Not sure we will see a series of ones and twos like the first 5 wave up. But the long term resistance works pretty well as a support now.
Not entirely sure which side it will break in the end. Watch out.
Shorted this one at 1K but it did not fall at the speed expected. Guess it is following a triangle wave (4). Wait to see its development.
If this is correct, we need to see immediate price action.
Seems like I've pulled the trigger a bit earlier. I will give it another try. Breaking the light blue line would be the first meaningful confirmation.
This looks clear to me. Should be a good opportunity to long.
The price movements since July 2015 look corrective to me. So my preferred count is shown in the chart. I personally think the yellow area could be the potential end of correction. There might be a great opportunity with tight stops but need to see the price action first. Watch it closely. Btw, if I am right, the bottom should be in within March 2017.
Think the banks are heading south soon. Also a five wave up is done at a minimum level. This is similar to the rates wave count.
It looks like BABA has completed a five wave up. I have to confess that this wave count is not so nice and neat. But today's big bearish engulfing candle makes me feel this is still likely. Plan to trade the C wave for now and see if it can find support near the larger channel.
Even though it has almost touched the top line but at the daily level, 5 wave is not done yet.
I don't think it's bad timing to enter today. But given the low volatility and my holding period, I would like to take the risk and wait for a little longer.
It looks like we are in the 4th of C wave tracing out an ending diagonal. Watch for $73-$74 for a long position.
Seems like a pull back is unfolding. Possibly nearly 33ish. Wait for a better entry and target to $41.5.
Based on the slope of the first down wave, there must be another one coming soon. Waiting for a better entry.
We absolutely see buying here. Even though a tiny new low is possible, but is not required.