Today was a good start but nothing is confirmed yet. We raised strong early in the day and then spent the remainder meandering down. I had mentioned in a comment that we needed to watch the 0.618 fib @ $16.65 as a possible resistance level. Well, as you can see on the 3min chart at the bottom, we smacked into it and then got rejected. I was hoping we would drop no...
With the price action we're seeing today and a request from a follower, I wanted to update y'all on where AMD is in the count. As you can tell we are currently on our iii of 3 of v of ((1)). The strength since the Oct lows of last year are a testament that we are in fact in a iii of 3. We have literally almost doubled since that time. If this thing is to continue...
Meta has just barely pushed out of the top of my target box. This is still the area I expect it to end and isn't entirely surprising as I am counting this as the wave ((1)) of III. Wave 3's of any degree are very strong and the most likely wave to extend beyond standard fibs. This high is on neg div and should be concluding soon. Once it finally does top, the next...
As much as I want this thing to have bottomed, it may need another low to make first. The reason being is when you zoom out to the bigger picture, look at the descent from the 26 Dec high. It has been a very strong one-sided move. This is very typical of C waves. Not to mention the MACD made its lowest low on 05 Oct. The two counts you see here are very close to...
Not really much to add from my previous posts. We raised higher as expected and I am still waiting for us to reach the 0.618 retracement fib around the $192 area. Depending on what happens tomorrow, I will possibly buy those couple puts I held off on Friday. I would like to see a more drawn-out wave 4 but we shall see what price has in mind. I would also like to...
Looking at MACD and the structure price has carved out, the bottom appears to be in. We still don't have confirmation though. That comes once we make a new high above $187.97. At this time, we have positive divergence not just on the micros but all the way up to the 4HR chart with the daily starting to weaken signaling a change in trend. Also, we bounced off the...
Just as with Rivian, I went back through Tesla and tried to look at it with fresh eyes. There are a few things that stick out to me. Before I start though you may notice I have a few different colored labels ion the chart. This is due to the many possible paths Tesla has in front of it. In the bottom right of the chart I have a list of what the colors reference...
Rivian has been very frustrating as of late. It just seems it doesn't want to cooperate. The question I started asking myself today; Is this count correct? Technically speaking nothing is invalidated as wave 2's can retrace up to 99.9% of wave 1 and still be valid. Thats not something which is common though, especially in a wave 3 of ANY degree. Today we came 0.24...
As the title states, we entered the target box today. Structurally this thing could be considered complete, but I feel it has a little more to raise before starting our next trek down for wave c. Ideally, I want to see us hit the low $190 area but with how low mini-B went I don't know if we will make it that high or not. This could easily turn out to be a flat...
On the chart you can see we are at the top of my target box. We are also on some severe negative divergence. We could still raise a little, but this thing is cooked. It should start its trek lower soon for wave ((2)) of III. The duration of that will most likely take a long time, as in the rest of the year at a minimum. I don't predict time duration, but wave II...
Today we hit right under the $140 area that I was calling for and then got rejected. According to my count this is the wave 5 of c of (4). As stated earlier I bought a measly 10 shares at about $125. I then set my stop limit @ $114.41 as this count becomes invalidated at that point. Notice how the 0.5 retracement fib is @ $114.39? Do you remember why that is...
In my last post I said I thought that Coinbase should be getting another low ideally. This was due to a few reasons, but it appears we may just get that low soon as this little retrace appears corrective. Ideally, we need a mini-c wave higher to the $140 area to finish out this mini-wave 4. We would then drop in wave 5 of c towards the 1.0 @ $124.73. Quite a few...
In my last post I alluded to the fact the B wave may not be done. Looks as if it had OML to give us before raising for wave C of b. It appears as if C started yesterday, and we are now on our way up to finish b. Due to how low the B wave dropped though; it creates the possibility price could carve out a flat abc pattern. For this reason, I have extended the target...
Well, today was a doozy to say the least. Last night I mentioned the bullish hammer for the daily candle, and believe it or not, we formed a bullish red candle today. They are both called hammers and often present this way. I'm not saying this to try and bolster my bullish stance on Rivian. A simple google search of bullish green hammer or bullish red hammer will...
Did we finally bottom in this move down? Is it just the a wave or the entire abc? These are the questions I find myself asking this morning. I think this has all been wave a as I have said in previous posts due to MACD, but we don't have confirmation yet. We have hit with-in the target box, hit the 1.0 fib, and made a new low on positive divergence. These are all...
I'm going to be busy the rest of today and all tomorrow so I wanted to get this out to you now. The main chart I have on display is the daily showing where we are headed next for our wave 3 of (5). Another reason I wanted to show the daily was for the candle that formed today. Again, I don't subscribe to this type of analysis, but knowing different forms of...
In my last post I stated "Should we continue down for the white count I don't want MACD to cross below that red line under any circumstances. If it does, then it starts to make the orange count much more likely." Well, we did in fact breach that red line drawn on MACD. Not by much, but we did in fact cross it. This tells me all the price action from 28 Dec has...
As I mentioned in my last update, we very well could be in an ending diagonal. Looking at the price action from last week, the descent was very choppy and overlapping. Generally speaking, ED's are 5-wave motive waves, made up of 3-wave moves. Wave 3's are usually more exaggerated compared to the rest of the motive wave, but there aren't really any rules governing...