My cycle-based indicator was close to a buy on 4-hour charts
yesterday. With a strong move after hours and into the opening
today, obvious was that a wave 2 or 4 bottom was put in place. Wave
2 & 4 bottoms reverse abruptly and produce a gap. They are easy
to spot to a trained eye.
Several counts were pointing lower, and with a jobs report ahead
I did not want to be long with a tight stop. I tried to fade a move
into 4110, but was proven wrong, so I stepped aside.
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My cycle-based indicator was close
Logical Short?After the fact, some will point to a chart ...
Posted by junkie on 5th of May 2023 at 04:13 pm
My cycle-based indicator was close to a buy on 4-hour charts yesterday. With a strong move after hours and into the opening today, obvious was that a wave 2 or 4 bottom was put in place. Wave 2 & 4 bottoms reverse abruptly and produce a gap. They are easy to spot to a trained eye.
Several counts were pointing lower, and with a jobs report ahead I did not want to be long with a tight stop. I tried to fade a move into 4110, but was proven wrong, so I stepped aside.