Today's doji candle strongly looks like the bearish B point of the ABC after the recent 5 wave impulse that ran into the edge of the descending pitchfork. I don't normally trade after hours but this looks very hard to resist. I am going to possibly stay up all night to trade this short or at least set some alerts to wake me up if things start to look like it's capitulating.
6e tends to get its best trading done during the london session so I may find myself getting up at 3 in the morning to keep tabs on this.
6e tends to get its best trading done during the london session so I may find myself getting up at 3 in the morning to keep tabs on this.
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Elliot plan for an area to find shorts tonight and tomorrow. The recent elliot count on the 1 hour chart is not very clean but it does make a valid count if you go by bodies not wicks.
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More detaild count shows might be able to get the entry in before midnight.
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Had a fill last night at 1.11925 which I stayed up until 1 am to see what it would do. It just was flat so I eventually went to sleep. Was up $430/contract at one point last night and is now back kind of close to my entry. I've moved to a break even stop to give it the maximum amount of room because the thesis on this trade is that it is at a major long term reversal point. If I cant hold to the close this afternoon I will.
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Ended up getting stopped at break even. This is why I don't usually trade overnight setups like that, although it was kind of worth the attempt due to the elliot count. 6e is not showing any initiative and is just chopping. It might be good for fading peaks and exiting at the mean but it's not ready for any big moves yet.
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