Saturday, March 12, 2016

[SDRL] update

In the backlink I posted the chart below.  It called the peak of wave 1 up and provided a target pullback area for 2 or B.

Zooming in on that original chart we see the target price was the 61.8 fib.:

Below is current actual.  Now look at this chart and think about all the traders out there who don't read my blog.  They had no idea this big pullback was possible much less likely to happen.  The vast majority of them don't even "believe" in charting simply because they personally don't understand it.  Think about the advantage that you have over them simply by knowing that the ODDS are for or against thus and such an outcome.

I'm not saying that the next big move MUST be up.  I am saying that I did not ride this down because the model indicated that a big pullback was the most likely next thing to occur.  The percentages involved here are staggering.  This is not "easy money".  That is emotional arrogance which will eventually lead to misery.  The truth is that we are all gamblers here and because of the EW based setup, it's likely money.  The stop here is $3.48 in case the odds go against us.  Beware the 3 wave move to the level of the prior 4th.  This model would really like to see a strong move up at the open on Monday.

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