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Buythedip

The Finishing Moves For This WeekAfter putting up my initial buckshot for the next month, some movement has come into picture. I have Minor wave 1 ended on September 30 at 1400 which had it last just over 31 trading hours. This is 3 trading days earlier than my last forecast. This could mean I am wrong now, was previously, am still wrong, or most of my original forecast has slipped left and the marks will occur sooner than originally projected. A three day slide now brings the market top to the day of or day prior to Election Day 2020. This is absolutely possible with the likely unknowns set to occur November 3. We could be holding our breath for an outcome longer than we might have expected. I have forecasted Minor wave 2's movement which are set to find its bottom before the end of this week. Minor wave 2's for the index tend to retrace the length of wave 1 by 33-68%. A 40% retracement is closer to the mean and average while remaining conservative. This conservative estimate would have Minor wave 2 last around 12 hours. Another significant statistic is that wave 1 is around 1.84 times the length of wave 2 which equates to roughly 14.5 hours for this wave 2. Lastly, Minor wave 1 tends to make up 22% of the length of the larger wave (Intermediate wave 5) it resides inside. Likewise, wave 2 makes up around 9.5% of that larger wave. Based on wave 1's length and possible contribution to the larger wave, Intermediate wave 5 could last around 145 hours and wave 2 could be 13 of them (SIDENOTE: 145 hours ends on October 22). I am projecting Minor wave 2 to last around 13.4 hours. The movement for Minor wave 2 seemed much less complex to locate. A fairly common wave 2 retracement is around 38% which is also near the common Fibonacci retracement of 38.2%. This could have wave 2 drop 69.96 points. Wave 1's movement in relation to the total movement of its larger Intermediate wave is around 45% while wave 2 is around 17%. This could mean Intermediate wave 5 gains around 409.13 points and Minor wave 2 only drops 69.55 (SIDENOTE: 409.13 points puts the top around 3618.58). Lastly, wave 1 tends to move 2.37 times wave 2 which could see a 77.68 point drop for Minor wave 2. I am forecasting a drop of roughly 70.56. Based on the forecasts, I have further attempted to identify the movement of Minute waves A, B, and C. Wave A tends to make up 35.54% of the larger wave's movement while B makes up 28.13% and C is 37.24%. Wave A tends to move 73.86% of the overall move, while B reverses course for 44.60% and C is 67.83%. I have placed the A, B, and 2 (Minor wave C) roughly when and where the waves should change course. This is setting up for a truly great entry point to "buy the dip." Minor wave 3 begins next week and could make for a few weeks of major gains. The catalyst? COVID stimulus is not dead yet and could find an agreement before Congressional recess this weekend or early next week.
SP:SPXLong
by StockSignaler
This is how the week should play out.My initial projection from last weekend had Minor Wave B ending by the lunch hour on September 17. With more data, my projection has moved to the right a bit. It looks like the Fed press conference ending Minute wave A and we are in the early stages of Minute wave B. Fortunately it should be short lived. I project this to end with a bottom around 3360 with about 3 hours left to trade on September 17. Based on hitting that specific mark, I am projecting Minute wave C and ultimately Minor wave B to end around 3470 about one day later. I am still projecting the next down swing to begin before the week ends. Another looser projection is the end of Minor wave B based solely on Minor wave A's movement. This has Minor wave B ending near the close of trade on September 17. I no longer assess this spot to be the end. I will write again this weekend, but I am still bearish for the next two weeks before we are ready to test the ATH in mid to late October. Follow and stay tuned for more!
SP:SPXLong
by StockSignaler
7
WHALES ACCUMULATING AT 10K ZONE (buy signal) -Yurlo (please give these visuals a thumbs up if you like the creativity of my mind) Last night I took a short around 10500, I closed around 10000 & opened a small low leveraged long. It seems to me that whales are clearly accumulating the 10k level because every time we dump below 10k it gets bought up SIGNIFICANTLY & if you haven't noticed the last dump which went below 10k briefly reacted this way as well. Also, the latest CME gap is at 10620. (another at 9600) I'll buy the 9650 CME gap if we wick there as well, as well as 9k if we test that zone. Last night the price action was bearish, not it's looking bullish going into this Saturday. I'll be building a long position for when we test closer to current CME gap (10620) before looking for a move that will hold below 10k. Bitcoin doesn't look ready to tap the 9600 CME gap and I'm not going to force a trade or bias, instead I'll join the trend and ride the waves. Hopefully see you at 11055 & remember: we can still visit 11700 & it still would be considered a lower high and bearish from the "top" HOWEVER, if that validation point #3 got wiped out by bulls it would be clear 12.5k was NOT the top & whales wanted to enjoy a massive shakeout before continuing. Apart of being a day trader is NOT BEING MARRIED TO YOUR POSITIONS AND AS YOU CAN CLEARLY SEE I'VE BEEN MAKING MONEY ON BOTH SIDES LIKE A REAL TRADER. FUCK BEING A BULL OR A BEAR, I'M A DAY TRADER. END OF STORY.
