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Given the 3 staired moves on many index markets, especially Naz and Dax,
I am wondering if we are not in some sort of triangle, with jan 5 low
leg A, jan 18 high leg B in 3 waves, jan 25 low leg C in 3 waves, now D
up and still to come C down (typically on news), with a potential short
break of trend line of the last lows. Thereafter we would then rally to
new highs.
It is to be noted though such triangles are usually found at wave 4
positions prior to trend terminations, so the new highs would be an exit
opportunity into general euphoria over the resumption of the bull.
Thereafter there could be several months of choppy, sideways to down
move to digest all of the rise since last october.
That's not what will happen according to me, it is just the road map I
am currently following. If things turn out differently I'll just change
from map 103 to get map 104... I use that map because wave 4 triangles
are notorious for mindless volatility, sharp mood swings and trading
losses. Hence my strategy in those times is to do nothing and wait for
the conclusion of the supposed pattern, strategy which has been the most
useful for me in the past.
Anyone other strategies?
Gwenn
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