Trying to to ignore the noise coming out of perma this and perma that, This is the deal right now.
The rise from April 21 looks corrective. If I am right (always a big if with me), It may have finished already with a double. It may also have more to go to make a triple.
A break below 830 will make it very unlikely for it to become a triple.
There may be a lead-up to the the FED show, and their matinee blah-blah, and I don't want to be caught with a position that I started for a fast trade.
I took fast-trade shorts off for profit, and am going for a well-deserved breakfast.
Treat this as a study in wave formations, and nothing more.
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2 comments:
I'm new to your blog so please excuse dumb questions. What do you mean when you refer to double and triple? thanks
no question is ever dumb!
those are variations of combination correction under Elliott Wave
look up something like Elliott Wave Correction combination on google, and you should find it
let me know if you have trouble locating info about it
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