For intellectual pursuit, let's look at the Elliot Wave and Wolfe Wave hybrid set-up for an intraday short on SPY. We had a nice upward motive followed by the a-e "corrective" phase on Elliot wave. Bulls would say this is a bull flag, but this does show a moment of indecision in the trading, it could go either way.
If someone wanted to enter short, the down sloping white lines would be the targets, based on Wolfe Waves. But is this tradable? Odds are that this will end in misery for shorts, but heck, maybe the 37th time is the charm.
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UPDATE 4-15 at 3:53 pm
Here's the result. Yes, shorts scalped a bit, but was it worth the trade? What's the target?
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Did I hear short. I have never believed in shorting stocks because your risk on the upside is unlimted
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