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World Stock Markets Trading Discussion - Aimless abstraction


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Failure to launch!  Stopped out even at Dow 24,780.  Appears wave d extended itself and dropped the lower trendline of the triangle so it is not as pretty but it still is intact for a future potential pattern trade.  I didn't like that the original e-wave was so short in time and price.  E-waves typically are long, choppy and often consolidate pricewise in the half of the triangle they are going to eventually break through.  Most of the other indices were not positioned in patterns with important support to break through so I am not surprised by this outcome. It was a low risk short set up.  I think this market has a more work to do before any big move. I see corrective patterns still unfolding so there is good reason to believe we are in topping process that will eventually break down.  Good Luck Out there.  Madness you continue to amaze me with your trading!  Now out to go bicycling and drone flying!!

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Failure to launch!  Stopped out even at Dow 24,780.  Appears wave d extended itself and dropped the lower trendline of the triangle so it is not as pretty but it still is intact for a future potential pattern trade.  I didn't like that the original e-wave was so short in time and price.  E-waves typically are long, choppy and often consolidate pricewise in the half of the triangle they are going to eventually break through.  Most of the other indices were not positioned in patterns with important support to break through so I am not surprised by this outcome. It was a low risk short set up.  I think this market has a more work to do before any big move. I see corrective patterns still unfolding so there is good reason to believe we are in topping process that will eventually break down.  Good Luck Out there.  Madness you continue to amaze me with your trading!  Now out to go bicycling and drone flying!!

 

Thanks for the update.

Enjoy the sun?  It's another nor'easter here in the Northeast.

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