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.
Riding The Stock Waves: Technical Update On AmazonAmazon (AMZN) had a massive year in 2020. The tech behemoth gained 76% on the year and rallied 118% from the March lows into the early September highs, resoundingly outperforming the Nasdaq-100 Index (NDX), of which it is the third biggest component stock, only following Apple (NASDAQ:AAPL) and Microsoft (NASDAQ:MSFT). However, so far in 2021, while the NDX is up 5.37% as of the market close on Friday, Feb. 19, AMZN is flat on the year (down 0.22%). We see this year-to-date underperformance as likely short lived and expect AMZN to renew its outperformance in the next larger rally.Fundamentally speaking, AMZN is quite solid. In StockWaves at ElliotWaveTrader.
I know im the lone wolf...here at 3480+
but there are a ton of A-B i-ii potential setups down right now.....
i could see a big down week this week...or next week....so i took some this friday and next friday puts in the indexes based on this tape read....and possible waterfall roll....
Zac posted AMZN earlier already, and I agree with him that one more pop can still be seen before it starts to fade. However, it looks much closer to another local top than setup for further sustained upside to me, so I actually lean a little more toward dropping from here as wave iv of 5 with the black fibs as target support.
Elliott Wave/StockWaves predicts AMZNtechnical difficulties on PrimeDay!!!
StockWaveswas looking for a fade as a "nano" ivthas AMZNcame into the next Fib resistance for nanoiii. Support 1780s for a vth of 5 of (3) up toward 1900.
Ok I had AMZNalready pretty done...but here is the same as GOOGL and how it would align over the next year as well....
also Note the LT circle 3 target is $1280 (LT chart below)
then the daily primary chart shows the path of how we get there.....
5 years ago
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