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Strategies & Market Trends : Classic TA Workplace
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To: AllansAlias who wrote (26705)1/4/2002 10:56:09 AM
From: AllansAlias  Read Replies (1) of 209892
 
I get very excited when a trend is bending like we are seeing this morning. For scalping, it's when I go to inside counting -- basically, I forget everything that came before the top and just size up the nature of the corrective behaviour.

Another minor low and this pullback will have the clear look of 5 waves in the wiggles. This puts us in a wiggle jello 4 right here. That would mean it's VERY likely only the first leg of this corrective down and would offer a very nice shorting op'ty when we get the 'b' bounce. First, we'd need for the wee bounce we are in now to respect the low set by the wiggle 1, then we'd need another minor low to cement the 5 count.
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