Earlier this month I forecast that we were in a 4th Wave correction of the of a possible A corrective wave. The 4th wave now looks like it could be completing so I'll be looking for a short trade opportunity. The recent push up should correct at least back to the trend line
and could break down to start our 5th wave. Of course it can become a more complex correction but we have to play the probabilities game, If I see a short trade set up I'll be in and keep my fingers crossed that we get more than a break even trade.
First Rule of trading - Protect your capital.
I'll update my analysis as price develops so remember to follow to receive them.
Any one trying to learn Elliott Wave
Theory can find a free comprehensive Building Blocks video course on my website see my profile for the link.
You can also follow updates via twitter
(link from my TV profile)
Always wait for an entry set up before risking your money.
This is not investment advice - it is purely for educational and discussion purposes.
Your Ideas, comments and questions welcome
Good luck Steve Nixon