Sunday, December 20, 2015

12/20/15 Update

Should get interesting this week. The 15min chart I have been tracking to go long (took a half position again) is also showing what may be five waves down.

The primary count for me at this point is an a-b-c corrective.  For this trade, the invalidation point is1993.26.

Should a breach below 1993 occur then I would look to the daily chart  below for some guidance.

15 Min

60 Min 

Some time ago, I was tracking the yellow (w)-(x)  count. This would be one to consider should 1993 be lost. I have also introduced a larger triangle count (a)-(b)-(c)-(d) in blue. That lower trendline would hit near 1890ish should wave (c) of the triangle be playing out. Note this is pretty much the same result for the yellow option, except the triangle would require a lil more chop.

So first things first. Let's see if 1993 holds. If not, then I'll be looking at the daily chart options.
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