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There's always a risk of that especially when choppy patterns are in play... I'm always aware that I too have the bad "count to fast" habit from time to time...... Anyway at the risk of doing it again :eek: :) )) 5min ES finished ED c wave into that lesser 1:1 around 847 area...

Some good posts this morning :) That 15min ES Chart again now its getting close to that larger 1:1 @ 842.5

A step back to look at the weekly SPX time frame... If you use the line chart 5=1 comes in at 842 area...

Yep no overbalance in degree so one more leg down as ed points out.. :)

5min ES could very well have finished .... above that +12.50 Alt certainly changes things.. If it carn't then its still in the same degree of a time wasting wave iv... Bull option if it gets above its last ALt...

We could count 5 waves down now into that ratio area.. There's a whole host of ratios between 858 & 851 so it could get a strong bounce of these levels... If it corrects more than +12.5 then things are changing...

Looking better :) 120min update

May be a little more than once or twice :D

5min ES Pattern reminds me a little of fig 4-15* in Prechter 20th anniversay edition... * Fig 4-14 in the orginal...

I'd like a 5th to show itself into that 1;1 area ....:) A closer look at the 120min Globex...

http://www.elitetrader.com/vb/attachment.php?s=&postid=2169588 That 15min ES chart again .... Just keeps hitting those ratio's on its way to that key 1:1 :) Update

Agree Mu on lower... Through that key 875 so the larger (y) pattern comes into play for a run towards the 1:1 @ 850 area

Update of that 120min Globex chart... Hopefully this will highlight how useful EW can be, when we had a rough idea of this mornings pattern , yesterday afternoon... :eek: Needs to hold around this 875 area, for the limit of the wave iii... If it goes lower then its morphing on to that...

Handy that EW :D Keeping on the right side of the market with the down move this morning Its starting to Push the limits of an ED wave iii , if it goes much lower its morphing into a larger 3 wave (y )pattern with this move down being the lesser "c"... See what you think... If it...

Good stuff Mu & ed ... :) Still like the ED option* myself unless the ES breaks above that key 917 swing high, then things are changing... A lot will see that 5 wave pattern as ed points out on the SPX... I'd be more tempted to label it a double zig-zag, as clean 5 wave patterns are quite...

Look forward to it Mike....:) --------------------------------------------------------------- Couldn't get above that lessr 5min frame 50% so status quo.... Enjoyed today :)

Just poped above that last alt... I'd be careful of on of those last 20mins squeeses if it gets above that 50% at 901.5... Again needs to clear that 901.5 to bring it into play...

Thats the one elo, Also the 88.6% @ 886.5.... If it overbalances the +10.5 back up things are changing ....If it carn't then business as usual for the bears......

Thanks Mike I'll also have a read through that link you posted ....:cool:

Thanks elo, ed... You get cynical of clean "c " wave moves over time... Even if its doesn't ED , oods on, always you know after a sharp move of a ratio they will always see who's holding the weak hands on an equally sharp move back.. An oldschool trader I knew called it the "Grand Old...