How does it work?
Once your payment is completed, I start a custom price action analysis of your chart. I'll contact you if I have any questions or need more information. It takes up to 12-48 hrs to complete my work.
What's the difference between the Complimentary (free) Analysis, Pro Analysis, and the Monthly Subscription?
Complimentary (free) Analysis / Inquiry - I will provide a quick analysis or respond to your inquiry.
Pro Analysis - you will receive one written analysis / recommendation and an illustration of the projected price action movement (typically on a daily or weekly time frame, unless otherwise requested).
Monthly Subscription - considering your goals, I will proactively monitor your security by setting up custom alerts and keeping you informed about potential trading opportunities. You may cancel your subscription at any time.
Regarding the Pro Analysis, what exactly will I receive from you?
It depends on your needs. I will engage all my expertise and experience to guide you towards the best outcome. The analysis will include a chart illustrating the expected price movement.
When the pattern is clear, I'll offer recommendations on possible price targets for trading opportunities. The following are examples of my work:
PRO ANALYSIS EXAMPLE I (KO)
INQUIRY: Almost a year ago, I bought some stocks of the Coca-Cola company (KO) for $55. Today's price is about $58. Is it a good time to sell or should I wait longer?
ANALYSIS: From the recent high in April '22, the stock has been in a corrective cycle. The correction is not completed yet and the momentum signals suggest a further move down. It is unlikely the stock will advance over $64 in the next few weeks or months. The $60-$61 level is a medium resistance and I believe the price will bounce down from there. As of today, my projected daily price action move is illustrated on the image below (the purple line). The $48 level may be the end of the correction or only the first part of the correction (more likely).
The weekly chart still allows for a bullish scenario, but it should only be considered when the price exceeds the $66 level.
To summarize, you should definitely protect your gains by setting up a stop loss or taking profits. The exact amount depends on your risk tolerance, but the $56 area seems reasonable.
PRO ANALYSIS EXAMPLE II (TSLA)
INQUIRY: My goal is to buy TSLA for $200 (the price is $210 today). Is this a good idea?
ANALYSIS: The daily price action suggests the stock is still in the corrective mode. A possible target within a month is around $180. If it breaks this level, the next target is $160 (this may be an excellent price to buy); I don't expect it to go lower than $150-$160.
On the other hand, once the price breaks the $205 level, it may be a strong indicator the uptrend has resumed and it may be safe to take a long position with a stop loss at around $195.
Keep in mind the earnings are coming up in a week; since the minor trend is down, it may be best to wait until after the earnings (the good news is that there is a strong divergence between the price and momentum suggesting the bearish trend weakens).
How long have you been in business?
In the early 2020, I started learning the Elliott Wave theory on a full-time basis. It took me over 10,000 11,000 hours of active study to become a Master Elliottician (according to my judgement). I've also discovered several new Elliott Wave guidelines and rules that have never been published.
In addition to the highly modified Elliott Wave Principle, do you also employ the NeoWave or the Harmonic Elliott Wave Theory?
The NeoWave Theory is based on the Elliott Wave Principle. However, in my opinion, the author made it too inflexible and complex to apply in real time.
The Harmonic Elliott Wave has some useful practical implications related to impulse waves.
What types of price charts do you work with?
I prefer to work with individual stocks, ETFs, and commodities, but also have experience with currencies and cryptocurrencies.
What time frame do you work with?
I usually start researching the data from the monthly chart, followed by weekly, daily, and intraday. I'll suggest the best time frame, if necessary.
What tools do you use?
I always incorporate Japanese candlesticks, trendlines, and momentum indicators in my work.
When I label my charts using the Elliott Wave Theory, I don't use any computer software because it is unable to discern different types of wave personality, wave proportionality on different levels, the "right look," and dozens of other important guidelines.
Can the price action be bullish and bearish at the same time?
Yes, but almost exclusively in the same time frame. That's why it's so important to wait for the confirming price action to correctly recognize chart patterns.
Isn't technical analysis a complete nonsense?
As one of my mentors would say: "Technical analysis is a language. The more you understand the language, the better trader you'll become."
