The recent rally has been very aggressive (Much more so than I expected), but it still fits inside of the context of Elliot correction.
A big wave 2 can go up to a double top (And sometimes even feature a wick spike out).
We have clear 5 waves down. This might be the latter part of wave C.
Flat ranging top usually come in three phases.
One - Range.
Two - False breakout / rejection (Wick).
Three - The final bluffs (Strong looking candles but no new high).
We've had a range. Yesterday we wicked. This might be the final bluff candles.
A big wave 2 can go up to a double top (And sometimes even feature a wick spike out).
We have clear 5 waves down. This might be the latter part of wave C.
Flat ranging top usually come in three phases.
One - Range.
Two - False breakout / rejection (Wick).
Three - The final bluffs (Strong looking candles but no new high).
We've had a range. Yesterday we wicked. This might be the final bluff candles.
Trade active:
Have full risk off swing positioning again now.
Shorted call spreads. Bought various OTM puts. Filled various orders for long USD / Short indices.
4590 entry.
Shorted call spreads. Bought various OTM puts. Filled various orders for long USD / Short indices.
4590 entry.