Any one who follows EWP and trades will tell you NEVERTRADE A WAVE 4. Wave 4's typically can have the most complex of all EWP patterns. It's just not worth it.
Today the SPX opened high and stayed high throughout the day. I do think this will take time but we should get retrace tomorrow in b of 4. They way I'm labeling this area is largely as a wave 4 flat. Obviously I'm keeping an open mind to what price tells me...but patience is required as this wave 4 will not compete tomorrow.
Best to All,
Chris
Today the SPX opened high and stayed high throughout the day. I do think this will take time but we should get retrace tomorrow in b of 4. They way I'm labeling this area is largely as a wave 4 flat. Obviously I'm keeping an open mind to what price tells me...but patience is required as this wave 4 will not compete tomorrow.
Best to All,
Chris
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.