See the red text I inserted 9 months ago. (A) ended within 4 bucks of initial estimate. (B) has now retraced a Fibonacci 50% of (A) and appears to have completed a double zig zag.
At 15 minutes I can count a small 5 up followed by a small 3. If this morphs into two more small 5s up then I'll call the end of (B) at (z)...within 2 bucks of the 113 target called 9 months ago...
If (B) has bottomed, then (C) would equal (A) at $146...so that's a good target for (C) before the bear returns...
At 15 minutes I can count a small 5 up followed by a small 3. If this morphs into two more small 5s up then I'll call the end of (B) at (z)...within 2 bucks of the 113 target called 9 months ago...
If (B) has bottomed, then (C) would equal (A) at $146...so that's a good target for (C) before the bear returns...
Trade closed: stop reached:
Okay...looks like (B) will extend down to ~112 at a .618 retracement of (A)...close but be ready to go long after 112 retracement target is reached...will update when the count is more definitive...
Trade active:
looks like the retracement has ended at 110.66 with a complete 5 in final wave (z). Time to look long until (C) equals (A) at approximately 146...
Trade active:
typo in the above... based on the 110.66 low, target is ~143...not 146
Trade active:
wow...looks like we are in for a deep retracement of (A). The .786 retracement would end at 106.85...wait for a small 5 up from that area before going long...still targeting ~143 for (C)...sentiment is too extremely negative for the short side to continue...
