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Elliottwaveretracement

TSLA - What A Time To Be AliveTLDR: What a time to be alive. These types of moves create a significant transfer of wealth, for the long's this has been a multi-year battle from $175 - $350 and now in a span just longer than a full month we're at $537.92 at market close January 14, 2019 This type of price action extends beyond fundamentals, and at this point is primarily dictated by human sentiment with a bunch of algorithms following (not the other way around)- good news for us, Elliott Wave analysis does some good in the department of predicting price action in periods of euphoria- these euphoric moves in price action almost always occur in the third wave. I have two scenarios or wave counts I have considered, one where the peak of price action today is the top of wave 3 or the conclusion of wave 5. I'm publishing the later, in both scenarios price action retraces. Considering other technical indicators, the broader stock market soaring into uncharted territory, and retail sentiment I'm leaning towards the conclusion of a fifth wave, leading into a larger correction. The 0.50 fib retracement lines up neatly with a historic level of resistance (now support) for Tesla shareholders in the $380's Perhaps there is more upside following the correction- something to consider for a later time -- or, sooner rather than later if the Tesla bulls continue to maintain the squeeze. If up is the direction from here- I haven't the slightest clue where the top is after this. At the time of publishing this chart I hold $425 TSLA put contracts If the price action continues to strengthen the probability of this wave count I intend to further short the trade with additional options Tom
NASDAQ:TSLAShort
by tomthetrader1
10
Elliott Wave - EURUSD - Get ready for wave 5 - BUYGood morning traders, The EURUSD appears to be forming the c leg of wave 4. Once this wave has completed we are looking to go long on wave 5. Wave 5 will also have 5 sub waves providing opportunity to enter further positions on pull backs. Wave 5 will need to reach at least the peak of wave 3, meaning 1.1240 can provide an initial target. 1.1020 will also provide a great entry as this will be a long term inverted head and shoulders pattern. Any thoughts on the set up are welcome!
Long
by ForexStoreau
S&P500: 3200 reached! What's nextLast week I showed the TVC:SPX would reach 3200+. See here . BINGO we have arrived. What's next?! Most likely a few more scribbles higher to finish this impulse off the 3070 low and then a move down back to 3070 for wave-4. As this market continues to count well as an impulse up and not as some sort of over-extended b-wave or what not, applying the impulse wave-count and the associated Fibonacci-ratios is clearly the best way to go to be as accurate as possible in forecasting this market. Extensions of this up wave are of course always possible, so don't be surprised if it blasts to 3230-3255. But all we can go by initially is standard patterns and for now it is following these standard patterns. A break and close below 3180 will go a long way to suggest wave-4 is underway. Once wave-4 is complete (and yes after 3 always comes 4!) then we should see wave-5 of wave-iii blast up to 3300s :-) Trade safe!
SP:SPXLong
by intelligent_investing
1
HDFC SEEMS BULLISHCorrection in previous update on NSE:HDFC since it broke all time high the next target will be around 2700, scrip is travelling in a wedge triangle pattern, it is travelling in final 'e' leg, we can expect a correction once it completes the given target because wedge patterns are forms only in '5' or 'C' leg of wave according to the guideline of Elliot wave, so we can expect a correction after 5th leg of primary wave. For further details write us to writetomonk@gmail.com Disclaimer:- The post for only education purpose
HLong
by Raj_marketmonk