Return of the bear in SLW?
We pretty much have completed 5 waves up from my long entry at ~$20.50.
My preferred count shows the recent trend up as an ABC, which means we should start going back down again.
Of course, rather than an ABC, this could be an impulse move, leaving us with another potential move up.
Regardless, short term we probably are going down. There's a bearish divergence in the 15 min, 30 min, 45 min, hourly...
Long position closed. Might even open shorts on this one.
My preferred count shows the recent trend up as an ABC, which means we should start going back down again.
Of course, rather than an ABC, this could be an impulse move, leaving us with another potential move up.
Regardless, short term we probably are going down. There's a bearish divergence in the 15 min, 30 min, 45 min, hourly...
Long position closed. Might even open shorts on this one.
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