testing an elliot wave pattern for a short entry. the light red box is the time target of 50-100% of wave a for completion of wave b. price is ote short in 50-78% retracement in price.
i have the optimal time zone just in the solid red box but it can be larger red box as well. i wont begin shorting until we've entered the solid red box in time and price. once inside the red box i'll use regular oscillators to determine overbought conditions.
not really worth shorting immediately as the 1h rsi seems to be building a hidden bull div that may need to play out before it can dump.
wave c target is to be determined after wave B top is confirmed.
(if this breaks above or closes a candle above the red box, it's invalid. if we dont top out and mini doom by 3/18/15, it's also invalid)
i have the optimal time zone just in the solid red box but it can be larger red box as well. i wont begin shorting until we've entered the solid red box in time and price. once inside the red box i'll use regular oscillators to determine overbought conditions.
not really worth shorting immediately as the 1h rsi seems to be building a hidden bull div that may need to play out before it can dump.
wave c target is to be determined after wave B top is confirmed.
(if this breaks above or closes a candle above the red box, it's invalid. if we dont top out and mini doom by 3/18/15, it's also invalid)