The Long Investor
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$HIMS
🕑 Added 2025-03-04 11:12:59 +0000 UTCYesterday's market started off quite optimistic and $HIMS ran to the Red 0.38 Fib at $46 and we were looking set to challenge this level for support.....and then the Tariff concerns started rolling in and the market showed enormous selling pressure very quickly.
Unfortunately this caused a rejection at the $46 level and a retest of lower fib levels were needed, the price managed to hold on the 0.618 Fib to end the session which is a standard support level to hold at and still making a higher low.
Market will need to respond positively today to yesterdays Tariffs.....Tariffs that the market was aware of for some time but maybe hoped they would be delayed further.
However, none of this is new information, the impact yesterday should not have warranted such a reaction, so a response today will be needed to recapture some losses.
With $HIMS, very clearly Wave B at the very least is not complete for me, we do not have 3 waves here, so the plan remains the same and I would like to see the white fib levels hold support today and maintain a higher low support.
Comments
G4Golf
Good question. Which wave 1 are you referrring to, 2024 or more recent? The rule refers to IMPULSE waves in the same fractal, but DIAGONALS don't have so many rules. My question! If the wicks of waves 1 and 4 overlap, is that the same as the main body of the candle over lapping, and then possible invalidation?
GoodYears
Dear Cap, I have a question related to latest $HIMS post. Do you still think the Elliot Wave theory is applicable to this chart? One of the main rules for this theory is that Wave 4 never enters the price territory of wave 1 but it is already in it's price region.
CryptoCurse
Red Monday, green week
