Rykin_Capital

Rykin_Capital

Huge gap down, followed by a massive bearish candle and a healthy wick. Convincing divergences on RSX and BB%PCT, other indicators being long establish bearish. There may be a bounce off the 2-4 line in blue, but experience dictates that with a gap like that there is plenty more momentum pent up for more down ward motion.

Rykin_Capital

Explosion out of a tight trading range, maybe a continuation of B Wave in a corrective zigzag or a start of a Wave 5, still in pre existing trend. Technicals are certainly bullish for support. The bullish encompassing candle confidently crossed VWAP/US duo.

Rykin_Capital

Going off the technical picture, there is a general alignment from at least 5 different perspectives. The indicators I use look at the market from may different ways, deriving data from volumes, volatility, stochastics, momentum and simple stats like sigma deviations on the previous. Many cases do not offer a discernible Elliott count or a harmonic, but these are...

Rykin_Capital

I really like the divergences on the new low on more than one occasion and an encompassing divergence between the first low and the very last one. This is a common set piece in these type of complex corrections, where the Elliott count proves to be problematic. I am confident of a high chance of a profitable long, because almost simultaneously there is a flip on...

Rykin_Capital

This appears to be a A Wave of a new zigzag that sent us to low of lows at 3.00 . Now well and truly back out of thee OBOS territory. Generally speaking, A waves do not produce momentum divergences, and this appears to be the case here as well. AB trendline, along with MIDAS has been crossed, BB%PCT crossed zero line a few candles ago and we are bullish otherwise...

Rykin_Capital

These are often hard to pick and as a pivot or fade take, it is inherently more risky. The Stop is tight. Never the less Fibonacci cluster of 5 and 2 to 5 show some high probability areas of take profits. In practice we do not use stationary stops or targets, dynamic systems have proven to be more useful.

Rykin_Capital

There is a sizeable gap that crosses the low of A. We are probably looking at another Zigzag with a fairly shallow correction on A, which is discernibly fairly standard ABCDE. In our experience any gap almost never get corrected pronto, so we can expect more downward momentum on this stock.

Rykin_Capital

The Elliott Wave count is hard on this one. In my experience if your count tell you that you are done with a trend bullish or bearish, then you are probably not. Unfortunately, often enough trend completion is only confirmed much, much later. So, that leaves us assuming that we are still then continuing with the trend. Technical indicators are supportive of this...

Rykin_Capital

Text book example of an Elliott zigzag. 3 or 5 wave move, followed by ABCDE retraction to 0.618, fibtime B Wave over 1.0 and now price action confirmed by MIDAS line cross. MIDAS line cross for confirmation, we found, is superior to neckline/trendline cross for confirmation. To play the devil's advocate, this may be a more complex B wave and we might observe more...

Rykin_Capital

Converging Elliott triangle and three soldiers on price action. MIDAS line cross plus supportive, upgoing vWAP/US combo is reassuring. BB%PCT flip present, plus simultaneous, recent signal throw off by VZO/EshlersStochRSI combo. All of this paints a high likelihood of continued motion to the upside. We may find resistance at the upper triangle trendlines, or...

Rykin_Capital

What is most striking about this picture is the sudden change in price action - this may be a sign of continuation of trend and completion of XABC harmonic pattern. Technicals on VZO, Stoch RSI are quite suggestive. BB%PCT quickly flipped back to bullish. The bullish engulfing candle crossed vWAP, US and MIDAS lines simultaneously. Good luck out there and manage...

Rykin_Capital

We may be looking at a lagging diagonal of a much larger pattern here that has confirmed its completion about a day and a half ago. If this is true then we are due to a correction. Technicals sure seem to support this coming from momentum, volume, volatility, stochastic angles.

Rykin_Capital

There is probably a discernable Jurik RSX divergence on a higher time chart, as there is one VZO on this 12 hourly. And it would make sense. A good spot for entry here, as MIDAS line cross on the background of price action superior cross of vWAP and US lines. More technicality below- there is a cross of zero line on BB %PCT, and both Ehlers Stochastic RSI and VZO...

Rykin_Capital

My last take on applied materials was dead wrong, but you get that - this is trading. We are still proud to boast around 65% profitable takes overall. This is a good number for retail and institutional trader alike. Brett Connelly boast a stable 54% track record in his book "Alpha Trader." But back to the idea. Head and shoulder neckline break with gap and...

Rykin_Capital

A very suggestive bullish engulfing again. Single, isolated Japanese candles are meaningless by themselves. But when taken in context, they can paint a meaningful picture, as in this case.

Rykin_Capital

We finished a downward 5 wave Elliott impulse, with reversal being proven as far as we are concerned. The indicators are generally bullish, bullish divergent in tandem and pivoted. Good luck and manage your risk!

Rykin_Capital

Break out of channel with price action. Technicals also look favorable for a bullish position as well. It is the synchronicity that is most alluring. Four indicators flipped on the same candle on data exclusive (most likely) of the huge bullish engulfing candle at latest.

Rykin_Capital

A very favorable picture for long takers. MIDAS break, confluent vWAP, US lines, crosses for VZO and Stoch lines. Plus, importantly there is a break in a minor resistance at 18.05 (blue dotted line), leaving potentially much more room to move up.