$HOOD

HOOD is in a last-call immediate bullish setup, ideally if the Thursday low holds; key support is 92. A break of 92 leaves the next real support at 48, not a target. He added this week and is comfortable buying even if it breaks because the skew is high if it works.

BullishHe framed it in days
“Is Bitcoin Setting Up for a Run Toward $100K?”
ElliottWaveTraderPublished Oct 19 · 2 passages

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Uh pump is interesting. I think pump is a uh you know I think that this has been you know kind of the animal spirits have been excited about this token out there in the Twitter space and the DeFi space and all that which I'm certainly involved in but don't tend to participate in all the all the all the FOMO.

It's finally interesting to me now that it has completed five waves. So um so ultimate support for this wave two is 001800 Z18. So what is that 1.18 of a cent uh is support. Um, it looks like we're finishing either A of two or A of a larger A.

Um, that's the way corrections work. So, we'll see. Um, I don't really want to buy it until it gets down into O34 and preferably not until I see a long setup, although I might take on a little bit of spots, no leverage um, as it gets into that zone.

So, this is this is the buy zone to me. It's for the first time interesting. Again, I don't know if it's going to work. These these mean these DeFi coins, meme coins, whatever you want to call them, uh, setups.

Elliot wave breaks in them more often. They more often top in three-wave moves. So, I would just call it low probability, but when they work, they the gains are outsized, like I said, about my 2025 taxes.

Uh, my win rate in meme coins was 10% or 11% or something like that, but it provided most of my return 2025, which is kind of insane. So, um, so you don't have to have a high win rate.

You just need to get a couple to work and they are insane. Uh you just don't want to over over uh over push into one of them to on one of them. You got to have a kind of a at least for me you got I got to have a a range of them and buy them as low and possible into the support level as possible so that they don't don't kill me on the way in as most of them will probably go to dust.

So this is a setup I'm watching. It's going to have to develop over the next few months before I'm interested in it. But just uh has my interest now.

Um hood real quick uh is the last call for immediate bullishness with a now ideally the Thursday low holds. doesn't give it much room to key support for this setup at 92. If 92 goes, then the next real support I have is down here at 48.

That's not a target. I'm just saying that's the next support. It can always find maybe the range low. Um it's possible that it finds something in here, but um I don't see anything reliable in there other than the range low and this level down here, but sometimes markets just find levels to to um put a base in.

So in this setup added this week again it's um again I like buying you know at the sort of the last stitch effort for bulls. So you know I'm comfortable buying even if it breaks.

That's just the way I operate. But um because the skew is really high if it works but that's where we're at. Again support is 92.

What this channel has said about $HOOD

ElliottWaveTrader has 2 calls on this stock; only the adjacent ones are shown.

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