We've got enough price history since the orthodox top to adjust stops. We have had a double-zigzag so far since then and a trendline will project where I would expect a triple zig-zag to stop. Since a triple is the most we can go, this can be used for stop orders.
So 1150.2 is the earliest I can get out.
I'm really hoping I1 kicks in with a vengeance next week Steve. A weak close, the double top held.
ReplyDeleteI only have FTSE & Dax positions, neither of those made new highs in futures.
We will see. At the April top, did the market defy I1 for many weeks?
Have a good weekend.