xstreamSTL

xstreamSTL

Using Elliott Wave, RSIE, and Impulse MACD, I am waiting for the next Wave 1. Currently determining the bottom of wave c (short). on the 1 hr.. chart. Next wave is wave 1 (long).

xstreamSTL

That 1st Fibonacci level from the peak of wave 1 is the first Target Price indicated by the horizontal line. We are just beginning the long 3rd wave. Time to get in!

xstreamSTL

Order has filled on the breakout above $29.63. First target price (TP) shown on the chart as 161.8% fib extension from the peak of Elliott wave 1.

xstreamSTL

One could have opened positions when price hit 50% down from wave 1, which is part of the Fibonacci Ratio Relationship rule. However, it could have dropped further to 61.8%, 76.4%, or 85.4%, being part of that rule. So, being firmly on wave 3, being the longest of 1-3-5, I chose to wait for the breakout at price of $51.88. It was really close yesterday.

xstreamSTL

A nice 49% gain was realized on a number of 06/17/2022 5.00 Calls I had since March 8. I closed them out today since the high for the day hit just short of the 1.618 Fibonacci extension from the peak of Elliott wave 1. I'll take that kind of profit any day.

xstreamSTL Updated 

We appear to be on the 4th E-wave still since the EWO has not crossed the zero line. The magic fib level, assuming end of the 4th wave would indicate a short reversal, heading up as the 5th E-wave. I welcome any critiquing, whether in agreement or not. Trade on with gusto!

xstreamSTL

I will be keeping stops pretty tight on this one since we are only on the first wave. Giddy up!

xstreamSTL Updated 

I am assuming last January that we encountered the 3rd wave since the long span had more amplitude than than weeks prior. According to that assumption, we appear to be in the 3rd wave of the next cycle since the EWO has not crossed '0' that would start the 4th wave. All feedback/critiquing is welcomed.