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 being said, I believe today gave some very important clues. I want you to direct your attention towards the MACD. Notice how it made a low on 25 Jan? This is clue #1. This whole time I have been alluding to the fact that we never hit the 1.0 fib extension for A=C. There is a reason for that and clue#2. The first move up off the 05 Feb low was a VERY sloppy 5-wave move that I complained about several times lol, that's clue #3. Then today we got the big clue and overlapped not only the micro-wave i, but also the wave 1 high. That was clue #4.
What do all these clues allude to? We're still in a corrective structure! If I am correct, we should make at least OML into the box labeled b before raising to the box labeled c of B to the $230-$245 area. After that, I believe we head lower again and finally hit that elusive 1.0 extension @ $171.03 minimum.
Once we do hit the 1.0 if price stays above $151.72 then I will label it wave (2). However, if price breaches that low than I will label it wave ((2)). This is indicated by the turquoise ((2)) within the larger target box, and the turquoise fib retracement lines are associated with this alternative count. It will be a while before we get clarity between these two counts, but nonetheless it is important to track both of them.
If we drop back into the low $180's, I may try to go long another 20 shares with a stop of $175 or so. IF I go long, I will make an update on here.
Don't forget, beginning February 23rd (this Friday), I will be dramatically changing my posting schedule here on trading view. My last regular post / update will be on that day.
All that being said, I believe today gave some very important clues. I want you to direct your attention towards the MACD. Notice how it made a low on 25 Jan? This is clue #1. This whole time I have been alluding to the fact that we never hit the 1.0 fib extension for A=C. There is a reason for that and clue#2. The first move up off the 05 Feb low was a VERY sloppy 5-wave move that I complained about several times lol, that's clue #3. Then today we got the big clue and overlapped not only the micro-wave i, but also the wave 1 high. That was clue #4.
What do all these clues allude to? We're still in a corrective structure! If I am correct, we should make at least OML into the box labeled b before raising to the box labeled c of B to the $230-$245 area. After that, I believe we head lower again and finally hit that elusive 1.0 extension @ $171.03 minimum.
Once we do hit the 1.0 if price stays above $151.72 then I will label it wave (2). However, if price breaches that low than I will label it wave ((2)). This is indicated by the turquoise ((2)) within the larger target box, and the turquoise fib retracement lines are associated with this alternative count. It will be a while before we get clarity between these two counts, but nonetheless it is important to track both of them.
If we drop back into the low $180's, I may try to go long another 20 shares with a stop of $175 or so. IF I go long, I will make an update on here.
Don't forget, beginning February 23rd (this Friday), I will be dramatically changing my posting schedule here on trading view. My last regular post / update will be on that day.
Comment:
Not much to add today. Price is moving according to this posts predictions. I'll make a new post tomorrow evening.
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Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler