Here's the basic impulse wave pattern we tend to find inside of a bear market. Our best trading opportunities come positioning high into the W top area of correction and looking for profit targets and short term reversals after the completion of the second strong fall.
Trade active
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Bump because I think Elliot bear pattern may be useful again now.
Bull has been better for 2023 so far but it might be failing.
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Second bump.
In October of 2021 I posted the bear template to show how to follow a bear move.
In November of 2022 I followed this up with the bull template to trade bull moves.
Recently, in September of 2023 I again said I think the bear template is in play.
And I am reiterating that now. At this point in time, I think it will really benefit people to understand how bear market structure forms.
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My 2021 squiggles (Based on Elliot's 1930s squiggles) look exactly like the 2022 and 2023 chart does.
These are really hard to trade, you can't keep anything overnight, it's not investing it's just pure speculation on wild swings. GLTA!
decklyndubs
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@DaddySawbucks, I hate trading down too but it's not that hard. On massive downwind you expect pullback just as in massive explosion you expect retracements and consolation (bear flag or bull flag). Set your targets and aggressive stop limits. I usually just wait for better weather but it's still possible to make money on the way down.
DaddySawbucks
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@decklyndubs, ofc I load up on puts but these are so damned chancy you really got to buy them just on cusp of drop and dump them after strong sell, cant' hold these even for more than a few hours ffs. i lost lotta bank over the years trying to keep bear spreads in account ffs
holeyprofit
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@DaddySawbucks, I often trade in the futures and Forex markets where there's no overnight. And in the Forex market there's always concurrent bull/bear markets.