This is the local count that I get when looking at the previous 4 wave count which is a possible A wave down, as a full macro retracement. The red wave count shows possible target points when following the down trend, basing off the macro model I am following shown below
The green wave count is going off if instead what I am calling a wave 5 is actually truncated and completed, or is an initial impulse wave following an ABC correction (what I have labeled as 1, 2, 3)
However I have been opening only shorts as my perspective of the market is still bearish.
The green wave count is going off if instead what I am calling a wave 5 is actually truncated and completed, or is an initial impulse wave following an ABC correction (what I have labeled as 1, 2, 3)
However I have been opening only shorts as my perspective of the market is still bearish.