TheHappyCrab

TheHappyCrab

I-H/S Looks like beginning wave 3 Clear retest of previous breakout at 6.40 (6.21 low of retest was just below 0.5 fib from June low) Holding above 200ma Last few days held 9ema, sitting right there now. Possible ABC correction brings it back to the 200ma at 6.63 (better R/R) If correct, wave three would put this at 12.77 (1.618 fib) Normally would expect a...

TheHappyCrab

This won't be staying in this compression for long.

TheHappyCrab

Swing Trade Idea. Wave (3) projections: Minimum - $6.60 (1.272 fib ext) Tgt 1 - $7.57 (1.618 feb ext) - lines up to 2015 consolidation area Tgt 2 - 10.38 (2.618 fib ext) - lines up to 2010 consolidation area Zoom this out on the weekly to note two previous major highs. Serious upside potential depending on timeframe. This is an easy swing. Definte possible long...

TheHappyCrab

Swing Trade Idea. Previous concolidation area of late March 2020/1st week of April 2020 highlighted. Previous gap also falls in the .618-.786 fib retracement. Currently working on A-B-C correction to complete wave (2). If beginning of wave (3) is accurate and clear upper trend line then shorter term tgts of: Minimum - $6.60 (1.272 fib) Tgt 1 - $7.57 (1.618...

TheHappyCrab

1.272 fib ext is a minimum profit tgt. 1.618 is minimum ideal for wave 3 measurement and lines up with prior consolidation area which should act as resistance. Also possible for 2.618 fib ext for wave 3 depending on price action at first resistance.

TheHappyCrab

Pun intended. Weed stocks getting a nice rally with the US elections and several states moving to legalize. Just got above the 200dma. With this latest rally it pushed thru the consolidation over the summer and is retracing now. I expect a test of the top of that as support...and notice the .618-.786 fib lines right up with a gap. This would be a logical place...

TheHappyCrab

Great buy here at 285, retest of last pop. Stop under 280 (gap). Tgt 295, 301, 305

TheHappyCrab

This is why levels matter and opinions don't. Wait for the market to come to you. Chasing it and trading on assumptions is a loser's game.

TheHappyCrab

I did. Notes on chart. El Photo Grande!!!

TheHappyCrab

Notes on chart

TheHappyCrab

Big test coming. How will the day close?

TheHappyCrab

Not a fan of FB, but looks good to $280 technically

TheHappyCrab

If the sector is looking at an overall rise, then go with the leader $GS. Here's a less expensive play with some good technicals. Fib entry for long looks good. I'm no expert on EW, but this is my count - beginning wave 5

TheHappyCrab

Now that the banking money laundering scandal has been priced in I am back to long on financials in general. This one could be a good play for short term.

TheHappyCrab

Closer look on HII

TheHappyCrab

Key level between white line levels. Looks like a double bottom from Fib gold zone level (0.5 - 0.618). Good chance we are seeing a bounce from the bottom of this falling wedge. Tight stop or wait to confirm for long.

TheHappyCrab

Notes on chart

TheHappyCrab

Volatility likely not over. Possible balance day after strong rally last Friday. Likely revisit of 3340. Look for price action at LVN's. Overall I am bullish and believe we have put in a bottom on this correction from ATH. I believe overall we continue higher from here.