I am conducting an experiment here. How accurate are these sine waves? Sinusoidal waves are pervasive throughout nature, one may even argue that energy travels in these waves. From musical notes, planetary orbit/rotation, etc... It may just be a mathematical construct that helps us explain phenomenons in nature. But, I believe it can help guide us in trading. I was looking at this chart and saw that RSI was oversold, 0.618 retracement, a triangle consolidation pattern, ABC harmonic and a neutral MACD. High Confluence and it is an EV stock. This is low risk with a stop at 13.91. I will be starting a small position and will add as I see confirmation.
Lets see how this plays out. Linked to this idea is a UVXY idea with sine waves too.
Warning: I think markets are heavily overvalued and I do see a correction coming soon (1-4 weeks). So, I guess I would be careful........
Lets see how this plays out. Linked to this idea is a UVXY idea with sine waves too.
Warning: I think markets are heavily overvalued and I do see a correction coming soon (1-4 weeks). So, I guess I would be careful........
