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The question is: will it reverse right here to give the Wave 3 callers some more hope or will it accelerate to the upside to deprive them of it straight away?
JA
jarek
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The geometry in ES is also there:
The question is: will it reverse right here to give the Wave 3 callers some more hope or will it accelerate to the upside to deprive them of it straight away?
The question is: will it reverse right here to give the Wave 3 callers some more hope or will it accelerate to the upside to deprive them of it straight away?
JI
jimkane
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Posts: 33,089
Yes, and recall my maxim that if I have to 'talk myself into it', chances are it isn't the correct premise. The bears may pull it off at the last second, but so far they have been hammered at every chance. This is it now, and they are gaining a little traction here. Now we see at the main bull pullback spot right here...
JI
jimkane
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And we get the obligatory reaction at the bull zone. Let's see if it sustains, or the coil tightens and it rolls off this little bounce so far. Postponing the decision, as usual, to the last second...
JI
jimkane
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And there's the little roll. But, does it just flush down? I bet it bounces right above that swing low. Postponing, once again. The time is coming soon, though.
JA
jarek
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I'm also watching this multiple lines crossing point for a possible bullish 4PT:
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JI
jimkane
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Nope, they went one tick below the swing low, and then snapped it up hard! But will it sustain? I think they will chop it a bunch more. No way the price action in here on the tick chart will tell one which way they will break it. I think only 'context' can give clues in here. You either have an idea what side you want to be on in here already, or you don't, and you'd better be standing aside if you have no clue/edge.
JI
jimkane
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Posts: 33,089
Yes, jarek, as it breaks down quicker than I suspected, it is headed right for that spot. It would be a nice place to gun it right back up again. But, keep in mind, this is rolling off the 'last chance' for the bigger ABCD, and it still is possible that may induce a 'W3' down here. But, I think that is a low probability event. We'll see. Personally, I hope they just crush it.
