It got an initial pop nicely up to 170s, but then reversed sharply AHs breaking the 4/26 low. This could very well be a start to a 3 of (C) down, but possible it tries to revisit that high for "2" in RTH.
I would happily see this turn into "more than 2"...
Compare and contrast March 16 vs present time.This should help you with your process. Many names did textbook follow through and entering resistance/targets 👇3/16 Daily charts context: https://www.elliottwavetrader.net/trading-room/post/76703853/18 Weekly charts context: https://www.elliottwavetrader.
It's great to close out the year on a bang! 😎 We crushed the recent train rides via the recent Dec 20 swing lows + shared generously a bunch of bonus setups after suffering some drawdown in early DecA total of 17 out of 17 train rides, now all establishing daily higher lows + higher highs structure (many more setups if you've been riding along YTD)Enjoy your holidays comrades and we'll grow more together in 2022. Catch you on the next train in the New Year. Note: will be mostly on mobile rest of today and tomorrow🚄 Position Updates1. ES swing long from ES 4522 (Dec 20th entry) with 25% size remaining, trailing stop upgraded = ES 4765ES Partial Exits = 50% at 4722, 25% at 4782 Bonus section:2.
Weekend is a good time to evaluate your buy+sell rules...ask yourself, did you execute what your system said?We mostly followed this week's plan, took profits on a few megacap+large cap positions that we've been riding for a few weeks-months now, eg. $AAPL $ADBE $AMZN $PYPL $TSLA $NVDA $AMD $SE $NFLX $TSLA..etcRaised cash and waiting for a potential short-term resetManage risk...it's the only thing we can control in terms of outcomes.
Best In Breed, Line In Sand (feel free to bookmark)😎 Context: We rotated a big chunk of our portfolio into more US based megacaps + large caps in the past few weeks-months before it got overcrowded again. The risk vs reward potential was optimal and the general bull trend/theme into year end.Now, given that the market is obviously top-heavy in this current rotation, I'm willing to share a little on the "line in sand" levels for my publicly accessed best in breed threads. (cannot share everything like options alpha)Notes: my timeframe may be different from yours. Operating via a daily-weekly timeframe as most/all my best in breed picks have broke out/accelerated towards respective common targets +15-20%.
Here's a quick daily chart dump, sharing for free (no updates will be posted)NQ + AAPL+AMZN + FB +GOOGL +MSFT +TSLA daily charts....quick scan.5/6 mega cap stocks below daily 20EMA, only FB above and remain the strongest of the bunch.NQ broke below 13700 and opened up flood gates quickly, now 13400s...
Our recent setup in AMZN was a Fibonacci price cluster of support that was tested and held on 4/22. The zone included a symmetry projection, a .618 retracement and a 1.272 extension.Prior to earnings we already just about met target 2 at the 3519 area. No need to hold through the crapshoot of earnings. At this point we've seen a rally of 252.55 from the 4/22 low. Now we are closer to levels where we can anticipate a possible pullback.
AAPLonly produced a micro 3 waves up into yesterday's high, so unless red wave (v) is starting off with a leading diagonal, probabilities are currently in favor of the blue path and this bounce being a (b)-wave. Can still see another near-term leg higher in wave c of (b).
Looks like yesterday's low may have been "close enough" to complete wave (iv) in red or wave (a) of the larger iv in blue. Now price needs to clear 224 - 226.50 next if it intends to head toward ~245 as red wave (v), otherwise reversing from there opens the door to wave (c) of iv down in blue.
AAPL is approaching the minimum expected target support for this pullback, between 214.20 - 206.55. Assuming price tests and turns up from that support, it should complete either wave (a) of iv under the blue count or all of red wave (iv).
AAPL entering into the overall target region for wave (c) of iii, but the price structure seems to argue best for this still being wave iii of (c), and allowing for another iv and v before it completes.
AAPL has been a star coverage list name of Stock Wavessince the start of the year, up almost 40% since bottoming in our target back in February and up 15% since calling the (b)-wave low in June. Looking for the next local high between 212 - 222 as wave iii of 5.
Nice reversal in AAPL today and can easily countthe wave (b) of iii as complete with price now starting wave (c) of iii and heading toward 205 - 212 next. However, need a break above 188.50 next to confirm.
I am incredibly happy to have discovered this community, it is giving me support/resistances and risk managed patterns to trade. 8th consecutive month in green in 2022, without stress !!! Avi you taught me 100% of my trading by being crystal clear, always honest and providing alternatives. many thanks
"Sylvain" - Trading Room2022-09-03
I’m convinced, EW theory is THE best way to approach markets for investing/trading. Whether you’re scalping micro moves, day trading swing trading or long term investing, EW always has you covered. Most people have a lens or a way they view the market but how consistent over time is it? For myself I like fractals and have made life changing trades off them. But as my trading days add up [and] the value of EW becomes clearer, especially when coupled with fib #s, I have to give credit to you Avi for this!
"bullhammer" - Trading Room2022-05-05
Love this community! If you have a mindset to learn, this place is a gold mine.
""FletchFFletch" - Trading Room" - 2021-05-07
Unparalleled value...can't even imagine trying to trade without this service.
""GoodLuckChuck" - Trading Room" - 2021-05-05
"Having EWT sometimes almost feels like having a cheat sheet when it comes to discerning market behavior."
"@TsaiMaxim" - Twitter2023-01-23
"Thanks Avi and all honored analysts, as a retail trader, EWT really changed my life."
"Ultima" - Trading Room2022-09-09
I cannot imagine a better value for the money out there than what you provide. Nothing even close to your product.
"Falcon16" - Trading Room2022-05-12
In about twenty years learning in the markets the most gifted, talented person in the world, regarding markets analysis, I've encountered is Avi Gilburt
""FALLACY_NAVIGATOR" - Trading Room" - 2021-04-30
Your team are the best traders & analysts. truly a world class trading site.
""MambaMentality" - Trading Room" - 2021-03-04
"Avi, your fib ratios have been an absolute game changer for me....Being able to confidently map out the story and outline is truly amazing."