Long term bull
Updated
Current wave 3 in progress twtr coincides with dji wave 5 extension of wave 5 of super cycle. Current covid inspired correction in intermediate cycle temporary. Intermediate cycle target to trend line $44.
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Order filled at 30.25 after what appears to be a completion of ABC correction, or wave 2 of intermediate cycle.Comment
Trade active
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Target at 43-47. Currently in wave 1 of wave 3.Comment
Wave 2 minor cycleComment
2 scenarios can play out moving forward: a continuation in the near term upward trend, which confirms twtr is in wave 2 of the minor cycle. Second scenario is twtr is currently in wave 2 of intermediate cycle, and a large ABC correction is still forming. I will be watching for a breakdown of the current pennant and will close out the trade accordingly as 28 could be retested.Comment
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Or....Comment
Pennant breaking to the upside, which confirms wave 2 of minor cycle and a continuation of the uptrend, especially if it closes on the high today. Imo, this is forecasting a strong earnings report in a few days as we are entering wave 3 of the minor of wave 3 of the intermediate cycle. This will cause a strong upward push into the mid-40's, possibly reaching upwards to 47.Comment
Price movement appears to be validating current wave count. What I believe is the most likely scenario:Comment
Possible 3rd wave extension in progress.Comment
Wave 2 of the extension has the ability to retrace all of wave 1 of the extension towards 33.50. It should not go lower than 33.50 if the wave count is correct.Comment
Patience.Comment
Hmmm... To sell or not to sell. Target reached. But, is 47 in the cards?Comment
This is proceeding nicely. I am getting mixed up on what degree wave we are currently on. The last dip we had could have been an intermediate wave 4 albeit a small one. That appears to be the case for the other stocks I am following, so I have changed accordingly with TWTR and am assuming that we are currently on wave 5. I do believe the target of 47 will be met and possibly more. At this level though, I will pull the sell trigger on any hiccup.Comment
Position closed at 47.Disclaimer
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