We are heading long. I think once December's low volume price movement comes to an end, we will be getting all the January pressure we need to start making the push long. I think we will be making a Double Bottom here for the last two weeks of Dec, then shoot long at the beginning of the new year; just as i've already illustrated.
Downtrend > Shorting > in Ascending Triangle > Aiming my entry upon a Bearish Breakout to the bottom side. > Awaiting Entry Signal/setup to print at the top of A. Triangle > Currently at a resistance level > 1:2 R:R >Stop behind 50ma > Feeling "Strongly" bout this play, but still waiting for setup to confirm. AKA making the 'safe' entry
I have gotten in on this trade... As of now it looks like the 4 has more room to go up and is going to see how high it can climb before coming down. From what I see it has a lot of room to soar; the ceiling (Base of wave 1) is high. Soooo, I thought... if I were to calculate for that, what would it look like??? And this is what I came up with...
Simple. Easy to keep up with.
Follow the numbers. This pair seems to be a commander's dream. That climb to 3was the cleanest climb i've ever witnessed. That was one in a million folks. That was lightning striking. You will never witness something like that again. I hold no delusions that the rest of this 'won't' play out like that, but man.. it was great while it lasted.
Read up... all notes on chart above.
ON H4 I see a 5 to A. Much like I saw for NU. Looks like this finally caught up. Hopefully this goes straight into a sell.
Simply look left... Each point of conflict has been mapped out. Now we just need to respect history to avoid any surprises. I am shorting this pair. Selling 5 - A. Leaving B ALONE. Then resuming my short, but Selling B to C.
This is a long term short. Hopefully Feb NFP would kick this off.
Read the chart. All pertinent information is there.
Elliot Wave. Correction pattern beginning its 5 to A run. See notes on charts. Only concern is the down force of 5... may prove to be too much and continue... Place stops appropriately.
This is just a better view of the weekly ABC possibilities.
Okay... things look like they were about to go turbo with my original plan so I need to open my eyes more to really see what was happening... It is just as described... Option one may not work out... So I now provide option 2. Time will tell.... but my position will survive both options regardless. . .
Plan here is simple. Once this breaks, and retest.. Sell this level-by-level.
This is how I see The DAILY 4 to 5 completing on the H4 TIMEFRAME. I see a 5 wave down. See Chart.