CFZ E-Wiggle Workspace Message Board

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Strategies & Market Trends : CFZ E-Wiggle Workspace

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Winfastorlose

To: Winfastorlose who wrote (35327)	5/24/2019 8:14:47 AM
From: skinowski	1 Recommendation Read Replies (1) of 41583

Simple (hourly) view at this time - an impulse down, followed by a “three” up and “three” down... so far. This may form into a short term bearish Flat correction. Or, perhaps, it may evolve into one of those ever elusive wave B Triangles? That latest possibility would be pretty bearish short term, but would represent a good indication that the entire recent decline is corrective in nature. Imho, a B Triangle would be one of those uncommon settings where it may be justifiable to try some bottom fishing... after the next leg down will appear to be done. I’d probably sell put spreads. If... instead, today’s rally fails and heads into new lows... then, yesterday may have been wave 1 of 3 of the next leg down ( to match the decline from ATH to 2801).

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