![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEitXqASEZfR3WfIGoytPiMMWhTkNYLaoxIgZ_cuXLBsFss2XSQjvJNUCrSTG0UMokQM4Xg5ZxBSBqWtTt3UelEbpHhQA7a1IkqOgV1k5u_6TrjSKd9mzs8aWc67S1WOOD-WCCOq6xfxCLEI/s320/count0215.png)
The market started the correction today as expected. However, the trend average has not been tested and there is a Descending Triangle in place. Normally, I would label a Descending Triangle under the trendline as bearish. However, since this is taking place above the trend, the market might just be correcting enough to launch for another 5 waves to new highs again. So tomorrow we should get a better idea of what the market wants to do. I raised my stops on my shorts taken yesterday to break even just in case the we are on our way to 1340 and will cover at a profit if there is a bullish break out of the triangle during trading hours.
No comments:
Post a Comment