Here are the possible wave counts, corrections, and target prices for the next 2 weeks.
Notice the 3rd of a 3rd wave gap. This is huge and I don't expect it to filled like yesterdays gap... yet.
I think we now have a long sideways correction that will be very choppy and corrective. Yet these provide great opportunities to trade.
The safer and longer term view would be to stay slightly bearish and place a short on the next little pop up and then let it just grind down towards wave 4.
Even safer for those that don't feel comfortable trading, would be a buy at the green buy zone, then a sell at the red sell zone.
This has been quite the rally since Dec 24 lows hasn't it?
I am still bearish the market on long term going into 2021, yet I have to go with the flow to make money on my trades.
That means we should look for a correction to the moves up recently and now simply be aware of the need for time to pass and "digest" this newer higher level.
If the wave counts are correct, we have completed black wave 3 and now look for wave 4 correction.
Then support along the Green support line from Jan 3 lows... that should then begin 1 more push to the wave 5 highs!
I am now short the market for short term trading.... looking for the wave 4 lows
Enjoy
Notice the 3rd of a 3rd wave gap. This is huge and I don't expect it to filled like yesterdays gap... yet.
I think we now have a long sideways correction that will be very choppy and corrective. Yet these provide great opportunities to trade.
The safer and longer term view would be to stay slightly bearish and place a short on the next little pop up and then let it just grind down towards wave 4.
Even safer for those that don't feel comfortable trading, would be a buy at the green buy zone, then a sell at the red sell zone.
This has been quite the rally since Dec 24 lows hasn't it?
I am still bearish the market on long term going into 2021, yet I have to go with the flow to make money on my trades.
That means we should look for a correction to the moves up recently and now simply be aware of the need for time to pass and "digest" this newer higher level.
If the wave counts are correct, we have completed black wave 3 and now look for wave 4 correction.
Then support along the Green support line from Jan 3 lows... that should then begin 1 more push to the wave 5 highs!
I am now short the market for short term trading.... looking for the wave 4 lows
Enjoy
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.