I was watching a youtube video from my buddy Jerremy @reallifetrading and he mentioned CSX (video of analysis from April 6th) so I decided to check it out to see how the stock has moved compared to his opinion. Great pattern forming at new all time highs. I'm being loose with the stop in case it decides to retest the old all time high area AFTER it triggers....
Still thinking in short, but one last wave has to happen.
A long term cycle ended. Its correction is in progress. Developing a double combo. First a flat ABC followed by a fast bullish X wave to connect both corrections. All this actually doesn't really matter. What it does matter, is the second combo. It is a zigzag where we can see a 5 waves bear cycle that should be the A wave. We can expect a B wave with 3 wave that...
(Note: DOWT is no longer in a bear market after rallying the last two weeks) 2015 was suppose to be just another year of the epic bull market created by reckless central banking policies. Some Wall Street estimates for the S&P 500 were as high as 2,300. Me? I projected a contraction to 1,810 in mid-January. Whether or not the SPX will reach my target within the...
If CSX opens a bit below 32.71 consider using the Retest Gap strategy. Watch out for potential support at 31.59 To learn to trade this strategy for free go to www.RealLifeTrading.com
Entry above all EMA's and long term SMA's. Interesting double bottom