Frozenlock

Frozenlock

My current EW count leaves me believing we might go down shortly. I'm still unsure if I'll short at current price however... I would like a little push higher to improve the risk/reward ratio.

Frozenlock

My current EW count leaves me believing we might go down shortly. I'm still unsure if I'll short at current price however... I would like a little push higher to improve the risk/reward ratio.

Frozenlock

Everything points towards a move down. We even have a nice head and shoulders formation at the top (still not confirmed). One could also use the recent high ($918) as a stop to get ~7 risk/reward ratio. While going higher would not invalidate the ending diagonal count, it would add some arguments against this scenario.

Frozenlock

The recent move to the sub $24 could be considered a valid ABC. There's 2 guidelines pointing towards this price as an end: - In a zigzag, A is often equal to C. - Inside C, the end of the 5th waves at this price would follow the guideline saying that when the 3rd wave is the longest, the 1st and 5th are often of the same length. There is, however, an argument...

Frozenlock

We pretty much have completed 5 waves up from my long entry at ~$20.50. My preferred count shows the recent trend up as an ABC, which means we should start going back down again. Of course, rather than an ABC, this could be an impulse move, leaving us with another potential move up. Regardless, short term we probably are going down. There's a bearish divergence...

Frozenlock

This is my current preferred EW count.

Frozenlock

A little count to see where we stand.

Frozenlock

If my count is correct, the price should go up for some time (end of the year?) and then proceed to do the last wave down.

Frozenlock

This is a long term Elliott Waves count in order to know where we are. In the most recent days, the C of 1 might require a little move further down. It's also possible possible that this C is only a A of a bigger correction. Either way, a move up should follow shortly.

Frozenlock

*IF* we are in a new uptrend, the recent pullback is probably the lowest you'll be able to buy for a long while.

Frozenlock

This is my current 4 scenarios. 3 of them say to stay long. However, if $97.45 is breached, then the major count on which all of this is based is wrong.... GET OUT!

Frozenlock

Just a little test. Will most likely fail.

Frozenlock

Seems to me we are going to start the wave 3 of the correction very soon.

Frozenlock

This is my current EW count. We (might) have 1 wave down completed and will now start the second one.

Frozenlock

Looks like the last move up was an impulse (With a 1 -5 move) We now have the A and B completed. This is how I think the C will play out. But as we've seen last time, I've been dead wrong. You might want to go long now. :-)

Frozenlock

My first attempt at Elliot Wave theory. I think we might be on the brink of completing the C correction. (Inside a 4 compulsion) We would then plunge downward to complete the 5th compulsion.