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nice trading cimac
have a fractal and a cycle coinciding today, both of which say down to 27/1. Fractal suggests a decent drop in a week & there’s a separate DeMark sell signal saying we could fall 100 handles or so to reach his swing target .
Who knows , but added to spx shorts and NQ shorts today .
Prob wrong over 2283spx so not bad risk/reward.
Cheers baaa
I want to see the monday action before adding to my Dax short
as I have a potential cit centered tuesday 24th which has
a +/- 1 day tolerance. So if it came early it would
only be the trading day after yours.Never give up, never surrender.
still short so hope you are right.trump inauguration and opex out the way,be nice to open to a big red candle tomorrow.a pop and drop is fine though.always a danger they run them stops at the highs first.vix is so low im expecting volatility to pick up markedly soon,ive been wasting time and energy remaining swing short when i should of been banking.roll on next week for some direction.
ASX 200 @ Fri 20 Jan 17 – Reassessing the alternative count
Was the alternative count ruled out too soon?
See the DAILY chart. The red rectangle highlights the target topping range for the alternative count if the positions of wave-cc’s 3rd and 4th are elevated to the next higher pivot.
Fully compliant with Elliott Wave Theory for a five wave move, wave-cc’s internal ratios are 100:214:84 (five wave moves typically play out as 100 : min 162 : 62-100).
This week the index breached the presumed 4th wave low at 5665 (magenta horizontal) after reversing from within the target range, potentially indicating a longer lasting top. The reversal also occurred at the top of the trend channel from Feb 2016.
Please note that:
• The labelling in the chart has been altered to reflect a potentially bearish double three combination upward correction (W-X-Y);
• Nothing in the price action to date rules out the bullish count to 7000 although confidence in this count is waning.Thanks for your thoughts guys.
For now we trail short stops and see
what kind of drop we get.Never give up, never surrender.
small short Dax 11600
Trailed stop and got hit at 11540
so I take the +60pts and wait.Never give up, never surrender.
nice cimac.
did much the same , as I’m thinking we rally first in rth and trap the peans as Bill would have said…
I will repeat the short if we tag Dax 11600
Closed again.
I will now wait and see if we hit 11600 again later or on tuesday.
Never give up, never surrender.
Starting to build a short Dow trade at 19810 and
looking to close sometime on friday.I see my analysis now aligns with baaa which
gives me more confidence.Never give up, never surrender.
Starting to build a short Dow trade at 19810
Close 19794
I think a higher entry is possible.
Never give up, never surrender.
Short Dow 19802
I thought we could rise to 19820 for a better entry
but must have a foot in the door.Never give up, never surrender.
Monday looked like a weak s4h and if so
then a s1l s2h s3h s4l (normal) would
give the bias that shorters want.We go forward with due care.
Never give up, never surrender.
Euroland is an inside day atm.
IF that is contained (no upside break) and the US markets
play the same tune, it would not be too bad for bears
as it could be consolidation prior to more falls.Looks like Dow 19820 will be tagged.
Never give up, never surrender.
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