$PLTR #Trading Idea: ABC retracement of the 5 wave move since IPO is underway. Looking for signs of a reversal near $27 (POC from IPO). 50% retrace of move is required for a wave 2 low. PPO must head back to zero line.

#tradingpsychology Image
$PLTR #Trading Idea: ABC retrace of the 5 wave move since IPO is underway. Looking for signs of a reversal near $27 (POC from IPO). Zig zag corrective pattern retraced 61.8% and now searching for 1.236 fib extension for reversal. Aligns with 50% retrace @ $27

#tradingpsychology ImageImage
$PLTR #Trading Idea: Zigzag in play. Looking for $25 before I start entering. At minimum a 50% retrace of the 5 wave move since IPO. Could go as low as $21-$22. Wave 2 low needs people to believe the bear market is here to stay. Poll shows bullish bias.

#tradingpsychology ImageImageImage
$PLTR #Trading Idea:

Zigzag in play.

Looking for $24.72 before signs of a reversal.

At minimum a 50% retrace of the 5 wave move since IPO is needed for a wave 2 low. Could go as low as $21-$22. The crowd needs to believe the bear market is here to stay.

#tradingpsychology ImageImage
$PLTR #Trading Idea:

Zigzag in play.

Looking for $24.72 before signs of a reversal.

She is approaching $25 pre-market. Big gap down. Could tag that blue trend line today. I will start to scale in if I see signs of a reversal on the hourly chart.

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$PLTR #Trading Idea: Zigzag in play. I just bought. The confluence of support was good enough for me.

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$PLTR #Trading Idea: Did the zig zag complete yesterday at the 1.0 extension of wave A? She put in signs of a reversal on the hourly, then they morphed into signs of a reversal on the 4HR/Daily charts.

She hit $27.50 premarket, +10% from my entry yesterday.

#tradingpsychology ImageImage
$PLTR #Trading Idea: Did the zig zag complete yesterday at the 1.0 extension of wave A? Sure looking like it. PPO went back to zero line (required for wave 2 lows). The volume was there yesterday, and the follow thru is there today. Let's see the weekly close

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$PLTR #Trading Idea: Bullish abandoned baby on the daily? Weekly reversal candle at trend support?

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$PLTR #Trading Idea: Broke $24.50 and closed above = bullish. Watch hourly for conclusion of pattern.

IF $23.90 is lost, brings in $22.69.
Gap fills: $31.96 $27.95

#tradingpsychology Image
$PLTR #Trading Idea: Broke $23.90 and $22.69 came in a hurry. FREE FALLING! No need to catch a falling knife. Now we wait for the bottom to reveal herself before entering again.

IF $22.69 is lost, $21.39 in play.

After $21.39, could hit $17-$15 in a hurry.

#tradingpsychology ImageImage
$PLTR #Trading Idea: Broke $22.69 is now the level to trade against. I may take another stab @ her today. IF $22.69 is lost, $17.50s are on deck. Falling wedge pattern in play. Zig zag in play.

Invalidation: $22.69

#tradingpsychology Image
$PLTR #Trading Idea: Are they accumulating @ the 61.8% retracement? Every time $22.69 is lost, its bought up... Is the weekly breaking down tho? Still in falling wedge on daily. Watch EMA5 for clues. Could be ugly for a long time, could be hammering out a low.

#tradingpsychology ImageImage
$PLTR #Trading Idea: Looks almost too perfect...

#tradingpsychology Image

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More from @marketwizard87

22 Jan
$PENN #Trading Idea Updated: Another ABC, another ATH... PPO still bearish on daily. Approaching final PT. Weekly beautiful long term trend. Watch for chances to add @ SMA20. When Super bowl ends, consolidation on weekly begins.

Invalidation: $76.62
PT: $112

#tradingpsychology ImageImage
$PENN #Trading Idea Updated: Ending diagonal setting up? $112 is the balance area PT. Bearish PPO divergence on weekly. NFL Season ends in a few weeks. Will an end of the NFL season & the January effect cause daily/weekly consolidation?

#tradingpsychology ImageImageImageImage
$PENN #Trading Idea Updated: Ending diagonal setting up? $112 is the balance area PT. Started to break down yesterday but was saved by an upgrade this morning.

#tradingpsychology Image
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