So in addition to the pattern, you have approaching 10 level again. At this level you have candle sticks - , , and yesterday a . The director just bought some stock, not much, hey. And they just announced the Google thing. And then there is the Count, which doesn't break any rules and meets many of the guidlelines for wave formation. Finally, this is an area of support that has held since the summer of 2015.
So everyone says it's going down, but all signs point up. This is the time to buy, and sadly when most people sell and get out. Am I talking myself into staying in this trade? Perhaps, but my strategy is clipping along at 83% success, and one thing I know is - you must EXECUTE if your system says to. can't listen to the hand wringers and stock twits. If you're wrong, you are wrong, can't win em all.
Look, for at least a move to the C point - the 61.8 fib level 7$. We could see $9 - the 1.618 level and a target for a wave III move.
BUY at $5.79.....This is the EXACT AB=CD point and guess what? This is within a few points of the 1.618 extension, and also is occurring near a level of support summer of 2106. If we get a close below this level then it very well not be over, and it could go to 5.35, ( 1.27 x AB ) and the low created by the hammer back in August of 2016.
That's the technical bottom line.
Does Google partner with slouch? Why is the director buying? Why are the big boys and pundits saying this is such a bad stock?
Looks like we are gettig ready to complete the 5th wave up of the samller impulse. That's a take porfits signal for the weak men. ;-)
Target $6.40 and take somemoff the table if you still doubt, Probably 6.60 maybe even 7 before weeks end.
Long at 6.35
Thanks for the reply!
The economy has slowed my business down. So, I had to find another means of supplementing lost income. I'm still learning myself. However, I've been focusing a bit more on Wyckoff's methods, FIB's and now BAT's. @Alexander_Nikitin is a great source for BAT's. I've also been watching a lot of Michael Huddleston's videos. Which see: http://theinnercircletrader.com/Tutorials.htm You will find Michael's videos VERY informative.
Here is Michael's twitter account: https://twitter.com/ICT_MHuddleston
A good book on Wyckoff's methods but applied in a modern way by David H. Weis is here: https://www.amazon.com/gp/product/0470487801/ref=oh_aui_detailpage_o04_s00?ie=UTF8&psc=1
Nothing like reading Wyckoff's own books though. Here is a list of his books on Amazon: https://www.amazon.com/s/ref=nb_sb_noss_2?url=search-alias%3Dstripbooks&field-keywords=Richard+D.+Wyckoff
Wyckoff, is truly a legend in my opinion.
I too am still learning. The more I learn, the more I find I need to learn... haha. ;)
Anyway, you have me as a follower for sure. Maybe all of us can learn from one another. I've been talking about getting into FOREX trading for quite some time but haven't taken the plunge yet. I'm in the middle of doing taxes for my business . I'm certainly going to dive into FOREX once the taxes are completed .
Take care, Sir, and have a great weekend.