A disclaimer first: I am new here & still a novice to trading. Also, I don't understand much about Elliot Waves, except that I found Elliot's little booklet Nature's Law, 1946, wildly speculative (or esoteric, I should say), and philosophically misguided. Those who are interested in the mathematician Leonardo of Pisa (Fibonacci), might rather want to consult e.g. Morris Kline, Mathematical Thought Ancient/Modern, OUP 1990, vol I, 205 f., 209, 237, before making a judgment about the feasibility of Elliot's numerology, which he thought could be based on Mr Fibonacci.
That said, the chart literally cries for a correction. And given the waves so far & the range between the two trendlines, it might be a rewarding bet to place a short on the index. I myself will wait until tomorrow, say, 2PM ET, to check out how it's going. And if it begins going down, I'll be thinking about a short through the Asian session. If it continues to go well, I maybe hold it two, maximally three, more days.
Tight SL again; first T/P at Fibo 23.6%; second at 38.2%.
That said, the chart literally cries for a correction. And given the waves so far & the range between the two trendlines, it might be a rewarding bet to place a short on the index. I myself will wait until tomorrow, say, 2PM ET, to check out how it's going. And if it begins going down, I'll be thinking about a short through the Asian session. If it continues to go well, I maybe hold it two, maximally three, more days.
Tight SL again; first T/P at Fibo 23.6%; second at 38.2%.
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'Political' reasons same as in previous posts. Note also the last three lower Highs in the stochastic above.
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Well, there goes my 'prediction'...
www.tradingview.com/chart/g2BjzXV2/
Thus didn't open a short yet.
The Dixi runs pretty cool, though:
www.tradingview.com/chart/g2BjzXV2/
www.tradingview.com/chart/g2BjzXV2/
Thus didn't open a short yet.
The Dixi runs pretty cool, though:
www.tradingview.com/chart/g2BjzXV2/