pkealoha76

pkealoha76

Looks like a wave 5 here. Got all the symptoms. 1.618 min extension of the wave 1, divergence on the RSI, “snake” formation on the stochastic. There is nice subdivision on the lower frame. I’m not looking to trade this as wave 5’s are tricky to trade. If it does follow through I’m looking for the following correction to trade.

pkealoha76

Debating going short on a counter trend to the 50-62% level where things could get interesting. I’m not seeing any further downside afterwards looking at the 4H and the daily charts. The better trade would be the possible retracement to the bullish side after the 50-62% level. Tried to get impulse counts out of these but I don’t force counts. I keep to my rules...

pkealoha76

This looks like an excellent trade opportunity to trade with about a 20-30 PIP risk! It’s at the “golden zone” currently. I’ll be putting my trade in tomorrow. Win or lose the upside is tremendous. Almost doesn’t get any better than this? I love seeing “50 backs”, and “equal legs” trades, but when they happen simultaneously OMG! We’ll see where it goes?

pkealoha76

I don’t like this count but impulse waves don’t channel. Looks like a leading diagonal may be developing but I don’t know anyone who trades those. Im looking for a bullish trend change nevertheless. If it hits the 61.8 level or the 100% equal leg extension where the Fib levels are clustering I’m in baby! Nothing to much to see here yet but a nice triple...

pkealoha76

Here’s a really nice impulse wave sequence with beautiful subdivision! I’m seeing a possible wave 5 trade on this retrace. I’m actually waiting on a 13 swing sequence to end and trade the following correction? We’ll see.

pkealoha76

Looking to go long on a wave C correction when the market opens. Nice R/R ratio for a swing trade to see if it goes anywhere. If it does hit the 100%-1.618% I'll be definitely taking the trade on a short for an impulse wave down. I use EWT for possible trend direction as well as entry, exits, and SL. I trade using RENKO'S and moving averages once trend direction...

pkealoha76 Updated 

I’m definitely looking for short trades here. With the 100 being hit I may take a long term with an SL beyond the 1.236 as the RR is wonderful now. That may be a month long trade to provide the equity to swing trade this bearish sequence. See what happens?

pkealoha76

I’ll be looking for trades going short next week. I think we’re in a wave C of a flat so I’m hoping for an impulse wave down to complete the correction. Trade with the trend :-)

pkealoha76

Awaiting a better entry for maximum risk reward. May go back down to the.382 and I’ll take the trade. Or I could take it immediately and hope it hits 100% of wave 1? Doubt that. The 50% retracement is a deal breaker or at least invalidates an upcoming wave 5 in my experience. I’ll just hurry up and wait.

pkealoha76

A nice setup for next week to try and jump in early. It’s pulled back into the 50%. Highly probable and early entry with a nice RR.

pkealoha76

This looks like a bullish high probability trade for me to get into next week.

pkealoha76 Updated 

Did an Elliott count and my RENKO chart said otherwise. Been making money with my RENKO project. My EWT not as easy. We’ll see how this goes? The MACD on the RENKO seems to work well thus far.

pkealoha76

Just wanted to post this out there for entertainment reasons. There is more to it as to how I arrived at this but simply put, here it is. I’m definitely buying at around 6500 and selling off at 10000. Just in time for the 4th of July!

pkealoha76

Such strong divergence! Waiting for a nice corrective sequence to occur. I wouldn’t sell anytime soon.

pkealoha76

My best guess is my worst enemy. Waiting to short this.

pkealoha76

Are my eyes deceiving me?! Would label it down to the 15M but it’s too beautiful to put all types of numerals and lettering. Going to leave it as is. Definite shorts are in the forecast to complete the final wave 5 down.

pkealoha76

Thinking trend reversal here. It made an equal leg and nothing indicates that this swing is impulsive. If it hits 1.618 then I can’t argue against that. I’m looking for a pull back and MA break/crossover to enter a long if that happens.

pkealoha76

Took a quick trade. I believe this cycle will complete where indicated to complete a zigzag pattern at an equal leg. Been rough so far. We’ll see what happens?