We seem to have finished a Triangle count here so can look for the move higher to be equal to wave (i) which gives us a potential target of 20219 . Of course it can go higher and I'd love to see it go higher but 20k is already a great target. If price goes above 19340 , it should continue to go higher towards the noted Fib clusters. Same view goes for the...
This one has been pretty good to me and my subsribers us althought our first buy in was stopped out for a tiny loss but we were able to get in again and got some nice profits out of it. Now we're in a fourth wave so this could and probably will continue some more sideways if it stops at support. So, building longs slowly is the way to go imo but only if we see...
This is the SPY ETF but the count is the same for SPX too. I don't know if we're in a 3 waves correction here or in a 1,2 situation. - If price starts to go lower but in corrective fashion and doesn't invalidate the count, chances increase (by a lot) that we'll see a rally higher. - If on the other hand it keeps on going lower, I expect this to be a wave C or...
Price broke out of this Triangle. I'm already long with my members since last Thursday but you can still buy in with a target at 147 first followed by 160 next. This setup remains valid as long as price stays above 112.6 !
We seem to have finished a WXY correction contained in this descending channel. A move above orange wave iv is a first sign that price is reversing but you can wait for a break above the middle channel line which would be a another bullish sign, followed by a move outside the channel. Beware though, we could see one more tiny drop down to around 1750 if the...
NFLX - Looks like we could see a rally up to 570 first, followed by 662 next but this view has to be evaluated anew once (if) price reaches 570. Best is to wait for a push above 496 before buying, in which case Stops can be placed at 475 but I recommend using 458.8, just to give it some more room. Ps: Notice that we have a potential Head & Shoulder pattern,...
Looking at the other indexes, I have to favor the Flat count on this one. I don't believe to be in a 1,2 / i,ii situation but it's still a valid option just as a potential Diagonal count ! But in both cases price needs to remain above invalidation level ! Shorting is the best option for now. For non-elliottitians : Idealized chart : Other indexes are...
This is a simple setup that could yield around 300-350points. Simply waiting for a break above the resistance zone. Personnaly, I'm putting a buy order at 13250 with a Stop of 60points. If we see a big candle breaking higher with high volume confirming the move, I will immediately move my stop to it's opening price. Beware fake-outs though ! If price breaks...
Reversed on the noted zone. (shared with Telegram subscribers few days ago). Looks good for now but if it drops below 96.80 we need to start thinking about other possibilities. Look for 3 waves correction to buy this.
Looks like a Triangle for now. So, price should fall as long as it remains below 6975. If this goes above the stop lvl, the forecast could still play out but instead of a triangle, we get a Flat correction. As long as price doesn't go above the 78.6% retracement level, I will remain with a bearish view here.
Combo correction with perfect hit of the ideal Fib ratios. The small divergence also indicates the 5 waves down for orange C are complete. Longs now are recommended especially seen the very small risk we have. For a more conservative entry you can look to buy once the middle channel line is broken and price goes above wave (iv).
We are in this complexe wave 4 correction which is freaking everyone out and that's good, that is it's purpose. Right now we're seeing price retesting the 200MA, if they can hold, we should see one more leg lower (refer to my previous posts). First support should then be around the 1950-1850 zone. If we don't get a new low, expect price to continue sideways...
We should be in the fourth wave of this 5 wave decline. On the 15min TF we can count 5 waves down and are currently in this 3 waves correction which ideally should hold around the 0.60 zone. A drop below wave a high of 5935, would increase the odds in our favor. Invalidation is at 6074 but if price goes above the 78.6% retracement level, chances are high the...
If this count is correct, we should see price go down one more time for the fifth wave of this bearish impulse wave. We could see resistance around current levels if not slightly higher around 2620 were we find the 100EMA. One more reason to like this count is the bearish divergence on RSI and MACD. Beware, the count gets negated if we go above 2859 !
Looks like wave ((iv)) found support at the expected zone marked by the 100, 200 EMAs and the 38.2 Fib level. So the chance for a continuation higher are increasing. Buy now with a stop at 137.1 is not a bad idea as R/R is pretty good. ^Previous post :
Nav has the potential to go above 50 but at first let's go for at least 31-32 if we don't see it go below 15.70. On daily we have a clean 5 waves rise followed by this ABC correction. We have length equality between A & C at 16.80 and the 50% retracement level of previous impulsive wave and also historic support. On the 30min chart, looks like we have 5 waves up...