With time, and observation comes understanding. A day of Elliot Waves and cup and handles led me to believe I could time this right. And wow did I surprise myself. I have never drawn on a chart, I have never done anything other than observe and trade, I see other peoples charts (Credit to Thomas, AlanMasters and Haejin) and if I don't understand something I...
Lets see what happens with Monaco (MCO) over the next 24 hours and re-assess where we are going.
You decide.
{lease excuse the messy chart, getting used to these tools, slowly. Look at the Cup and Handles again! Now, I may be looking for these since they are at the forefront of my mind, but, the second handle has started to fill and I will be looking for a "test" entry when we/if we reach the bottom of the handle. Elliot Waves seem to be present and for those of you...
And the novice begins to show, with such a limited skill set this is what I see. Please feel free to correct me, critque the TA and help everyone out by sharing your opinion. We are waiting and watching for the next move and a clearer picture of the future.