JakeSchoenleb

JakeSchoenleb

The market has rallied hard on from the low established December 24th. I believe the market will continue to rise throughout the first half of 2019. However, markets do not usually rise in a straight linear fashion. Therefore we should expect a retracement or consolidation soon. Using Elliott Wave Theory, I believe we are near completion of the first wave up. If...

JakeSchoenleb

Good afternoon everyone! I'm sure your all wondering what's going on with the market, given that the DOW had its largest gain in history yesterday. Yesterday screamed a short squeeze to me. My current counts are showing we are in the midst of a correction higher. There are two counts I'm tracking. My primary count (1hr) shows us completing a zig-zag correction...

JakeSchoenleb

Good afternoon everyone! I'm sure your all wondering what's going on with the market, given that the DOW had its largest gain in history yesterday. Yesterday screamed an impulsive wave and short squeeze to me. My current counts are showing we are in the midst of a correction higher. There are two counts I'm tracking. My primary count (1hr) shows us completing a...

JakeSchoenleb

I came across an interesting pattern on consumer staples ETF (XLP). The pattern is a channel spanning almost 9 years. The pattern is well tested and respected (7 reversals on the lower bound, 6 reversals on the upper bound) Over the past two years, the ETF has consolidated gaining only 2% per year. Despite the consolidation, the ETF has an annual return of 22%...

JakeSchoenleb

Testing lower trendline, 61.8 retracement, oversold on most technical indicators. Great Risk: Reward 1:6 After a heavy sell-off, Ethereum has found support and gained 50% in the past 33 days. With strong buying volume and 3 clear bounces, I believe this to be a great entry for a long position. If the lower trend-line is broken, then I will look at a possible...

JakeSchoenleb

technical buy -61.8% Fib retracement -testing 9 month uptrend -double bottom -Risk/Reward : 5 sell if AMD closes below uptrend take profit or watch closely when AMD test 13.30 If AMD breaks the reversal zone, I would add to my current position and use a new stop loss below support Post thoughts and comments below!

JakeSchoenleb

AMD has fallen 9% since taking profits. There are some technical levels that the stock could find support. I'm still Bullish on this stock. With a new chip and earnings being released at the end of the month, I expect the upward trendline to hold. I'll look to buy when there is a confirmed bounce. This trade has a risk to reward of 9:1. Post thoughts!

JakeSchoenleb

Potential moves in ETH/USD based on technical analysis Price action is showing a descending triangle. The pattern has been tested 6 times on the trendline and 8 on support Descending triangles usually break downward. on a Sell, take profit is around 265 (21% gain, 7% risk). on a Buy, take profit is around 393 (10% gain, 5% risk) volume has flattened...