My longs are looking good already on the Dow off that low. Now just a teaser: most of that leg down was like pulling teeth. The second part of the leg, I guessed correctly as an expanded flat. Now, everyone including me was looking for an thinks they have found an ending diagonal and thank you very much too for the gains. But what if this horrible price action has actually been part of a larger expanded flat in leg 2 overall, where this leg down was in fact the 'c' leg of 'b'.Just saying because the internal expanded flat could be a fractal of what is to come. I am not going to mark it up, but I'll not be closing my longs prematurely, nor trying to catch a wave 5 down!!!!!
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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