PT_Marche

PT_Marche

Game plan for tomorrow is to look for a good entry short. Going off the AH high of currently 791, this puts price action just about right at the 1.2x length of (a) of this a-b-c up and between the 618 and 786 retrace from the all time high. Being already in a large supply zone, I already started to build a small short and will look to add tomorrow if we stay...

PT_Marche

63.80 is my invalidation... I’m cautious with this one here. Bear argument is that possibly we are forming a running flat correction to complete overall abc retrace. Then again, how many computers have people and companies have to had buy to set up work from home... I know my work had to purchase a lot! If we break 63.80 I’ll reassess but until then, with it in a...

PT_Marche

Well recount update as /es and SPY made a higher high after hours and broke 284. As my previous post, break up we visit 282, as we blew past that after hours and broke 284 (next target), will look for 288.50, which happens to be where after hours is currently sitting. So couple things I’ll watch tomorrow. 1) will look for retrace to demand at 284. If it holds,...

PT_Marche

Still overall leaning to downside. Things I’m watching: 1) went into today expecting a lot of up and down chop and think we got that today; 2) with the inside day, i) think if we break above 280.03 we can go revisit 282 area quick; or ii) we break 275.76 we can go down to 273 area. 3) if we break up, it looks like we could be in an abc retrace for wave (ii) (in...

PT_Marche

Watching today. Think we can get a push up to 290’s but thinking it will be choppy. Think price will bounce between 284 and 298. Not bullish until 304 is broken (high of previous wave (b). Currently in a wave c up. Wave c usually measures 1x to 1.3x length of a. Those two prices happen to be 288 and 304! So even with a push to 304 I’ll remain cautious because...

PT_Marche

Added more to my short position today. Could TSLA go up to 770? Yea, it’s TSLA, just kind of decides to do crazy things sometimes! But I’m bearish on it with positions that I will easily hold onto even if it decides to jump up randomly. Positioning is important because a hard reversal shouldn’t crush you. Put time on your side. With a structured short...

PT_Marche

Here is my overall thoughts and opinion on SPY. I think if it turns to the downside it can go revisit 240 and potentially lower to 200. The 200 area coincides with a prior degree wave 4 count which generally corrections tend to retrace to. Started a short position Monday (maybe little early) but I start small and build to my risk comfort. Will see what happens...

PT_Marche

A lot going on here I’m watching... 1) ABC up (green) appears to be near completion with impulse wave c near/at a lot of key levels. This would suggest potential reversal. 2) Currently between 618 and 786 retrace levels of overall market drop, suggesting ABC up is near complete. 3) Currently sitting in an important supply level, suggesting potential...

PT_Marche

Went into today with a short position and ended up holding onto it! Find and place good entry points and give yourself plenty of time in case price decides to turn against you; this helps to really mitigate taking large losses! ... that and little hedging! Intraday demand formed around 282 which gave end of day bounce up to stretch for a higher high. As of now,...

PT_Marche

Met and blew right past first price target of 650 with a nice gap up to 740 level. Gapped up right into a significant supply zone and watched price action today with a thought it could try and push the 780 price. Mid day I entered a short position, giving myself plenty of time to let price action work even if it continues to move towards 740.

PT_Marche

Touched the down trend line right at beginning of day and right at the end of day. Still leaning to downside. I know others may have different counts but for me, I’m keeping my count unless we get a higher high above 61.49 for a possible invalidation. Currently still holding onto small short position I entered other day.

PT_Marche

Took an entry around 2038 and rode wave 3 of (3) up. Ending right in supply zone so exited my longs. Will look for a retrace for wave 4 of (3) for next price target!

PT_Marche

Closed within pennies of the 50% retrace today. Tomorrow will be another day to watch closely. If stays under 59.72 I think it can turn and head towards the 54 price range. Entered a short position right at end of day just as price closed in on the retrace target. Will invalidate my count if 59.72 is broken.

PT_Marche

Think corrective wave c up of X is in (where the lil green 5 is). Watched price today as I think we start to reverse and go down. Plan is to watch if 276/277 is rejected to turn and continue down. If an a-b-c down, should be in 5 waves but not jumping too far ahead yet. Started a short position right at the end of the day as price retraced back to a 50% retrace...

PT_Marche

Think it can keep pushing its way to 650 area which will be an interest zone for me to watch. Around 650 is the 50% retrace with the overall market drop. It is also the area where wave theory would align with a-b-c wave c up to be completed. If it rejects around there, I’ll lean to downside and look for a small position short. If it breaks through, could...

PT_Marche

The 58 level struggle mentioned to watch for today. Will watch closely here to see what happens. I’m leaning to downside with lower lows and lower highs.

PT_Marche

End of day we came back out of demand but now looking at it differently. Think 58.78 is going to be important next week if my target of 62 is going to happen (62 is aggressive as 61.85 is the 50% retrace from the start of this overall market drop). If rejected at the supply of 58.78, will be watching and thinking this is the start to the corrective phase down....

PT_Marche

Waited patiently for this to fall back into demand. Lot of selling into demand and took a long position. Rode for a nice quick gain out. Still think it can get to 61/62 but will keep watching.