Long | VGNASDAQ:VG
Possible Scenario: LONG
Evidence: Price Action
This is my idea and could be wrong 100%,
TP1 ~12.5
TP2 ~13
CALLS for 21 May Strike 13$
VG
Yet Another Short for the Coming Bear MarketWhen you fail your upward channel and plummet more than two standard deviations in the greatest bull market of all time, that can't be good for your long term prospects.
I have an algorithm that pulls out these channel backtest stocks as they happen and shorts them. Let's see how well this does.
Vonage Holdings (VG) short.All description on the chart.
Please, don't forget to like and follow.
Thank you.
Vonage Holdings (VG) long.All description on the chart.
Please, don't forget to like and follow.
Thank you.
VG - Want some more? - Correction Over! Long! Pulled back just like we thought, and has just completed the 3rd leg a Elliot wave A-B-C corrective wave. Also is wave 4 of the bigger wave. We have piercing pattern candle completed too, with a bullish confirming candle.
Elliot says wave 4 cannot retrace into the high of wave one, so if our count is correct, we have a nice tight stop of $.15 to $.20 and we can reevaluate.
People complain about this stock, but IMO it is acting just like it should according to both Elliot wave and XABCD/Harmonic and fib traders.
VG - No Country for Weak Men - Big Boys Want You to SellThis is a new idea but relates to my earlier idea. Patience! I have drawn a a classic harmonic AB=CD pattern. I quote ( paraphrase ) from Carney's book, "....it's hard to make yourself believe the stock will reverse because the sell off has been dramatic and the stock appears weak....but you must sell at D...not believing this initially cost me a lot of money"
So in addition to the pattern, you have Connors RSI approaching 10 level again. At this level you have bullish candle sticks - hammer, engulfing, and yesterday a doji. The director just bought some stock, not much, hey. And they just announced the Google thing. And then there is the Elliot Wave Count, which doesn't break any rules and meets many of the guidlelines for wave formation. Finally, this is an area of support that has held since the summer of 2015.
So everyone says it's going down, but all signs point up. This is the time to buy, and sadly when most people sell and get out. Am I talking myself into staying in this trade? Perhaps, but my strategy is clipping along at 83% success, and one thing I know is - you must EXECUTE if your system says to. can't listen to the hand wringers and stock twits. If you're wrong, you are wrong, can't win em all.
Look, for at least a move to the C point - the 61.8 fib level 7$. We could see $9 - the 1.618 level and a target for a wave III move.
VG - If You Can Believe it - BUY! This is one where everything in you screams DON'T BUY. Here's why I did. I'm in @ $6.35 two days ago when My Connors 2 Period RSI strategy ( yellow squares ) met all conditions, AND it had just completed a nice XABCD pattern I normally wait for candle reversal on the daily, but the EW count on the hourly looked good - starting wave 3 up, so I entered.
As you can see, I should have waited. So I'm down about 6%. No worries. When I'm wrong, I'm wrong, I have my stops. Turns out we most likely just completed a corrective wave A-B-C of larger wave II down, and we are starting Wave III ! A hammer is forming now, and the A-B-C leg Has come down into the area of wave 4, an Elliot guideline. of the prior impulse leg. Also, a a strong area of support.
So, I didn't add any to my position, but I think we can see it move to at least $6,80. Sometimes the hardest thing to do is to believe what you see and act on it. That's why we have our rules, patterns, and indicators.
