A lot of bad news. All the guidance saying lower. FED always has dovish comment. Overeacting rally from President's tweet.
No sign to short yet, but I think it is going to happen soon. And when it does, embrace for impact. I think it is going to be a big crash.
I want to go even further to say we can see 2000 S&P and 10000 Dow.
I might be terribly wrong, but ...
The market is dropping. All my previous ideas (SPY, IWM, DIA, .....) have been featuring this drop. However, BAC has a quite different chart compared to those so I guess I will post this one for reference, since we are having a big j confirmation red candle today.
I think we are on wave 5 down. the target is the red box. I will look for a finished setup 9 and ...
EEM just broke 50 day for the first time after quite a while.
I think the downside wave is finished, as wave 5 reached the 1.618 extension of wave 3 perfectly. If price in the next few days breaks above upside wave 1 I think it is a great time to go long, because wave 3 is usually the strongest and most impulsive wave.
The downside wave 5 also hit and bounced at ...
AMZN just completed an ABC corrective wave at a 9 and 13 combo and yearly pivot. The weekly chart also posted a 9 exhaustion signal as well.
This is either a bounce to a lower high, probably at 200 day, or a spike up for new ATH
Stay safe traders!
For some reason today I took out the chart on XLF and saw my wave projection which I outlined after the materialization of wave 3 and was very surprised. We have a very nice red 9 setup to lock in wave 4. Price is now heading to finish wave 5 at around $24.
I was about to re adjust the wave 4 to fit in the realistic price action but somehow felt that it is better ...
My plan for BTCUSD is: short any rally from here onward. If price goes up, add to short, price rallies, add to short.
Target is the 0.786 retracement level at ~4300. This level is also the D target of AB = CD in which AB is the move from 10k to 5k7.
The setup will be disqualified if and only if price moves above 6800.
I have a ultimate target at 2600 which is ...
Island doji candle, at monthly pivot R2, at around 0.618 retrace level ---> good short entry signal
Wave price projection is pretty low, so I would not rely on that setup yet. However I am trading this short until 276. Stop loss on chart.
Good luck trading!
we are in wave 3 of TD D-wave. Just took some of my profit at 22.99
The target for a textbook Wave 3 is at ~18.76.
However I will take my profit at the next Trend Factor, which is 21.72 which happens to be S2 monthly pivot.
Good luck trading! I will update this idea accordingly