Posted by goldnice on 11th of Apr 2020 at 03:49 am
{Very short term} Bear market bounce buy in this Nasdaq ETF was
$195.25. Very hard stop@$180.85. If we do get stopped out then we
get a final {Wave 5} down for a real trade-able bottom. Resistance
and possible wave 4 top target at $215
Most Elliot wave posts I follow say that now wave 4 has
overlapped wave 2, as shown in your chart. They have now
established the March low as a wave 5, and now heading up in an
ABC, or on a bullish biases, starting a wave 3 impulsive wave up
(lower probability option, but possible with Fed
Actions).
If we pull back to the Weekly Chart, The wave count seems
to be W-X-Y corrective to final (y)/4 flush. This is
all speculative But in play until it is validated by breaking
above the 61.8% retracement., Looks like a hammer from
last weeks candle and the Full Stoch has not even crossed up
yet. Caution.
{Very short term} Bear market
Posted by goldnice on 11th of Apr 2020 at 03:49 am
{Very short term} Bear market bounce buy in this Nasdaq ETF was $195.25. Very hard stop@$180.85. If we do get stopped out then we get a final {Wave 5} down for a real trade-able bottom. Resistance and possible wave 4 top target at $215
Most Elliot wave posts I
Posted by elliotw on 11th of Apr 2020 at 09:11 pm
Most Elliot wave posts I follow say that now wave 4 has overlapped wave 2, as shown in your chart. They have now established the March low as a wave 5, and now heading up in an ABC, or on a bullish biases, starting a wave 3 impulsive wave up (lower probability option, but possible with Fed Actions).
If we pull back to
Posted by ssaffer on 11th of Apr 2020 at 11:26 pm
If we pull back to the Weekly Chart, The wave count seems to be W-X-Y corrective to final (y)/4 flush. This is all speculative But in play until it is validated by breaking above the 61.8% retracement., Looks like a hammer from last weeks candle and the Full Stoch has not even crossed up yet. Caution.
Nice work with the Pitchfork.
Posted by ssaffer on 11th of Apr 2020 at 12:10 pm
Nice work with the Pitchfork.