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make or break here for the wave 4 triangle scenario…still playing the up bias into the weekend myself.should see the nearly/always patriotic rally into 9/11,just to kill off a few more bears before another attempt lower..thats my plan until them big red candles arrive and change my mind.
bloody crooks at cap spreads have doubled the spread as of today by the looks of it…!Looking at Ftse, sp500, and Dow to try and figure out this potential 4th wave.
We know 4th’s can be the hardest to trade as the pattern can be complex.
I can’t find pts in the pattern that look safe to trade other than the
range extremes( from 24th August low to the top of the retrace ).Therefore this pattern could be very dangerous to trade until we get
a proper break which helps resolve the count.Never give up, never surrender.
From the 24th Aug low the Ftse is now back at 6250 again
which is an eye watering circa 500pts up.It looks like 3 waves up, 3 wave triangle/pennant, so
what is this current move up ?Danger exists because this whole post 24th Aug move
could be a 4th wave or a ‘B’ wave before a retest
of the low. Or it could be in an ‘abc’ to make
a larger retrace. Either way there are a lot
of potential profits and loss on tap !Never give up, never surrender.
Well from Ftse 6250 you could make a case for 6750 or 5750
which does show the potential for smiles or tears, imho.I am preparing for more family visits and when I return a
week from now the charts should have made a move so
we can make a count.Never give up, never surrender.
Double top possible on spoos with August 28th.
Has just held this morning. See if it can decline now….
Double top possible on spoos with August 28th. Has just held this morning. See if it can decline now….
decline it did ?
FTSE has retraced the whole of this mornings big up move – incredible.
mental markets Paps. What next?
If relations with China deteriorated to war, either military or economic, then I guess they wouldn’t be making the bits for iPhones any more which would, well, knock Apple’s shares a bit.
Another overnight/early morning rally followed by tankeroony. Great for trading providing you’re on the right side !!
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