k34733

k34733

My last post also described a possible bull flag that picked out a top that is very close to where we currently are sitting. It took a little longer to get there than I anticipated, but that is ok. We were able to launch off of the 50 EMA and are now sitting on the underside of the 100 EMA. I think if we can break out from the 100 EMA we can make a climb up to...

k34733

Lets first make the assumption that we are currently in a bull flag that has been created by a larger green candle with some volume that was rejected off of the 50 EMA. If we travel through the flag and build up some momentum, the bulls may be able to break above the 50 EMA resistance. If that happens, I am looking for a movement up around the 1.41 fib extension....

k34733

It looks like the bulls are putting up a fight to try and break out of the current bear market (still have a ways to go). Even with the low volume they have been able to make up some ground in the last 24 hours. The following 24-48 hours will be telling. At the moment, we are sitting above the 10, 50, 100, and 200 EMAs; I hope they can provide support for the next...

k34733

I am very new to TA. Any information should be for educational use only. This is an update to an idea I posted last night. I have adjusted the a-b-c wave. The (a) is now extended lower. I have also adjusted the angles of the of rays a-b and b-c. I have also drawn in what could be the forming of a head and shoulders. It looks like currently we are fighting...

k34733

I am new to TA so this information is just for educational use. Notice the previous structure and the green dotted trend line around 11780. I have drawn a bullish channel that we are currently traveling through. I tried to pick out a possible Elliot Wave. The corrective wave (ii) seems to be close to the fib retracement of wave (i) at the level of 0.236. Wave...