3/5 – 3:05 p.m. New York time
One trade today, exiting my bear position on FXE.
3/5 – 12:05 p.m. New York time
I have exited FXE and shall update the analysis with results shortly.
3/5 – 11:35 a.m. New York time
FXE remains ambiguous in is direction, and I shall exit today, probably for a loss.
The Fisher Transform on GLD has given an uptrend signal on the daily chart. My Elliott wave count suggests that the trend at the level I trade remains down. I place GLD as in a 1st wave down at the Minuette degree within a C wave down at larger Minor degree.
A Minor wave can take months to work through, so as long as this count holds, I’m confident that my bear position is following the trend correctly. So I won’t act immediately on GLD.
My IWM bear position remains downtrending both on the Fisher Transform metric and the Elliott wave count.
By Tim Bovee, Portland, Oregon, March 5, 2018
Tim Bovee, Private Trader tracks the analysis and trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment.
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