If technical analysis was useless, trading bots and algorithms run by multi-billion dollar corporations wouldn't exist.
There are some free chart alerts that give buy/sell signals. How is your service different?
These automated alerts simply take a bunch of indicators and read their values; if they are high/low enough, they trigger a signal.
The problem is, they don't provide a context which is crucial in trading decisions. It's like getting a notification about a prize without knowing the winning amount, terms, and the invalidation dates.
Should I use a "stop-loss" in my trading?
In general, I'd recommend against that unless you are a competent trader and try to protect an already-profitable trade. The market always tries to adversely affect investors by running "stop losses" on their positions. One little mistake in your calculations or predictions may cost you a lot of money.
We own long-term investment holdings. Can you help us in the area of investment analysis / strategy and risk management?
Employing your suggestions, I would periodically analyze your portfolio on a weekly / daily time frame and identify assets with the highest and the lowest potential as they enter a bullish or a bearish mode. I would explain my reasoning as needed.
I could also add each item from your holdings to my "Proactive Monitoring" system and set up customized alerts at critical levels to quickly inform me (and your company) about unexpected price changes. That would allow to establish an additional layer of risk management.
I'm a "bagholder." Can you help me?
I think I can because I've been a "bagholder" myself and I know how it feels to buy high and anxiously wait for the market turnaround.
Probably the quickest way of breaking even on an unsuccessful trade is to average down, but only if you are confident it could be "the bottom" and there are no immediate risks, like a public offering, liquidation, or a reverse stock split.
A correct interpretation of price action is critical to avoiding potential pitfalls.
What are the three most unforgiving mistakes traders make?
1. Not looking at the higher time frames (it also applies to day traders).
2. Trying to find the "popular" patterns like "bull/bear flag," "head & shoulder," "falling/rising wedge," or "cup & handle" where they don't exist.
3. Relying too much on a temporary or non-horizontal trendline / moving average breaks.
Do you have more advice for new or inexperienced traders?
- Never be in a hurry to take a trade; waiting is also a trading strategy.
- Don't be influenced by social media posts or "pumpers." They often collaborate with hedge funds to lure retail investors into pitfalls.
- Learn your trading tools before investing real money.
- Don't place too tight stop-losses.
- Look at a price chart without bias.
- Diversify your portfolio.
- Always consider selling when in profit.
- Be patient if you are a "bagholder" and avoid "averaging up" unless in a bull market.
- Remember that price action precedes the news and indicators.
- Trade in harmony with the bigger trend.
- Use higher time frames on your charts to have a more accurate market image.
- Divergences in price and oscillators (RSI, Stochastic, MACD, etc.) are not "immediately actionable" buying/selling signals.
- Watch both linear and logarithmic scale in your charts.
- Avoid using the line charts; take advantage of the candlestick or bar (OHLC) charts instead to view the most data.
- Avoid picking tops and bottoms as this is the surest way of becoming a "bagholder."
- Compare major indices and related ETFs to your symbol to notice its strengths and weaknesses.
- Don't buy calls or puts unless you are an advanced trader.
- Don't rush to invest in an IPO stock as they tend to be shorted for a long time.
- Don't fall for the "buy and hold" strategy unless you actively monitor your investments.
- Recognize that sometimes the most profitable position is no position.
- Don't blindly follow the crowd; the market tends to do whatever affects the most people in a negative way.
Do you offer consultations on the classic Elliott Wave chart labeling?
Yes. I can check your work and give guidance on proper implementation of the classic Elliott Wave Principle adhering to all the rules and guidelines.
Advanced traders, trading software engineers, and institutions may use my service to confirm their labelling or devise an alternative wave count strategy.
Feel free to send me an email for a quote.
Why should I trust you?
When I do something, I make sure it's done right to the best of my knowledge or not done at all.
Who will assist me if you are unavailable?
My job requires me to be online every day, but in case of an emergency my good colleague and a professional currency trader will help you out.
Do you offer money-back guarantee?
The nature of my work is research, so my service is non-refundable. Of course, I will not always be correct in my forecasts, but I believe the odds of success are greater than average.