Previous analysis on 20th March 2024 (linked) would have worked but with more downside than expected (~50 points). Currently, we have a potential ultimate peak in S&P500 on 23rd May 2024. Take note that this idea will be invalidated with a new high and that could mean much higher prices for S&P. However, as traders, we are concerned with risk-reward and not...
Note that this is the 3rd time that I have suggested to short NVDA. The first time we were fortunate as price gapped up and thus the trade wasn't taken. The 2nd time was stopped out yesterday. And this is the 3rd time that I am calling for NVDA short. The risk-reward ratio is good. Keep it tight.
I had previously mentioned to wait to short NVDA with resistance around $970 and expected their earnings to push the stock to gap up to just below $1000 (I had expected around $991). But good thing is that it gapped up way above the 2 prices mentioned above and actually made a perfect top at the Fibonacci extension level. Meaning if people had waited according to...
1. Wave 2 completed. 2. In the midst of wave 3 at the minute degree, minor, and intermediate degree.
1. USDJPY going for 5th wave up in the short term. 2. Long term is extremely concerning as there are no resistance above 161. Might move above 200.
1. Completion of double combination wave 2 2. Start of Wave 3 down. 3. Expects Nikkei to fall to 32323
Update to my idea previous where I mentioned that I expect a wave B down and then a wave C up. Now that I expect this wave 2 to have completed, it is time to short BTCUSD.
US 20Y yield had hit my previously projected target (idea on 3rd May). Now I expect a corrective wave up in A-B-C and then a wave 1 = wave 3 move down (minimally).
As drawn in the chart, expects 966- 974 to be the resistance zone and thus a good short candidate in terms of risk-reward.
This is a short call that I had forced the last wave up to be an "ending diagonal". The reason for doing so is because of the price-volume divergence that is shown on the daily timeframe when AMZN was making a new high. For those who are familiar with "Ending Diagonal", the imperfection will to be pointed out is" "Wave 1" did not show clear 3 waves. "Wave 2" is...
A few points mentioned in the video: 1. Completion of Wave 1 "Leading Diagonal" structure. 2. Fractals observations on Fibonacci levels. 3. Expects wave B down and Wave C up for an A-B-C corrective wave 2. Not mentioned: Consider Wave 2 to end prematurely if low is breached.
So, I've previously mentioned that Gold has a major cup-and-handle formation (linked to this idea) and that it is a very bullish formation. Price has since broken up and I spent some time to update on the Elliott Wave counts in this analysis. Here's what I expect Gold price to be for the near term: 1. It will move up for a 5th wave of a higher degree 3rd wave. 2....
Disclaimer 1: This is a bias view. I think that 20Y yield (as well as 10Y) will be going down. Disclaimer 2: Note that this is the 2nd time this year I am calling for longer duration yields to go down (linked in this analysis). Analysis portion: 1. H&S formation. 2. Completion of double combination of zig-zag.
It takes a long time for the world reserve currency to die, but it is an eventuality. A "When" and not a "IF". This analysis is based on my own bias reading using Elliott Waves, and also on a few other major issues: 1. The US debt of 34.2 Trillion. 2. The atrocities happening in the US and committed by the US worldwide (if you don't know what I am talking about,...
Tencent short based on: 1. Completion of 5 waves structure. 2. Fibonacci Extension level from wave 1. 3. RSI divergence. 4. 5-min corrective wave up.
I am expecting Nikkei to crash next week for a 3rd wave down.
I just watched "Dumb Money" and I thought to look at Robinhood's chart. What I found tells me that Robinhood will probably not see above $20.55 for a long time to come. Avoid this stock.
I've drawn the potential Elliott Wave structure here. And now I have a short bias based on that. Now there are 2 possible entry points in NVDA: a potential right shoulder formation that will give us a limit short price, and a break down stop order price.