warrenbudget

warrenbudget

GREETINGS! I've made several posts on Rolls Royce and Raytheon the past few months. Ultimately, we remain bullish for another leg up, but the back-and-forth price action has been exhausting. Why are we bullish? Well, my strategies involve a simplistic basis of eliot wave theory which shows airlines and major indices have another leg, but I also consider other...

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This chart has been fairly predictable for the past year, however as we start to shape up the larger degree wave count, I've decided to alter this from an expanding diagonal to a typical impulse. The main thing shaping this is the action for wave 2 which appears to be a flat. Under this premise, we have subdivision of wave 3 underway. It appears to be an expanded...

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This is a clean wedge with a favorable RR for a short term trade. We are seeing similar setups on other SPACS. ie. QS backtesting the wedge breakout.

warrenbudget Updated 

This post is to demonstrate a variety of trading techniques and relationships amongst similar patterns. Although this is focused on RYCEY, I provide reference to RTX as a representation of airline engine manufacturing and reference the 2018 BTC consolidation. Lately I've been studying the Wyckoff Distribution and found eerie similarities that are worth sharing. ...

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Airlines have had quite the run up since the low. Warren Buffet is way past his prime. BUT WTF IS THIS PRICE ACTION!? I've done a fair amount of "research" into the numbers here and here's my best attempt to make sense of it. We all know the COVID correction was the E wave of a triangle. That was obvious. You see it on every major index. Triangles happen in wave...

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Contrary to what the loudest Karp fanboy is saying, this stock (and other similar ones... QS, SPCE, CCIV) are still correcting. But there's plenty of opportunity to make GAINS. I show a clear 5 waves down which would be completion of A to the 786 retracement. You broke divergence which is more evidence of a C leg down. Clear EW subdivision shown. Right here we...

warrenbudget Updated 

May see a deeper corrective wave of B of 5 before continuing up. Targeting about $37 as the 1:1 of the ABC of B and good level by vpvr. Then - Looking for a continuation of the 3-3-3-3-3 pattern for an expanding diagonal. Looking for at least $46 price target for w5>w3

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Alright, yeah, yeah, yeah Yeah believe in yourself As 2 CHAINZ said - believe in yourself! Believe in the Rolls. Finally we look poised to breakout to those $2 targets. Riding this breakout zone for too long! We are all aware of the building divergence on the charts, but the sellers look gassed. ABC seems complete, for the corrective wave B. I am holding a...

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wimpy play here, but pointing out the obvious compression after the exponential run up. We tagged the long term trendline and are bouncing in a corrective ABC structure. 2 potential target zones identified depending on the size of this bounce. Using other SPACs, Us major indices, and DXY as a proxy for this play, I actually favor the higher targets near...

warrenbudget Updated 

Looks to be following a flat wave B correction following a very bullish leading expanding diagonal from the huge wedge breakout. targetting 1:1-1.27 C extension to complete this (assuming its corrective up). I dont think the overall correction is over, so that's my primary theory which is conservative, defined, and modest for a 15% gain. I take high percentage...

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See you've grown up and learned to be a degenerate just like your pops. not bad. Give your dad some smokes, it's story time. QS is one of the biggest shitshows since that time your mother got kicked out of Kokomo's on that Havasu trip. I know you just read the Intelligent Investor and want to force feed some fundamentals or facts about batteries to me. Save it...

warrenbudget

It's clear TSLA is correcting after a historic run. things dont go vertical forever. Are you new here? I have it in wave 4 of C Anticipating a complex correction by the rule of alternation, so wave 4 still has some time to play out completely. It's clear wave B of the larger ABC is complete. wave C projected to the 1:1 of A to B. given that wave 1 of C projection...

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Chart shows the fib extensions for clean ABC and subdivision of C. I have us going up a 3rd wave of the 3rd wave with the 1.618 extension of 1 to 2 at $58. The biggest hurdle will be breaking out of this channel. If we can't break out of the channel, looking for IPO range prices (think BTC 2018 correction pattern for a triangle).

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This has been a stock that has hilarious rocketed to over $100. I actually had a coworker tell me about this stock, battery hopes, rocketship emojis, and all that. He bought at $100 and sold at $45 today. Hilarious. We don't get attached to stocks here. We are traders. And boy this setup was beautiful. Trading the B waves of exponential run ups are insane, and...

warrenbudget

High probability trade

warrenbudget

Updated count on YETI since by B wave count was wrong. Overshot the 1.272 for wave 3, indicating that the 1.618 will likely be reached. This puts us at $38.50 range to complete the 5 waves up, confluence by 2 pitchforks and 3 major fib extensions. Looking for a retracement to $34 before going long for this move. Preparing to short above $36 and continue...

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I called the top on my previous YETI post on a 2.0 extension. Currently watching this count to initiate a wave 3 down. Overlayed EW theory and lines up nice with the IPO share unlocking. Look for one more roll upwards to finish sub-wave 5 of wave 2. Potential for 50% drop on wave 3 alone. Purchasing mid/late May puts otm sometime next week if the wave 5 of 2...

warrenbudget Updated 

OPTIONS PLAY: LONG PUTS or sell calls. Entry: $108.97-$110.00 Target: $90. Keep an eye on the sub wave 1-2 extension at $110 at 3.0. A blow past the green zone will have to reconsider the count. Puts 2 months out, cant go tits up. This is a close-up of the larger wave 3, see my long term chart for this. The EW count suggests we are at the top here and about to...