ChartMeNot
Not happy I did not take profits on the fake rally 2 days ago, very low volume. Now that this stock has fallen, trying to learn my lesson: This was a 3 drives and the fall was down to precisely the line from peak #1 through bottom #2. Almost spooky how that happened. Now drawing fibs and I'm hoping it returns to fill the gap, to 69, back where the 1 hour VP says...
I have no idea what's going to happen to this stock but this chart is crazy. Is this normal? See previous chart on the 3 drives pattern.
Sure looks like a Gartley. We'll see what happens tomorrow. Also did you notice how flat the price has been for the last 2 days straight? Perhaps some pinning going on? If this harmonic fails, the rally is over.
I'm new to this game, despite having been in the market for 20+ years. This flag looks bullish to me, but it could go either way I think. Setting an alert, but not a stop, @ 115. Depending on what happens I will probably try to get out if it goes below that. Learning to not get stopped out by MM's who are trying to take my money. But don't want to lose capital either.
I'm trying to learn my lesson here, it's ok to miss trades. There will always be more. Going long at 160, not 180. After earnings, not before. Will it work?
Unfortunately the bull case failed (support at 180) as bad news out of China is sending this stock to new 52-week lows in HK. So it will be a bit harder to get this train back on the tracks. This is one way. (Not even close to financial advice) Looking for "supply zone" in the 170-180 range. 170 is rock bottom covid crash March 2020, and has some fib...
Theoretically if ES holds above 4460 I guess it's time to be bullish. Not calling the top just yet, I already tried doing that twice...
The declining volume in this wedge looks bullish. Nonetheless I will wait to see what happens, it could break downward and fill that gap @185-190.
Calling the top again. Like a true bear, I plan on calling the top 3 more times and then I'll be right and say "I told you so". Just kidding, a market crash would be painful, but healthy in the long run. "So now faith, hope, and love abide, these three; but the greatest of these is love." - 1 Corinthians 13:13
Looking to buy calls after earnings, but this one might get away from me. Going long anywhere in the 185 range. Targeting at least 230 but the sky's the limit here.
I'm sure a bull case is just as likely as a bear case, but we'll find out which in the next few days.
I had to research what exactly the .886 is. It's the square root of .786, which itself is the square root of .618, which is the reciprocal of the golden ratio, 1/phi. Remember: The lot is cast into the lap; but the whole disposing thereof is of the LORD. - Proverbs 16:33 The heavens declare the glory of God; and the firmament sheweth his handywork. - Psalm...