This last blast off is trying to scare me out of this trade, but,
the harmonics are looking pretty good. What was a shooting
star now seems to be morphing into more of a spinning top
which is more neutral than bearish. It could finish at the
top of the hour as a piercing pattern.
This also seems to be an Elliott Wave triple three
(11 swings)
if the labeling is correct, perhaps another topping signal.
That leaves the possibility of one more little down and a
slight new high in this last wave c/z.
So --- Where To Place The Stops ---
seems to be the biggest question. Especially with all those
layers of resistance looking left.
I think I'll wait until the candlesticks shine more light on
the anticipated last little zig zag which may also
provide the divergence in RSI that is not yet present.
the harmonics are looking pretty good. What was a shooting
star now seems to be morphing into more of a spinning top
which is more neutral than bearish. It could finish at the
top of the hour as a piercing pattern.
This also seems to be an Elliott Wave triple three
(11 swings)
if the labeling is correct, perhaps another topping signal.
That leaves the possibility of one more little down and a
slight new high in this last wave c/z.
So --- Where To Place The Stops ---
seems to be the biggest question. Especially with all those
layers of resistance looking left.
I think I'll wait until the candlesticks shine more light on
the anticipated last little zig zag which may also
provide the divergence in RSI that is not yet present.