COINBASE:BTCUSDLong
by Yurlo
37
Market Firesale! - Buy the dip?The broad indices (S&P 500, Dow Jones Industrial Average, and the Nasdaq) sold off today led be profit taking in the tech sector... at least that's the story. However, regardless of the reason, the facts remain that prices are considerably lower than where they were yesterday! You can take a look at the individual stocks that comprise any one of these indices and find that the majority of them are down. The only question that remains is will there be a continued selloff carrying into tomorrow? or is this our long awaited correction? If this is our correction, do we buy the dip? If anyone attempts to answer this question telling you that they know what will happen tomorrow, they're lying. All of my indicators could by flashing BUY BUY BUY and tomorrow could still up being another down day. That said, take a look at the chart of SPY above. It has been a while since we have neared the 21 day EMA. It has yet to reach it but it came very close today. These EMAs are not self fulfilling by themselves... only if enough people take action on them. So more than likely we could see a continued sell off to the 21 EMA tomorrow. I think the 21 EMA is where the SPY is heading. We have had 5 months straight months of gains... Options at this point are overpriced since the VIX is spiking as a result of the selloff. So bulls should think about selling put credit spreads rather than buying calls out right. If we pull back to the 21 day EMA... I think the markets will take their sweet time moving back up. Common option strategies for sideways moving markets include selling iron condors, iron butterflies, and straddles... These strategies might not be a bad idea since Theta decay is on your side. If volatility is more your thing, then consider buying straddles, strangles, or long iron condors... but be prepared to pay a hefty price! Rather than trading options, I think buying the dip could be considered for long term stock trading plans...mainly because stocks don't have an expiration date like options do. Take advantage of this temporary dip and take a look at your favorite stocks. Ask yourself if you are happy with the current prices. Imagine you buy the stock today and then tomorrow or even in the next few weeks, the stock drops more. Can you handle seeing that? If you are not sure what you should do, try reaching out to a trade coach for some assistance. Trading involves risks... so should you buy the dip? Only you can answer that question.
AMEX:SPY
by UnknownUnicorn6775423
Ascending triangle = BREAK UP (BUY THE DIP & HODL TO 13.8k)Good afternoon folks - Yurlo Hit that like button for me if you appreciate these calls & charts 👍👍👍👍 Did you catch the bottom? 11.8k - 12k looks like it's consolidating and turning into strong support before we break through 12.2k & 12.4k. Short term target: 12.7k Moving Averages: 20 / 12013 50 / 12083 100 / 12124 200 / 12087 (13.3k Fibonacci Level 0.618 & 13.8k target #2) (12.2k will become support in the near future) Remember guys, stick to your trading plan and TA. (if you go against your TA & react based on your thinking/emotion the market will win and you lose) Be safe, and enjoy the volatility. Gonna be glorious when we reach new ATH's!!! I love you all. <3
BITSTAMP:BTCUSDLong
by Yurlo
16
DONT BE GREEDY, TAKE PROFITS & BUY THE NEXT BUY (11.9k - 12.1k) I've got orders around the 12k area (BUY) In bull markets we don't place sell orders or short (IMO) I'll be taking profits, setting buy orders at key levels (support), and then taking a mental break for the day. If you really think the market will allow this much free helicopter money to flow around I'd consider rethinking. We've already seen a $700 USD jump in price today. (I think there will be buy opportunities at lower levels, although I could be wrong considering the bulls look strong) I'll post an update in a few hours, going to clear my head and make some breakfast. Enjoy your day. IMO
BITFINEX:BTCUSDLong
by Yurlo
4
7 Reasons to buy DXLG now!DXLG Destination XL Group, Inc. is a leader retailer in Big & Tall men's apparel. Company is publicly traded since 1988 The Monthly chart shows a buy setup in 7 different aspects 1) Massive buy volume in the month of July. Buyers are mostly institutions as you can see in the following link. As of today 70% of shares are held by institutional funds. i.imgur.com 2) Absolute third bottom since 1998. The last time DXLG was at this price was during 2009 crisis. This is the definition of buying the dip. 3) Tom Demark Sequence reached 9th sequence. For those who know about TD Seq , numbers 8 and 9 indicate a reversal 4) 3 different divergences are formed at this level. MACD , VWMacd & MFI . This means price has to be higher according to these indicators but instead it went lower and created a divergence 5) Williams Vix Fix Indicator is used to identify the bottom of a trends. As you can see from the green bars that we reached the bottom and a reversal is imminent. 6) SToch RSI is bottomed and now picking up 7) MACD in the red area heading towards green Cash Runway Analysis Stable Cash Runway: Whilst unprofitable DXLG has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level. Forecast Cash Runway: DXLG is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 50.4% per year. Company got hit hard by COVID-19. Brick & Mortar stores had to close temporarily but sales continued through website and Amazon.com In a medium term trade(1 - 2months) you can target a reasonable profit of over +25%, the longer you hold, obviously the more profitable it gets according to the past data. As you can see the stock traded between $0.3 / $15 in the past. Please do you own due diligence and remember it's a chaotic year, so always look for safe plays.
NASDAQ:DXLGLong
by Kryptolinks