We did indeed get a lower low and I slightly adjusted to a simpler count per below. If this model is correct then UVXY MUST begin to move upward almost from the opening bell.
Wednesday, March 16, 2016
[UVXY] update
At the backlink I was looking for a reversal soon but with a primary path (5 as opposed to 5') of having a final low.
We did indeed get a lower low and I slightly adjusted to a simpler count per below. If this model is correct then UVXY MUST begin to move upward almost from the opening bell.
We did indeed get a lower low and I slightly adjusted to a simpler count per below. If this model is correct then UVXY MUST begin to move upward almost from the opening bell.
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2 comments:
What if we do not bounce and go higher. Would you suggest a stop somewhere around here?
$26.37 is today's stop.
Note that if we move up today and the move is about the same length as the first wave up then I might just take profits right there because it would smell like a-b-c. But if it then dips slightly and hits a higher high then we have 5 up and that suggests a trend change.
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