Russia ETF RSX Daily Rally Appears to be Completed ABC Flat

512 11
To all of my followers - you may not see me publish many Elliott Wave formations, but this one is far too good and far too low of a risk NOT TO publish it.

Take a look at this pattern and you will see what looks like an IDEAL, PERFECT and LOW RISK trade to sell short Russia here.

The rally is a nearly perfect example of a corrective A-B-C flat rally that corrects the impulsive decline into the lows in February.

Finding a pattern like this is exciting and I hope we can all profit from it.

Tim 10:17AM EST 5/15/2014 RSX 24.18-0.35 (-1.43%)
Subscribe to my indicator package KEY HIDDEN LEVELS $20/mo or a discount for a year and join in the trading room KEY HIDDEN LEVELS here at TradingView.com
Well... It ultimately made it to the generalized projection. The impulsive decline was indeed an impulsive decline and portended lower prices, but the rally went higher than expected.
Nice chart! Thanks.
FYI news: http://finance.yahoo.com/news/putin-shanghai-expedition-stokes-gazprom-045434584.html
It seems a impulsive rally for yesterday :)

where is the SL located?
+1 Reply
timwest TamirHa
3 average true ranges. I use 11-day ATR.
+1 Reply
Is 25.00 a good SL. I can't calculate, what you are suggesting
timwest HamedAghajani
Add indicator ATR and put the setting to 11 days. Use 3 times that ATR number and add to your entry price.
timwest HamedAghajani
I put "AVERAGE TRUE RANGE" on my chart and with 11-days, yesterday's calculation was 0.471 or 47 cents. Three times 47c is 1.41 above your entry.
I did a little of bit pattern analysis, which currently I am learning. The Gartley pattern suggests a potential reversal zone between 25.05 and 25.34.
HamedAghajani HamedAghajani
Shorted the Market With E:25.20, SL: 26.50, TP:21.00
HamedAghajani HamedAghajani
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out