Well, I see more clear tendence today that 3th wave is in process, and Wave 1 and Wave 2 is cleary formed.
Then with a posible fibonacci proyection we cane see that 5th wave can finish in 2970 points, very near to 3000 points, New Historic.
But will be interesting see what happen with the correction of this new elliot wave formation.
Time to finish this complete...
Hi guys. I haven't watched any expert videos on youtube yet today so my mind is not affected. This is my modest and unclouded understanding of the recent action before I listen to Peter and Gerald and bury my head deep into the sand imho. Have a happy Saturday.
Look for the market to fall back towards the upper line of the orange tunnel. If it enters the orange tunnel, wait to add at when the market hits the support level of the orange tunnel. The red tunnel is a long term tunnel from 2009. Let's hope it doesn't enter the red tunnel.
This is my first stock trade idea. I will try to post at least one stock idea per week and at least one FX idea per week. I will briefly share my philosophy on stocks. We want to follow the what the general market is doing. I look to the S&P 500 as my general guide. Right now are in an uptrend, so we want all our stock trades to the long side. Next, we want to...
The S&P hits a bump in the road and has not lost a step once in 2017. Each dip is immediately filled as it presents an excellent opportunity to add to positions or make an entry into the market. Buying high, selling high.
I have no idea how much higher SPX goes but this presents an opportunity to grab a few points over the next few days.
Entry is based on...
Our preference: position bought above 2415,00 with targets at 2431,00 & 2436,00 in extension.
Alternative scenario: in break of 2415,00, a continuation of the drop will be envisageable with 2410,00 & 2404,00 in line of sight.
Comment: The RSI is mixed with a bullish bias.
Our preference: position bought above 2414,50 with targets at 2433,00 & 2442,00 in extension.
Alternative scenario: in break of 2414,50, a continuation of the drop will be envisageable with 2406,00 & 2397,00 in line of sight.
Comment: The RSI is mixed with a limited bullish bias.
Our preference: position bought above 2424,00 with targets at 2440,50 & 2450,00 in extension.
Alternative scenario: in break of 2424,00, a continuation of the drop will be envisageable with 2417,00 & 2404,00 in line of sight.
Comment: The RSI is mixed with a bullish bias.
With uncertainty in USD despite the possible next Fed rate hike soon, I'm betting on the idea that S&P500 (though it's most likely to consolidate and drop in the short-run), in the long run, it's highly likely that it can reach 2500 (psychological) level before reversing (or continue going up, depending on future sentiment and economic...
