Ewj: elliott wave

break day.
Supporting Trendline without Fundamental Support may not work.
The Bulls may throw in the towel now! :eek:
Or will there be some miracle?

 

Status.
Short "Long position" entered at the fifth of fifth wave near measured move and -250, -25, -50 points down move when there was a higher high.
This may be a trendline Bear Trap, a trendline sell signal at measured move and fifth subwave of fifth wave. Miracle does occur sometimes. Or engineered by ....!!! :eek: !!!
Short term position reversed near +200, +20, +40 at the supposed a-b-c, but reversed again at the "W" pattern confirmation as a fifth wave. Short "Long position" closed at +250, +25, +50 and fifth wave count near wave ii resistance when there was a lower low.
Hold long "Long position".

 

The Market may dip as wave ii.ã then rise as wave iii.
Strategy.
Buy at -100, -10, -20 from Wednesday high when there is a higher high.

 

If the Market tanks below measured move, wave .iv and the old and then new supporting trendling and the triangle lower trendline, it may signal wave 4)c.5.:eek:
Strategy.
Reversed short "Long position" when this happens.
Consider reverse long "Long position" too.

 

It is time to buy now. Wave c may end at wave four of a lesser degree (-150, -15, -30) or at the measured move (-200, -20, -40).

 

Both trendlines of the triangle were broken.:eek:
Both Bull and Bear Traps!
What's next?

 

Status.
Short "Long position" opened at -100 as said, reversed when there was a lower low at another -100, reverese again when there was another lower low. Short "Short position" closed at the descending diagonal triangle.
Strategy.
Bottom fishing yesterday.
Today hold long position until there is a lower low.

 

Buy now or at another dip.
Wave count OK.
Measured move OK.
Triple tops pattern OK.
Sell if wave 5)1.3:2 low is broken.

 

It's a perfect Bear Trap foretold.

Status.
Short "Long postion" reversed after open when there was a lower low. Short "Short position" closed and short "Long position" opened twice as said. Half of short "Long position" was closed at close because of the +200 target.
Strategy.
Reverse short "Long position" when there is a lower low. Reversed again after a -100, -10, -20 retracement.

 

.........as long as a bull market daily trend line continues to hold.... we are in a bull market
...... if that trend line breaks.... several shake outs already..... then the bear lives....