STM - Sell off okay - Trust Support, Candles & Count Luke

The dark force wants you to sell. On the hourly chart we see a test of support formed by a rising window gap around 14. Short term Elliot count shows this to be wave iV down. Elliot says wave 4 never goes into wave 1 territory, and candle stick resistance of rising window very strong. Hang in there, as I said on my daily post...STM still poised for a move up. If it breaks 14.00, that's alarming, if it goes below 13.87 well, then we're wrong and may want to lighten up. Finally Connors RSI very low - look what price does each time. I use Connors for signals on daily only, but it does give confirmation of your bias on 1h charts too. Just since I typed this price has moved back up and a hammer is forming

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Zoom in to the hourly chart, you can see the preferred count shows We have just completed a 5 wave move up. It's gonna pull back before starting back up again for a new impulse wave. I took profits and will go somewhere else for awhile as I don't have a lot of trading capital. If I'm wrong, and wave 5 extends, okay. I can get back in. here's the hourly zoom: