Friday, December 11, 2015

12/11/15 - EOD Update

A few different counts have been invalidated with the decline over the past few days. The long trade I took is done (glad only took a half position). We now find the market at some levels that is marked with converging channels and Fib levels.

2020 is at 38% and 1992 at 50%. May look for another long position to trade should the market find some footing at the lower end of this gray channel. Ideally I would like to see a five wave bounce at the 15 min interval first so lets see what happens next week.

60 Min

That five wave move at the 15 min interval would look something like this.

15 Min 

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