Despite posting almost
1
Billion in un-expected revenue Google has yet to rally like Meta and MSFT. This supports my primary count of having topped already. That doesn't mean we can't go higher. We still haven't hit the 1.0 of this ABC retrace, this would be a shallow retrace, and until we have conformation, I will leave the ALT count up showing we can still get OMH. I drew a target box labeled ((A)) or ((1)), but that box is assuming we have in fact topped. If we end up getting that OMH those targets will change.
I labeled it ((A)) or ((1)) due to the fact that it could be another A wave forming within our Cycle Wave IV, or it could be the beginning of the C wave. I'm leaning towards the prior strictly due to timeframe. Wave II wasn't very deep, but it did pass the 0.5 fib, so it wasn't exactly shallow either. Due to the rules of alternation, I would assume our Wave IV should stay above the 0.5 fib line of Wave III. This gives credence to the next drop being an A wave because it would help drag it out making wave IV longer.
By now this move up, rather it has OMH to the 1.0 or not, is almost over. IMHO it is not wise to go long in this area as you could very easily get caught in a trade and lose big. This is also why stops are so important!!! I can't say it enough, stops help save capital when you're wrong, and it helps to protect profits.
Bonam Fortunam,
--Tyler
1
Billion in un-expected revenue Google has yet to rally like Meta and MSFT. This supports my primary count of having topped already. That doesn't mean we can't go higher. We still haven't hit the 1.0 of this ABC retrace, this would be a shallow retrace, and until we have conformation, I will leave the ALT count up showing we can still get OMH. I drew a target box labeled ((A)) or ((1)), but that box is assuming we have in fact topped. If we end up getting that OMH those targets will change. I labeled it ((A)) or ((1)) due to the fact that it could be another A wave forming within our Cycle Wave IV, or it could be the beginning of the C wave. I'm leaning towards the prior strictly due to timeframe. Wave II wasn't very deep, but it did pass the 0.5 fib, so it wasn't exactly shallow either. Due to the rules of alternation, I would assume our Wave IV should stay above the 0.5 fib line of Wave III. This gives credence to the next drop being an A wave because it would help drag it out making wave IV longer.
By now this move up, rather it has OMH to the 1.0 or not, is almost over. IMHO it is not wise to go long in this area as you could very easily get caught in a trade and lose big. This is also why stops are so important!!! I can't say it enough, stops help save capital when you're wrong, and it helps to protect profits.
Bonam Fortunam,
--Tyler
Go to ewtdaily.com for DETAILED DAILY UPDATES on 27 unique tickers and a daily zoom call with members to discuss latest analysis and get a 7-day FREE trial
Bonam Fortunam,
--Tyler
Bonam Fortunam,
--Tyler
