Originally Posted by dumbass
hi strat, i still think there needs to be a final wave down to finish this pattern.
i hold 8 short positions and have rode the big move down , due to market volatilty stops and targets are a little redundant.
no real divergence yet on dailies so far.
fingers crossed but will look to unwind into this down wave.
final down wave now in progress , this will finish the first wave down of this bear market and should therefore provide a good long entry.
i still hold my eight short positions which i will sell this week , around 1230 spx points in total for the trade and each short is a 100 unit contract which is currently a profit of about $123,000 US dollars.
When the market is so volatile the waves are very clean and balanced, my favoured point will be around 1080 to 1090 and will be a double bottom pattern or may shoot lower to provide divergence on longer frame indicators.
in summary will look to reverse shorts and go long . good luck everyone.
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