Starbucks 1d Chart each candle represent 1 day
1 - we hit 50 moving average and as we all know 50 moving average is a strong resistance
2 - we are in overbought zone in stochastic over 80% means barish
3 - Starbucks have a earnings call in 2 days on 04/28/2020 lets hope for good result
now lets talk about Elliot waves and lets portend we will have a 5 wave move than we have now wave 2 had retracement to 50% Fibonacci level of wave 1 now wave 3had a retracement to 1.68 Fibonacci lavel of wave 2 now if we will have wave 4 retracement of 50 Fibonacci level of wave 3 and than if wave 5 retrace to 1.68 Fibonacci level from wave 4 than thats how chart will look
on one week chart means each candle represent 1 week we retraced to 1.68 Fibonacci level and closed last week with Doji candle Death candle.
on 4 hour chart each candle 4 hours same situation
now some market psychology
Market going down to get more customers market need more money to come inside the market so that 5% of traders can make more money and when supply bigger than demand and price is correct (low) traders institutions start buying so price will go back up greedy people is going to look or buy because it start getting more expensive so they think time to buy now and they will make money but than that greed comes in and greedy people now start thinking i will take to much risk i better make little amount but i am not going to loose none ill wait few days ill c what's going to happen and than buy stock so they wait few days and miracle happen stock gets more and more expansive daily now time to grab that free cheese time to buy and we all know that not u not me not our family members and everybody in this world never got free cheese the moment they buy or may be greed say u taking to little profit u selling to early its going more up and as soon as they buy or didn't sell decided to wait more now supplies bigger than demand the real traders already start selling because they got their supply when they c decision making moment and that they can loose risk little now to make big so they take that risk back than 2nd candle usually now they start selling start taking profit out and to lower price down to get more people in so they can make more money but cheep people just got their positions now or didn't sell at correct moment now they wait price start falling now they panic and start selling to save some money the moral is, in the end everybody gets what they deserve stop being greedy in this business u need balls to risk some off your money if u afraid to loose even little go look for other business that brings profit to u not ones not twice but consistently without risk but usually its physical job or learn how to trade correct. risk management is very very boring but very very important pay big attention to that. Everybody thank you for reading my nonsense its life. Use your brain don't listen to fake news they lying a lot and u loose money because of them also sometimes and me i am just bull shitting. 'don't listen to me either i cant be correct all the time but market correct 100% all the time
Make your own decisions but its nice to know what others are thinking.
1 - we hit 50 moving average and as we all know 50 moving average is a strong resistance
2 - we are in overbought zone in stochastic over 80% means barish
3 - Starbucks have a earnings call in 2 days on 04/28/2020 lets hope for good result
now lets talk about Elliot waves and lets portend we will have a 5 wave move than we have now wave 2 had retracement to 50% Fibonacci level of wave 1 now wave 3had a retracement to 1.68 Fibonacci lavel of wave 2 now if we will have wave 4 retracement of 50 Fibonacci level of wave 3 and than if wave 5 retrace to 1.68 Fibonacci level from wave 4 than thats how chart will look
on one week chart means each candle represent 1 week we retraced to 1.68 Fibonacci level and closed last week with Doji candle Death candle.
on 4 hour chart each candle 4 hours same situation
now some market psychology
Market going down to get more customers market need more money to come inside the market so that 5% of traders can make more money and when supply bigger than demand and price is correct (low) traders institutions start buying so price will go back up greedy people is going to look or buy because it start getting more expensive so they think time to buy now and they will make money but than that greed comes in and greedy people now start thinking i will take to much risk i better make little amount but i am not going to loose none ill wait few days ill c what's going to happen and than buy stock so they wait few days and miracle happen stock gets more and more expansive daily now time to grab that free cheese time to buy and we all know that not u not me not our family members and everybody in this world never got free cheese the moment they buy or may be greed say u taking to little profit u selling to early its going more up and as soon as they buy or didn't sell decided to wait more now supplies bigger than demand the real traders already start selling because they got their supply when they c decision making moment and that they can loose risk little now to make big so they take that risk back than 2nd candle usually now they start selling start taking profit out and to lower price down to get more people in so they can make more money but cheep people just got their positions now or didn't sell at correct moment now they wait price start falling now they panic and start selling to save some money the moral is, in the end everybody gets what they deserve stop being greedy in this business u need balls to risk some off your money if u afraid to loose even little go look for other business that brings profit to u not ones not twice but consistently without risk but usually its physical job or learn how to trade correct. risk management is very very boring but very very important pay big attention to that. Everybody thank you for reading my nonsense its life. Use your brain don't listen to fake news they lying a lot and u loose money because of them also sometimes and me i am just bull shitting. 'don't listen to me either i cant be correct all the time but market correct 100% all the time
Make your own decisions but its nice to know what others are thinking.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.