This chart shows a number of possible directions that price could take and is meant to spawn multiple trade ideas. I firmly believe in diversifying positions and trade ideas within the holdings of one individual asset, but I posted up an example with targets for a long trade that will help to manage risk by utilizing major resistance, as well as Fib levels, the Gann Fan (always a 45 degree angle), the Stochastic, and the Awesome Oscillator. I also tossed in an Elliott Impulse wave on the big spike so that you can see how you might trade a big breakout and know which phase you're in during the trade. Regardless, your satisfaction with this trade idea will depend on your fundamental views of auto-manufacturing. If you think American auto manufacturers are going to get crushed, don't buy it. I do not believe that that trend will continue on a long term basis. Happy Hunting Everyone.
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Hey Hunters, If you took this trade at market and closed it out RIGHT NOW you're up 10%, I always tell my viewers to take some profits before they evaporate, this case is NO DIFFERENT, it's not the 100-500% profit that you can get in the digital asset space, but don't be a greedy fool! In order for victory to be yours, you must claim it! Keep Hunting.
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As I predicted last year, there was a small pop. If you closed this trade at the top, you made about 30%. But most people don't close at the top. You could have made 1000's % return in the digital currency space. Go read a book about bitcoin, if you're only trading traditional equities your money is sleeping on the job instead of working for YOU.
"I" sent you are pretty large message a little while ago did you get it? "I" may have hit the cancel button bummer it was a good one "I" think. ("It just vanished" --- "I" am very bad with computers, with these types of things) "I" am ("NOT") telling or asking you to short the market at all. "I" was just letting you know the "DOW" in this 10 yr cycle (1907) to date has not topped (LATER) than the end of "OCTOBER". IT has always topped (BEFORE) the end of "OCTOBER". It could be a very good trade. "I" just have a hard time " SHORTING AMERICA U.S.A. " at this time. ( My "SON is a SENIOR CHIEF inthe U.S. COAST GUARD ) He is currently stationed in " PUERTO RICO ". HE told us it is very, very bad this is one of the times the news is not fake. He said the storm was beyond our wildest dreams (at the center "6 hr period" was very, very wild). The day after the storm ended only "5 MEN and WOMEN " showed up to work at base that he saw. He was one of them. (That is what they get paid to do that's there job protect ("AMERICAN PEOPLE AND AMERICAN SOIL" as well as others") Just before the storm hit "EVERYONE" was evacuated off the base. A lot of them went different ways to find shelter on the " Island ".
Piptocurrency
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@jeffreyjim, Yes, I'm getting your message, very informative as always and you can rest assured that I remember the advice of my true mentors for a very long time. It's crazy about your son's role and experience in the Coast Guard, and what's happening in Puerto Rico, I know it's bad, and I know that the Jones Act, from what I've read, is making it a lot worse, so "I" will be sure to pray for him and those brave souls under his command to execute their mission safely and successfully, I have no doubt he will pull it off. Metaphorically, I agree that American financial and "POLITICAL" markets are headed for a big storm, too, so I will pray that everyone come out of it safe and sound as well.
jeffreyjim
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" Some more food for thought. "
#1 = "Evc" = If " I " wanted to own this stock. " MY " first buy would be at $3.85 or lower only.
If ( $9.56 ) was hit first " I " would not buy.
#2 = "EGL" = If " I " wanted to own this stock. " MY " first buy would be at $25.70 or lower only.
If ( $39.17 ) was hit first " I " would not buy.
#3 = "PICO" = If " I " wanted to own this stock. " MY " first buy would be at $13.05 or lower only.
If ( $17.96 ) Was hit first " I " would not buy it.
#4 = "CRBP" = If " I " wanted to own this stock. MY first buy would be at $4.18 or lower only.
If ( $10.79 ) was hit first " I " would not buy it.
#5 = "NYMT" If " I " wanted to own this stock. My first buy would be at $5.65 or lower only.
If ( $7.05 ) was hit first " I " would not buy it.
#6 = " F " If " I " wanted to own this stock. " MY " first buy would be at $8.82 or lower only.
If ( $18.98 ) was hit first " I " would not buy it.
" I " am not telling or asking anybody to buy or sell anything. (PLEASE DO YOUR OWN HOMEWORK)
" THIS IS FOR EDUCATION ONLY "
jeffreyjim
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Some food for thought. " I " would like to share somethings with you. (IN A VERY GOOD WAY)
"Some of my trading rules"
#1a = " I " only use "LINE CHARTS" and "BAR CHARTS" (OPEN - HIGH - LOW - CLOSE) " I " think these are the best charts to use.
(I " only use line charts about 10% of the time.) " I " never use "CANDLES" (" I " learned this from one of my many teachers yrs ago.)
#1b = Always start with the big picture and work your way down. ( monthly-weekly-daily- 4 hr all the way down to one min. if you wish)
#1c = " I " only trade "STOCKS or FUNDS" (Dividend stocks can be very good to) (" I " quit trading "OPTIONS and "FUTURES") "OLD AGE" or
is it ("WISDOM" " I " could tell you some "TRUE" stories about options (it would not be pretty) My "HEART" and futures do not get along.
Some " ETFS " (" I " think are crooked always compare them to the market it mirrors) " I " learned this the hard way ( 3 ) times "OUCH"
#1d = Only trade patterns you "THINK" you understand the best. Some "I" am watching (" GORO ") - (" F ") - (" EVC ") - (" EGL ") - " GDX " -
" SLV " - (" PICO ") - " CYS " - (" CRBP ") - (" NYMT ") - " SA " - " GDXJ " - " ASA " - " CEF " Just to name a few. " I " own (GORO) - (FORD) at this time.
