I mentioned something in another post that might bear repeating here - it's a classic example of the pitfalls in technical analysis.
I've found that when you're analyzing trend the longer time frames are your friend. (and btw, oscillators like the RSI [and wave counts] have been Armageddon for the past ten years, too) How many false exhaustion Elliot Waves have there been the past ten years ? How many false overbought oscillators ?
I here everybody talk about the "top" - but nobody talk about the much bigger technical story of the past decade; the trendline bottom that has been in place for the past ten years.
I've found that when you're analyzing trend the longer time frames are your friend. (and btw, oscillators like the RSI [and wave counts] have been Armageddon for the past ten years, too) How many false exhaustion Elliot Waves have there been the past ten years ? How many false overbought oscillators ?
I here everybody talk about the "top" - but nobody talk about the much bigger technical story of the past decade; the trendline bottom that has been in place for the past ten years.