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Oops

1794. <supplement to previous idea>Update to my previous post w.r.t. Goal Target and bigger picture count. Rather than Goal target of 1400 in the last idea where I mis-labled my count, I think this actually will go to 1794 to complete primary wave 5. 1794 is also the year of Elon's birth. Below Primary is wrong: The way I estimate projected waves 5 is not conventional, but it has worked for me. The method focuses on predicting the extension of 5 by finding the ratio such that a 2x2 matrix with parameters from the previous 4 wave relations has determinant = 0 . I have found that wave 5s tend to come to an end right after the orientation shifts from positive to negative.. and then the downside of the corrective waves accounts for this mathematically. So for example, up until 1794 the impulse matrix w.r.t TSLA primary will be positive, and then anything higher than 1794, which will generally only be realized briefly, will shift the invertibility of the matrix from positive to negative, and the corrective cycle will swiftly ensue. Cases where wave 5 ends prior to the inflection point tend to see a B wave in the form of an expanded flat extending above the inflection point which does the deed. This is why when I mis-labled my primary count originally I got a target of 1400, but doing the same method calculation with levels of this count (which I believe is correct) gives 1794.
NASDAQ:TSLALong
by JerryManders
5
TSLA Bollinger Band Snap and OOPS PatternWe recently shared posts on the nature of Bollinger Bands, Bollinger Band Snaps, and OOPS Patterns. NASDAQ:TSLA looks to be setting up for a possible move lower based on those technical indicators. On both July 2nd and July 6th, we have seen gaps to the upside, OOPS Patterns. Both days, the open of the bar was higher than the previous day's high. We have yet to retrace lower to close that gap. All of the price activity for the past two days have traded completely above the previous day's high. Also on July 2nd and July 6th, all trading activity has occurred above the 2 standard deviation Bollinger Band, a Bollinger Band Snap. Price does not generally trade above the Bollinger Bands for long, indicating a possible price pull back to inside the Bollinger Bands. These two indicators combined, add to the weight of a possible pullback on TSLA. You can choose to enter short now based on the Bollinger Band Snap or you can choose to place a sell stop order at the July 2nd high to enter based on the OOPS Pattern rules. If you are entering with an options trade, it's encouraged to allow plenty of time until expiration to reduce the rate of time value decay on the position and also allow time for TSLA to move in favor of your position.
NASDAQ:TSLAShort
by NewCycleTrading
1
The "OOPS Pattern"The “OOPS pattern” was developed by trader and author Larry Williams. It was named, according to Williams, for the all too common experience among traders when a broker would call his clients to report that a position was stopped out and say, “Oops, we lost.” This was due to the market gapping from one trading day to the next due to an overreaction from some sort of news or earnings announcement. When there is this type of overreaction, there is a reasonable probability of a move back to satisfy the OOPS. The system is programmed to create more profits than losses. When the market opens lower than the previous day’s low, a trader can place a buy-stop order at the previous day’s low price. When the market opens higher than the previous day’s high, a sell-stop order can be placed at the previous day’s high. Most traders recognize that gaps from one day’s close to the next day’s open occur for any number of reasons: news, rumor, earnings, etc. However, the move often exaggerates the impact of news. You see this all the time with earnings surprises. A big gap in the price (upward for positive surprises, downward for negative) is next offset with a move back to the previous trading level. This reversal is described as “ satisfying the OOPS pattern ”. Approximately 93% of the time, price will reverse to close the gap and satisfy the OOPS pattern. For example, the chart for NASDAQ:AMZN demonstrates how earnings surprises can create an OOPS pattern, followed by retracement. The circled sections reflect price behavior after earnings surprises. In end January, a positive report led to a large price gap moving about 180 points higher. The price also moved from trading at the lower Bollinger Band to moving above the upper Bollinger Band. It continued walking along the Bollinger Band resistance until moving lower and retracing back to satisfy the gap in price, the OOPS pattern. The second example was just as dramatic, but less obvious. Upon a negative earnings report being published, price fell about 130 points. But it recovered quickly, recovering all of the lost ground in about two weeks. The OOPS pattern is one form of retracement timing, allowing a swing trader to exploit market behavior. This also points to the maximum timing for leverage through opening of options trades. At such moments, single long calls or puts are likely to perform better than elsewhere on the chart. Short options may also be used as long as the price move is dramatic enough, and confirmed by other signals, to raise confidence as high as possible. To hedge risks, traders may also exploit the OOPS pattern with vertical spreads, synthetic stock positions, or collars.
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NASDAQ:AMZNEducation
by NewCycleTrading
16