If some of the others hit my targets " I " will be buying. Cycles are telling me to be very careful (July I, 2017 to end of "OCTOBER" 2017 min.)
#1e = " I " love " FIBO " ret. points (.382 - .50 - .618 - .75) If this is all you use you can make money. As long as you are right about your pattern.
#1f = Trendlines are very good.
#1g = " I " love cycles to a point they can be very tricky.
#1h = " I " love " GAPS " in a big way this you have to learn about on your own for the most part.
#1i = " MONEY MANAGEMENT " (Is very important to survival in the markets.) "Never GO ALL IN AT ONE TIME" " I " could tell you some stories.
#1j = " I " (NEVER EVER) chase a trade any more. It almost always kills me. (SCHOOL OF HARD KNOCKS) If " I " miss it "BUMMER".
" I " learned there is always another trade. Learn from your "BLUNDERS" why did " I " do this stupid thing.
#1k = Remember markets hurt about 80% of the people about 100% of the time. " THIS IS VERY TRUE "
#1l = Try to fallow "SMART MONEY" " I " learned a trick about smart money. "Part of there trading is average in average out." It reminds me of
the "KARATE KID" wax on wax off.
#1M = Sentiment is very, very important. Try to always be on the right side.
#1n = Indicators are very, very important. Use the ones you under stand the best. "Not all indicators are worth a "S---." Using several at one time
can be very good, just don't over do it.
#1o = Learn about the commitment of traders report. (THIS IS A BIG KEY TO MAKING MONEY) Smart money over dumb money.
#1p = This is one of my "BEST, BEST" friends. Learn about "INVERTED YIELD CURVE AND RECESSIONS IN THE U.S.A." THIS IS NOT A JOKE.
If you never learn about anything again learn about this.
" I " will stop here my friends.
This is for "EDUCATION ONLY"
jeffreyjim
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"I" would like to share my thoughts on "FORD" (My #1 WAVE COUNT at this time)
This is the easy part. (Wave #1 or "A" up)
Wave #1 or "A" started = November, 2008 at ($1.01) Wave #1 or "B" top = January, 2011 ($18.97)
( This is not going to be easy.) = Wave #2 or Wave "B" down started January, 2011 at ($18.97)
" I " would call this a "DOUBLE THREE CORRECTION" or a plain and simple "A-B-C FLAT" eather
way the end result will be the same. A very good ralley is in the "CARDS", " I " hope.
(As time goes on it could turn out to be a "TRIPPLE THREE" or a "TRIANGLE". If it turns out to be a
"TRIANGLE" then we could rule out the (SECOND WAVE PART) Wave "TWO" can never be a triangle.
Then we would have to lable it as a "B" wave, and Wave #1 would go away and we would have to
lable it as wave "A". If it turned out to be a "TRIPLE THREE THEN IT MAY BE EVEN HARDER BECAUSE
THAT COULD LOOK VERY SIM. TO A TRIANGLE THEN WHERE BACK TO SQUARE "ONE". Thats how the
markets work my friends. " I " will be writing about wave "C" of two or "B". Wave "A" and "B" of
#2 or "B" are done, if "I" am correct.
(The 7-24-2014 High could have ended Wave "X " or "B" of wave #2 or "B" down.)
That started on 8-2-2012 low = $8.82
WAVE "C" or just another A-B-C correction down.
#1a = Starting date = 7-24-2014 (high = $18.12) "TOP"
#1b = Ending date = 8-24-2015 (low = $10.44) "LOW"
#1c = " I " think this completed (A-B-C down) to complete Wave "A" Down. (of WAVE " C ") OR?
#2a = Starting date = 8-24-2015 (low = $10.44) "LOW"
#2b = Ending date = 1-4-2017 (top = $13.27) "TOP"
#2c = " I " think this completed a " B WAVE TRIANGLE " to complete Wave "B" up of wave "C" down.
#3 = Wave "C" of "C" down of #2 or "B". "I" will make this short and sweet, "I" hope.
#3a = If the 1-4-2017 high is taken out. ($13.27) wave "C" of "C" down "COULD" be done.
For a "RUNNING FLAT CORRECTION" (AUGUST, 2015 low at $10.44 BOTTOM)
or we could still be in wave "B" of wave "C" down.
#3b = If not then reference my post below. This is when "FIBO" retracement points come in real handy.
On a monthly chart " F " is fairly well oversold. As you can see corrections can drive you nuts.
" I " am stopping here.
(If you want you add the "w-x-y" and "X" waves) "I" am old school.
This is for "EDUCATION ONLY"
jeffreyjim
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" I " sold 600 shares of my " FORD " today 9-25-2017 (AT $12.01)
400 shares left. " I " will sell these at or above " $18.97. "
One of these days " I " hope.
" I " like the dividend. Lets see if this was a good thing or not.
(SELLING) "Only time will tell"
" I " will post why " I " sold in the near future.
If " FORD " goes down " I " will be buying a lot more.
" I " am not telling " ANYONE " to buy or sell anything.
Please do your own homework.
Piptocurrency
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@jeffreyjim, NICE!!! Glad to know someone's making a buncha dollas out here! Keep on getting it, and thanks for your insightful posts, as always!
jeffreyjim
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I think ford will bottom below $8.82 per share. The perfect downside target will be $7.00 per share. I currently own 1,000 shares of Ford and plan on buying all the way down to $6.61 if it goes that low. I think ford will bottom between October 2017 and no later than the end of March 2018. These are my thoughts, One Eye Jim