I must admit I plagiarized the wave count for wave 4 from another trader that see's through the market noise better than my abilities allow. BUT, I can see for myself, that there are 5 waves up from the channel - wave 4 - proposed bottom and that should elicit a 3 wave correction for a chance to enter long and ride the wave as high as the potential projections of 98.00 At this point wave 5 would equal wave 1 @ 96.16 which places the end of the a-b-c around 95.65/50, Which is perfect frustration for the bulls who think the trend line has been broken, flushing all those stops before it reverses. Well, that's the ideal, anyway. Reality awaits !!!!!
Comments
dojitrader
⋅
Nothing about this says a-b-c correction, although I guess a wave 2
can be simple, short and sharp. Guess I'll wait for something I
recognize before I chase the anticipated upside.
can be simple, short and sharp. Guess I'll wait for something I
recognize before I chase the anticipated upside.