Daily Price Movement / General Discussion, page-25553

My reading of the chart is quite clearly five waves down are unfolding as it's channeling.

As you can see those five waves will complete soon and their will be a counter trend rally to the upside.

As always with Elliot Wave there are two counts the primary count and secondary count where you very quickly know if your primary count is wrong and you can reverse your position.


The trade is to be long on the completion of the fifth wave with a stop below the swing low.

Obviously we are going to get a strong reaction on results so I would be nervous holding long ahead of results if we have already completed the five wave move and had the counter trend rally as the next move could be 3 of 3 which is often characterised by several large gaps. as the downside move could be as much as $2-3.

Equally the upside move could be very strong if wave 5 has not completed by Tuesday night.

i will be flat ahead of results as a lot of scope for good gains in either direction.