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Will the Airlines finally take off??GREETINGS! I've made several posts on Rolls Royce and Raytheon the past few months. Ultimately, we remain bullish for another leg up, but the back-and-forth price action has been exhausting. Why are we bullish? Well, my strategies involve a simplistic basis of eliot wave theory which shows airlines and major indices have another leg, but I also consider other non-voodoo indicators. For example, Look at the put/call ratio or general market sentiment... EVERYONE IS BEARISH . The contrarian should be salivating. I'm here to provide an update on the RTX play. The primary count is still active, although price targets have changed slightly from the previous post (see related ideas below to see the DD). Here I think we are compressing into a triangle wave 4 of C, resulting in a delayed takeoff. I have the 1.272 extension at $95, but we could go to the 1.618 near $105 which would also result in a sharp peak out of the channel, which we often look for for blow-off tops. Triangles can be annoying to trade, depending on your time commitment available for your capital to be tied-up. This is because intermediate waves often consist of fakeouts! In this case, I think it's time to accumulate! I will be purchasing RYCEY and RTX (at these prices) as my primary exposure to the airline sector. Good luck!
NYSE:RTXLong
by warrenbudget
2
21/09/22 - Gold (XAUUSD) First Short then 1798 - by RT_Trading_Hi Traders, I'm happy to provide you a new trading idea according to Gold (XAUUSD). First of all I want you to inform about the upcoming FOMC event that is going to have major impacts on the Stock and Commodity Markets. Therefore I suggest you to avoid the risk of being on the wrong side of the Market and stay out until the release of the FOMC minutes. Nonetheless, here is my latest idea about Gold: Gold is currently moving in a ABC Elliot-Wave formation which occurs in corrective patterns. Those corrective patterns can happen in Wave 2, 4 or ABC itself after 5 Impulsive waves. I assume, that we are currently in Wave 1 of larger Wave 3. This is why I expect a deeper correction. Not always, but often it is the case that wave 2 retraces at least 50% of the previous move. I measured the extension of possible Wave C impact using Fibonacci-Extensions. This gives me relevant impacts at C = A and C = 1.618 of A. Those areas are highlighted in grey. I'm confident that we will see a big reaction on those areas - This is why I'm have multiple buying orders at those areas calling for #1798 next. Day Traders can use those targets and open shorts in-between. Anyways, I suggest to be safe, stay calm, place those buy orders and wait how the Market responds to FOMC. Let me know what you think! This is no Financial Advise. RL from RT_Trading_
OANDA:XAUUSDLong
by RT_Trading_
2
21/09/20 - Gold (XAUUSD) Still holding my longs - by RT_Trading_Hi Traders, As you can see, gold has found its way back to my entry. I honestly did not expect such a deep correction of the inner wave 2. However, that does not mean that a 90% correction of wave 2 is not possible. As we have not made a new low, I am confident that we will hit new highs above the 1767 level in the coming week. Why am I sticking to my bullish count? 1. The Double-Zig-Zag WXY consists of three waves each. 2. Wave Y corresponds to an 1.618 extension. From this point on, sell orders were triggered. C can extend a maximum of 1,618. 3. Wave 5 of C corresponds to an extension of 2,618. All of these points only let me infer the bullish count. I think Monday should tell us whether I'm right or not. If my SL will be hit, my count is due anyway and we are definitely in wave 4 or already in wave 5 of C, which would invalidate my analysis. If this is the case , I will provide you with a new analysis that will reflect the optimal entry point for wave 1. I wish you all the best for the coming week. If you have any questions, feel free to write us a DM. We are happy to answer them. This is not financial advice. RL from RT_Trading
OANDA:XAUUSDLong
by RT_Trading_
21/09/17 Gold (XAUUSD) - Daily Outlook - by RT-TradingDear Traders, As expected in my previous analysis, gold is receiving support in the zones I have identified. Based on my wave count, I assume that wave C is done correcting , which is why I now assume an impulsive bullish wave. This wave was confirmed for me when the area around 50% (which was also my entry), was pushed off. This tells me that inner wave 2 has finished correcting which means we are now in wave 3. The question now is where wave 3 will end . I have marked you gray areas here. I assume that wave 3 will target at least the area around 1772, which corresponds to an extension of 1.618 or, in the best case, the area around 1786, which corresponds to an extension of 2.618. I am very confident that we will see the area around 1772. As always, I'm looking forward to your feedback! Raffa from RT-Trading
OANDA:XAUUSDLong
by RT_Trading_
2
21/09/16 XAUUSD - EW-Outlook by RT-Trading My bullish Elliot Waves Outlook on Gold: Gold suffered a strong sell-off today September 16th due to technical issues. As we can see, gold has undergone an unprecedented ABC correction that I assume will stop in the areas highlighted in gray. I remain very confident that gold will gain tremendous bullish momentum in the coming weeks. Hence my statement: See this sale as an enormous opportunity. Be critical on this drop, pay attention to the technical pattern and react accordingly. Keep in mind: After 5 impulsive waves that lead to major wave one, there always follow 3 correction waves that lead to major wave two. Wave two reacts at least 50% of wave one. We landed exactly on this level. Therefore I assume the bullish trend to continue from the highlighted areas. Please leave me your opinion. Raffa from RT
OANDA:XAUUSDLong
by RT_Trading_
3
Gold pointing towards 1965 $Dear traders, I'm happy to show you my update on the gold price. Gold has finally managed to break out of the down-trend of the last few months. Whether Jerome Powell's speech was the catalyst for it is, in my opinion, debatable, since I saw this outbreak come apart from this catalyst. So where are we? The price of gold closed at around $ 1,817. With the opening on Monday, I expect further buying impulses from the Asian stock exchange, which should catapult us towards the $ 1830 mark. Many will expect strong resistance at this point - however, I think that we should break this area after a short accumulation phase. As soon as the stops above this range at around $ 1840 are triggered, the way towards $ 1965 should be paved in the form of strong impulses. How do I get my final goal of $ 1965? Since waves 1 and 3 are of the same length, I assume that wave 5 is extended at the 162% Fibonacci level. The result is $ 1965 and can be determined with the help of Fibacci timeframes, which gives us an impact around September-October. Let me know what you think. Piece, Raffa
OANDA:XAUUSDLong
by RaffaeleL
12