At the end of last week we were looking for the decline to resume as we reached the proposed fourth wave target area and so far the market has cooperated quite nicely. Ideally we are looking for new lows below white 3 which would complete the cyan 3/C and could easily run into the 1700's. Although it is not our preferred count, there is some potential that the decline into alt 3/C was all that was required for this correction at a larger degree because it would have satisfied a 23.6% retracement of the rally wave from the 2011 lows which can be seen on the linked related ideas long term chart. The magenta labeling covers this alternate path, so caution from the short side is warrented as we approach the 1900 area. Our resident pro on risk management and trade sizing Randy has put together a nice article on risk management that we'd like to share with you and think you'd enjoy. Plus we also have a recap of our webinar from Sunday evening which demonstrates one of our market analysis systems. If you have any questions about our systems or becoming a member of MCM contact me any time at john@mcm-ct.com. Thank you for your time and we hope you have a profitable trading day ahead.
Risk Management Link
mcm-ct.com/blog/sp50...nge-risk-management/
Waves Webinar Recap
mcm-ct.com/blog/webi...llow-up-and-content/
Risk Management Link
mcm-ct.com/blog/sp50...nge-risk-management/
Waves Webinar Recap
mcm-ct.com/blog/webi...llow-up-and-content/
