Last week I alluded to the fact that this could have been wave 5 of (1). At the time, it didn't seem likely because we already had a retrace into the 0.618. Also, MACD seemed as if it was taking off and poised to make a new high for wave (3). It then started to sputter out on the 1H chart. We made it up to my 1.786 line @ $299 and passed it by 0.29 cents @ $299.29, then dropped like a rock. From the strength it has shown to the downside, it seems to be carving out an A wave. I would expect b wave to start a retracement sometime soon. Once we have an A-B wave I can then make a narrower target for our C wave. Until then all I can mark is a large general area one would expect a move such as this to end.
On the 1H chart MACD has already made a new local low and on the 4H it has dropped hard and fast. These are both signs of an A wave. This retrace can be fast due to my thought process of our next move being (3) of 3. It is also corrective in nature so it can be elongated and drawn out. The important thing to watch is structure. I may not always be right on my overall degree, but you cannot argue with my results. I always use structure to guide my entries and exits so when I enter, it is near the "local" bottom and results in a free trade at minimum. Take this recent Tesla trade for instance. I entered at the end of the move up and still made $19/share due to WHERE i entered.
THAT'S A 7% PROFIT IN 8 DAYS!!!! Even with the wrong degree. I only enter when the risk reward is in my favor, and I ALWAYS use stops. Stops just secured these profits for me without me needing to worry about it. Stops combined with my entry process = Less stress = more successful trades = more money. These are the keys to success. Patience is key, I plan on entering again when this retrace is done. But I need it to give me an A-B wave so I know where C will most likely end, thus making my next entry point.
As always, I will inform y'all when I place another trade. Good luck everyone and don't go getting FOMO on me. Be patient and wait for a good entry point.
Bonam Fortunam,
--Tyler
On the 1H chart MACD has already made a new local low and on the 4H it has dropped hard and fast. These are both signs of an A wave. This retrace can be fast due to my thought process of our next move being (3) of 3. It is also corrective in nature so it can be elongated and drawn out. The important thing to watch is structure. I may not always be right on my overall degree, but you cannot argue with my results. I always use structure to guide my entries and exits so when I enter, it is near the "local" bottom and results in a free trade at minimum. Take this recent Tesla trade for instance. I entered at the end of the move up and still made $19/share due to WHERE i entered.
THAT'S A 7% PROFIT IN 8 DAYS!!!! Even with the wrong degree. I only enter when the risk reward is in my favor, and I ALWAYS use stops. Stops just secured these profits for me without me needing to worry about it. Stops combined with my entry process = Less stress = more successful trades = more money. These are the keys to success. Patience is key, I plan on entering again when this retrace is done. But I need it to give me an A-B wave so I know where C will most likely end, thus making my next entry point.
As always, I will inform y'all when I place another trade. Good luck everyone and don't go getting FOMO on me. Be patient and wait for a good entry point.
Bonam Fortunam,
--Tyler
評論:
I'm watching Tesla today even though I haven't made a new post on it. So far, it looks as though we may be done with our A wave and have possibly begun our B wave retrace. When I get more data, I will make a new post updating the count and where we are.
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Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
