I mentioned to look for the hook. That is for those that need simple. Not belittling. We all have to start with baby steps. Every trader is a newbie, and acting like your not is only pride hindering the process of learning. Humility is an virture that will keep us students all our life. And PRIDE tells us we are there and have no more to learn. Huge mistake.

This chart I made zoomed in and exclusive to the break coming down. To show the -1-2-1-2- process and how it will unfold. The market is doing -3-4-3-4's and fives. An impulsive wave will not cross the fourth wave unless the market trend changes, period. That is simple truth and here is how that unfolds.

From the last -iv- wave we take our retracement tool and measure down. That 38-50% will give us the blue wave -4-(done on chart). Then south we go to 3.382 and then retrace an two wave.

The two wave will form 90% of the time below that fourth wave in impulsive wave patterns. Impulsive waves do not like to violate the fourth wave, period without changing trend. How long that trend lasts depends what trend is next in Elliott labels. So as a beginner to hide behind an fourth wave for an stop is always wise. Actually it is wise for old timers too.

Sillywaves
charleydan