possible reversal wave 3 down taking a short after confirmation

We are in an ABC wave 2 counter trend reversal IMHO... In the short timeframes the trend is down.

Of course at any given moment the odds are 50/50 but it looks a lot like a setup to go down soon to me.

KD Formerly "Kauai Dave of kauai Daves TrendTraders" over on eSignal and TCNet

I use a lot of different charts if you like this one talk to Mort Diggiddy

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I tend to enter early trying to get the full move, and in this case it is working out so far. We have an Elliot 4th wave currently and ulesss the go up quickly and with conviction we should get an ewave down, compulsive and complex.

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As i said at any given instant in time there is a 50/50% chance, so the alternative is we go up and i take small profits.

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The down wave is coming close to a reversal point.

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We should get some kind of bounce off the S2 soonish.

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Then potentially another impulsive wave down if you believe in Elliot Waves.