For some reason today I took out the chart on XLF and saw my wave projection which I outlined after the materialization of wave 3 and was very surprised. We have a very nice red 9 setup to lock in wave 4. Price is now heading to finish wave 5 at around $24.
I was about to re adjust the wave 4 to fit in the realistic price action but somehow felt that it is better to leave the wave projection as is.
I look forward to seeing wave 5 being achieved. The trade idea is invalidated when price breaks above wave 4.
For those Elliott Wave Theory users please note that I am not utilizing the original Elliott Wave Theory rules. I follow a mechanized version of Elliott Wave created by Mr. Tom Demark which abides different ruleset.
Anyways, stay safe out there and good luck trading.
I was about to re adjust the wave 4 to fit in the realistic price action but somehow felt that it is better to leave the wave projection as is.
I look forward to seeing wave 5 being achieved. The trade idea is invalidated when price breaks above wave 4.
For those Elliott Wave Theory users please note that I am not utilizing the original Elliott Wave Theory rules. I follow a mechanized version of Elliott Wave created by Mr. Tom Demark which abides different ruleset.
Anyways, stay safe out there and good luck trading.
Kidze
Disclaimer
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.
Kidze
Disclaimer
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.