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Elliottwave5

PFE Short 5th Wave Swing Trading on Daily Time FrameLooking for a Short Swing Trade on PFE using the Daily Time Frame.Short Entry at $35.68 with Stop Loss above our Elliott Wave 4 Pivot at $37.80 and a Target Price of $33 in our Automated 5th Wave Target Zone. The Wave 4 has pulled back and found resistance in our Amber Zone. This represents an 80% probability that the stock will hit our Automated 5th Wave Target Zone at $33. The False Breakout Stochastic denotes a strong bearish trend with Yellow dots in the oversold zone and then pulled back against those on the 4th wave and crossed in the overbought zone. There is a strong likely hood that the stochastic will want to return to those false breakout dots and move back into the oversold zone. Our Elliott Wave Oscillator also shows the Wave 4 pullback was within our prescribed pullback zone on the Oscillator. All of these indicators that identify a high probability Elliott Wave 5th Wave move are part of our New Elliott Wave Indicator Suite for TradingView and you can watch a quick video tour >>>HERE<<< "You Gotta Be In It, To Win It"
NYSE:PFEShort
by xBratSoftwareSolutions
Dow EW5 near complete; pullback before upside triangle breakoutAdjusting my idea for what might lie ahead for the Dow. Forgive my many variations, but our picture is certainly confusing and some of us have already been whipsawed and blindsided twice: Dow is in an extended wave 5, approaching the upper edge of a symmetric triangle. a weakening Bullish formation forming over past 9 days, albeit on low volume. Breakout from this channel is unlikely during the current wave impulse, with high resistance, low daily volume but should it occur could ignite a recovery wave; Although this 5th impulse wave has exceeded my wave model's forecast expectation of 25076, it is progressively weakening (plateau formation)) and either at or very near a short-term top, with strong resistance above 25240. Elliott theory projects possible extensions of Wave 5 based on height of wave 1+3, measured up from bottom of 4th wave; this estimation shown on chart in color grid yields possible high of 25238 at Fibo .618 for this wave impulse, likely occurring this week between 18-20 July (Wave 5 top). NB: Wave 5 closed Tues at 0.50 Fibo for the impulse- and reached 25155 intraday within target shell, for a possible near-term top; Market is ripe for a pullback soon and anything could start a tumble, however in looking at the Bullish price action, bullish impulsive waveforms, and considering solid fundamentals and decent earnings, a distinct possibility of only a modest 0.618 Fibo pullback to a possible wave C low at strong support of 24474 seems more likely than another deep cut, but should it break through support at 23800 will likely hold. Look back at April/May waves shows this pattern of a modest pullback from 5/22 -5/29, with a wave low ending near .618 retrace on 5/29 (Wave A); the shallow pullback was followed by the strong June impulse that carried index to 25400. By theorem of alternating behavior of waves, we had a sharp, deep wave in June following May's short, shallow pullback; so, next week in July may present a similar short, shallow pullback to near strong support at 24620, the 0.50 Fibo retracement, if index holds within shell bottom look for 24474 floor. Notably, B Waves have shown an expanded pattern - rising higher after each correction in channel as market chugs toward recovery. Given good economic outlook the correction may end in August after churning for six months with recovery going into the US midterm elections. It might be prudent to use any significant pullback to cover shorts and position for longs. If the alternating pattern holds and the symmetric triangle resolves in bullish manner, sidelined cash will pour into the market in August and drive it towards recovery. August often is a pivot month, reversing prior year's trend. Fibo grid suggests possible high in August of 25760, if Bullish impulse resolves in uptrend and leads to correction recovery. Notable article: www.scienceinvesting.com
DJ:DJIShort
by DaddySawbucks
6