Really nice chart here, follows the green impulse waves nicely from March 2020, noticing the well structured waves and pull back, then it came into its corrective phase and ABC pull back to the 0.618 FIB exactly and bounced. This should be a reference point for everyone who is still trying to learn EW theory.
If you are confused by the market, don't worry you are in big company, even the market can not decide which direction it is in. Bull Flag and a wedge formed here and still hanging around the blue resistance and support lines.
It is still trending in our target direction, I know there will be buyers here when new lows come in.
2023-02-16 19:26:57 +0000 UTC View Post
Nice hold above the ascending wedge breakout, needs to stay above the first target now and the second target is in play.
2023-02-16 19:25:54 +0000 UTC View Post
Broke out of the channel and smashed through our first target and enroute to our second target.
2023-02-16 19:21:41 +0000 UTC View Post
Good earnings, no changes to the chart I uploaded before the earnings, targets remain above.
2023-02-16 19:11:14 +0000 UTC View Post
Good earnings report but their Q1 guidance was weak and down -13% now, seems harsh. Our chart has not changed tho, it was looking corrective and this is why we had a WXY count in here, might be looking at 5 waves down now next.
2023-02-16 18:58:27 +0000 UTC View Post
Very good earnings, comfortably in the bull case, ran from $81 to $120 before earnings, a lot of people were optimistic and were correct.
Large gap left behind, I would like to see this filled which would work out nicely for a subwave 2 pull back, also a nice entry point.
Holding above the 200 Day on the 5min today, will it continue to hold here or come down, as we move up this wedge, the break down point gets higher, so around $10.05 is the price that needs to hold in the wedge now.
2023-02-16 17:56:56 +0000 UTC View Post
Broke down from the flag and starting to retest the previous support now.
2023-02-16 17:47:11 +0000 UTC View Post
This pull back did come back to the 0.5 Fib and bounced, but the movement lasted all of one day, Wave 1 took almost 6 weeks to complete so I don't believe that Wave 2 can complete in such a short period of time...so my Wave 2 projection will remain in place. A break above the top of Wave 1 should confirm we are starting Wave 3 however.
2023-02-16 17:44:02 +0000 UTC View Post
Bull case here added, price action has gone right up to the previous high, Wave 5 would be extending all the way to the 3.618 Fib, if this does flip into the bull case, we would be looking for an ABC count next after Wave 5 has been reached, after this ABC count is complete, this would be a good point to add, I will update as it progresses.
2023-02-16 17:38:31 +0000 UTC View Post
I am still not ruling out Wave 2 pulling back yet, divergence on the RSI 1hr chart and its very distinct and obvious. Wave B is still very very short and shallow and its making me uncomfortable. I believe there is more drama here for $TSLA
2023-02-15 22:17:39 +0000 UTC View Post
Not much has changed in this chart since its been uploaded last, break out from the wedge and would like to see another pull back to confirm Wave 2 but the amber and green lines both lead to the first target.
2023-02-15 22:09:46 +0000 UTC View Post
Not much has changed on this chart. It has gone down lower than we would typically like to see for a Wave 2, so needs to hold above the previous low now. Very little in terms of support below this low, double miss with their earnings has probably not helped so hopefully management can take control now again and take action.
2023-02-15 22:05:42 +0000 UTC View Post
$BLNK has pulled back from the euphoric highs in late 2020 and still inside its large wedge...watch for a breakout of this wedge. Ultimately, $9.44 needs to hold first.
2023-02-15 21:58:06 +0000 UTC View Post
Bounced well today, along with $COIN and $BTC.....held support at the first target which was in a Wave 2 zone. Let's see if it can gain on this momentum, very similar thoughts for $COIN and $BTC too.
2023-02-15 21:51:05 +0000 UTC View Post
Inside a wedge now within a consolidating blue parallel channel. Has bounced very well since hitting $3, will need to continue this now through the wedge. Rejection at the red line could bring this down again.
2023-02-15 21:46:20 +0000 UTC View Post
Working through its own wedge too. Both could bounce within the wedges but it still looks bearish.
2023-02-15 16:15:54 +0000 UTC View Post
This pull back has been very aggressive but showing a nice bounce today, needs to get out of this channel to turn bullish, otherwise its down to the lows again...which leads right into earnings.
2023-02-15 16:11:13 +0000 UTC View Post
As I mentioned under the $TSM post, Semi's might be under pressure, Buffet may know something we don't, so let's be sensible here, watch for lower lows and a break under the bull case again.
2023-02-15 16:06:22 +0000 UTC View Post
No changes here, bounced exactly at the Wave 2 Fib level we drew and up 24% now.
2023-02-15 16:02:38 +0000 UTC View Post
This was always going to be a difficult day for $TSM after Buffet offloaded 90% of his shares for a healthy profit.
Can it rebound from this?....we spoke about the Semi's slowing down and the possibility of NVDA approaching Wave C too, so lets see if it can break out, if not, they are coming down.
Broke out of the channel and pulled back to find support above the channel, found it and bounced.
2023-02-15 15:26:17 +0000 UTC View Post
Testing the previous high now, this has been relentless.
2023-02-15 15:19:23 +0000 UTC View Post
Like $NIO, hanging onto the wedge, $FSR truly tests anyones patiences.
2023-02-15 15:15:59 +0000 UTC View Post
Hit the upper limit of the bull flag today and came down, it between the blue lines now....in no mans land for now.
2023-02-15 15:11:36 +0000 UTC View Post
