Rivian's structure looks much like Tesla's. The difference between the two, I still feel Tesla is within a larger bull count, whereas I feel Rivian is within a larger corrective count. This makes me much stricter on the structure Tesla carves out vs Rivian. Rivian's next move higher will be that of an A wave which can appear as a 3 or 5 wave move. This can appear...
Last night I mentioned it appeared Tesla was in an ED. I then posted what I wanted to see it do if that was the optimal count. Well, today it did exactly as I said it would. This makes it very likely this price action is an ED being carved out to finish the c of (C) of ((2)). We have positive divergence on the larger time frames, but today we made a new low on the...
As always, I have been tracking an ALT count along with my primary. After the release / reaction to the earnings report, it makes my ALT much more likely than before. The main reason I say this is due to MACD. With the recent strength of the rise in price, it caused MACD to make a new high. It hasn't breached the previous high MACD made during wave III, but it did...
Today confirmed my ALT count which suggested we needed another low to finish out this move down. When I started looking at it tonight, after analyzing Tesla and Rivian, I spotted what I believe to be an ED that just finished. If this is the case, then that means we made a bottom today in Coinbase! We're in the target box, hit the 1.236 (common end point for...
Not really much new data as we have been chopping around this same are for over a week now. Starting at the 25 Jan low, we made a VERY sloppy 5 wave move higher. This seems more likely an abc move higher for the wave 4 that I called for. Since the 30 Jan high, we have been chopping lower in corrective structure. This makes me think we could very well be in an ED....
As the title suggests, I wanted to zoom out and give everyone a clearer picture of the larger count. Clearly by the price action we're seeing, structure is still in its wave ((3)). Wave (2) & (4) appear to have alternation, which is very important in a healthy impulsive count. Looking at the daily MACD, it appears to be curling up for the start of this wave (5),...
AMD has been on a tear for a while now. This recent little retrace we had I am counting as wave iv of 3 of (3). In the wave iii of 3 of (3), price went from $93.12 all the way to $184.92 in 3 months. That is the strength of 3's when they get stacked like they were. To say this thing is extended is an understatement. I anticipate us to raise to the $190's before...
Apple looks as if it has topped in the ABC pattern as predicted. There is the possibility this is an impulsive move higher. If that were the case, then my ALT (turquoise) would be the ideal count. MACD never made a new high, and it dropped very hard and fast for a wave 4. These reasons help to re-enforce my thoughts this has been corrective. Next I want to see us...
As you can see from the chart, we just barely poked above my target box / the 1.618 extension which is a very common endpoint for an ABC pattern. Another thing that gives me confidence we are in fact in a corrective pattern, MACD made its high during the A wave you see on the left side of the chart. If this was impulsive, we should have made a new high on MACD by...
The strength Rivian has been showing as of late is promising. However, price still appears corrective. Also, we still didn't breach the prior high the MACD made on 22 Jan. Price has been overlapping and didn't breach the 23 Jan high. These mentions I make of MACD / price aren't required yet with this count but are signals Rivian will most likely move lower before...
Today was choppy yet again. Does that strike you as something you would see in an impulsive motive wave? If you answered yes, then you should go back and study the difference between corrective & impulsive patterns. Not saying LDs are impossible...but in a wave 3? That just isn't something I'm ready to get behind. Not to mention we still don't have positive...
In my last post I stated, "The next primary line of resistance is the 1.618 extension @ $489.95. I expect some type of reaction there regardless of the strength it shows". When we hit that fib, we got some choppy price action but ultimately were able to push through it. The next line of resistance we look towards is the 1.786 @ $501.99. This would fare well with...
Not spending a lot of time on this post as I have been very clear on my expectations with Coinbase. Looking at the 3min MACD, the choppiness of price action, and the structure that has been carved out since the 19 Jan low my ALT seems ideal. So, from here I expect us to drop to the yellow box before lifting off. There is a slim possibility the bottom has already...
In my comment last night, I stated "we shouldn't breach the 0.5 retracement @ $195.74". Well, we just barely breached that and hit $196.35 before dropping hard. People can say it was due to the judge striking down Elon's payment package, but why would that hurt the stock? That literally saved/made it to where Elon wasn't given $55 billion dollars of free Tesla...
Wave ((1)) of III is extending which isn't too surprising. As said before, this is a wave 3 and those typically extend and are the strongest waves within an impulsive count. We met some resistance around the 0.786 extension that a mentioned in a prior post. This to me is starting to look like an ED and should be concluding soon. When it does finally conclude it...
Nothing has changed from last week's Coinbase post. I feel this is most likely corrective action and we have one more slight low to make. If this is the case, then we need to make another slight high to finish this c wave before making that slight low. Once this is complete, we then take off for our next push higher. The next target is $190 at the minimum. If...
There isn't much to add from my last post. Price action since Thursday of last week seems corrective to me and so I am counting this as our final wave iv of 5 of C of (B). We could have technically bottomed already but the most recent price action doesn't suggest that to me. If we do get one more low, I would like it to ideally be fast and then a strong move...
There isn't much to add to my last Tesla post either. We have been in what appears to be a corrective move as predicted in my last post. I still feel we have a couple 4-5's left to carve out before we bottom and start to head up again. As you can see by my box, we could easily drop to the 1.236 @ $154.94, and it be considered a "standard" end point for this...