alexfeng

alexfeng

I think Friday will be a crucial day to see if GME can bounce off the $45 support level that was set back in mid Jan. That is the final bullish case for GME to see if it can hold. If it fails this $45 support level, I think it will follow VW's squeeze cycle and head for lower lows, with the next support level at around $20, which unfortunately aligns with Andrew...

alexfeng

GME coiling and direction is uncertain!

alexfeng

From the high BTC has recovered to the .618 level. If this is a 3 wave ABC correction it should reverse and go further down at a 1:1 extension of the A wave or double bottom

alexfeng Updated 

XRP has hit the median link of the pitchfork going back since march 2020. Now it is in the goldenzone from the most recent bullrun, expecting a bounce

alexfeng

Wave 1 traced to .786 in march during the peak of Covid, followed by huge push up with a wave three to 497. Wave 4 looked like a bullish pennant, which we broke out of and we are reaching ATH and 600 today. Wave 5 is targeting the 1:1 extension of the first wave off the peak of the wave 4 pennant, which would land at ~625. Looking for a retracement to 50%-61.8%...

alexfeng

Primary hypothesis is that the recession has now started and we should expect at least a 50% to 61.8% retracement of the gains since 2009 to the peak in Feb 2020.

alexfeng

After topping at $200, BYND meat looks like its currently correcting after a parabolic raise completing 5 waves up. I think it will pause at a 50% retracement at around $122, which corresponds with the 55 EMA on a 4hr chart. I then think it will dip lower still until it hits around $100, which is the .618 retracement and golden pocket. Potential long opportunity...

alexfeng Updated 

I think AMD is topping out soon and will retrace in its 4th wave, then go back up to challenge higher highs

alexfeng

This is a weekly chart of the S&P 500, illustrating 2 previous recessions and a possible one coming soon. In 2001, recession topped at the 3rd wave and retraced 50% to wave 4. In 2009, recession topped at the 5th wave and retraced to the golden ratio at .618. Now as we're approaching 2020, which happens to be another election year, we are approaching the end of...

alexfeng Updated 

SQ has been on fire, and is approaching a critical $100 psychological level. I think it will most likely top out at 100 followed by a massive 50% retracement

alexfeng Updated 

I believe TWTR has completed its 5 wave impulsive move up and will trace down and is in the middle of it's ABC correction

alexfeng

I think we are in an impulsive trend upward and we are currently working on wave 3. After which there will be a small corrective wave 4, followed by an uptrend of wave 5. I have limit buys at 48-50, where i think it will bounce off the 55 EMA, and continue its uptrend to wave 5.

alexfeng

DJI in its ABC correction right down, coming down on it's C wave. it might end short, but one possibility that it will correct to 1:1 extention of the A to B wave.

alexfeng

No idea where this is going to head next, going to stay out the market until there is future confirmation. A lot of lines are intersecting and it can go either direction. Just a few more hours/days until we know

alexfeng

I noticed that the pattern from the drop in the past couple days look very similar to the trend on 1/15. I believe we'll fall back to the .236 fibonacci which is around the 6700 level. MACD looks like it's about to roll over, and RSI seems to have a dip too. Thoughts?