This is it, I'm not taking the last short reinforcement here, after shorting the top and the bearish breakdown, this pullback is really unexpected but to me it still looks like a great opportunity to put more money into this thing rather than being scared of bulls taking it over again. Of course this scenario comes with an invalidation level... and I also gave you my target. In this case Sinewave is totally supporting the short positions, and clearly highlights the end of the bullish trend that happened right after Trump's election. Those who are familiar with my ideas will notice that there is no elliott count on this one.. just to show you that you can basically use everything to find your support and resistance levels to trade on.. but to me Sinewave will always be the key element with Momentum to confirm !
Hope this idea will inspire some of you ! I'ld appreciate any like/follow if you feel like it deserve it ;) You can check my indicators via my TradingView's Profile : @PRO_Indicators
评论
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Sorry I made a mistake in the text above "this is it, I'm NOW taking the last short reinforcement". Indeed that changes the whole meaning of the sentence ! I took the short of course !
Possible wave count? I'm getting the feeling this overall correction will be weak or pathetic.
PRO_Indicators
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@7878max, bear count not valid to me. I have two options from here.. we break down and plot a 5th wave extended to reach A point. OR we stop here and so we'll have a 3 wave structure to A, if this is the case then we will have a flat correction pbly. But to be honest I don't bet on this.. but possible still
PRO_Indicators
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@PRO_Indicators, anyhow there's not buy signal here... we're either already at A point and still have AB and BC to plot... or we're not even at A point... so we're still in early stages of the bear correction. No point putting long entries in my opinion... Shorts OK but with limited risk (this is counter trend) and with profit taking on each major support level
edro20072011
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Perfectly said......... agree completely
I am in the same position for all 3 US markets , DAX and CAC
roxananechita
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I shorted too. :) Good luck!
PRO_Indicators
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@roxananechita, Pretty confident about this one.. but this always remains odds, with possibilities of failure of course ;)
roxananechita
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@PRO_Indicators, me too. I also opened a short in Nasdaq 100 and DJIA.
Possible wave count? I'm getting the feeling this overall correction will be weak or pathetic.