YETI: TVIX: HUGE TRADESo I noticed a correlation between TVIX and YETI. If you look at the chart you can see that everytime YETI dumps, TVIX make a large move upwards. Last time when YETI started Wave A downwards TVIX went up over 100%
YETI has now just started Wave C down, and TVIX is at a low. Short yeti, long tvix, make bank boys lets go.
YETI trade ideas
YETI: GET PREPARED TO SHORTI have been posting fairly accurate YETI predictions for the past month. I have seen this correction coming for a while now, and we are due for a wave C down soon. I expect YETI to hit 0.618 which is what I have right now as the end of Wave B and then start Wave C down, but it may push higher to 0.786 based on the pumps I've seen recently and the very small Wave 2 correction.
YETI getting readyYeti looks like it’s forming a cup and handle formation on the daily. The 8 MA and 21 MA crossing historically for this young stock has been a trigger for some decent runs. RSI and MACD look ready to go as well. On the 4HR chart it just crossed the 200 MA and it’s bringing the 8 & 21 MA’s with it, RSI and MACD look great too. Company that makes quality, durable products should flirt with ATH as we head in to next year.
YETI 04.09.19 LongAsset and Time frame -1H Chart
Entry Price -28.5567
Exit(Stop Loss) -27.24
Exit(Take Profit) -33.83
The range between SL and entry -1.31$
Technical Analysis -Price breached the bearish tunnel with volume and a pattern, price retraced back from the -1 Fibonacci level, price action also confirmed the -61.8 Fibonacci level by retesting it, we made a higher low and broke the 2 SMA on the chart (100&200)
Why not enter the trade -X
What can be improved -
Conclusion & End of Trade -
Option Traders Bet Big On Yeti Holdings 20% upside===target price $35- entry level $29.70====
COMPANY PROFILE
YETI Holdings, Inc. engages in the design, marketing, and distribution of products for the outdoor and recreation market. Its products include coolers, drinkware, travel bags, backpacks, multipurpose buckets, outdoor chairs, blankets, dog bowls, apparel, and accessories. The company was founded by Roy J. Seiders and Ryan R. Seiders in 2006 and is headquartered in Austin, TX.
YETI: HOW TO TRADE UPCOMING ERAs I've mentioned in my previous post, YETI is currently undergoing a 4th wave which I've expected to be complete by the ER date. This means that on the day of the ER the 5th wave upwards will begin, leading me to believe that it will be a perfect opportunity to long.
Now as the 4th wave has continued to developed, I believe that the 4th wave is actually an abcde correction rather than an abc, in this case it's a contracting triangle. Subwaves are 3-3-3-3-3.
It seems that the triangle should be done right before the ER is released. If it isn't completed then I would not try and long. ER always jumps in the direction of your wave, or next wave if one has just been completed.
Don't take this advice too seriously, just posting for fun.
YETI: CORRECTION BEFORE NEW HIGHSLAST POST:
Yeti is currently in the 1st wave of 3, within a corrective wave 4. I believe that this 4th wave will go to a price of 33.75 before we start the impulse 5th wave. My first target for the 5th wave is $39.95, and the 2nd target is $41.75. We could see Yeti crawl down a bit further before beginning the 2nd wave within the 4th wave, this would bring the RSI down, and we could see a possible bounce off the RSI support level, then the 2nd wave up, and then the 3rd wave down which would break though the RSI support and go down to the next support level.
RSI SUPPORT:
Just posting for fun, don't take this advice too seriously.
YETI: WHAT'S NEXT FOR YETI?Here is my prediction for YETI. We are able to count the 5 waves properly by using a parallel channel. This means that the correction following the 5 waves is a wxy correction where the end of the (x) wave reaches a higher price than the start of the (w) wave. This is a perfectly legal correction following Elliot's rules. Also a confirmation on this correction can be seen if we look at the end of the (y) wave. If we draw a horizontal line from the bottom of (y) to the bottom of subwave ii within the 5th wave in the channel we see that they pretty much are at the same price level. This is also another observation that Elliot noticed and talked about occurring pretty often. This leaves YETI to be done with its correction and now begins the road of another impulse wave.