Amazingpowerpatternguy

Amazingpowerpatternguy

Is this where we find out if the fear of missing it AFTER they already missed it emotional hot money crowd gets shaked and baked? Read on for the definition in the chart notes. Knowing what to watch out for is just as important as knowing what to watch for, especially when it comes to risk management. By always being aware of that it keeps you grounded and from...

Amazingpowerpatternguy

BIDU- What's it going to be? A retest of the highs for a double top? Or failure to make it there and instead breaks to the downside of the bear channel that's building and I stress building. Time will tell and I'll revisit all of these recent posts in the next week or so for tracking so feel free follow along to see what transpires.

Amazingpowerpatternguy

One look at TSLA shows no doubt that of a market leader with 5 big waves up and of this 5th wave 3 of the 5 thus far showing. Which IF IF IF it is going to follow the script of 5 waves of 5 ? we still need a 4th wave and then the final suck in the little guy wave to complete the pattern.

Amazingpowerpatternguy

If you are familiar with bear channels then the B wave is your ticket. Gotta love ABC's with bear channels clearly defined. Typically a downside break of the bear channel (B wave) in tandem with the indexes is a short sell trigger with a tight stop. Ought to be fun to watch and see if this one follows that script just like WFC did at the bottom of my page....

Amazingpowerpatternguy

As you can see overall within the uptrend channel this issue is currently in the middle of the road here. For those who buy support? we are not near it. Major support is the trend channel support, minor support is the smaller sideways line. For those who short bear channel breakdowns? Its all about an downside break of the bear channel with a tight stop.

Amazingpowerpatternguy

8-15 You tell me, are we closer to support or resistance here. Next question, for support buyers where is support. I ask because its all you need to know. Kinda reminds me of the NASDAQ 100 index here as well as TSLA

Amazingpowerpatternguy

If you are one who likes to buy support? Then one look at the chart shows we are nowhere near support via sideways nor trend channel support. Trade what you see is my motto.

Amazingpowerpatternguy

8-15 What's it going to be? A double top in the making or a bear channel break to the downside. IF it breaks the bear channel to the downside that is all you need to know. Keep it simple. A downside break would be a C wave lower of an ABC pullback off highs to? Gosh support? For informational and educational purposes only. These are not recommendations, Trade...

Amazingpowerpatternguy

Folks, for me when I start seeing a lot of recent market leaders starting to bearish patterns I start to take notice. Its all about trading what you see vs think hear or fear, at least for us chartists it is.

Amazingpowerpatternguy

If you are one who trades what they see then this is right up your alley. The First Thrust down off the peak is the A wave then comes snapback rally for the B wave which is what we are in now. Only time will tell if this issue breaks to the downside of the B wave bear channel.

Amazingpowerpatternguy

All ideas are for informational and educational purposes only. Trade at your own risk.

Amazingpowerpatternguy

Once an issue breaks to the downside (A) there comes a time where we get a snapback rally bear channel (trendlines, B). upon the completion of the B wave in most cases its bombs away to the downside.