In the backlink I was modeling UVXY in a 4th wave. Maybe 84 is ambitious. The minimum requirement will be 5 waves off of EF4 (wave 4 was an Expanded Flat, not the HT - Horizontal Triangle) that I modeled it to be. I think I will sometimes put in a wave type indicator like that so people can figure out how I got a certain count. The wave that will get you over and over again is the expanded flat. The can be downright hard to spot in real time. So count the waves carefully. EF are like FC (flat correction) in that the wave count is 3-3-5.
After 5 up is done, get the heck out and let it fall. Sidestepping the big a-b-c could save you30-40%!! Buy and hold is for people who have no model for what to expect next. We might not always be right, but we will always know quickly when we are wrong and that is something no other TA is any good at.
Once I see a-b-c down from the top I'm going big and long with tight stops because the next big move will wave 3. This should easily double during wave 3 and it will likely do it most riki-tik.
Monday, August 31, 2015
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