Ultimately, the last idea was early and invalidated, accordingly. I do think the count is nowripe for a Minor 3 to develop. Price is still 1s and 2s, but over the next 4-6 days, I will be observing short ES and NQ entries and looking to strike. If trading VIX, long entries could be nice, here, because we are in a range and maybe vega available. Plenty of confusion.
In that regard, I want to point out that what looks like Minute ((ii)) in ES actually went lower in VIX, so if this is correct, the way that Vix is calculated may necessarily "force" it break EWT rules. Just an idea that I hear more discussion about. I am no mathematician, but find the query interesting.
Will update as the track unfolds.
Best,
Cuz
In that regard, I want to point out that what looks like Minute ((ii)) in ES actually went lower in VIX, so if this is correct, the way that Vix is calculated may necessarily "force" it break EWT rules. Just an idea that I hear more discussion about. I am no mathematician, but find the query interesting.
Will update as the track unfolds.
Best,
Cuz
Note
All part of a Minor 3...I think it is possible that we see a VIX pullback, here, although it looks greatly. In ES, we see obvious signs of weakness, overlap where there should be impulse, truncation where we expect new highs, BUT when we expect a wave ((ii)) or (ii), we typically get it. Other counts have a TSLA retrace for (iv) (I think (ii)), and Apple looks like it wants 178, IMO. It looks nicely, but could be, should be, would be. We'll see.BOTTOM LINE: I have a full count on a Minute ((i)). Retrace in ES should be to 4332.50-4353.75, standard. Could take...by ES 4 days, NQ 5 days, and DXY two weeks.
Note
Looking for Minute ((ii)) to extend down to approximately 17.52Note
16.71...if this is the (b) wave.Note
Targeting 15.82-17.75: tighter range 16.36-17.51. Tomorrow morning, pre open. Dollar should come off, any minute.Note
Always early...magnitude never ceases to shock me, when it actually plays out to levels, but over 3-4 times as long. Timing is almost everything. I think ES is headed up for a week or so, while we work out this Minuette (c)Note
Targets hit...15.82-17.75. Now, what? My strategy is to keep selling off longs, above 4262 and become larger net short until we get down to the 4160 region. If this looks like a clear ABC pattern, which it does, here, if this is the start, then I will hedge long, there. If we get impulsive, and breach the last low, at 4122.25, then I will close all shorts to await a retrace in Minuette (ii).
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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.