We got a clean break of the support trend. Next test is to get to new lows if the bear arguement is true. 1 and 3 waves down at the end are looking very impulsive which is a good thing. Time will tell
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This blog is in two parts, one my thoughts on the market and two, develop a trade strategy that I’m calling “Divergence Trade of 3’s”. This is my attempt to bring everything I’ve learned into a tradable system. Taking the key importance of things like Elliot Wave Principle, Fib retracements, Indicators (CCI, MACD, STO, ADX, RSI), Trends or Channels, Trade zones, Divergence and most important the relationships of different time frames I am going to attempt to tie them together.
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