EEM just broke 50 day for the first time after quite a while. I think the downside wave is finished, as wave 5 reached the 1.618 extension of wave 3 perfectly. If price in the next few days breaks above upside wave 1 I think it is a great time to go long, because wave 3 is usually the strongest and most impulsive wave. The downside wave 5 also hit and bounced at...
The market is dropping. All my previous ideas (SPY, IWM, DIA, .....) have been featuring this drop. However, BAC has a quite different chart compared to those so I guess I will post this one for reference, since we are having a big j confirmation red candle today. I think we are on wave 5 down. the target is the red box. I will look for a finished setup 9 and...
AMZN just completed an ABC corrective wave at a 9 and 13 combo and yearly pivot. The weekly chart also posted a 9 exhaustion signal as well. This is either a bounce to a lower high, probably at 200 day, or a spike up for new ATH Stay safe traders!
TD-D-Wave(by Tom Demark) is similar to Elliot-Wave Theory but lessens the subjective "calls"/"changes" to wave counts done by most Elliot-Wave practicioners by implementing minimum requirements as far as candle counts (much like baseTD Indicator). Won't go too far into the rules in this series of posts but encourage people to poke holes in this analysis where...
For some reason today I took out the chart on XLF and saw my wave projection which I outlined after the materialization of wave 3 and was very surprised. We have a very nice red 9 setup to lock in wave 4. Price is now heading to finish wave 5 at around $24. I was about to re adjust the wave 4 to fit in the realistic price action but somehow felt that it is better...
we are in wave 3 of TD D-wave. Just took some of my profit at 22.99 The target for a textbook Wave 3 is at ~18.76. However I will take my profit at the next Trend Factor, which is 21.72 which happens to be S2 monthly pivot. Good luck trading! I will update this idea accordingly
Island doji candle, at monthly pivot R2, at around 0.618 retrace level ---> good short entry signal Wave price projection is pretty low, so I would not rely on that setup yet. However I am trading this short until 276. Stop loss on chart. Good luck trading!
I actually forgot DIA having posted setups for SPY QQQ and IWM already. Same scenario with DIA. First target is at next Trend Factor at 240.17 Final target area is the red box. Good luck trading guys!
We are most likely on wave 5 of TD D-Wave. Target at first red box. Stop loss at 282 Good luck trading!