Disliked{quote} Hi skyhok, I have not learned the Elliott Waves, and I can see from your chart you have a good understanding of it. I was wondering why can't one go short from 175.6 till the end of the downside as per wave counting. it is a good 300+ pips. Sorry if the question is noob. usasa. Ps: I have recently downloaded the Glenn Neely and started reading it.Ignored
It's a personal chose to stay away from trading corrections until it is confirmed complete, simply because :
1. end of corrections = beginning of the next trending waves.
2. PA of corrections can be unpredictable and counter-trending.
Even now price movement do have alternate views - that it may do a minor retracement 61.82% and advance (in red) OR complete a final push down(in orange). Do prepare for it .
The best to your trades.
Elliott Wave for optimum entry, exit and risk management of trades