The orange verticals on the model above were meant to show the length of wave 3 which should thus be a limit for wave 5 if my count was correct. Why? Because my count said wave 1 was longer than 3. If 5 was also longer than 3 then 3 would be the shortest and that is not allowed ergo I would know that my count was wrong. As you can see from actual below, the final wave was careful not to go lower than $2.27 (at least not so far) so my model is intact.
This has to reverse upward almost immediately or the model will bust. Set your stops just below the prior low.
No comments:
Post a Comment