This came to me in meditation, and this is a good thing, usually. The chart is ugly with no great trend, but this is what I'm given. I do technicals and then a "reading" with my pendulum and cards.
What I'm seeing:
- weekly timing just counting bars, and it appears to be in a weekly timing window.
- 200 EMA at $83.42, 50 week MA $82.45, weekly ATR trailing stop just above there and Symmetry support at $81.76
- I like the zig zag pattern down.
- The "reading" indicates we expect to dip below last week's low ($83.62) and reverse. I feel good about the message and the way it lines up with the technicals. I'm looking for a 5% gain this week ($86.55 from entry) and then I'm out.
- Entry ~ $82.43 near 50% retracement
- Stop is a daily close below $81.76 (sym. support)
What I'm seeing:
- weekly timing just counting bars, and it appears to be in a weekly timing window.
- 200 EMA at $83.42, 50 week MA $82.45, weekly ATR trailing stop just above there and Symmetry support at $81.76
- I like the zig zag pattern down.
- The "reading" indicates we expect to dip below last week's low ($83.62) and reverse. I feel good about the message and the way it lines up with the technicals. I'm looking for a 5% gain this week ($86.55 from entry) and then I'm out.
- Entry ~ $82.43 near 50% retracement
- Stop is a daily close below $81.76 (sym. support)
Comment:
I don't think this reaches my entry, so I would go long today (2/19) with a stop at $83.45