myceliium

myceliium

Just having some forecasting fun with fibs + EW theory as usual Seems like we are in either a complex correction or a new bullish trend Leaning towards correction for SPY Let's see how it plays out

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This rally looks overextended and has continued amazingly despite the overall market downturn but I believe a selloff is on the way. TWTR has had several catalysts that have continued to drive the price up this week but that momentum may dry up next week without any more news. While I am currently in a bearish position I do feel as though the stock could attempt...

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fibwaveForecast: Just reposting my chart with updated fibs...

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fibwaveForecast: Just for fun. Been looking at SPY recent selloff as a 5-3-5 correction but decided to simplify it to a single ABC on the 4HR. Let's see how it plays out.

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quick idea: While I am buried on the market overall right now, I am not bearish on everything. I do believe there are some gems that can be found that could be poised to rally even when the market is in a downturn. I think SDC may be one of these stocks. It is at the bottom of a channel it has strongly respected and no I won't get into it I have seen some...

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MMTW about to cross the midpoint (50% stocks below 20-period MA). Check out the linked idea for significance. Keeping eyes on this for now

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I've been trying to work on my waves cycles with the hopes of getting more accurate predictions of price movement. I have created several of these charts as private ideas but I've decided to start sharing some of them publicly. Obviously, predicting price movements even with Elliott wave theory is kind of like a shot in the dark so I don't expect these lines to...

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It looks like many people have already seen the possible set up that is happening in BIGC. At the moment it looks as though the price has corrected from the recent high in January and is preparing for the final impulse with movement which might actually be the beginning of a larger bull trend. So far it seems as though several companies have experienced sharps...

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Posting this publicly as part of an ongoing challenge to myself to improve in forecasting using Elliot Wave principles in conjunction with some other tools I've picked up along the way. These are not trading ideas - just having a little fun with charting how I see some interesting moves playing out

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Since the market seems to be making considerably newer highs weekly, investors are starting to look into options for hedging their current positions and UVXY seems to be the place many eyes have landed. Though this volatility index is a depreciating asset purchasing shares of UVXY in a time when a correction may be imminent can lead to potentially exponential...

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quick idea: This is a long-term trade based on the fact that oil is coming out of a multi year bear market. I believe multiple companies in the sector will benefit (see: CVX, USO etc) but ET caught my eye for some reason. Looks like a first + second wave completion which could signal a rally on the way. Keeping my eye on this one for now

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Looking at the weekly it appears that SE is in overbought territory and will likely correct soon. There is clearly bearish divergence on the weekly chart but RSI has not dipped below 70 and closed there yet - this is the point to watch for confirmation of the trend reversal. Also, the weekly candle is sitting above the upper band of the Bollinger bands which is...

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Well I am typically bullish on SPOT I do believe market wind correction is on the way in Spotify will not be exempt. Price appears to have reached a couple different points of resistance and it is likely that price will retreat to the central 1/1 Gann angle on the chart. Also, many other signals I typically look for are present - bearish div on multiple time...

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quick idea: SNAP has been on an amazing rally - however - I think the time has come for the fun to end. When looking for the most egregious examples of high valuation in the market might now, snap is definitely up there. After counting waves several times I came to the conclusion that SNAP is like many other tickers on the market near in a fifth wave...

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quickPost: NYSE:JMIA JMIA may be reaching completion of its recent impulse movement. Just took a quick look so this one may need some polishing

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Just reposting this idea with a closer look at the charts since the last was zoomed out considerable making the levels and candles I mentioned somewhat hard to see.

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After a pretty incredible run after what I would consider to be uncompelling earnings, TWTR appears to have formed a spinning top/doji on the weekly (left chart). This is usually indicative of a price reversal after strong move. All of this also falls in line with my wave count and the price is currently sitting below an important Gann angle that will provide...

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Price has been consolidated within the channel after earnings. They want to sell off but the price quickly rebounded to previous resistance ($21.50) and has now held at that level for quite some time. This also coincides with what might be the completion of the fourth wave in a larger cycle. If this is correct price still has one more leg up and I could take FEYE...