As promised here is the ARKK daily so we can see the count better. Right now we are coiling for a wave 2 and I think we are likely to see one more flush before a massive rally. Wave 3 PT is 166, so don't want to miss this move. I think it will likely be a leader during the next leg up ( which should begin sometime next couple weeks when markets bottom).
My wave count has us going down one more time to finish off our wave Y, which could be between 114-107.
How to trade this: For me, I dont want to miss the move up, but I also dont want to jump the gun and sit in on a flush going down to 110 range (if it goes that low). So, with that being said I am looking at this two ways. 1) a trendline break to the upside I will go long on the backtest. OR if we end up in my red circle. So set 2 alerts and then let the market come to you
My wave count has us going down one more time to finish off our wave Y, which could be between 114-107.
How to trade this: For me, I dont want to miss the move up, but I also dont want to jump the gun and sit in on a flush going down to 110 range (if it goes that low). So, with that being said I am looking at this two ways. 1) a trendline break to the upside I will go long on the backtest. OR if we end up in my red circle. So set 2 alerts and then let the market come to you