Tuesday, May 17, 2016

5/17/16 - EOD Update

I took a long trade again today with the pullback to 2055 since I was expecting to be a wave ii or b pullback. The market sliced through what would have been wave a or i so in general that would have been a exit.

I held on to it with a lil pain (~10 pts) since my original stop level at 2039 held. The waves continue to chop and the best explanation I have at the moment is a more complex double zigzag highlighted now on the 60 min chart.

The H/S is still a threat so I will exit my position if 2039 breaks.

5 Min 

60 Min 

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