Elliott wave

[quintrix]

Quote from gharghur2:

My dear fellow.
The pattern you describe in your B wave is a proper channel. Channels occur in all markets and are USUALLY indicative of the ongoing trend: rising channels = rising markets, and visa versa.

In example: the cRUDE market last few years...

Tony,

I never said that we are in a downtrend
In theory, we could continue to move inside that channel..so the obvious consequence is that we will go up (Long Term)

The problem could be the triple zig-zag that USUALLY brings a break.....

I mentioned the possibility that once we hit the upper T-Line, we can fail again and return back to the lower T-Line

...at that point, the breakdown could mean that there is a Change in Trend on weekly basis.

UNTIL we break 1292 (confirmed by two weekly close) ... I am a still skeptical

Best

Qiuntrix

 

[quintrix]

Quote from formikatrading:

Some traders/analysts, such as Connie Brown, suggest that Elliott Wave should not be used in isolation. Other indicators (e.g., oscillators, etc.) need to be incorporated to help derive the proper wave counts. I tend to agree with this view. Any of you wavers doing this? [/B]

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Quote from gharghur2:

But of course.
I use several fibonacci moving averages and a market momentum indicator (fibonacci) to observe the unfolding of the waves. And, have done so for over 20 years.
Suggest all EWer's should do the same...

Completely agreed!.....me too suggest all EWavers should do the same...

Q.

 

[gharghur2]

Quote from quintrix:

Tony,

I never said that we are in a downtrend
In theory, we could continue to move inside that channel..so the obvious consequence is that we will go up (Long Term)

The problem could be the triple zig-zag that USUALLY brings a break.....

I mentioned the possibility that once we hit the upper T-Line, we can fail again and return back to the lower T-Line

...at that point, the breakdown could mean that there is a Change in Trend on weekly basis.

UNTIL we break 1292 (confirmed by two weekly close) ... I am a still skeptical

Best

Qiuntrix

Oh I misunderstood you, sorry.
Yes, I would also be disappointed with a failure to breakout of that upper channel line. A third of a third should do just that. If it doesn't something else is brewing

 

[quintrix]

Ready to cover

We are short the NQ H6 from 1698 and we are ready to cover our position, with a buy limit order @ 1655/1653 (maybe tomorrow, if there will be a follow thru). For those that are still short the ES from 1275.75 (stopped out in overnight for one tick), I suggest the same thing: a buy limit order @ 1254/1255. We are very close to the minimum target forecasted for this downside

Good Luck

http://elliottwaver.blogspot.com/

 

[quintrix]

Quote from quintrix:

Ready to cover

We are short the NQ H6 from 1698 and we are ready to cover our position, with a buy limit order @ 1655/1653 (maybe tomorrow, if there will be a follow thru). For those that are still short the ES from 1275.75 (stopped out in overnight for one tick), I suggest the same thing: a buy limit order @ 1254/1255. We are very close to the minimum target forecasted for this downside

Good Luck

http://elliottwaver.blogspot.com/

EW doesn't work eh?.....

Quintrix

 

[gharghur2]

Nice call Q

 

[quintrix]

Quote from gharghur2:

Nice call Q

Thanks Tony,

the problem for bulls is 1242 SPX cash level...to me is a key price
A close below could cause a change in trend in the intermediate term.

If this support will be broken, I see more selling pressure with another 20/25 points drop, down to 1218, another very important pivot

Q.

 

[gharghur2]

Quote from quintrix:

Thanks Tony,

the problem for bulls is 1242 SPX cash level...to me is a key price
A close below could cause a change in trend in the intermediate term.

If this support will be broken, I see more selling pressure with another 20/25 points drop, down to 1218, another very important pivot

Q.

Q

If we do not close higher tomorrow, the uptrend has reversed.
It's that simple!

 

[Spwaver]

Hi, anyone care to share what they think today's/tomorrows low would be if it holds? Tia

 

[quintrix]

Our buy limit order on the ES H6 has been executed (1254), so we are flat
We are still working the buy limit order on NQ @ 1653/1655.
We place a trailing stop @ 1672

http://elliottwaver.blogspot.com/

Happy new year

Q.