Replies to post #136168 on Simple's Green Room

[pennies2007]

Yep, here's the numbering for a brand new 5-wave sequence that's already begun.

Wave 2 pullback is wrapping up but, as I said, normally this leads to slightly new lows.

The 61.8 fib is sitting at 162.19. I'm thinking that somewhere around there we find the absolute low to go long...maybe a bit lower.

Then again, the lows may be in. The price action elliott wave count shows 5 waves up and now 3 waves back.

Hmmmm....

15 Minute Chart...

[pennies2007]

Screw it...I'm long GJ at 162.70. The price action count says either Wave 3 up or a big corrective Wave C is about to begin.