Sure, no rush... Will have plenty of time to play with it when you are wealthy as a result of successful daytrading.
So much for top fishing! When cycles get to completion they either reverse and ATM or go into overdrive continuation and that's where the 30min and 15 min can pay huge dividends keeping you right in reading the 1 hr. The pop down from 44 was a nice no brainer PIB and when I saw the screamer reversal (CCI 14) on 15 mins I thought we'd test the Highs again. When cycles are looking mature and High's or Lows are broken, most times a trend will continue well past the last high or low... especially if there is a build up of energy as the CCI indicated. A while back I had speculated about the possibility of a Daily sideways channel but said time would tell. Well that's gone now. I would have liked a Daily down move to refuel and go up again but this push up is giving mature cycles right from 1 hr thru to the weekly. The monthly resistance is not far above us and the same description applies to the daily as to todayâs intraday. Very mature cycles so will it be a break up and trend or a big reversal? One thing's for sure, we are in for some very big moves in the near future. Funny thing is if you can read the 15 min chart or lower TF you will be in the right trade at the right time. Some of you had asked me how I know where the top or bottom is. Well here's a good example of educated guessing because it looks mature. You work you way into the trade by taking the signals in the lowest TF you can use because sometimes PA reverses straight away and runs and runs. But sometimes it has a little pullback and continues. Trading isn't about being a prophet of a future Time & Price reversal; it's about making a profit trading what you see in real time. Believe me, that's so much easier! Yer Eliott man has been selling Grand Supercycle Top books since 1980 and telling the world to go short. Bob Beckman preached the Eliott top from 1980 to 1987 and then when the '87 October Crash happened claimed he got it right. That's why I'd rather talk about fishing for a top or bottom. You can do that in a very safe and profitable fashion.