taking 1/2 off of the long trade. will post a 60 min chart in a few to highlight the larger wave 4 potential
— Grand (@grand680) September 3, 2015
One thing to note short term is that price stayed within the ascending channel so far. |
| 5 Min |
As for the 60 min chart, it now looks like if this count is correct, either a wave -iii of v will flush on the open tomorrow or a wave iv triangle may still be in the works.
So at this point, we just need to be ready to play the quick third waves (either wave 3 or Cs).
 |
| 60 Min |
Should the market bounce at the open tomorrow, I would like to see the double bottom target tested. However, keep in mind, even though I'm looking for that test, it is not all rosy for the bulls. It could just be a backtest of the broken trendline on the daily chart below.
 |
| Daily |
