Elliott Wave Training

Are you looking to learn the Elliott Wave principle? Or maybe you already have some experience and want to find the ways to improve your skills better.

Click on this post for details:

http://wavepatterntraders.blogspot.com/2012/04/elliott-wave-training.html



Showing posts with label IRSG. Show all posts
Showing posts with label IRSG. Show all posts

Monday, March 5, 2012

Elliott Wave Analysis of Intuitive Surgical Inc (IRSG)


Up until a few hours a go, i never even knew this stock, (shows how much i pay attention to US stocks)

So as it was mentioned in the comments in my last article about AAPL, i thought i would take a quick look and see what sort of chart it looked like

Now i don't know what this stock does or what profits or losses it makes, frankly i don't understand that sort of stuff

I am not a stocks trader, i trade price and price alone, i don't know nothing about the "funny mentals" i could not even tell you how to work out a PE of a stock

Hence you will never ever see me mention about the dark side of stocks.

Anyhow, as soon as i saw this i was like woooooo, now that is a clean pattern

Thats virtually a text book 5 wave advance, it has some clean wave structure and the RSI divergence between the suspected waves 3 & 5 is a great edge

There is more, check out the fibbo relationships between waves 1 and 3, thats a great 2.618 fibbo extension target hit, then the 1.618 ext hit for the smaller "3rd of 3rd"

3rd waves in general either hit a normal standard 1.618 extension of the 1st wave or they extend to the 2.618 extension of the 1st wave in a 5 wave sequence, you can use those fibbo targets to try and work out where the end of a 3rd wave will end

If i was a stock trader, i would be seriously looking to buy puts or some sort of vehicle, as if stocks are setup to reverse, i suspect this goes down quickly

I will follow this with passing interest

You don't get much better looking examples than that, i see those clean patterns on FX not stocks

A great looking 5 wave Elliott Wave pattern

I think at minimum you would see $470-460 or lower if this idea is correct, a strong break of $510 is the 1st clue