maikisch

maikisch

As we await these final squiggles in the next couple weeks...it's time to give my followers some longer term perspective. The attached chart shows all potential pathways for price to take. I'll explain the most probable (My Primary Count) to least probable pathways (Alternative Counts). 1) Primary Count: (RED ARROWS) After some relentless selling SOL is now...

maikisch

I believe this high we will strike before embarking on new lows could happen as early as tomorrow. In reality I'm concerned we might not even tag the danger zone. Not much to update on today as earlier I called for upward pressure to consolidation. That would be the best way to describe today's price action. I'll update in the morning. Best to all. Chris

maikisch

This is not a nod to the 1980's TOP GUN movie. This morning as it write my update we are getting that selling reprieve I discussed yesterday. My sense is this could last a couple days...but it's early. There's strong resistance at $103.60. If we can make it over that we have to contend with the $106-$107 area...then we have $111. Based on how price has acted...

maikisch

Nathan Rothschild, a 19th-century British financier and member of the Rothschild banking family, is credited with saying that "the time to buy is when there's blood in the streets." Today was brutal for equity investors. Is there blood in the streets? My take is there some, but the blood is NOT puddleling...not yet. In as much as Solana was down, I get the...

maikisch

Attached chart says it all. Refer to my morning update for more context. I'll update more in detail in tonight's evening update. Best to all, Chris

maikisch

Today we should get clues on whether price intends to find a bottom and rally, or take a more direct route to new lows. The technical damage yesterday can not be understated. That is simply not how healthy bottoms retrace and rally to new highs. It's now more apparent our trip to $143 earlier in the month was a C wave rally. The question in mind remains...was...

maikisch

I was not anticipating this retrace to take out the previous low of $94.70. We had previously completed a 5 wave structure, AND PRICE WAS RETRACING IN A CORECTIVE FASHION IN 3 WAVES. Obviously my expectations was a move to the $111 level and then higher. Since price decided to drop much further I have had to re-evaluate my count. If the previous 5-wave...

maikisch

I'll have to update charts in the evening update but suffice to say last night's trading was a curve ball. It does change my primary count. This appears to be part of the larger wave 4 that is simply not done with us. This decline should be coming to an end and it's last squiggles should be complete by tomorrow. We should see one more low below $94. I will...

maikisch

Analysts and Traders require and utilize very different skill sets Since I analyze Solana using Elliott Wave Theory I will refer to that method within this topic. EWT is a series of rules governing market behavior developed by RN Elliott in 1938. en.wikipedia.org When one becomes familiar with these rules, one can apply them to most any market. I say most...

maikisch

Based on today's trading so far I'm moving our first clue target down from $106 to $103.59. With bottoms, we want to see price act decisively off of support and rally in 5 (micro) waves. Micro analyzing is best done on a 3 minute chart. We have some support in the area of $99.40 and then $98.60. A bounce off support, a breach of $103.59 in a micro 5 wave...

maikisch

Not much to update. Last night was, as expected, time to consolidate and for traders to look for clues this C of wave 2 has bottom. Have we bottomed? It's unlikely as this structure would look more complete with one more low (OML). We're looking for price to breach $106 for our first clue. I'll update...

maikisch

WILL THE REAL SLIM SHADY PLEASE STAND UP, PLEASE STAND UP, PLEASE STAND UP. My attempt at humor...but seriously we all need to pay close attention now. If there was ever a case for an alternative count, today was a great example. The Blue Count appears to be the one most probable as of now. So, what's next? First and foremost, all Solana traders should be ...

maikisch

Just a quick update before the work day begins. We have price stretching again with this B Wave now at $109.075. Is that the high for the day? I don't claim to know for sure. What I am confident about is there's nothing within this consolidation that is immediately bullish so I await clues for when the C wave down to my target area starts. IMPORTANT CLUE: ...

maikisch

Good morning. It appears this morning we're coming into the B wave area for a short term top. The ONLY difference between my BLUE Alternative and BLACK primary count is the amount of time we take to consolidate. In either circumstance we should reconcile this wave 2 bottom in our target area of $100-$103. If we get there today then clearly the blue alt count...

maikisch

My primary count is following the path...can I get my followers to post an Amen? I work hard for you guys. Show some love and post whatever you feel appropriate. Thanks guys. Lets get 20 comments on this post saying AMEN? Chris

maikisch

Just when I thought I would be denied the $109 level by .40 cents Solana follows through AND THEN SOME. Today we topped out just under $111. We want to see price stretching in the direction of the trend. Now, we're are clearly in our retrace portion of this initial wave up. As I have posted many times after an impulsive 5 wave structure we should see price...

maikisch

We got the one poke higher into $109 and now we're consolidating. Remember we're waiting for a 3 wave retrace and than take out last night's high. I'll give higher targets once that takes place. Best to all. Chris

maikisch

Well, my call to $109 from $94 so far came up .40 cents short. That's why I will not rule out one more poke higher before we get a wave 2 retrace. If we can correctively retrace in 3 waves down to the $105 to as much as $99 level, then take out today's high...its a major major buying opportunity. I don't want to get a ahead of myself, but I want those traders...