initmx

initmx Updated 

Analysis It's been struggle to analyze this one cause it requires a totally different approach. There is a strong resistance around the top red and white line, which might be a sign of this short term uptrend, given that the wave count is correct, otherwise this is invalid. Managed to find five waves in. Anticipating that the correction will at least...

initmx

Ideal trading setup 1. round bottom with a small retracement What you would want to see on a classic cup and handle(cnh) is a nice round bottom with followed by a slight retracement. 2. Volume breakout After the formation of the cnh, the market will try to make a run, temporarily breaking the horizontal resistance. 3. Consolidation ...

initmx

Cosmos Analysis If this be a cnh, it would be my first genuine one and will ride it with pleasure. Already opened an initial position though I'm certain the bottom is not in yet. First long after weeks, and I must say, the feeling is weird. Not staying till the breakout, the longest I can will be till the yellow line. This is more of a swing considering...

initmx

Analysis The correction on the LTFs is almost over, expecting a new wave up. If we take a look at the 4H RSI, we have a bullish a strong bullish divergence. The drop correction will likely end at the red line, that makes a decent retracement already, but have two other fib retracement levels(white lines) as potential support for a relatively good reversal ...

initmx

Analysis Breaking beyond the yellow line nullifies this bias. A pullback is to follow, at least to the white line. Pulling the fib retracement from the yellow line to the beginning of one confirms there is likely going to be a bounce to the area in question. This is a short term outlook, and we might happen to be in a correction, in which case there we go...

initmx

Scenario 1: We fail touch the yellow line but fail to break it, expectations are a pullback that is likely to send us to the red line, and at most the red line. In whatever case, this gives a window for a nice short. The idea behind is we are playing the eliiott wave(ew) 1-5, meaning shorting the correction is ideal because the wave up is complete and then a...

initmx

if D then: major drop to E. else: slight pump to the rectangle (5) before the correction. Sitting on the sidelines to see where the market takes us.

initmx Updated 

I have a bad track record for hns, but if this be it, I'll look for a short when it hits the rectangle If that doesn't unfold, looking for a short again.

initmx Updated 

Note: time sensitive looking for a bounce on the diagonal support tight sl 2% scalp

initmx Updated 

Direction: short entry triggers: bounce at resistance 1% scalp

initmx Updated 

Given the trend unfolds the way portrayed, Looking for a short around the green line abc correction shorting wave C

initmx

A Simple plan for a self defeating symmetrical triangle. If your are not sure as to which side its going to break to, you can create a dual trading plan. For instance if c is penetrated then a short will be triggered, conversely a long position will be opened when d hits. This is one ewt you can never loose in 1) its easy to identify and 2) it gives you the...

initmx Updated 

Scenario 3: flat correction Going above D invalidates the short setup and would look for a scalp long. Dual trading (always prepared for any outcome)

initmx Updated 

Scenario 1: We are playing the motive wave, if that's the case, wave 4 unfolding in a contracting(symmetrical) triangle will break down completing the motive motion. Scenario 2: Given we are in a corrective A-C, I see us taking the downward side as well.

initmx

if the price crosses below the red line, my scalp becomes invalidated. Otherwise its holding fine for now.

initmx

trade setup direction: long entry triggers: ewt count descending channel local support tp: ewt 4 sl: slightly below 3

initmx

direction: short entry bias: hns ewt count sl: slightly above the swing high Note: shorting hard, tp levels mentioned in the chart

initmx

direction: long entry triggers: supply absorbing break out bullish divergence falling wedges SL: below the swing low tp: 2% up Note: expecting a retest of 43.2k