jdemunter

jdemunter

Time to get into those tesla shorts

jdemunter

Tesla is in a very nice looking triangle with nice fibonacci retracements of the waves B, C and D, where wave E is almost finished. Look for the final run higher, probably on earnings or a little bit before. After that, the Tesla party is over and price will go down.

jdemunter

The last count was very bullish and was looking for a wave 3. This did not happen and the count was invalidated. The first adjustment in counting is that price wasn't finished with wave 2(circle) yet. In this count i am still looking for a wave 3(circle) up. Perhaps Biden will launch this rocket. However, looking at how price has been in a contracting range for...

jdemunter Updated 

Today a wave 3 up is expected. If 839 is broken alternative counts need to be looked at. The alternative counts give small problems and are therefore not preferred. But let's wait out todays price action first.

jdemunter

Price went up nicely from the wave IV low and should continue in this last wave up.

jdemunter

Wave IV went lower than expected, but the count is still possible. As noted on the chart, there are a couple of reasons for wave IV support at this level. Keep in mind that on the larger timeframe, price is at the end of a final wave 5, so the eventual direction of the price is down. A break of the wave I high invalidates the possibility of a wave V. Interesting...

jdemunter

Wave 5 got much higher than i expected but remains in a final push higher. Going down to the 15 min chart, price seems ready to top this week. Looking at the fibonacci levels starting at the end of the triangle, wave III was around 261.8% of wave I. wave V will most likely be around 161.8% of wave I which would put the top around 960 but can't rule out a touch of...

jdemunter

Update on the longer term EW count. Price is inside a final wave 5. Question is if this final wave higher is a wave 1 of (V) with a final burst higher to come or a complete (V), where price will drop very close from the current price. Alternative count has an ending diagonal forming.

jdemunter

A Clear 5 waves has ended. 542 is the first target to confirm a downtrend has started. Look for corrective waves lower.

jdemunter

Usd/Cad is looking like it is ready to go lower. The pattern is clearly corrective and lower prices are coming. Beware of a slight possibility of one more run higher. Usd/Cad has shown in the past that it likes to push the corrective pattern with one extra wave ( wave Z ).

jdemunter

Looks like gold will have a bad year when it starts breaking down from the triangle structure it is in now.

jdemunter

Looking for oil to move up to complete a corrective pattern around 64$.

jdemunter

The triangle count has been invalidated with the break of decembers '15 low of 1.05168. But the structure is still corrective, which means the price action from 1.17 is a big wave B or X. Wait for a break of 1.0690 for confirmation.

jdemunter

There's a possible triangle on crude oil where wave e is starting now, invalidation is at the wave (b) high.

jdemunter

Expecting the downtrend to continue lower and test 107.

jdemunter

The euro fell deeper than I expected as the latest corrective wave transformed into a bigger one. I made small adjustments to the count but the idea stays the same for now. Only a break below 1.0516 will change the count even more. The reasons that I believe this is still a bullish triangle is that price is still in the range from early 2015 and wave C is the...

jdemunter

From the 1.2460 low, price has been choppy with lots of overlapping waves. This is corrective price action. The corrective pattern here is a double three where the first (w) and third (y) wave are double threes aswell. The most common price relations between waves W and Y inside double three are 100% or 76.4%. In this case, both waves Y on 2 levels have the same...

jdemunter

I see current price action as a last leg in a double three correction. Price should dip below 1.0848 and reverse higher. In the previous chart i showed the pattern complete, but the pattern transformed into a bigger corrective wave with another leg. Nothing changed to the bigger picutre.