againstthegrain

SB#11 - Get ready to “dive the five”

I still do not like longs on most of ags, unless you aim short term and get orthodox with your stops. Since my previous post about one month ago (see link below), SB11 is keeping its pace moving downstairs. At this point in time I see no signs of reversal, instead, my reading says we are about to “dive the five”. What comes after that remains to be seen.

It is true that technically this fourth wave could hike up to the 13.50-ish level, however, I don’t think going long at this point has a good risk/reward ratio. I believe one would be better off building shorts from here and keeping an eye on possible DX             reversal.
I agree with your idea and I am looking for a 5 down as well after thus upswing has ended. Your counting is more elaborate than mine. I just started counting 5 down from where your c is on the chart. Thanks for the idea. As 4th waves 'usually' terminate at the 38.2 fib it might be done already. perhaps a break of 1225 will confirm for real
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moving lower.
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