yes,its target shooting with stink bids these days. Ive been juggling about 5 or 6 different stink bids. missed one (4.33) by 3 cents today.
Ive got them at 4.31/4.28/4.26 area/4.13 area I might sell the one that got hit yesterday at 4.57,if I buy something today at 4.37. its a rotten game. but also money management now. to sell the 4.57 so I can buy more at 4.27 later on. targets could hold anywhere in this pullback, but could also reach the targets at 4.12,and 4 dollars.
The support zone at 4.65 has failed now. 4.55 has failed now. those become resistance. I'm just buying and selling the steps along the way down.
The "rally" that peaked at 5.14, failed to hold the 4.70-4.55-4.45 support zone as a "wave 4" its starting to be less of a 'wave 4' now, the lower it goes, at some point, the "wave 4 zone" that has a bottom around 4.20...its a mixed wave structure now, still can be called a "wave 4" waiting for the wave 5 rally to target the (5.30-5.70 area),to complete a 5 wave rally.
but if these next steps down,from 4.30-4.20 fail to hold and we see the targets at 4.14-4.00-3.90 get hit, then the 'wave 4' designation is gone. and what has to be renamed as a "Finished rally at 5.14", followed by the ongoing downwave ,to be called a 'wave 2' pullback,with a target 4.14...nothing wrong with that, its just a smaller rally, finished at 5.14, and the wave 2 pullback to retest 4.14/4.00/3.90 area is the target zone to buy. and it renders all these buys around 4.60-4.40,as mistakes,in my view, bought too soon for a different wave pattern, bought as wave 4 dips, rendered incorrect if it falls more into the 'wave 2' pattern.
If it plays out like this,to me it means the powers have stifled the rally at 5.14,a weak rally for the September "news cycle" so far. will it be a better "news cycle" in the coming weeks?
