Ewj: elliott wave

Status:
Long since 13537.9503 1508.76 2688.7102
Short position overnight.
Trading short positions to prove that it is very difficult to sell a long position and buy back at a lower price in an uptrend Market.

Scenario 1.
Market opens up and keeps on going up another 200,20,40 points for today, tomorrow, the day after tomorrow and reaches 15000 on Friday. Trapped Bears covering shorts like our EWMTer.
Strategy 1.
Cover short position at Monday high. And ride on the long position.

Scenario 2.
The New All Time High Close on Monday is a Bull Trap and Market goes down below Monday low.
Strategy 2.
Keep the short position. Set target between 200 - 400, 20 - 40, 40 - 80 points correction. Set stop at Monday high.
 
Five wave down, a good place to covert short position, at the next higher high. Re-enter short position near down wave 4 when there is a lower low.
 
Short position covered, look for re-entry. Set target at measured move. Set stop at the last high before re-short. If Market go higher than Monday high then quit.
 
Wave c has not ended yet, may end at previous wave 4. Move stop to previous wave 4 and quit if stop out.
If there is a lower low than the last today low, hold short position overnight.
 
Yesterday Dow, S&P and NASDAQ produced different charts, a divergence indicator for the Bears. Only the Dow were followed.
Stop out at close because there was no lower low.

Scenario 1.
Minuette Impulse Wave :1 with definite Subminuette Waves i,ii,iii,iv,v had ended. Minuette Wave :2 showed Subminuette Waves á, â and ã. Subminuette wave ã might have ended yesterday or have a few more Microwave to go. Minuette Wave :3 may fall 100, 10, 20 points.
Strategy 1.
Sell at open if the Market opens lower as futures indicate, then cover at measured move. Set stop at the last high yesterday.

Scenario 2.
Correction had ended yesterday. Five up wave will be follow by another 200, 20, 40 points up move.
Strategy 2.
Keep long position intact.
 
You must log in or register to reply here.
Back
Top