Bad day, I am confused; rather than clarify the pattern has become more difficult to decode.
The most plausible interpretation is that it is a complex (see "substitution of pattern" by Robert Balan) where w is a complex wave, x wave a triangle , and y wave an impulse , but the wave 4 of y wave seems too big, in terms of time, compared to the wave 2 , so it doesn't seem respected the guideline of the "right look".
If the market doesn't stop in the next support area (1428-1426) or in the last (1416-1413), corrective wave began on Sept. 14 becomes a wave of minor degree.
In situations like this, as my trading approach is not a reversal approach, I'm out and expect to see more clearly.
In two days I closed all my long positions (except GWW) because the stops are triggered, so my risk, now, is very low...but if a new uptrend starts, I have to rebuild all my stock portfolio!
Have a great trading day...with care!
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