Morning Update: Triangle Invalidated for standard ABC
Updated
In my weekend update I wrote, "As you can see our c-wave breached the .618, but only slightly. It is possible the e-wave may do the same. I mention constantly about being attentive for clues that price gives us. This poke above the .618 could be a clue that this will be a standard a-b-c...or it’s nothing and we decline right out of the gates on the first trading day of the year. However, any trade above 3883 and the purple count will prevail as primary."
With the price action in the overnights we invalidated our triangle pattern and look for price to get above the 3920 area minimum, and ideally to the 3985 -4000 area.
Price is always willing to give us clues to test if we are paying attention. Let's see what clues we get today and I'll update this evening.
Best to all,
Chris
With the price action in the overnights we invalidated our triangle pattern and look for price to get above the 3920 area minimum, and ideally to the 3985 -4000 area.
Price is always willing to give us clues to test if we are paying attention. Let's see what clues we get today and I'll update this evening.
Best to all,
Chris
Comment
Updated Micro Chart...so far so good.
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