Elliotical Approach to US30 Short.Hello Traders!
1. The US30 market is on the verge of completing its 2nd wave of Wave C of the complex correction as originally published in a prior idea (link attached).
2. We see an ending diagonal forming in the 1hr tf at the moment.
3. Also, wave 4 often divides an impulse into harmonic ratios. There can be that possibility with the division of 61.8% and 38.2% (total 100%). We take this possibility into picture because we also have the retracement level of 78.6% of wave 1 at almost the same level.
4. What is an invalidation level ? It is the level at which are analysis will have been wronged. So, in this case, if US30 market goes above 34950, our analysis will be wronged and we will have to look for a new picture. That's how accurate Elliot Wave Theory is!
5. Clearer targets will be available when we have a clear impulse down.
Do use proper risk management.
Happy Trading!
Profits,
Market's Mechanic.
