DNA Ginkgo Bioworks Looking to complete EW bearish sequence
DNA had massive bearish selloff and is trading at very low price just above
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area. Between current lows and ATH, we can anticipate a decent rally before resuming a larger move lower (if that would happen in future). At these lows its great price range to accumulate and build a position using risk management and DCA strategy. It's been trading back it forth between $1.15-1.40; approx 15-20% difference in gains. You can try trade it back it forth with focus on taking some profits to create a lower cost position and then using those profits to buy more shares. If you want to really play safe, aim to sell 50% at 2x (or 3x) and hold the remaining 50% balance of your DNA portfolio 100% risk free for life (e.i Buy 1000 shares at $1.20 to Sell 500 shares (50%) at $2.40). Just some strategies worth looking into.
As for the current wave count, favoring DNA to be possible ending its 5th and final wave down. Market-wide, things seem risky and tough to support the idea any assets would pump while indices dump. However many times, smaller cap assets tend to get some nice pumps, not always but often. Its a matter of risk to reward while applying a safe risk management strategy. Our goal is profits, small chucks along the way. SO the target zone here is within the pink lines (wave V ending calculation) of $1.26-$0.96 area with the fib extension calculation showing the 1.618 at $0.82 area. I dont see it going much lower than
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at these lows, maybe after a rally but not here. I can be wrong too.
We shall see how it plays outs.
If you like my charts please smash like to show support, it would be appreciated and feel free to leave comments or ask questions.
Play safe & happy trading
1
area. Between current lows and ATH, we can anticipate a decent rally before resuming a larger move lower (if that would happen in future). At these lows its great price range to accumulate and build a position using risk management and DCA strategy. It's been trading back it forth between $1.15-1.40; approx 15-20% difference in gains. You can try trade it back it forth with focus on taking some profits to create a lower cost position and then using those profits to buy more shares. If you want to really play safe, aim to sell 50% at 2x (or 3x) and hold the remaining 50% balance of your DNA portfolio 100% risk free for life (e.i Buy 1000 shares at $1.20 to Sell 500 shares (50%) at $2.40). Just some strategies worth looking into. As for the current wave count, favoring DNA to be possible ending its 5th and final wave down. Market-wide, things seem risky and tough to support the idea any assets would pump while indices dump. However many times, smaller cap assets tend to get some nice pumps, not always but often. Its a matter of risk to reward while applying a safe risk management strategy. Our goal is profits, small chucks along the way. SO the target zone here is within the pink lines (wave V ending calculation) of $1.26-$0.96 area with the fib extension calculation showing the 1.618 at $0.82 area. I dont see it going much lower than
1
at these lows, maybe after a rally but not here. I can be wrong too. We shall see how it plays outs.
If you like my charts please smash like to show support, it would be appreciated and feel free to leave comments or ask questions.
Play safe & happy trading
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Target Zone
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EW bearish sequence on move down
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Head & Shoulder played out great
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Wave 4 retracement (0.236 Fib) from where move started.
I slightly unsure on the correct labelling uptop. Between a 1,2 1,2 or an AB-1,2, or perhaps ABC-1,2. The idea still remains the same, can see clear set of 5 waves. Can count 3-7-11 swings lower so we're close to completing or perhaps a large move up before resuming lower. RISK to REWARD at close to $1.00, its highly UNLIKELY that DNA will just go bankrupt and sink to $0.
I slightly unsure on the correct labelling uptop. Between a 1,2 1,2 or an AB-1,2, or perhaps ABC-1,2. The idea still remains the same, can see clear set of 5 waves. Can count 3-7-11 swings lower so we're close to completing or perhaps a large move up before resuming lower. RISK to REWARD at close to $1.00, its highly UNLIKELY that DNA will just go bankrupt and sink to $0.
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Slight mix of favoring counts, as the 0.236 didnt retrace fully from THIS view
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An Alternative count that I can support and favor
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TYPO/ERROR:
"HKEX:1" should be "$1.00"
"HKEX:1" should be "$1.00"
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Bullish Divergence
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Bearish Divergence
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Wyckoff Accumulation ??
