The S34 opening sell signal is likely to show up tomorrow at the open.
Look for a daily open above 436.56 to get a confirmation.
The intraday entry will not be easy to spot with high volatility expected.
Supply Line (level8) will also generate a breakout signal that will have to be invalidated on Wednesday’s close to confirming the sell signal.
Hence it is probably better to wait for Wednesday’s close to increase the odds of success.
No guarantee this S34 exhaustion point will reverse the trend.
Wave B could also shift to the right tomorrow.
Stay cautious
Cheers!
MATHR3E
Look for a daily open above 436.56 to get a confirmation.
The intraday entry will not be easy to spot with high volatility expected.
Supply Line (level8) will also generate a breakout signal that will have to be invalidated on Wednesday’s close to confirming the sell signal.
Hence it is probably better to wait for Wednesday’s close to increase the odds of success.
No guarantee this S34 exhaustion point will reverse the trend.
Wave B could also shift to the right tomorrow.
Stay cautious
Cheers!
MATHR3E
Note
S34 triggered so farNote
Probably another leg up missing (wave 5 on lower timeframe)Looking closely at a potential wave 4 bottom here.
Note
Shorted test @445Note
SL near 448.8Note
Supply Line (level 8) breakout in progress.Need to confirm tomorrow for a potential bullish continuation.
I am still playing a fake breakout with an invalidation signal tomorrow
if I don't get a confirmation tomorrow, I won't insist.
Trade active
trade active since 445 level.missed first trade opportunity near 450
Trade closed: stop reached
SL Triggered this morning with a very small lossWill reevaluate the situation later.
Bearish scenario is not cancelled until today's close
Note
This missed trade actually helped me to improve the Elliott waves’ indicator. I am now considering a possible truncated wave C. By adding this feature as a new parameter, it fits a lower wave C target (61.8%) and underlines a new bullish trajectory with new price targets.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.