The corrective decline is not over, based on your wave count, is
it? There were 5 waves down into today's low on 15-minute charts.
However, the PPO on 1-hour charts wants to make another push lower,
and a PPO on 4-hour charts has just made a negative cross. I read
this to mean that a move higher tonight should be sold into
tomorrow morning. There is a squeeze firing on 15-minute charts to
the upside, hence I expect a move higher tonight.
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The corrective decline is not
UPDATED
Posted by private on 19th of Oct 2022 at 05:41 pm
The corrective decline is not over, based on your wave count, is it? There were 5 waves down into today's low on 15-minute charts. However, the PPO on 1-hour charts wants to make another push lower, and a PPO on 4-hour charts has just made a negative cross. I read this to mean that a move higher tonight should be sold into tomorrow morning. There is a squeeze firing on 15-minute charts to the upside, hence I expect a move higher tonight.