New week--New thread 1-2- and Double top/bottom day trading.

Basicly the minor trend is sideways---Fridays high and low. Simple enough to see.

The bigger channel is seen on this chart.

Target possibilities.

Since 7-1 the market has been working out an -B- wave pattern. It should unofld in an -abc- pattern.

Wave -a- ended 7-8. now the -b- wave of the -B- wave. If flat it should not go above .382 @ 889.25.

If sharp it could go all the way back to red angling down line.

Lines: It has broken the line for this wave down. That means change of trend. Gave a -1-2- buy at the end of day--

It should unfold in an -12345- pattern.

Stay flexible so you can flow with the trades if your present perspective is wrong.

Hint:
When drawing lines off an -1-2- or -a-b- spot. One does not know at first sometimes which it is. Here are some pointers.

1, General an 45 degree angle will give one an idea. Higher it is impulsive and lower is corrective wave.

2. So if it is an impulsive wave it will end close near that line, but with a massive fairly flat consolidation prior to that holding above the line.

3.If it is corrective. You can take the line--copy and paste. When market hits it. It is over. It just keeps going away till it collapses. Using the trend line for exit in this situation leaves the trader with small returns.

Knowing this--channel any trend that has moved some distance to exit on.

Others use the last fractal as a fail safe determination to get out of the market. What ever one does---find something that is fairly solid to get out of the trade that leaves no interpretation.

Good trades to all.