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Wavetheory

BAI keep seeing BA posts everywhere and the more I look at it the more I like it. It looks like we are in diagonal sold off into demand. Potentially a good risk/reward opportunity here. I’m going to actively watch this one and look to enter a long position. My long position will be less risk and I’ll look to go out to end of June / early July. Above 133.80 will provide more confirmation for me. Another option is to wait and see if that level is broken and then look for an entry on the back test of the wedge down.
NYSE:BA
by PT_Marche
1
SPYStill pushing, until lower lows are made, have to pivot and assess what’s being giving. Thinking we can see a push up to gap fill in short term. Market sell today sold right into a daily demand zone. If this holds, think we can see a smaller 5 wave count up to test gap fill and possibly retest 296. My plan is to watch price action in this zone here we are currently in and look to enter a small long. If we bounce out, target will be 293. Also, 293 is still my caution: if rejects, can indicate we are starting a 5 wave count down. If we break and test 296, I’ll think if will further confirm this current count. Either way, I think we at least get 3 waves up, whether it be a 1 - 2 - 3 up or an a - b - c, both should trend the same. It is around the targets of “3” / “b” where I think a better indication of next steps will be clear.
AMEX:SPY
by PT_Marche
TSLAIf you saw my prior education post of why I trade post earnings, this is another perfect example. Leading right into earnings price was right between supply and demand zones. Earnings release rocketed the price right into supply and, not surprisingly, sold right off back down into a demand zone where we currently sit. My overall thought is leaning bearish here. Per my counts, the earnings release should have completed 5 waves up for C. Corrections can be tricky, but I think we can very possibly at least get a push up to 820 - 835 area. This will be an important one to watch as if it gets rejected there, I’ll lean to thinking it will be a wave (b) in this correction where I will look to enter a potential short position. My invalidation if I enter a short there will be a break above 886. Bigger picture, possible we are starting a 5 wave count down for an overall larger correction. My invalidation for this overall larger correction would be a break above all time high. Will have to wait and see but short term my next thing to watch is potential small short if we get price to retrace back to 830 area.
NASDAQ:TSLA
by PT_Marche
5
Is Bitcoin Headed to $1000 This Year? (Elliott Wave Analysis)The break down this month has necessitated a MAJOR change in my Elliott Wave count. While the long-term is still ultra-bullish, actually even MORE bullish with this new count, the intermediate term over the next few months is looking quite bearish. With a global liquidity crisis mounting people will need to sell ALL types of assets to be able to survive this coronavirus/liquidity crisis. As more people lose jobs and their investments depreciate people will desperately need dollars to stay afloat and pay bills. This includes people who hold cryptocurrencies. Crypto is NOT immune to a liquidity crisis. The FED will need to print A LOT more money before we can recover from this drought of dollar liquidity, it should happen by the end of the year though when the FED goes into full blown panic mode. In the meantime, until liquidity comes back into the market en masse, BTC will likely head towards $1000 by November. This is by no means a death sentence for BTC or cryptocurrency and will simply be the largest correction ever experienced. We will recover though, and it will be a testament to cryptocurrency's resilience. Zooming out to the largest count on the Half Yearly chart, I've had to change this count from a diametric to what is technically a neutral triangle. This new count comes directly from the S&P, where wave-C ended in 2011 and wave-D ended in 2018, and now we are forming wave-E. This is the only long-term count that really makes sense at this point so I've forced it onto this chart. Also, having wave-E start in 2018 is MUCH MORE BULLISH than my previous count. It means after around 2022 we should begin one of the strongest, most consistent bull runs in history on both BTC and the S&P! This is consistent with the macro fundamentals as fiat currency will become significantly weaker over the next 2 years as central bankers print money on maximum overdrive to get us out of this recession. Also this is consistent with other cryptocurrencies. If BTC drops ~80% from here I would suspect that the majority of cryptocurrencies will fall AT LEAST 80%, and many will make full recoveries as well. For reference, here is my count on the S&P (Note the similarities between BTC and the S&P counts!)
BNC:BLXShort
by Intuit
6
USDCHF: Wave alternation key in understanding current correctionIn wave analysis, the guideline of alternation warns to always expect a difference in the next expression of a similar wave. Although alternation does not say precisely what is going to happen, it gives valuable notice of what not to expect and is therefore useful to keep in mind when assessing future probabilities. So we can expect anyone on the corrections that Elliot identified. Even a triangle is possible. I would advise not taking a long position until price reaches an area suitable enough to start selling.
Short
by UnknownUnicorn5158708