FORD MTR CO DELLong
Looking Higher Through 14.85 Against 9.63
Updated
Ford should begin working higher through 14.85 against the 9.63 low following the likely completion of a flat pattern in wave (b) of {c}.
Wave c of (b) of {c} is either complete or soon to be complete and wave (c) of {c} should begin developing in an impulsive manner (five waves) higher through at least 14.85. Any downside should remain corrective against 9.63.
Wave c of (b) of {c} is either complete or soon to be complete and wave (c) of {c} should begin developing in an impulsive manner (five waves) higher through at least 14.85. Any downside should remain corrective against 9.63.
Trade closed manually
Unfortunately, the break of 9.63 invalidates the diagonal impulse and flat correction in waves (a) and (b) of {y}. The break of the significant low is interesting, it leaves no realistic alternate wave count that suitably fits the current wave structure. While it can be frustrating to have a forecast fail, in my experience the violation of a major level or invalidation of a high probability pattern almost always resolves into a beautiful Elliott Wave pattern and more opportunities, whether you can identify them in real time or not.
Ultimately, the trend is lower for Ford as it is developing correctively at a large degree in wave B but the break of the 9.63 low leaves us with an unidentifiable count, and so it goes on the backburner as we move on to more actionable wave counts. If another high probability juncture develops we can return to it.
Jayce, CEWA
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