Elliott Wave Live

Friday, May 25, 2012

My Trade Plan for today.....

There are several ways to count the price structure from w. (b) 1294. Regardless, IMO, the pattern is clearly corrective. Momentum, not shown, is diverging with price. I'm not getting tricked by the current move down. The floor is LONG and looking to attract buyers. As such, I believe that we'll see another up sequence before the pattern fails.

Let's see if I'm right.

Best of Trading

1 comment:

Elcid MarketsMay 27, 2012 at 12:41 AM
That fifth may fail, as it would usually be related to 3 by a 61.8%

The best of luck
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Friday, May 25, 2012

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