Not sure where to put this to keep the thread going. Bottom pickers. Tough job for those that attempt to do.
Shifu--here is one of your favorite patterns. What I call a double bottom/top. Where the market makes just a slight low from previous established point. Buy with very low risk or sell when the pattern is the other way.
Let me ramble on with some other details here. Let me make noise in the market that you dismiss.
Picking bottoms and tops can be tough at times. Hogs are probably the worst that I have dealt with through the ages. Maybe because my lively hood depends on how well I do here.
This is a weekly chart and the under markets or the smaller time frame markets show strength. More then this chart presently shows. I like the count as I see it there also.
The a=c or a=1.618-c. The latter is here on the chart.
Also using the retrace tool. One can find extended waves. That is right here also.
If one believes in the theory of wave three is the farthest point on market turns, because wave five is most often a failure. Then finding end of wave three would determine that.
Another tell tale sign in many markets is the double bottom that are formed in ending waves. That happened at 57.55.
I show the label for wave count as I see it.
In trending markets. There is one more thing I look at. That is each drops retrace. When they get stronger and stronger it is an indication of end near. And the analyst can estimate from each getting stronger. How strong the next will be and breaking the camels back--per se.
This correction should break last months high that has not been broken since the fourth wave ended on 8-29.
The gap is filled in this area also.
So I figure the bottom is most likely in or very close. Take my exit.
