Replies to post #136439 on Simple's Green Room

[pennies2007]

I could still be off on that count I put up...the original might be right after all. Hard to say at this point for sure. The higher time frames on NU are pretty choppy and hard to get an accurate count on.

[pennies2007]

Here's one correlation that may help on NU, Heavy. NJ still likely has some more downside coming, which actually makes sense if GJ is still headed for a new daily low.

I normally don't start looking for bottoms until at least Wave 2 is complete on a new wave count channel. Even then, it may not actually bottom until Wave 4.

So if NJ is gonna drop, NU is likely to drop with it.

[pennies2007]

Finally figured out the daily chart on NU, Heavy. It shows that Wave 4 has peaked just like the AU daily chart, so more downside is likely as well.

FE targets listed below. NU is cheap to trade so I may have to get in on this one as well. The NU 4 hour chart has created what looks like a Wave 4 peak so a Wave 5 down there is expected as well. I've got that one listed below.

But, the 4 hour indicates that there's likely to be a move back up after this next drop before the larger daily chart is gonna kick in hard to the downside.

Basically, I'm looking for NU to drop down to that 0.6470 area on this next move down. Then I'd look for a near term move back up in another 5 wave sequence...a daily 4 wave "bobble" back to near the highs of the wave 4 TDI peak. That next move back up later on is where we want to short and hold for the longer term drop. I expect AU to basically do that same.

Notice how close the price level is on the 4 hour FE 100 and the FE 61.8 on the daily. So the FE 100 level on the 4 hour is likely to produce a nice bounce.

Daily first and then 4 hour...