What size is precise?
Let’s gather around the fire & gather all we know about Wave 2s.
Wave 1 kind of declared itself to be just that – see the last Blog entry about Waterfalls.
- A Wave 2 would come back through the closer end of the E-67 Band
- A Wave 2 would likely fake out the second Doji made on the way here by 4-9 pips
- A Wave 2 correction may take the 9-sample Hourly Slow Stochastic Oversold / Overbought twice before it ends
When price was up here, could you have made an educated guess as to where Wave 2 was likely headed?
Doji #2 faked out means going 4-9 pips further. So you can already say that the support zone is 1.1268-1.1263. All you need to do is let go of complicated feelings, know that there’s a price to pay, then reach out & touch faith for your own personal Wave 2.
So what is exactly happening with these dojis?
During those hours there was an even exchange. Someone was picking up all orders at market with enough care for not moving price too much. Perhaps they already unloaded some / half of their holdings on the last rally, perhaps not. When price returns to their entry, they step up again to round up the holdings / improve a little bit on the entry price with cost averaging. Or they are already out completely, but would be interested in going in again at the same level. Either way, that’s the typical offset.
How can you say Depeche Mode with 3 videos without saying Depeche Mode anywhere?
Apparently there was Kenny Josh version as well.
Don’t be so
The original Macdulio said about me once that I say 3 words with 2. That sure seems to be my M.O. (He died st 47. I’m 48 now.)
I may not have figured out how to make money in this life, but I certainly had some relevant ideas about large percentages.
The Momentum divergence by now goes without saying.