Mika's Commentaries
Aug
19
2010
Hmmmm,
by Mika
Overall Rating:
A little down by the end...What actually happened during the last 2 days was pretty easy by EW point of view if one is looking only one degree for it. We ended one 3.142 /3.618 impulse which was clear as damn with 1100 or just few points below to short.
But what occured and ended with larger degree was open question and still is, there was in fact chance for much bigger drop as occured. This impulse took most simple ABC correction which on the next day was finished with ~1080 to reverse again. It looks alike larger A was ended with 1080 and next B took up to close of 1100 area again.
This brings ugly scenario, not alone that B this high B took likely many weak hands shorts away to blow over 86.2% and reach 100%. It will open C down as next and again question is next larger degree, is there something from higher TF to come down also ? Because if there is, then this C is not enough.
Apollo was great case, but I did exit for it far too early which is my most typical error I do (on the other hand for the same reason I will never hurt myself with wrong side positions), it ran even another +2,5% with this B after my exit to land later and end for +1,5% as day close.
I think some negative should be rolling in as tomorrow but I am pretty flat with market views now, more like range bounding.
Will watch that APOL closely also, daily degree impulse looks too "ready" issue for me.
But what occured and ended with larger degree was open question and still is, there was in fact chance for much bigger drop as occured. This impulse took most simple ABC correction which on the next day was finished with ~1080 to reverse again. It looks alike larger A was ended with 1080 and next B took up to close of 1100 area again.
This brings ugly scenario, not alone that B this high B took likely many weak hands shorts away to blow over 86.2% and reach 100%. It will open C down as next and again question is next larger degree, is there something from higher TF to come down also ? Because if there is, then this C is not enough.
Apollo was great case, but I did exit for it far too early which is my most typical error I do (on the other hand for the same reason I will never hurt myself with wrong side positions), it ran even another +2,5% with this B after my exit to land later and end for +1,5% as day close.
I think some negative should be rolling in as tomorrow but I am pretty flat with market views now, more like range bounding.
Will watch that APOL closely also, daily degree impulse looks too "ready" issue for me.
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