Path one in black, we finish at Y=W (or the .618 below around 1170-1180) before moving to new highs. In this scenario we should first get a bounce to 1260-1280 before dropping to Y=W. If this bounce keeps going without heading back down towards y=w then we are likely on the second path in blue which is a triangle pattern. Entering long at Y=W is sensible being mindful of another downswing at D (trailing stop?). If you're holding a long (like i am) you could consider reducing your long exposure at B perhaps with a trailing stop, adding back at Y=W or holding to D. I would consider shorting at D somewhat risky. I like the triangle idea as it may just stretch the volatility out towards inaguration day but thats just my guess.
Kommentera:
not much change, just a little tune up in expectations
Kommentera:
Almost at the bottom. Yes its an enormous buying opportunity.