mljones

mljones Updated 

Crude might be on wave 4 ready to dump down to the fib extension that matches with a prior naked point of control region. However, it's not clear that wave 5 has started yet. It really could do anything, however it if does dump down then I will not be looking for shorts below the target region until after a correction up.

mljones

CL is likely to return to its upward trend soon. It completed a 5 wave down which ended in the 61% retrace region from the prior 5 wave up. This makes it likely it will continue its longer term trend up from here. It could also be on the C leg of an ABC correction. The C leg will also be bullish. Basic trading idea is to buy in lower rectangle and tighten...

mljones

Because bear scenario is unclear, also looking at what a bull scenario will look like. The recent 5 wave up provides a 61% area for a bounce back up, which it may have hit with an ABC correction. This would mean it's working on the 1 wave or maybe the 1 and 2. In either case it's likely to be choppy until the 3rd wave shows up. If a big move up appears, I will...

mljones

Just completed 5 wave, now working on probably finishing an ABC pattern. Looking for short term reversal up (which I would not trade), then return to the downtrend (which I might trade)

mljones

ES hit the fib retracement target region for a 5 wave and ABCD Elliott wave pattern. It is quite likely to continue back up before long. It recently had a series of low range days so is likely to have a range expansion which means a large upward trend day is in the cards. After trending upward, it is also likely to try to correct back down to the red median...

mljones

Will be very careful to take profits quickly for any bearish trades I take because it's probably close to support. Much more interested in moves pointed up.

mljones

Looking like BTC completed a 5 wave, now should not be surprised to find an ABC correction to the 50%ish region in the rectangle area. I will probably not short BTC here because it's possible the 5 count starts at the end of the consolidation rather than at the start where I have it now. If that's the case then there could be one more wave up. In either case, I...

mljones

Could end up being good short. Personal plan is to wait for retrace and find bullish entry after large correction. Not buying into recent Tron run up since BTC has gone flat in last few days