I didn't trade the afternoon session since I did not feel well and could not maintain my focus on the market. However, it looks like I missed a nice trading opportunity - the A - B - C Wave Pattern.
As I stated yesterday, some of the best trading opportunities occur at key pivot points in the market. This afternoon, two of the key pivot points occurred at the previous day's low, and the 50% correction of an upward Swing Wave off of the day's low. The market started its correction wave at the previous day's low, and then formed a support level at the 50% correction point. At 1530 ET, we got a bullish $TICK divergence confirming the support at this level setting up a long position trade.
Charles
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