Ewj: elliott wave

Here is a good point to cover short, may cover or wait for a higher high to confirm buy signal.

 

Short covered. Looking for another short opportunity.

 

Subminuette wave iv is developing. Plan to short sell at the end of Infrawave iv.ã:v. Short when there is lower low near Dow 13972.

 

Plan to sell short after higher high (Bull Trap) and the lower low.

 

Here is where to re-enter short position, plan to keep the short position overnight. But wait for a lower low first. Set stop a the last high. Target length = another 100,10,20 points.

 

No short. Quit for today. Hold long position.
This may turn out to be end of a-b-c instead of i,ii,iii,iv,v

 

Status:
Long position intact: -150,15,30 from the max profit. To take profit or wait until all profit has evaporated.
The Market is considering whether to jump up 200,20,40 points or dive down 100,10,20 points.

Strategy.
Wait at open. If the Market can go above the last yesterday high keep the long position. If the Market goes below the last yesterday low then short sell. Set target near Friday low ~ 100,10,20 points and sweat it out for the long position. Set stop at the last yesterday high.

 

Short position placed and move stop to today high.

 

A new low in the Dow is pending.

 

Status:
Long position intact with 150,15,30 less profit.
Short position closed at yesterday close.

Scenarios.
The Market is deciding whether to assign 1) a Subminuette Wave v failure, 2)Microwave .i-.ii up or 3)down. Target for scenario
1) is 70,7,14 points up then 150,15,30 points down.
2) 200,20,40 points up.
3) 70,7,14 points down then 150,15,30 points down.

Strategy.
Wait at open. If up keep long position. Consider short sell at 1) target when there is lower low. Set stop at the last high.
If down, short sell below Friday low, cover at 3) target when there is a higher high. Re-enter short position near end of Subminuette wave iv.