This is a count that I like. A lot of different ones out there but I've been following this one I've done up and it's been working good so far.
Largest degree wave I think we are in is the Blue C with targets up to $4800... would support the whole Santa rally.
I'm following the smaller degree count in Green, where we potentially could be putting in a pink wave 5 (smaller degree) around $4700 - 4720 area. If so, what I like is the general internet talk of buyers hanging out around $4650 - 4660 area. That would support a wave 2 Green pull back and could bring us up with those buyers up to the higher targets of White Wave C.
On pull back I'll look to try and buy around 4650-4660. I'll keep a tight stop loss. If that fails, last support to support this count is down around $4600.
There is an alternate count, in the baby blue-ish kind of color, where we potentially could be putting in a baby blue wave B (which would be between $4711+). The baby blue count would bring us back down to $4450 area.
I'm going off the green count. Caution around $4650 area. If we can get a pull back, I'll leg in. Below 4650, could go down to $4570. Below 4570 I'll transition to the baby blue count. But as of now, my targets up are:
UP: 4720; 4740; 4767 --> Support Santa Rally and the idea of going up and touching 4800.
DOWN: if below 4650, think we will target down to 4600; 4570. Below 4570 I think we can go test 4450.
Largest degree wave I think we are in is the Blue C with targets up to $4800... would support the whole Santa rally.
I'm following the smaller degree count in Green, where we potentially could be putting in a pink wave 5 (smaller degree) around $4700 - 4720 area. If so, what I like is the general internet talk of buyers hanging out around $4650 - 4660 area. That would support a wave 2 Green pull back and could bring us up with those buyers up to the higher targets of White Wave C.
On pull back I'll look to try and buy around 4650-4660. I'll keep a tight stop loss. If that fails, last support to support this count is down around $4600.
There is an alternate count, in the baby blue-ish kind of color, where we potentially could be putting in a baby blue wave B (which would be between $4711+). The baby blue count would bring us back down to $4450 area.
I'm going off the green count. Caution around $4650 area. If we can get a pull back, I'll leg in. Below 4650, could go down to $4570. Below 4570 I'll transition to the baby blue count. But as of now, my targets up are:
UP: 4720; 4740; 4767 --> Support Santa Rally and the idea of going up and touching 4800.
DOWN: if below 4650, think we will target down to 4600; 4570. Below 4570 I think we can go test 4450.