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.
What if we do not bounce and go higher. Would you suggest a stop somewhere around here?
ReplyDelete$26.37 is today's stop.
ReplyDeleteNote 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.