The current count is below. It should come as little surprise that I would not hold this chart. We have a move back up to the 38.2 fib which also filled a gap. The chart will have to do something to convince me that a deep vee second is not coming next.
Buy the dip, don't chase rallies. Always be more fearful of losing capital than of missing out on profits when the odds begin to pile up against you like this. A gap above the 38.2 would have me looking for the next small 3 wave pullback.
2 comments:
Sold 80% of my position @ $2.65 shortly after the open. A 3 wave pullback would be nice to play the next push higher.
Exactly at the 50 fib. It has now doubled off the bottom just like my model predicted it would. EW even amazes me sometimes...
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