This is a tough one guys. Bear Markets are hard to figure out. This is why I like the laddering method. I also have a catastrophic loss stop set on some markets as well. It all depends on your financial situation, time horizons and patience levels. I've been through some long ones over the years, so it's nothing new to me
If this ABCDE Triangle holds, then we should see some short coverings soon. If it fails then the Yellow support lines are were I put the bulk of my Long ladders.
The one thing to keep in mind when studying EW is the 5 wave impulse on the last bottom. I put a yellow arrow pointing to it. It was a perfect impulse with no questionable form or no EW rules violated. So an impulse means one of 2 things. Either a new bull run or ABC large correction is still in the process of playing out, or This is wave X of a large WXY or double WXYZ correction. The break of the white ABCDE triangle would tell me which it is. This is how i can play with my speculation money set aside while my core holdings stay in cold storage
The next 2 days should let us know what it's going to be
If this ABCDE Triangle holds, then we should see some short coverings soon. If it fails then the Yellow support lines are were I put the bulk of my Long ladders.
The one thing to keep in mind when studying EW is the 5 wave impulse on the last bottom. I put a yellow arrow pointing to it. It was a perfect impulse with no questionable form or no EW rules violated. So an impulse means one of 2 things. Either a new bull run or ABC large correction is still in the process of playing out, or This is wave X of a large WXY or double WXYZ correction. The break of the white ABCDE triangle would tell me which it is. This is how i can play with my speculation money set aside while my core holdings stay in cold storage
The next 2 days should let us know what it's going to be