Just wanted to draw this channel for final 5 move down possibly. I wanna see it bounce tomorow to top of that green channel for abc and buy puts on the final 5 waves down. Gonna watch at market open, do your own due diligence this is just for me to put out the ideas in my head for possible entries and exits. Not predicting the future lmao
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If i see move up to 19.30 and see it starting to reverse I'll probably buy a put there to ride it down for 5 waves. And if price does go below the start of the green 3 wave then it's definitely 5 waves down and put city
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after hrs it was trading above 19.30s gonna see once market opens if it turns around a move up all the way to near green 1 wave is valid long as it doesn't cross but if it does get really close to one wave i wouldn't be comfortable with buying puts there
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and of course with elliot waves you can count this in a few more alternate scenarios which i'm just not going to chart up lol
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if green 4 wave crosses 1 wave its invalid need to re count
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out of the channel, still looking for lower low though
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current count invalidated, might be a larger 4 wave not sure. reassessing
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jezzzz long ass sideways 4 wave but finally broke down for the lower low i was looking for.
Also, another valid count may be that the correction you've been tracking is actually a large fourth wave of primary degree. Think about it, the log chart shows five waves down for (C) completed, and the correction appears to have ended at fourth wave of the previous degree. I'm just trying to help people think logically.
stuartbaker
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Log chart on the daily shows the channel completed. No need to short so close to the bottom.
whiskey4
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@stuartbaker, yea man lot of ways to count this 36 different possibilities on corrective patterns not to mention combos. This is just for me and my own ideas charts will / can change as price action tells a different story
of course all elliot wave people can argue count 100 different ways. I don't care if i get the count that wrong, just the trend and if i can make money lol. I have definitely kept in mind what u said about alternate counts thanks
whiskey4
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@whiskey4, i also typically never trade 5 wave of ending C wave its too dangerous, but i just change up how much i spend. Usually just trade a 100 bucks or so no more. I'm looking to go long