Quote:
Originally Posted by Million$Man
Price is on the TL taken from 14th May.....CMELLON, you see price breaking the TL?
M$M
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If only based on EW, price should find support at around 9455. However, based on Delta count, the direction is still down until August 15. Therefore, further price weakness is possible as long as we are still before Aug 15. In Delta, time is more important than price target. Once the time is in, market has to turn, that's the concept of Delta.
I will just go a little long this time since Delta direction is still down. But if Aug 15 passes next week, I'll start looking to build long more. That is if 9455 is reached today. If not, I'll keep my short.