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another wave count to consider
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DNA close to ending bearish sequence
Altnerative view:
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Primary targets achieved
21% gain
wasnt perfect, but just good enough
21% gain
wasnt perfect, but just good enough
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its in the DNA
incredible move up off the lows, wave count was great, not perfect but just good enough. +50% off the lows, if youre holding, be prepared for more upside but make sure to take some profits; profits secured is the W, until the profits are secured, its not a W
incredible move up off the lows, wave count was great, not perfect but just good enough. +50% off the lows, if youre holding, be prepared for more upside but make sure to take some profits; profits secured is the W, until the profits are secured, its not a W
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The move up (corrective rally), has just started. Am anticipating many smaller corrective moves en route to our target of ~$4.60, with lots of volatility and trading on its way. For now, am anticipating this type of move and count, its just a projection and fresh look, many things can happen between now and whenever
Take profits along the way is the best bet.
Take profits along the way is the best bet.
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DNA looking fantastical!
still anticipating more corrective swings, but corrections are tricky and can easily swing around into double corrections or print wxy connector. The idea here is the corrective rally is wave 4 (probability wise), it can play out simply as an ABC, or a larger degree ABC-> (ABC). Once the red 4 of wave (5), is taken out, it signals that the 5 was infact completed and the downside from there is limited so buyers and traders knowing this will step in to support price action on pullback, usually a clear 3 wave pullback before resuming higher. We shall see how it plays out, so play safe and remember the best way to win is to secure profits.
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DNA looking good.
Following EW sequence really well.
Expecting some choppy price action along with consolidation
Still favoring further upside.
Don't forget to bank profits
Following EW sequence really well.
Expecting some choppy price action along with consolidation
Still favoring further upside.
Don't forget to bank profits
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if the right shoulder prints weaker than left shoulder, we can favor it as a valid H&S pattern with estimated target approx $0.98c area (measure the move from neckline to head = distance from neckline to target range) * I highly doubt DNA will trade below $1.00, but I can be wrong too!
If we get a right shoulder showing more strength than left shoulder, it becomes invalidated (I'd anticipate a bear trap, perhaps breaking below the neck line to create a H&S fakeout, setting up a i-ii, 1-2 before an impulsive move upwards
If we get a right shoulder showing more strength than left shoulder, it becomes invalidated (I'd anticipate a bear trap, perhaps breaking below the neck line to create a H&S fakeout, setting up a i-ii, 1-2 before an impulsive move upwards
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"The only way OUT of a Bear Flag, is with a Bear Trap"
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anticipating
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got the technical bounce
take profits and wait for relow (may or may not get it, buts that ok, it'll come back within range and well assess from there)
take profits and wait for relow (may or may not get it, buts that ok, it'll come back within range and well assess from there)
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now, we wait.
should * get a bounce before the $1.12 low
it could * breakdown too
could get *both scenarios
must be prepared for all scenarios (DCA & risk management)
should * get a bounce before the $1.12 low
it could * breakdown too
could get *both scenarios
must be prepared for all scenarios (DCA & risk management)
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IF it does breakdown, we will reanalze the wave count.
Im still favoring the 3-4-5, 3-4-5 type count......obviously its not a bearish 1,2-1,2 count
Im still favoring the 3-4-5, 3-4-5 type count......obviously its not a bearish 1,2-1,2 count
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IF DNA breaks the low, we adjust our count like this and look to add/DCA our position in the pink lines. You can use stop limit function within the range, I'd suggest starting just above the 1.236 to just below the 1.236 as 1 order and then range down to 1.618 as the second order.
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or just wait for the small tiny doji candles on daily esp if we open and close in the pink lines (wave v extension) range
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DNA should be ending wave ((3)) here completing a few different sequences.
Can start to DCA into a position at these lows, we'll get some small bounces before it bottoms out
NFA, practise risk management dont overinvest or throw your eggs all in 1 basket
Can start to DCA into a position at these lows, we'll get some small bounces before it bottoms out
NFA, practise risk management dont overinvest or throw your eggs all in 1 basket
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Looks like ending of its sequence