As stated before, the recent sell off was nothing but a corrective wave and I was calling for buys when everyone was selling..
I am not saying the market will collapse now but if does then it makes sense and there is enough evidence to support it! On the other hand, more ATH's still makes sense too! It's all about assumptions, biases and having a set up.
My current assumptions:
1- EDT and we are finishing the last Wave. Assuming that means that Wave 1 here is the longest and hence Wave 5 must be shorter than Wave 3 so it cannot under any circumstances touch 4,021.4!!!
2- Wave 5 (primary degree) = 1.618 Wave 1 (Primary Degree)
Disadvantage: Market can still go higher to 0.618 of Wave 1+3 to 4.1k
Invalidation: 4,021.4!
Short term: It can react to this major level and retrace to 3,872 so it can be used as scalping :)
GOODLUCK!
I am not saying the market will collapse now but if does then it makes sense and there is enough evidence to support it! On the other hand, more ATH's still makes sense too! It's all about assumptions, biases and having a set up.
My current assumptions:
1- EDT and we are finishing the last Wave. Assuming that means that Wave 1 here is the longest and hence Wave 5 must be shorter than Wave 3 so it cannot under any circumstances touch 4,021.4!!!
2- Wave 5 (primary degree) = 1.618 Wave 1 (Primary Degree)
Disadvantage: Market can still go higher to 0.618 of Wave 1+3 to 4.1k
Invalidation: 4,021.4!
Short term: It can react to this major level and retrace to 3,872 so it can be used as scalping :)
GOODLUCK!
Trade active:
Scalping target as mentioned before has been just reached successfully! Now is the moment of truth!
Trade closed: target reached:
4,018.3 then drop?!
Comment:
If you knew the magnificence of the three, six and nine, you would have a key to the universe. Nikola Tesla.
Trade active:
Trade active:
