a higher degree correction has completed. And, we have exceeded a 50% Retracement into Wave C of B.
A 100% Extension of Wave A of B would terminate Wave C of B at 88.48.
Disclaimer: I have been trading in the markets for about a year. After several months of charting various instruments, my eyes have gotten trained to recognize different candle formation patterns like Bear & Bull Flags, Head & Shoulders, and others. This was good. But, not enough for me to accurately forecast the next following moves and market structure after these patterns had been completed.
For me my next evolution as a Trader came with a more fine-tuned approach to Market Structure, The Elliott Wave Theory. There are two books that were recommended to me as I started this journey.
1. Elliott Wave Principle: Key to Market Behavior by Robert Prechter and A. J. Frost, www.elliottwave.com/...liott-Wave-principle
2. Visual Guide to Elliott Wave Trading by Wayne Gorman and Jeffrey Kennedy, www.elliottwave.com/...Elliott-Wave-Trading
I am still learning. I accept the fact that my analysis may be wrong. But, these are my charts as I continue my journey. I am open to all feedback on my analysis as I continue to improve.