First off, let me say I am NOT trading into this due to the academic possibility of two outcomes. WHICH NEITHER, include a continuation of the down trend of the last 10 months (again academically proven to have ended).
Scenario 1. We have a failed wave C about a week ago, which you would have to dig really deep to find the studies behind as well as it being very rare. If you were to find it you would see that the precursors are there as well as, "if (blank) happens, than a failed C wave is imminent". It basically happens after a long retracement and the market is impatient and eager to start wave 3. If that is the case, it will stay boring then all of a sudden BOOOOOOOOM its off and traders are FOMO. I cant be looking at the price action all day in order to catch it before significant losses.
Scenario 2. Is that this is the completion of wave 1 and wave 2, which are known to take forever ( not wave 4 forever, but nonetheless forever). So even if we do correct to the lower green box, it would not be for long, as it would be wave 1 of wave 3. So for me the risk way out weighs the reward.
I could be wrong and if so, that would mean I would be studying even harder than I have to see what I missed.
Scenario 1. We have a failed wave C about a week ago, which you would have to dig really deep to find the studies behind as well as it being very rare. If you were to find it you would see that the precursors are there as well as, "if (blank) happens, than a failed C wave is imminent". It basically happens after a long retracement and the market is impatient and eager to start wave 3. If that is the case, it will stay boring then all of a sudden BOOOOOOOOM its off and traders are FOMO. I cant be looking at the price action all day in order to catch it before significant losses.
Scenario 2. Is that this is the completion of wave 1 and wave 2, which are known to take forever ( not wave 4 forever, but nonetheless forever). So even if we do correct to the lower green box, it would not be for long, as it would be wave 1 of wave 3. So for me the risk way out weighs the reward.
I could be wrong and if so, that would mean I would be studying even harder than I have to see what I missed.