For some reason today I took out the chart on XLF and saw my wave projection which I outlined after the materialization of wave 3 and was very surprised. We have a very nice red 9 setup to lock in wave 4. Price is now heading to finish wave 5 at around $24.
I was about to re adjust the wave 4 to fit in the realistic price action but somehow felt that it is better to leave the wave projection as is.
I look forward to seeing wave 5 being achieved. The trade idea is invalidated when price breaks above wave 4.
For those Elliott Wave Theory users please note that I am not utilizing the original Elliott Wave Theory rules. I follow a mechanized version of Elliott Wave created by Mr. Tom Demark which abides different ruleset.
Anyways, stay safe out there and good luck trading.
I was about to re adjust the wave 4 to fit in the realistic price action but somehow felt that it is better to leave the wave projection as is.
I look forward to seeing wave 5 being achieved. The trade idea is invalidated when price breaks above wave 4.
For those Elliott Wave Theory users please note that I am not utilizing the original Elliott Wave Theory rules. I follow a mechanized version of Elliott Wave created by Mr. Tom Demark which abides different ruleset.
Anyways, stay safe out there and good luck trading.
