UnknownUnicorn4017959

UnknownUnicorn4017959

Coming up on alot of 5th waves ending in the markets overall. NQ our target is around 13300, and we could see the potential for a macro retracement if that top is put in place. Disclaimer: The proceeding content is informational only and based on information available when created. It is not an offer or a solicitation nor is it tax or legal advice. It does not...

06:56

UnknownUnicorn4017959

On today's weekly video, we look at ES and NQ futures, as well as the BTCUSD, and how price action for Bitcoin could move over the next week. We also review SRNE and AZN, and some potential they might have going into this week. Disclaimer: The proceeding content is informational only and based on information available when created. It is not an offer or a...

UnknownUnicorn4017959

B wave should have a 3 wave count, and not a 5 wave count, alternate possibility if it was a 5 wave count, is that this was a wave 1 in place, and we get a wave 2 pullback. Disclaimer: The proceeding content is informational only and based on information available when created. It is not an offer or a solicitation nor is it tax or legal advice. It does not...

UnknownUnicorn4017959 Updated 

Since 1993, it looks like we do have 5 waves up, and we are getting to a point where that cycle seems to be ending, and is looking like we could roll over and begin the corrective phase. Key levels where the wave 5 could end on the SP500 are 4000 to 4200. Most patterns prior to a correction are a double top, so next sign to look for is the double top. If this...

UnknownUnicorn4017959

Leading into the 2008 recession, we saw an inverse correlation between the US Dollar and the Stock Market; while the dollar continued to fail, the stock market continued to rally. This eventually led to one of the worst recessions in modern American history. Similarly, in 2020, we are seeing that same disconnect that was present in 2007-2008, where the dollar and...

UnknownUnicorn4017959

Nice looking setup for SRNE. I personally took a position with a stop under the wave 2 low, and my price target playing for wave 3 (see chart). The wave 2 low needs to hold in order for the chart to still appear bullish, otherwise, there could be potential further downside. From a fundamentals perspective, they are working on some treatment for Covid, so there is...

UnknownUnicorn4017959

Simple illustration about how potential recoveries after a correction can look.

UnknownUnicorn4017959

We did not have a clear B wave structure on our way down during Feb, and currently we have a leading diagonal for the bounce off those lows. We could get another move to the downside for the wave 2 pullback, or potentially, this was just a B wave, and price turns lower to retest the March lows. Either way, poses a decent opportunity for recovery after the...

UnknownUnicorn4017959

So far we do have a 1-2 start coming off the march lows, could complete a micro 2nd wave pullback to begin the wave 3 move to the upside. Additionally, this could signal a longer term change in trend for energy, after the consistent downtrend for the past 5-6 years. Disclaimer: The proceeding content is informational only and based on information available when...

UnknownUnicorn4017959

Stopped out of trade after invalidation of our 1-2 setup off the lows made earlier in the month. Waiting on some consolidation and signs of 1-2 start before taking entry again. Disclaimer: The proceeding content is informational only and based on information available when created. It is not an offer or a solicitation nor is it tax or legal advice. It does not...

09:01

UnknownUnicorn4017959

On today's episode, we look at BYND, ZM, BBY, and FDX, as well as NASDAQ ETFs, like QQQ and TQQQ. I personally want to wish you all a really Happy New Year, this year has been tough for a lot of us, and I wish you all the best going into 2021. Disclaimer: The proceeding content is informational only and based on information available when created. It is not an...

UnknownUnicorn4017959 Updated 

Copyright Rohan Karunaratne 2020

UnknownUnicorn4017959

Constructive start on ULTA after being trapped within the trend channel for a couple of weeks. Also good backtest of the upper resistance, suggesting a potential for a bullish start. We could potentially be coming up on the wave 5 ending for the cyan count, and could see a small pullback to complete the green wave 2. From there, next targets are the green wave 3...

06:17

UnknownUnicorn4017959

On today's episode, we look at FDX, and ULTA for Elliott Wave Analysis, and also overall looking at the technicals for the Nasdaq ETF, QQQ and TQQQ. If you have any questions or comments, feel free to ask in the comments section, and I will try to get back to you ASAP. Disclaimer: The proceeding content is informational only and based on information available...

UnknownUnicorn4017959

Looking at the long term picture, we did not have a clear B wave bouncing during the March crash, that could suggest a full ABC retracement was completed. We could possibly be rejected at the upcoming Fibb levels, particularly around 50 and 61.8 retracements around 61 and 71. MACD divergence is also negative, which could suggest an impending correction, the extent...

UnknownUnicorn4017959

We do seem to have a clear 5 waves up off the lows made earlier in the month, and coming off those highs, we currently only have 1 wave down. For a full retracement, we need an ABC pullback, so that could include a B wave bounce to around 24, and then ending in the C wave around 21. If this is the case, then there could be a more long-term bullish outlook, because...

UnknownUnicorn4017959

Copyright Rohan Karunaratne 2020

UnknownUnicorn4017959

Copyright Rohan Karunaratne 2020