I can not make out the near term picture as clearly as I like as very chop chop,
so I am posting a count but with reservations. The same question as Friday though and that
is, is this a 5th wave up or a 'b' wave of a 4th. I have had to re-jig
the 100 day cyclic phasing to take into account this current structure
and as such, it appears we had two long cycles concurrently. It is
therefore possible that this next 100 day cycle will run short and for
that reason, I am gunning for a triangle overall in the 4th, as time
taken to run shorter legs may 'catch up' on the time factor. For me,
this makes the current leg up count as a 'b' wave overall and thus, I am
looking for a bigger decline into a 'c' wave of the triangle and not a
4th wave of the 5th wave up. Waiting for a turn that helps to clarify. Initial target for shorts is 15300 which hopefully will pick up a 'a' wave of any descent.
Please make sure you have read my disclaimer! This is a personal journey into self-tutoring in technical analysis. Did you read that Disclaimer yet?
Disclaimer
Disclaimer: This blog should be read as a 'whiteboard' of my daily thoughts and ramblings and specifically not, in any way, advice to trade. My interpretation of the works of Gann, Goodman, Fibonacci, Elliott, Hurst et al; is entirely my own and should be read as such. Any opinions, news, research, analyses, prices, or other information contained in this report are provided as general market commentary, and does not constitute investment advice. I will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
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