Members’ Newsletter 1/19

*disclaimer: Not financial advice. This is my personal trade plan only. I am not qualified or licensed to advise anyone on their specific positions or trades, I am sharing my personal opinions only. Never make financial decisions based on any information on this site or any associated platforms. Always consult a professional for investment related advice and do your due diligence*

Overview:

Today’s price action was horrible. However, the end of day flush helped to eliminate some alternate possibilities. I think there is a significant chance that we see a bottom put in tomorrow. Of course, price will need to confirm this before I enter long.

$ES 4H

Bullish divergence on wave 5 of C of Y of (Y) into the 1.272 fib… exactly what bulls want to see

$ES 30m

The lower timeframe count supports a bottom near 4490

$NQ 4H

Falling wedge to potentially finish this WXY correction

$NQ 30m

The lower trendline may get slightly under cut. This would not invalidate the count

$RTY 12H

$RTY may be slightly behind, which is odd – Usually $RTY is one step ahead. I will be watching this closely.

Setups:

Please take a moment to review my trading strategies outline to better understand my setups

Elliott Wave Setups:

$ES/$SPY Long

Setup: Type B
Confluence: RSI Divergence (multi time frame)
Trigger: 15m Reversal from sub-wave 2 fib zone
Conditions: This setup has not developed yet. The path drawn is an approximation of structure, not an exact prediction of price. I’m looking for 1) The impulse down to complete, 2) an impulsive bounce that takes out a lower high and 3) a corrective pullback to confirm the trend reversal.

LCID Long: