It remains an extremely difficult up count. Here is the chart of the ES 8-hr futures. Price would still be within (c) = (a).
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| ES Futures - 8 Hr - Zigzag? |
The alternation would be diagonal (a), impulse (c). The (c) wave would have a very long-in-time wave iv to alternate with the short, sharp wave ii.
Again, nothing says the up wave is over until/unless the lower parallel trend line is both broken and then back-tested with a new low after a failure.
Have a good start to your evening.
TraderJoe
Just a reminder, the Payroll Report is scheduled for the bottom of the hour. TJ.
ReplyDeleteNFP' s at 263k vs 200k consensus. Futures move lower. Look for overlaps.
DeleteTJ
I would think if we get a completed impulse down it will end up on the lower channel.
DeleteAs far as I can tell, gold had a failure wave.
ReplyDeletehttps://imgur.com/Egh0kaD
Maybe corrective 3 waves?
DeleteSPY 5-min: the mess-Masters are at it again. See the chart notes.
ReplyDeletehttps://www.tradingview.com/x/krYrfPJH/
TJ
Thanks TJ.
ReplyDeleteWhy these b waves are so tricky?
Welcome. But I answered that question in this post.
Deletehttps://studyofcycles.blogspot.com/2022/10/lordy-save-wave-counters.html
A "b" wave can be "any three" including a triangle. It is virtually impossible to know how it will form until it does.
TJ
Nice look, thanks TJ.
ReplyDeleteThis is not pretty but its there.
ReplyDeletehttps://imgur.com/Al9LdF9
A new post is started for the next day.
ReplyDeleteTJ