yeah well we said when it was near the 100 area to expect a 40 -
50 point rally at least for a wave 4 and wave 4 can go beyond that
as the low of wave 1 is 198 (wave 4 not invalidated until it
overlaps the low of wave 1). If it turns into something more than a
wave 4 then fine, but down there near when you had 5 completed
waves of at least a wave 3, it was very low risk and an easy
objective long. Now it's achieved my first major target of the 50
day MA, let's see what it does in here, but wave 4 (if it's that,
could still go quite a bit higher and not invalidate)
TSLA is also an example of both bull and bear counts aligning
for the same trade - under a bearish wave 4 it was calling for a
big rally. Under an arun bull market call it was calling for a big
rally.
my point is - when both scenarios call for the same thing, you
don't really need to be convinced of one side - you have a
super low risk trade no matter if you are super bullish or still a
bit bearish.
trying to get you guys to look for objective trade setups vs
being locked into a bull market or bear market market designations.
as traders our job is to look for objective trade setups with
very good risk/reward so that if we are wrong we don't lose much
and our winning gains far exceed losing trades when we get stopped
out, and also to look for setups that align with your trading plan
and personal style (relative to the time frame you like to trade).
Focus on objective setups and entries and no so much
bear/bull designations.
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yeah well we said when
TSLAhttps://www.wsj.com/articles/tesla-stock-elon-musk-electric-vehicle-11673623093FEEL sorry for people that sold out at the lows. ...
Posted by matt on 26th of Jan 2023 at 09:31 am
yeah well we said when it was near the 100 area to expect a 40 - 50 point rally at least for a wave 4 and wave 4 can go beyond that as the low of wave 1 is 198 (wave 4 not invalidated until it overlaps the low of wave 1). If it turns into something more than a wave 4 then fine, but down there near when you had 5 completed waves of at least a wave 3, it was very low risk and an easy objective long. Now it's achieved my first major target of the 50 day MA, let's see what it does in here, but wave 4 (if it's that, could still go quite a bit higher and not invalidate)
TSLA is also an example of both bull and bear counts aligning for the same trade - under a bearish wave 4 it was calling for a big rally. Under an arun bull market call it was calling for a big rally.
my point is - when both scenarios call for the same thing, you don't really need to be convinced of one side - you have a super low risk trade no matter if you are super bullish or still a bit bearish.
trying to get you guys
Posted by matt on 26th of Jan 2023 at 09:41 am
trying to get you guys to look for objective trade setups vs being locked into a bull market or bear market market designations.
as traders our job is to look for objective trade setups with very good risk/reward so that if we are wrong we don't lose much and our winning gains far exceed losing trades when we get stopped out, and also to look for setups that align with your trading plan and personal style (relative to the time frame you like to trade). Focus on objective setups and entries and no so much bear/bull designations.